Communication and negotiation Flashcards
What methods of communication do you use?
My preferred way of communicating is face to face but I also use email, telephone and more recently have started to speak to lots of clients via video calls on Zoom or Microsoft Teams.
Which do you think is most effective and why?
I believe that a mixture of communication methods is the most effective. Face to face communication builds a rapport, while email correspondence creates an audit trail, and speaking on the phone is a quick way of exchanging information.
How do you confirm understanding and why is listening so important?
I will always confirm understanding with a client by following up any verbal conversations with a summary of what I believe has been agreed, and requesting confirmation that I have understood the situation correctly.
Listening is very important when it comes to property as small details can have a large influence on values etc. For example if a client says that their empty rates relief expires in two months I will consider this a key factor in trying to secure a letting before my client has to start paying rates.
What are the stages of a negotiation?
- Preparation and planning.
- Definition of ground rules.
- Clarification and justification.
- Bargaining and problem solving.
- Closure and implementation.
Explain how you followed the negotiation process at Wandsworth?
14 Enterprise Way.
I had researched comparable evidence before marketing so that I knew roughly what sort of terms would be appropriate.
When an offer was received I proposed a counteroffer, confirming it was Subject to Contract, and I explained the reasoning behind the terms my client wanted to agree.
I advised my client to concede on some terms such as the headline rent, but to stand firm on others such as the lease length. The tenant had proposed annual breaks and I negotiated a 3 year term certain at a fixed rent.
I closed the deal by agreeing heads of terms with both parties and getting my client to instruct a solicitors.
How did you assess and agree your client’s objectives?
I met the client to establish the brief and listened carefully to understand their key objectives. They were a private couple and were more concerned about consistent income and rates mitigation than headline rent levels.
