Communication and Negotiation (Level 2) Flashcards
What forms of communication are there?
Verbal
Non-verbal
Written
Presentation
Listening
What communication channels have I used?
-Emails
- Phone calls
- Face to face meetings
- Virtual meetings
- Presentations
What are barriers to effective communication?
Language
Technical Language Barriers
Bias
Interruptions
Time zones
What presentation skills do you use?
Clear communication
Eye contact
Visual aids
What are the most effective communication channels?
Emails and phone calls
- However I understand their drawbacks
- I always follow up phone calls with emails to ensure a written trail
What are advantages of written coms?
Efficient way to convey complex advice
Clear audit trail
Can reach a wide range of recipients
What are the cons of written coms?
Hard to know if someone has received email
## Cant tell tone/body language
How do I communicate effectively when writing?
Keep things clear and concise
Use language which is easy to understand
Include conclusions/illustrations when necessary
What is the importance of good communication?
Convey info across parties
Reduce misunderstanding
Allow efficient management
What is body language?
Non-verbal communication conveyed by the body
How are my service charges provided to clients?
3 months before start date - meet KPI and SC code
Draft budget provided with recommendations for breakdown
Phone virtual meeting set up to run through draft, before finalising budget
When have I tailored my communication style?
Talking through refurb works with a client. They were unaware of what RAMS where, so I explained in a clear, simple manner and covered any questions they had
How would you inform a client of bad news?
Straight away over the phone to deliver the news.
- I would then arrange a meeting to discuss in detail, preparing all info and explaining the issue in detail
What is a benefit of formally documenting meetings?
Can be easily referred to and ensures matters discussed are actioned
What are meeting minutes?
Official record of decisions made, who attended and dates, plans for next meeting
What is an example of a written report you have provided to a client?
Licence to Assign
- Clear and concise with recommendation
- SPlit into key sections
+ Key lease terms
+ Detail of application
+ Overall recommendation
- Provide clear recommendation and conclusion
- Use language client can understand
What is negotiation?
Dissussion betwene 2 or more parties, aimed at resolving an issue or reaching an agreement on a matter
What do you consider when entering a negotiation?
What is negotiable and non-negotiable
Gather info and facts
Consider character of other party
Define outcomes
Plan structure of negotiation
What are key negotiation skills?
Research and preparation
What is and isn’t negotiable
Attitude
Flexibility
Having fall back
What is my negotiation style?
Depends on desired outcome, but I aim to be collaborative and find a solution that works for all parties
How would you maintain professionalism when conducting a negotiation?
Treat others with respect
Be objective
Carry out negotiation ethically and to the required standards
What happens during a negotiation?
Parties set out their case and what they would like to achieve
How would you ensure frequency of communication is acceptable?
Aim to respond in 24 hours
- If complex task, I send an email confirming receipt
What are barriers to negotiation?
Lack of trust
Lack of information
Cultural differences
Communication issues
What are win-win and win-lose negotiations?
Win - concludes with mutually beneficial outcome
Lose - one party wins and other loses
What are types of negotiation?
Hard - goal of victory (adversarial)
Soft - goal of agreement (non-confrontational)
Principled - goal of problem solving
What are the 5 negotiation styles?
1) Avoiding - delay negotiation
2) Dominant - outcome over relationship
3) Accommodating - relationship over outcome
4) Collaborative - mutual success
5) Compromising - will to accept winners and losers
How do you conduct yourself in a negotiation?
Calm, accommodating, cooperative, positive attitude
What happens if you cant reach an agreement through negotiation?
Dispute resolution
Ideally mediation/conciliation to begin with
How do you conclude a negotiation?
Conclude conversations
Ensure minor details are agreed
Ensure parties happy/agreed
Follow up with written confirmation of outcomes
What is a non-starter?
Offer with no chance of success - dangerous to negotiations and damage relationship
Why is negotiation important?
Increase value for client
Increase income
Avoid ADR
Why is discussing matters in person important?
Build trust and create better relationship
Increase collaboration and productivity
Quicker
Non-verbal understanding - body language
How do you ensure good communication?
Follow up meetings & phone calls with emails
Ensure i communicate clearly
Prepare ahead of meetings and bring visual aids
Arrears, Trowbridge - What is a tenant payment plan and how is it agreed?
Written agreement between landlord and tenant
Drafted through negotiation
Spread financial cost of arrears over agreed period
Do not change terms of lease
Arrears, Trowbridge - what does a tenant payment plan include?
Start and end date of period
Total amount of arrears
Installment amount
Additional conditions - possibility of review
Quarterly Client Meeting - What benchmarks did you report against?
Void %
Rent collection
SC Collection
NOI
Quarterly Client Meeting - What is NOI?
Gross Operating Income - Gross Operating Expenses
(Expenses = fees, utilities, insurance etc)
