Communication & Negotiation Flashcards
How did you commence negotiations in Exeter?
Worked out a position and reported it to my client. Got their instructions to enter negotiations offering 3 years rent and rates.
What was the full amount you owed in Exeter?
Rent, rates, insurance, service charge and delaps.
How long was left on the lease in Exeter?
3 years
What was the key points in your negotiation in Exeter?
Client wanted to reduce or have even no delaps settlement.
What should you include in written negotiations?
Without prejudice & subject to contract
Why did you follow up calls with meeting notes?
Record action points, keep an audit trail
Why is it necessary to take instruction from your client?
Whenever you are making an offer or strategic decision on their behalf.
What was your eventual settlement in your Exeter negotiations?
We agreed to pay the full rent and rates for the remainder of the lease, or until the landlord could find a new tenant. As the landlord had this marketing time and rent assurance, we were able to avoid a delaps settlement estimated at £75k.
How did you source quotes and communicate these to your client in your office tenant vacating example?
Searched local security providers in the local area. Called them to discuss scope of service and price. Complied this in a spread sheet and arranged a call with my client to go through five options.
What were the tenant timeframes in the example?
The tenant wanted to vacate the property at 9am on lease expiry. I met them on site at 8am, took the keys, met the security provider and showed them the boundaries of the property.
Was there a point you would walk away in your Exeter example?
Yes - If the savings became so minimal that the professional fees would become more expensive than the saving.
