Communication & Negotiation Flashcards
What is vitally important for communication?
You should always adapt accordingly for communication and negotiation and know exactly what your client / landowner will want.
Why is it important to communicate effectively when interacting and negotiating with landowners, agents, consultants and other interested parties?
- Make sure no misunderstanding
- Everyone understands each other
- Know what people want
- Making sure no conflicts.
What different methods of communication are there?
- Written
- Oral
- Visual presentation
Why would you use certain types of communication?
Different people like different forms - the situation will always lead which form I will use
What should you do if you are face to face communication / telephone?
- Make sure to keep diary log of everything discussed and date / times etc – who was present.
- This then helps prevent a conflict arising
- Provides good material to reference and have typed up.
What are good/excellent communication skills?
- Clear and Concise
- Well spoke
- Polite
- Not to be harmful and disrespectful
- Communicating in a way that the landowner / agent / client wants.
What are good negotiation skills?
- Detailed research and preparation and undertaking SWOT analysis hand.
- Agreeing clients objectives and strategies before the start of negotiation.
- Deciding what points you can and can’t accept – link to HOTs/ promotion. For example your win-win and fallback positions and areas of common ground?
- What points are you can give up on / non-neopigtable
- Knowing when to walk away
- Always create a partnership/collaborative approach.
What is a SWOT analysis and when have you used one?
For a site review the other day -
Strengths - good location, good quantum of units
Weaknesses: Planning angle was risky
Opportunities: opportunity to create a presence in a target area and better pipeline
Threats: unstable planning conditions and HA market.
What are HOTS?
Heads of terms are an agreement in principle between two parties, but which are subject to a formal contract.
Why is it important to communicate effectively when interacting and negotiating with landowners, agents, consultants and other interested parties?
- Make sure no misunderstanding
- Everyone understands each other
- Know what people want
- Making sure no conflicts.
What are included within HOTS?
- Property – size / red plan
- Agreement Type
- Landowner details / address
- Landowner Agent / address
- Solicitors details
- Promoter / developer / buyer details / address
- Term / Period