Communication & Negotiation Flashcards
What is negotiation?
Discussion aimed at reaching an agreement
What does STC mean
Subject to contract - not legally binding until in a contract
What does WP mean?
Without prejudice cannot be used against you in a court of law
What are the Stages of negotiation?
- Discussion
- Clarification of goals and objectives
3.Agreement - Implementation of a course of action
What are good negotiation skills?
- Constructive environment for negotiations
- Agreeing clients aims & objectives - Any time limits or urgency required
- Detailed research & preparation to support my case
- Define ‘win-win’ & fall back positions - define what is negotiable & what is not
- Identify areas of common ground
- Maintain areas of common ground
- Maintain communication
Identify areas of common ground
8.Be respectful know when to walk away
What are the tools of good negotiation?
- Experience & Knowledge
- Confidence without arrogance
- Having alternative solutions prepared
What communications do you use on a daily basis?
verbal communication - site meetings/phonecalls
Emails - written
Letters - written
Why do you use different communications in different situations?
Verbal in less formal circumstances - such as establishing client aims & objectives - I always ensure to document key points of conversation on a file note to ensure a record is place should it need to be referred back to at a later date
Written - in more formal situations where there is written record of matters agreed or advice given.
How can remote working affect communication?
Can lead to:
Less efficient communication/misunderstandings - due to absence of face to face interaction.
Challenges in fostering a sense of connection, collaboration particularly for less experienced staff
Feelings of loneliness isolation
How can you mitigate against issues affecting communication?
Establish clear communication channels and set expectations for response times - could use video calls, chats and emails, project management tools communication like Zoom, or Microsoft Teams
Encourage frequent check-ins, virtual meetings, and updates to ensure everyone is on the same page
Create social events or informal ‘water cooler’ moments
organising virtual team building activities
Encourage a culture of mental well being - Provide support or resources & regular check ins on personal wellness.
Why is it important to consider unique characteristics?
Different clients have different needs some may require additional time to explain matters thoroughly
When may a letter or email be more appropriate than call/face to face meetings
More formal situations - confirming an offer on a property
Why is it important to have a written record in place of phone calls site meetings?
So key points are recorded should they need to be referred to at a later date
When negotiating what skills do you use?
Preparation research
Clear communication
problem solving mindset
Confidence without arrogance
Flexibility/adaptability
Emotional control
Integrity
Objectivity
Respectful, transparency & unbiased
Always remember integrity, professionalism & transparency are paramount
What do not use/do when negotiating?
Avoid being aggressive or confrontational
Do not be dishonest/deceptive or misrepresent the situation
Do not be manipulative or use coercion
Do not over estimate your position
Do not let personal bias influence decisions
What skills are important when preparing a pitch for clients?
Strategic thinking
effective communication skills
professional knowledge
relationship building
What communications have you used for presentations in your office?
Verbal and visual - delivered power point presentations, generally supplemented with a printed handout of explanatory notes
What other options did you have or did you use?
Informal methods - discussions around a particular topic
BNG Metric how did you communicate this with the client and negotiate the situation?
Informed clients both verbally at the site meeting & confirmed via email.
I contacted various firms for quotes & timelines which i then forwarded to client to take instruction
Stabiliser bull how did you negotiate the commission rate?
Long standing client -
Reviewed client requirements - he wanted me to handle enquires/offers & arrange viewings but I was not required to attend the viewings
Usual commission rate 4 + % so given this I suggested a lower commission rate of 3.5+ %
How did you negotiate Sale Price of the Bull?
Vendor wanted £3000 offers were made one being £2750, vendor was not inclined to accept so I went back to purchaser and asked for best and final offer with a sale price of £2900 agreed after conformation of acceptance from the vendor
Why was the money for the Bull paid into the client account?
It was the clients money, we were effectively collecting it. It was communicated on the ToB and via email
What are forms/methods of communication?
Formal - Meetings, conference calls, newletters, emails, posters
Informal - lunchtime meetings, Voicemails, hallway conversations
Written - letter, emails, reports
Verbal - telephone calls, meetings, presentations
Non-verbal - body language, eye contact, facial expressions, gestures
What are the benefits of effective communication?
Positive experience
Potentially winning new clients
resolving complex situations
