Lvl 2 Communication & Negotiation Flashcards
Tell me about how you conduct yourself in negotiations.
During negotiations I remain professional, ethical, and have a focus on achieving a mutually beneficial outcome.
Tell me about how you ensure good communication.
To ensure good communication I focus on clarity, active listening, and adaptability. I tailor my communication styles based on my audience whether that is clients, colleagues, or other professionals. I use clear concise langauge and avoid using acronyms or jargon when unneccessary.
Tell me about an example of when you have negotiated effectively.
I once had a situation where the new service charge for a multi tenated office was pushed back by a lack of trust from the tenant. The tenants didn’t agree with the proposed increases and believed they were being overcharged. To overcome this I prepared a breakdown of all service costs so they can understand the increase.
Give me an example of when you have communicated using a complex written report.
I have completed a valuation report for loan security purposes. I structured my report with a clear executive summary at the start, I detailed the property description, and market anaylsis. Throughout my report I used concise english and images to effecitvely communicate my information to the client.
What were your clients’ requirements for the valuation?
The client was a major bank and they needed a valuation report for loan security purposes.
What are the risks of not providing the client with the correct information, or any information at all?
Innacurate information could lead the bank to lend too much or too little, potentiall exposing them to financial risk. As the valuer I also could be held professionally liable for any losses the bank incurs due to incorrect valuation.
Could you have used a different type of communication method other than a tracker?
Yes I could have used a report outlining the potential sites but I felt that I could better evaluate and analyse the potential sites on an Excel tracker.
What was your company’s negotiation strategy for the fee structure?
The site search was on a basic fee.
Provide examples of mutually agreeable terms.
In business rates we usually work on a no win no fee basis. If we do manage to save on a clients business rates we charge a fee percentage of 17.5%.
