Negotiation, Negotiation, Negotiation

UK Property Investment news and comments from Mark Harrison of YourPropertyExpert.com

Posts Tagged ‘Property Negotiation’

Five Negotiation Techniques in One Letter

Posted by markharrison on January 30, 2008

I realised that it had been a while since I’ve blogged about any specific property negotiation techniques, but a letter I’ve just written combines FIVE of the techniques from my negotiation ebook in one single offer.

Obviously, I’m not prepared to give EXACT details, since the negotiation is still ongoing, but here’s what I’ve just done.

Three days after receiving a counter-offer, I’ve written back, with two alternative figures, showing how I arrived at the breakdown to the nearest pound.

    Right, time to take these one at a time:

    “Three days after receiving a counter-offer…”

    • I’m not in any kind of hurry. The last thing I want to do is give the impression that I’m under any time pressure, so I forced myself to wait a couple of days rather than pinging a reply straight back.

    “…I’ve written back…”

    • If possible, I put my offers in writing. There’s lots of research to show that offers received on paper get taken more seriously than figures just read down a phone line.

    “…with two alternative figures,…”

    • The danger of putting a single offer is that the mental choice is “take it or leave it.” Giving what’s known in sales as an “alternate close” makes the choice “option A” or “option B”.

    “showing how I arrived at the breakdown”

    • In the UK, haggling is not well regarded. Hence, I’ve given a detailed breakdown of how I arrived at a price, with subtotals… rather than just saying “I’ll knock off five grand.”

    “to the nearest pound.”

    • Don’t offer round numbers! They look made up, and make people think “he could offer me” (or ask less.) This is why shops sell at £4.99 rather than £5. It’s nothing to do with the “four quid not five”, and everything to do with the “stop customers assuming you’re price-fixing”

    Posted in Property Negotiation, Property Negotiation Book | Tagged: , | 5 Comments »

    Property Negotiation – Slides now available on-line

    Posted by markharrison on November 21, 2007

    Following the feedback about putting my Negotiation for small businesses slides online, I’ve updated my “Property Negotiation” slides.

    These are from the 45 minute version of the talk I’ve given for organisations like the National Federation of Residential Landlords, and others.

    If you run a networking event, and would like me to come and give this presentation (or any of my other presentations, please get in touch.)

    You should be able to read the slides online here, or download them to your own PC.

    And finally, thanks to Chris Brogan for his brilliant idea of using Flickr to find photos licenced under Creative Commons for use in this slideshow. Thanks also to the photographers (credited in the slides) for sharing their photos in this way.

    Posted in Investor Psychology, Negotiation, Negotiation Presentation, Property Negotiation, Training course | Tagged: , , | 1 Comment »

     
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