Every day in commercial real estate brokerage you will be negotiating through things such as listing, inspecting, marketing, or the many variations of a transaction in sales or leasing. The interactions you have with other people in brokerage are always ongoing.
Be prepared for the ‘twists and turns’ of talks and discussions. Some of those negotiations will be slow, difficult, or detailed. It directly follows that you can always improve your negotiation skills as an agent or broker. Generally, things can be worked through and ‘thrashed out’. The parties to a property deal will always have a fallback position, and you just have to find that.
Role Play Property Pressure Points
Adopt a strategy of practice in a negotiation where you can ‘role play’ the pressures and questions of the real estate market that you strike every day. Those pressures could be pricing, rentals, or deal related. Top agents practice their skills through the year as the economy and property situations shift and change in commercial real estate brokerage.
Where do you want a negotiation to start and end? Ultimately you want to reach an agreement between parties from any property related negotiation, but your client should always be ‘top of mind’ when it comes to the best outcome.
Knowing the targets of your client in a property sale or lease will help you reach an agreement faster in a property transaction. Set your transaction goals and work toward them by taking small, incremental steps of discussion and agreement.
Slide Deck of Negotiation Slides for Agents
In this ‘slide deck’ of negotiation slides, you can position yourself for better mediation with the parties from a base of professional diplomacy. Check out these slides below.