The New Style of Negotiation - COLLABORATION (Part 1)

Reblogger Louise Thaxton
Real Estate Mortgage Broker with Fairway Independent Mortgage Corp Louisiana NMLS#2289

What if you negotiated through the COLLABORATIVE style of NEGOTIATION instead of the COMPETITIVE style?  Would it make a difference?  You betcha!  A very enlighting post that can teach all of us a lot about our styles of negotiation!  And I personally can't wait for Loreena's Part 2  - I have disabled comments to this re-blog so you can make your comments directly to Loreena. 

Original content by Loreena Yeo

It's not new and neither is it unheard of - that the COLLABORATIVE style of NEGOTIATION is what every party in a negotiation should strive for. However, the reality is that most people (by default) negotiate in the COMPETITIVE STYLE even without realizing it.

This 2-part NEGOTIATION STYLE is a result of my short experience in one of my contracts after I put into action what I learned from my Certified Negotiation Class.
If you want to read about my experience and overview of the class, please read:

Some of the COMPETITIVE STYLE NEGOTIATION include:

  • Good guy, bad guy
  • Nibble
  • Intimidation (includes silence, walk away, escalation to higher authority)
  • Short deadlines
  • Bluffing (Walk away, all I can afford)

Competitive negotiators uses alot of manipulating, aggressive or threathening language, abuse power as well as hard bargaining tactics. I'm sure you have experienced some of these in your real estate negotiations.

What I experienced in my past, although an agent says s/he wants a WIN-WIN negotiation for all parties, it doesn't mean that's what is achieved.

Instead a COLLABORATIVE STYLE of NEGOTIATION includes:

  • Asking alot of questions - not to take advantage of the other party but instead using them to formulate the best outcome for all parties involved.
  • Build trust - include open sharing of information (I understand about CONFIDENTIALITY in the COE. I have some changes views about them yet not giving away my client's position. A fine line to trade there)
  • Willingness to be influenced
  • Expectations sharing and meeting

Check out my next blog on how to apply a COLLABORATIVE STYLE of NEGOTIATION for a successful real estate transaction! Stay tuned!!!

 

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Louise Thaxton

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