5 key points for negotiation

Sales is a "skill", a highly sought after skill.

Indeed, once acquired, it can be used in all fields, be it tech, food or real estate.

But sales itself does not exist. It is only the sum of several processes including

  • Prospecting
  • Negotiation
  • Loyalty building

Today we will focus on negotiation.

How to get what you want during a meeting, here we go:

1) Set your objectives so that you know how much leeway you have.

Knowing exactly what you want to achieve at the end of your meeting will give you a head start on the other party. Never let go of this objective, which has been carefully thought out beforehand.

But how to get what you want?

  • Ask for more

Let's take the example of a negotiation for the purchase price of a house.

You have set yourself a target (budget) of €200,000.

The house is put up for sale at €210,000. Ask the seller to lower the price to €190,000.

If he says yes, you've won everything. If he says no, there's a good chance he'll lower the price anyway, bringing you closer to your basic goal. "Cut the price in half, I'll go down to €200,000", pretend to think and then sign. You have just won the negotiation by reaching your basic target 🏆 Congratulations!

  • Ask for what you don't want

Ask for clauses, bonuses and other things that are not in your final objective. As the meeting progresses you can pretend to agree to make concessions (make efforts) on these requests, when you were not agreeing to get them in the first place.

Each concession = a step towards your interlocutor.

He or she will therefore feel indebted.

2) Manage your emotions and position yourself as an "offerer

You must not give the impression that you are dependent on this deal. If from the beginning of your exchange your interlocutor feels that you are ready to do anything to obtain the offer, then you have lost.

When announcing figures for example, positive or negative, restrain yourself. Let's take the example once again of buying a house. You should not position yourself as a buyer, but as someone who has the cash to enable the seller to sell the property.

And that changes everything.

It is no longer the seller who puts his house on offer, but you who offers your cash.

You have to turn the tables so that the seller will do absolutely everything to get YOU as a buyer.

To do this, don't hesitate to talk about your past experiences to position yourself as an expert and thus gain authority on the deal.

This turnaround must be fluid and continuous.

Your interviewer should feel it himself without you even saying "I have 10 years of experience in real estate, I know what your property is worth".

3) Be prepared for objections

It is literally HERE that the negotiation is won (or not).

To do this, take a moment to put yourself in the shoes of your contact before the meeting.

And answer these questions:

  • What are his or her objectives?
  • What might he or she say when my price is announced?

You must list all the objections he might raise during your exchange. Of course, you will have prepared the different answers to each of these objections beforehand.

4) The 7 "WHY " questions

In order to create a relationship of trust with the person you are talking to, you can use the 7 WHY's (7 whys) to find out more about them.

For example, you want to buy a house (always the same one, it is so beautiful :)

Ask the seller:

  • Why are you selling it? "I need liquidity ".
  • Why do you need the liquidity? "To go on a trip around the world"
  • Why are you going on a world tour? "To change air and discover new cultures"
  • Why discover new cultures? "To learn more and to grow ".
  • Etc...

So you deduce that they (the seller) want to sell to grow because they are not currently growing. Then use this in your negotiation by stressing the fact that if he lowers his price a little, you will be able to buy the house and finance his "fulfilment" thanks to his world tour.

5) Be human

Listen to the person you are negotiating with, let them express themselves, even when they object. The fact of listening to him will make him feel "important" in your eyes. They will feel considered. This will prevent any outbursts.

Don't forget to smile. Smile again and again.

"The man who can't smile shouldn't have a shop".

The aim of the meeting is for both parties to come away with a win-win situation. One should not feel cheated by the other.

You don't need to be reminded of this, but punctuality is a sign of authority and professionalism. So be on time so that the meeting starts in the best conditions.

It is time for the conclusion. It is your turn to hang up or say goodbye. Once again to act as the "dominant" in this exchange.

The first and last impressions are the most important.

You have made a good entrance by being punctual, make a good exit.

A polite greeting and a big smile are non-negotiable!

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