Negotiating the best deal in commercial property transactions: Chris Lang

In this short video, you will be given a quick introduction to the three key elements you need to underpin every negotiation.

Because, once you know how to negotiate, this will provide you with your ultimate passport to success.  

However, negotiating clearly involves far more than simply three elements, as you have so many other strategies, tactics and nuances that go into becoming a master negotiator.

But the good news is that all of these are teachable skills which you're able to quickly and easily learn with little or no effort.

As you can appreciate, over a career of 40-plus years, you tend to see and use virtually every negotiating technique there is. And one by one, I have tested them and noted them down.

To the point where I've now compiled: Your A to Z of Negotiating.? And therefore, let me quickly walk you through the very first aspect...

Agendas

Everyone going into a negotiation has an agenda. But the mistake most people make is in assuming that your agenda is the same as theirs.

You know, in all my years as a negotiator, I've never seen two identical agendas. Sure, there may be a few common items, but they never seem to be in the same order of importance, on both agendas.

As such, the number one item on their agenda may well be number seven on yours. And the secret lies in knowing just how to determine that, which is one of the other 25 techniques.

Because, once you know what's on their agenda, you are then in a strong position to trade your lesser items, to achieve your ultimate objective.

In fact, the biggest mistake you can ever make is to allow your negotiation to reach the point where price has become the only item under discussion. From there on, one party has tolLose in order for the other to win.

Basically, there are only four outcomes for every negotiation…

Your aim ought be to take control of the negotiation and steer it towards a win-win result. That way, it ensures the deal will 'stick' while the documentation is being prepared.

Bottom Line: If you really are serious about improving your negotiating skills, you might care to enroll in my master class on negotiating.

Chris Langis an advisor to commercial property investors, sell-out author and regular speaker on how to invest in commercial property. You can visit his website Property Edge Australia to help you get the most out of your commercial property investing.