Negotiating 101

I've spent 30+ hours studying $16,000,000+ deals.

How they are made and won.

The simple fact is this:

You negotiate deals every day

• At Work

• At Home

• With Yourself

The Kretz Family Real Estate Agency based in Paris has been negotiating deals of up to €80,000,000 for 15 years.

Their client list is something special...

• Celebrities

• Royal families

• Chief Executives

They have their secrets to getting people to say YES.

Here are 9 negotiation secrets to take your career to the next level.

9 Negotiation Secrets to Accelerate Your Career:

1. Trust

Trust is the doorway to deal-making.

Build your reputation for delivering and doors will open.

For the agency, real estate isn’t a property business, it’s a relationship business.

2. Interest

Become the most powerful person in the room...

By knowing what people want.

Always identify the most important thing to your counterpart.

The Kretz family always begin with identifying the lifestyle a client wants to buy.

3. Framing

The Anchoring Effect

Frame your terms first and anchor people to them.

The budget and lifestyle are the anchors of home buyers, anchoring real estate agents to their terms and needs.

4. Risk Reversal

Be 1 step ahead of your counterpart.

Identify what's risky to them and reverse it.

• In your interviews, highlight the risks of hiring YOU. Reverse them with your strengths and make them irrelevant.

The agency always highlights the property's flaws and how it won’t disappoint.

5. Next Best Alternative

Provide YOUR options and let others decide.

Provide 1-2 options shifting decisions from:

“Why should I..” → “Which should I…?”

Clients are shown 1 - 3 properties.

Helping them feel like they have a choice (NB for no.7)

6. Barriers To Yes

The agency weighs up a client's interests and desires.

“What could hinder their decision-making?”

They always anticipate a client’s objections.

• Location

• Price

• Size

And prepare solutions to remove the barriers to YES.

7. Persuasion resistance

Reactance Bias

Avoid pressing people to go with your plan.

Instead, share your options to help others make informed decisions.

8. 3 Universal Currencies

Use the 3 universal currencies of decision-making to your advantage:

• time

• resources

• and flexibility

“What do you and your counterpart want?

What are you willing to sacrifice?“

Know where the barriers and wiggle room are.

9. 3-D Negotiation

Use the 3 dimensions of negotiation to achieve optimal outcomes:

• Setup - Identifying clients' needs.

• Structure - Sell the home through storytelling and reading body language during a viewing.

• Discussion - Negotiating home selection and price.

Setup, structure and discussion are the steps to follow to make negotiations easier.

So remember,

9 principles, to help you to get people to the YES!

1. Build trust

2. Reverse the risks

3. Find their interests

4. Frame your options

5. Remove barriers to yes

6. Use the 3-D negotiation

7. Three universal currencies

8. Avoid persuasion resistance

9. Give the next best alternative

When you provide value, you can negotiate what you deserve.

Good luck!