Communication & Negotiation Flashcards

Property Elite (6 cards)

1
Q

How do you conduct yourself in negotiations?

A

I adopt a professional, ethical, and objective approach. I ensure I am fully prepared with market evidence (comparables), identify the client’s “Best Alternative to a Negotiated Agreement” (BATNA), and maintain clear, respectful dialogue to reach a mutually acceptable outcome.

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2
Q

How do you ensure good communication?

A

I establish the client’s preferred method and frequency of updates at the outset. I use clear, jargon-free language and follow up verbal discussions with a written summary (email or file note) to ensure there is an audit trail and no room for misinterpretation.

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3
Q

Tell me about an example of when you have negotiated effectively.

A

Example: I negotiated a rent review for a commercial tenant. I analyzed local market evidence, presented a reasoned report to the landlord’s agent highlighting property-specific defects, and successfully agreed on a rent 10% below the initial asking figure, saving the client significant costs.

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4
Q

Tell me about an example of when you have communicated effectively.

A

Example: When a project deadline was at risk due to a delayed third-party report, I proactively communicated the issue to the client immediately. I explained the impact, offered a revised timeline, and provided a preliminary summary of my findings to keep their decision-making process moving.

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5
Q

What is your negotiating style?

A

I primarily use Principled Negotiation. This focuses on the interests of the parties rather than rigid positions, seeking “win-win” solutions based on objective criteria (such as RICS-compliant market evidence) rather than aggressive posturing.

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6
Q

Give an example of a complex written report you have produced.

A

Example: I produced a Red Book Valuation Report for a secured lending instruction. This required synthesizing complex data including title encumbrances, environmental risks, and market volatility into a clear, structured document that complied with RICS Global Standards.

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