Coms & Negs

Question 1

Give an example of a time you have used negotiation.

Answer 1

Elmgrove - negotiated additional time for the contract review - identified the facts, considered the risks, understand other side, took emotion out of conversation and explained reasons behind request.

Question 2

What should you consider if you are to have a sucessful negotiation?

Answer 2

Whether the relationship or the outcome is more important
If it’s the relationship, go for a win-win
If it’s the outcome, go for a win-lose

Question 3

How do you have a successful negotiation?

Answer 3

Look at the facts & ignore emotions
Enter the negotiation with a best and worst case scenario in mind
Understand the other party’s point of view in order to come away with a win-win where possible

Question 4

What did you communicate about in pre, mid and post tender interviews?

Answer 4

The contractor’s understanding of the scope of works
The RFIs raised
The contractor’s methodology
Post Tender - The contractor’s technical and commercial submission
Any exclusions
Any provisional sums

Question 5

What are various negotiating techniques

Answer 5

1. Good memory
2. Peruasive
3. Gain trust of other party
4. Efficient at preparing info
5. Listen
6. Good intuition
7. Ability to concede & be flexible

• Right individuals in room
• Preparation
• Understand limits
• Start and end goals
• Back up plan
• Know when to walk away

Question 6

Style of negotiating with different people - client / contracotr / colleagues

Answer 6

Always listen
Always understand others point of view & position
May change my tone / authority slightly but otherwise the same

Question 7

Different negotiation techniques

Answer 7

1. Trying to secure best price for a client - be bold, ask for more with expectation to move towards other parties goal. Be patient and willing to wait. Deal with biggest items of difference.

Question 8

What are the basic principles of negotiation?

Answer 8

Have the facts
Develop a common ground
Have a fair result in mind with upper and lower limit
Take other party’s views into consideration
Make a decision and be firm with it

Question 9

How would you prepare for a negotiation?

Answer 9

• Agree your client’s objectives and negotiating strategy before starting the negotiations
• Detailed research and preparation
• Deciding what points you can concede on and which are non-negotiable
• Understand the other party’s position
• Develop a partnership/collaborative approach, rather than an adversarial approach
• Walk away when you need to

Question 10

Tell me about a time when you had to demonstrate effective communication skills?

Answer 10

• When undertaking a valuation on a retail unit in Reigate, I was required to communicate with local lettings and investment agents in order to obtain comparable evidence
• By being transparent from the outset about the purpose of my enquiry, I was able to get a strong level of engagement from the agents and ascertain the information I required

Question 11

Tell me about a time when you had to demonstrate effective negotiation skills?

Answer 11

• Acting on behalf of the landlord on the letting of an industrial warehouse in Tottenham
• Negotiated more favourable terms for my client by using comparable lettings evidence to help give context to the negotiations (prospective tenant had offered £17.50 psf and I negotiated them up to £18.00 psf)

Question 12

What makes effective communication?

Answer 12

• Clear
• Concise
• Complete
• Courteous

Question 13

How have you been able to improve you oral and written communication skills?

Answer 13

• Business meetings: marketing meetings, meeting prospective investors, team meetings
• Working collaboratively: joint agency, working with pan-European offices, advice from other departments
• Writing reports: valuation reports, purchase reports, marketing recommendation reports
• Emails: marketing emails, negotiations with prospective tenants, request tenancy information to aid with valuation