“The Worst Person to negotiate for you is you!”
This is different perspective from the “norm” and is outlined below
In the Sectional Title environment, you should not be negotiating directly with attorneys, trustees, the Body Corp representatives, or even tenants.
One of the most fundamental questions about any negotiation that has to be answered is who should be running the show? If you ask most of us, we’d tell you that it’s the person who is ultimately in charge – the big man/ woman?
You really shouldn’t be anywhere near the actual negotiations. The reason is quite intuitive actually.
Who Should Be Doing The Negotiating?
No deal is going to happen without your approval.
Because you’ll make the final decisions, you’re too powerful to participate.
Instead, you are going to want to have the negotiations lead by a skilled negotiator who understands the different negotiation styles and negotiation techniques. They need to be good at what they do, and importantly everyone must know that they are not in control of the ‘final word’.
Instead, they’ll negotiate the best deal that they can and take it to you for approval.
Why is this separation-of-power is so important?
When a deal is reached, you want your negotiator to have the option of saying that “the deal looks good and just needs approval.”
This buys you that most precious of all resources: time – time to examine, consult, or double check.
If you were involved in the negotiations, the other side could rightly expect you to make a final decision on the spot. But this would eliminate your ability to give the proposal a little time to cook rather than making snap decisions that you may end up regretting.
There are two types of negotiators and the separation of power serves both:
The EXPERIENCED. They’re often…
- “Win/ lose” (though they “win” mostly)
- Unconsciously unaware of the how “winning” might impact on relationships, reputation, backlash, and sustainability of the outcome.
An optimal agreement must address the needs and wants of both parties and are listed below:
- Fair treatment prevails.
- Access to redress is part of the agreement/s.
- Security in the expectation of calm co-existence.
- The process is seen as a means of putting the past to rest.
- Personal reconciliation receives the support of co-owners.
- Outcomes match the circumstances of the conflict.
- Acknowledgement that the other’s viewpoints have some merit.
The IN-EXPERIENCED. They’re often…
- Easily intimidated
- Challenged when confronted with ultimatums or coercions
- Too quick to accept “the best offer”
Good negotiations are never about win/ lose.
The most common weakness in most negotiators is that of “leaving value on the table” and that is almost always directly linked to the 80/20 rule:
Negotiation is 80% preparation and 20% dialogue. That (80%) is where all value is examined and worked in to a strategy that leaves anything out which among other benefits could be used as bargaining chips. A professional negotiator is identifiable as one that invests a lot of time on preparation to ensure that outcomes are fair, address all of the issues of the other party, and has durability.
My father said: you must never try to make all the money that’s in a deal. Let the other fellow make some money too, because if you have a reputation for always making all the money, you won’t have many deals
~ J. Paul Getty