Navigating Negotiations: 5 Key Insights for Success.

Hello, LinkedIn community, and Happy New Year's!

While I don't consider myself an expert, I wanted to share insights inspired by a recent book I completed. The lessons for mastering the art of negotiation are always good for review and polish, especially this new 2024.

Lesson #1: Understand First

Every negotiation begins with the universal desire for acceptance. Listening is easier said than done, but it is a powerful tool. Listening intensely demonstrates empathy and a sincere desire to understand the other party's perspective. Everyone seeks understanding and respect and ultimately seeks to achieve their goals in a negotiation.

Lesson #2: Negotiation is Discovery, not a Battle

Considering a negotiation as a battle can be overwhelming, leading to arguments. Instead, see it as an act of discovery. Uncover what the other side truly wants—whether it's money, time, respect, or recognition. Simple tactics like smiling and mirroring can create a positive atmosphere and extract valuable information.

Lesson #3: Tactical Empathy

Tactical empathy involves understanding the feelings and mindset of the other person. Techniques such as labeling emotions and diffusing negatives with labels build a strong connection. Empathy brings minds together, fostering collaboration and effective problem-solving.

Lesson #4: Start with No

Contrary to popular belief, starting with 'no' is a negotiation's beginning, not the end. It establishes control and allows both parties to focus on the negotiation without feeling trapped or committed.

Lesson #5: That's Right

"That's right" is a potent phrase in negotiations. Repeat your opponent's words back to them to show understanding. If you hear "that's right," you're on the right track—it signifies the deal is nearly sealed.

Negotiation is part of our daily lives, from convincing a friend to try a new restaurant to complex business dealings like property assimilations. As we approach 2024, a year filled with negotiations, I aim to delve deeper into these lessons and provide practical tips for various scenarios. It will help me become a better negotiator and contribute to the solidification of knowledge we all need in this complex world of business.

Thank you for your time, and following support. Feel free to suggest more insights on business dealings and real estate insight!

Best regards, Jose