In the dynamic realm of New York City’s real estate market, negotiations can be both thrilling and daunting.
Jason Christie is a Licensed Real Estate Broker with over 15 years of international sales experience. Additionally, he has built two multi-million-dollar businesses from the ground up. As a guest on the Negotiate Anything podcast, Jason dove into the intricacies of high-stakes negotiations and highlighted his best advice for finding success in business, particularly in the real-estate industry.
Techniques for Managing Egos
Negotiations in the competitive real estate landscape, specifically in New York City, often involve strong personalities and even stronger egos. Christie stresses the importance of acknowledging ego dynamics while staying grounded. He advocates for embracing the notion that, in negotiations, your ego isn’t your amigo. Focus on the bigger picture and the ultimate goal of achieving a mutually beneficial agreement. By stepping back from personal battles, negotiators can foster a collaborative atmosphere that paves the way for productive discussions.
Balancing Values and Client Desires
The NYC real estate market is known for its diversity, both in terms of properties and people. Balancing personal values with client desires can be a delicate feat. Christie emphasizes the significance of aligning your values with your client’s goals while ensuring ethical integrity. He suggests engaging in open conversations with clients to identify their priorities, thereby creating a win-win situation that respects both parties’ interests.
The Power of Vocal Cues and Body Language
Effective communication goes beyond words—it encompasses vocal cues and body language. In a fast-paced negotiation, Christie advises keenly observing these non-verbal cues. Subtle changes in tone, pace, and body language can reveal hidden emotions and guide your responses and curiosity. Being attuned to these signals helps you navigate negotiations more skillfully and empathetically, fostering trust and rapport.
Additional Expert Insights
Outside of the expert advice provided by Christie, here are some other things to keep in mind when preparing to enter the world of high-stakes business negotiations. These tactics can be applied to difficult conversations in your personal life as well.
The Power of Ownership and Accountability
Ownership and accountability are pivotal in conflict resolution. By acknowledging your role in any misunderstanding and taking ownership of it, you create an environment conducive to open dialogue. This approach empowers all parties to collaborate towards finding practical solutions.
Value of Compassionate Curiosity
Understanding and addressing emotions play a significant role in successful negotiations. The Compassionate Curiosity® Framework helps you to ask questions that will uncover the underlying emotions driving your counterpart’s stance.
As a reminder, here are the steps to this approach:
Step 1: Acknowledge Emotions
Acknowledge and validate what the other person is saying by listening carefully to what is being said and then summarizing to the best of your ability.
Example: “Based on what you’ve said, it sounds like this has been a really frustrating situation for you.”
Step 2: Get Curious with Compassion
With this step, you are looking to learn more about what your conversation partner is feeling emotionally or needing from the conversation. The key here is to use a compassionate tone, while asking open-ended questions and using open-ended statements.
Examples (beginning of the conversation):
“What do you think about this situation?”
“Tell me your perspective.”
Example (as the conversation progresses):
“Considering the time sensitive nature of the situation, how can we deliver this solution within a 3-week timeframe you proposed?”
Step 3: Joint-Problem Solving
This is where you leverage steps one and two to collaboratively resolve the main conflict and (ideally) identify a mutually beneficial solution.
You can begin this process by asking, “What would need to happen in order for ____.”
Another option would be to state your recommended proposal or solution, outline how it is mutually beneficial, and then ask for your counterpart to share their thoughts.
This empathetic approach not only diffuses tension but also lays the groundwork for empathetic resolutions.
3. Importance of Self-Coaching and Seeking Support
Negotiation is a skill that requires continuous growth. The episode highlights the value of self-coaching and seeking support for personal development. Engaging in introspection and seeking guidance from mentors or coaches can provide fresh perspectives and enhance negotiation capabilities over time.