See the World From Their Shoes, Don’t Feel Their Pain
by Osman Parvez
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At Realty Unique, we do a lot of negotiation and leverage our skills to benefit our clients. We also constantly seek to improve by studying the art of negotiation. Last week, I came across a good piece on two negotiation tactics and their success rates in The Economist. I thought it might benefit the readers of the blog.
The article focuses on two common tactics; empathy and perspective. Empathy is the ability to connect with your counter party emotionally. Perspective is the ability to see the situation from their point of view. Good negotiation usually includes elements of both but I was surprised at the advantage perspective has on the success of negotiation. If you’re looking to hone your negotiation skills, you might enjoy the full article.
Here’s a few key points (via selective quotes):
When the buyer in particular had a perspective-taking ability it could predict a successful outcome. It was the pair with a perspective-taking buyer who were more likely to strike a deal (76%) than the empathisers (54%), followed by the control group (39%) Even with one negotiator having perspective-taking abilities it can produce a better overall outcome for both sides.
“You want to understand what the other side’s interests are, but you do not want to sacrifice your own interests,” says Dr Galinksy. “A large amount of empathy can actually impair the ability of people to reach a creative deal.”
image: salimfadhley
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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.
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Osman was a refreshingly honest realtor. He stressed through the entire process that his goal was to make me happy with my home purchase. I greatly appreciated the fact that he never shied away from pointing out the negatives as well as the pluses of different places while leaving the final decision up to me.
We can highly recommend Sophie. Her attention to detail and communication skills are great. Our home was in area that most realtors are not familiar with, but Sophie took extra time to get to know the neighborhood in order to give us quality service. She also brought in a professional photographer to make our home look its best. Even though the listing was in winter, the house sold quickly. With Sophie’s business and people skills, we have no doubt she will be a top realtor in the area.
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More about the author
Osman Parvez
Owner & Broker at House Einstein as well as primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has appeared in the Wall Street Journal and Daily Camera.
Osman is the primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has also appeared in many other blogs about Boulder as well as mainstream newspapers, including the Wall Street Journal and Daily Camera. Learn more about Osman.
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