Podcast
Questions and Answers
What is a key aspect of being a good negotiator?
What is a key aspect of being a good negotiator?
What is emphasized as important in a successful negotiation?
What is emphasized as important in a successful negotiation?
What is the recommended approach to negotiation?
What is the recommended approach to negotiation?
What is the first step in a successful negotiation according to the text?
What is the first step in a successful negotiation according to the text?
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What is the better response to 'the price is too high' during a negotiation?
What is the better response to 'the price is too high' during a negotiation?
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How should one view negotiation according to the text?
How should one view negotiation according to the text?
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What is the increasing need in the Zoom-centric world of remote work?
What is the increasing need in the Zoom-centric world of remote work?
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What is essential for implementing a company culture based on data?
What is essential for implementing a company culture based on data?
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What was the initial assumption about the duration of the pandemic?
What was the initial assumption about the duration of the pandemic?
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What is the last thing a people-centered business like property management wants to be stuck doing?
What is the last thing a people-centered business like property management wants to be stuck doing?
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What do most homeowners understand they need to protect their personal asset?
What do most homeowners understand they need to protect their personal asset?
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What should one be willing to do when entering a negotiation, according to the text?
What should one be willing to do when entering a negotiation, according to the text?
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What does Harvard Business School professor Deepak Malhotra advise for negotiations?
What does Harvard Business School professor Deepak Malhotra advise for negotiations?
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What is essential in negotiations according to the text?
What is essential in negotiations according to the text?
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What is described as part of the negotiation process to keep both parties happy?
What is described as part of the negotiation process to keep both parties happy?
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What is crucial to do after a successful negotiation?
What is crucial to do after a successful negotiation?
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What do property managers negotiate according to the text?
What do property managers negotiate according to the text?
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What advantage do property managers have in negotiations with vendors?
What advantage do property managers have in negotiations with vendors?
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What is crucial for staff in negotiations according to the text?
What is crucial for staff in negotiations according to the text?
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What is considered acceptable in negotiations to protect one's interests?
What is considered acceptable in negotiations to protect one's interests?
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What role do non-verbal cues play in negotiations according to the text?
What role do non-verbal cues play in negotiations according to the text?
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How can non-verbal cues be utilized in negotiations according to the text?
How can non-verbal cues be utilized in negotiations according to the text?
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Study Notes
Negotiation Strategies for Property Managers
- Before negotiations, research and understand market rates for services and parties involved
- Harvard Business School professor Deepak Malhotra advises a learning mindset for negotiations
- Active listening and paying attention to nonverbal cues are essential in negotiations
- Making concessions is part of the negotiation process to keep both parties happy
- It's crucial to get the results of every successful negotiation down in writing
- Different parties want different things, but negotiation skills remain the same
- Property managers negotiate base price and fees, while residents negotiate rent deals
- Vendors want your business, giving you an advantage in negotiations
- Staff may negotiate salary or vacation days, and understanding market rates is crucial
- Honesty is crucial in negotiations, but not disclosing everything is acceptable to protect your interests
- Non-verbal cues such as eye contact and posture play a significant role in negotiations
- Using non-verbal cues can convey a genuine attitude and put the other party at ease
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Description
Sharpen your negotiation skills as a property manager with this quiz. Learn about market rates, Harvard Business School professor Deepak Malhotra's advice, the importance of active listening and nonverbal cues, making concessions, and the significance of putting successful negotiations in writing. Understand the different needs of parties involved, such as residents, vendors, and staff, and the role of honesty and nonverbal cues in negotiations.