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7 Handy Tips You Can Use in Your Next Negotiation

4 November, 2020 by Chris Lang Leave a Comment

IN ANY NEGOTIATION there will always be times when you need to think on your feet. To help you, here are a few tips you might care to add to your Toolbox.

Tip # 1: Treat Negotiating as a Process

[Read more…]

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Filed Under: *Expert Panel, Industrial Sector, Market Sectors, Negotiating, Offices, Property Insights, Retail Sector Tagged With: 9-step formula, arranging your finance, Australia, Buying Criteria, chris lang, commercial property investing, commercial property investment, commercial property made easy, commercial real estate investing, commercial real estate investment, controlling the valuation, due diligence, final judgement, Investment Objectives, locking in your finance, maintaining and upgrading, Property Management, sifting and sorting opportunities

How Do You Find Top Commercial Property Deals?

27 March, 2013 by Chris Lang Leave a Comment

Being creative will deliver you Top Commercial property dealsMOST INVESTORS believe keeping an eye on the daily media will provide you with the best opportunities.

Others will mainly focus upon distressed sales like “Mortgagees’ Auctions”.

However, by doing that, you are effectively pitting yourself against considerable competition.

And while the property itself may be First-class … you are unlikely to end up with a “top deal”. [Read more…]

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Filed Under: Investment Opportunity, Negotiating, Opportunities Tagged With: Australia, chris lang, commercial property investing, commercial property investment, commercial property made easy, commercial property real estate, commercial real estate investing, commercial real estate investment, investing in commercial property, investing in commercial real estate, Melbourne commercial property, property commercial

​Being Creative Transforms Commercial Property Deals

21 June, 2012 by Chris Lang Leave a Comment

Creativity brings massive rewards, at virtually no cost.PRICES may be rather attractive at the moment, but the days of quick-and-easy financing are over.

Furthermore, the tight credit market is making it tough for some investors to secure loans.

Nonetheless, with a little creativity and preparation, you can often bring otherwise-doubtful funding options within your reach. [Read more…]

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Filed Under: Finance, Investment Opportunity, Negotiating, Opportunities, Training Material, X~Factors Tagged With: Australia, chris lang, commercial property investment, commercial property made easy, commercial property real estate, commercial real estate investment, investing in commercial property, investing in commercial real estate, Melbourne commercial property, property commercial

Commercial Property Negotiating: The Framework for a Great Deal (Part 3)

29 March, 2012 by Chris Lang Leave a Comment

You need to keep asking Questions, right until the end.OVER THE past couple of weeks, you’ve quietly worked your way through the first 14 questions … as part of your prep-work for each Negotiation.

And today, you’ll be covering the final 6 key questions — to help ensure your success.

So, here’s what you also need to be asking: ARE YOU …

  1. Remaining Professional?

    You simply can’t afford to lose your temper … and still retain respect, from the other party.

    People can be insulting, and it is all too easy to respond aggressively. But sometimes they’re just doing that to test you, or your patience. So you may simply need to suggest adjourning the negotiations … to give them a chance to regain their composure.

    If it is a genuine outburst on their part, they can cool down. And if it’s merely a ploy … then, they’re going to look rather stupid.

  2. Aware of the Benefits & Consequences?

    You need to try and understand the benefits and consequences for each party in the Negotiation.

    Only then, can you properly decide when (and how) to make any concessions; also when (and how) to stand firm, with your own needs and requests.

  3. Employing the Power of Silence?

    Work on becoming comfortable with silence. Because, most negotiators feel the need to jump in with some comment, whenever there is an awkward pause in proceedings.

    But, whenever the answer to your question will actually commit the other party … say absolutely nothing more. Otherwise, all you’ll get is further conversation.

  4. Avoiding On-the-spot Decisions?

    Never commit on a major point, unless you are quite sure of your answer and you’re on solid ground.

    No matter what the pressure … all you need simply say is: “I may need to sleep on that, I’ll get back to you tomorrow”.

  5. Considering the Telephone?

    By choice, negotiations should commence face-to-face.

    However as things progress, you’ll sometimes find more progress can be made by phone — because it takes out all the emotion, and allows you to simply focus on the rational items, rather than any personal issues.

  6. Documenting the Final Agreement?

    Sadly, too many people leave the negotiating table with only a handshake. A short summary (by way of “heads of agreement”, a confirming letter or an email) is all you need to tie down the deal.

    You need to have some form of documentation at the end, if this is a serious negotiation.

    What you might say is: “Let’s make a few notes on the points we have agreed; for each of our files and just initial it.”

    Without a written agreement, you'll always have arguements.This is vital. Because, it provides a basis for the contract to be prepared. And when the contract arrives, you can confidently say: “That’s not what was agreed.”

    If you both have the same set of notes, it’s easy to verify that the contract has been drawn incorrectly.

    Otherwise, you’ll quickly discover how recollections can often change — between reaching agreement and the formal contract emerging. As a result, you are forced to restart the negotiation again.

Bottom Line: Hopefully, this has helped you to gain a complete “helicopter view” of how each component of a Negotiation ties in with all the others.

And with the framework at your fingertips, you are now better equipped to tackle your next negotiation.

 

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Filed Under: Industrial Sector, Market Sectors, Negotiating, Opportunities, Retail Sector, Training Material, X~Factors, Your Exposure Tagged With: chris lang, commercial property investment, commercial property real estate, commercial real estate investment, investing in commercial property, investing in commercial real estate, Negotiating, property commercial, training

Commercial Property Negotiating: The Framework for a Great Deal (Part 2)

22 March, 2012 by Chris Lang Leave a Comment

More questions you need to ask along the wayLAST WEEK, we made a good start by scoping the first 8 questions you need to keep asking yourself … as part of your prep work for each Negotiation.

So let’s pick up from where we left off — here your next 6 questions. And you’ll recall that before (and during) your negotiations, you need to be asking: ARE YOU … [Read more…]

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Filed Under: Industrial Sector, Market Sectors, Negotiating, Retail Sector, Training Material, X~Factors, Your Exposure Tagged With: chris lang, commercial property investment, commercial property real estate, commercial real estate investment, investing in commercial property, investing in commercial real estate, Negotiating, property commercial, training

Commercial Property Negotiating: The Framework for a Great Deal

15 March, 2012 by Chris Lang Leave a Comment

Asking these Key Questions will help you succeed as a Negotiator.EVERY NEGOTIATION can be very easily broken down into its component parts … once you understand what is really going on.

Over the next few weeks, I’ll be posing 20 questions — which (when taken together) are intended to help you fully grasp everything involved. [Read more…]

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Filed Under: Industrial Sector, Market Sectors, Negotiating, Retail Sector, Training Material, X~Factors Tagged With: chris lang, commercial property investment, commercial property real estate, commercial real estate investment, investing in commercial property, investing in commercial real estate, Negotiating, property commercial, training

Negotiating to Buy Commercial Property

1 December, 2011 by Chris Lang Leave a Comment

WHENEVER you find yourself with Power during a negotiation, you are then in a position to have far more control over the ultimate outcome.

Negotiating requires Strategy & TacticsHowever, as you can appreciate, Power can take on several forms. And just to give some examples, you could have the … [Read more…]

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Filed Under: Negotiating, Training Material, X~Factors Tagged With: chris lang, commercial property investment, commercial property real estate, commercial real estate investment, investing in commercial property, investing in commercial real estate, legitimacy, money pressures, negotiating strategies, negotiation, negotiators, power of persistence, property commercial, risk taking

How 7 Key Negotiating Tactics
Helped Me Win at The Table

20 August, 2008 by Chris Lang Leave a Comment

THE OTHER DAY, I covered 5 Mistakes that you need to avoid. Below, you’ll now find 7 Winning Tactics you should look to employ.
[Read more…]

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Filed Under: Negotiating Tagged With: chris lang, Negotiating

“Hardware Lane warehouse
goes at wholesale price”

14 July, 2008 by Chris Lang Leave a Comment

67-73 Hardware LaneTHIS IS how The Age (on 9 July) described this recent purchase, which I successfully negotiated for one of my interstate clients.

Managing to reduce a $7.2 million reserve price down to a final figure of $6.4 million … resulted in a saving of almost $1 million.
[Read more…]

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Filed Under: Investment Opportunity, Negotiating, Offices, Retail Sector Tagged With: contract price, melbourne, Negotiating, offices, price, property_workshop, warehouses, wholesale

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