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Michael Yardney Podcast

Insightful, educational and always interesting

Listen and learn from Michael Yardney, Australia’s most trusted property commentator and a group of experts as they discuss Property Investment, Success, Money and Finance to help you multiply your wealth.
While Michael is best known as a property expert, he is also Australia’s leading authority in the psychology of success and wealth creation. You’ll enjoy the way he challenges traditional finance advice with innovative ideas on real estate investing, personal finance and wealth creation. 
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Jan 14, 2019

Are you a good negotiator?

Negotiating is something we it constantly in all aspects of our life, from relationships to which path you choose to take on a crowded street.

And of course, negotiation is one of the skills developed by savvy property investors, business people and entrepreneurs

Some people are very good at negotiation, while others simply take what the other party is willing to give them.

What is the difference between those two groups? The first group knows how to negotiate.

Today I’ll be talking about negotiation with the man who wrote the book on negotiation – in fact, he actually wrote 3 books on the subject – Wayne Berry. Wayne is the CEO of Top Gun Business Academy.

Wayne has probably trained more successful salespeople than anyone else in Australia. So listen to our conversation to learn what you’ve been missing when it comes to negotiation.

Some of the highlights from today’s discussion:

  • Life is one big negotiation: most things we want or need are either owned or controlled by other people, so it’s important to be able to negotiate to get what we want.
  • Life is easier if you’re a good negotiator.
  • There are three leverage points in negotiation:
  1. Information
  2. Time
  3. Power
  • The first step of negotiating is to gather all of the information that you think is relevant around the situation.
  • Attitude and expectation are great sources of power. Have an attitude that everything’s negotiable is very empowering.
  • Common mistakes people make in negotiation:
    • Not realizing that everything is negotiable.
    • Not doing any planning or preparation for the negotiation.
    • Talking too much and not listening carefully.
  • Negotiating will require different tactics depending on the personality of the person you’re negotiating with.
  • You first need to build rapport and trust to negotiate effectively.
  • If you have more options you’ll have more power in a negotiation, so if you don’t have other alternatives, you should create them.
  • Concessions should be traded and never given away. Find out what the other party can do for you.
  • Sequence of a negotiation:
    • Preparation
    • Figure out what the other party is likely to want
    • Clarify what it is that you want
    • Understanding the decision-making process of the other party
    • Find out if there are any other parties who will be involved in the decision-making process and involve them early on 

Links and Resources:

Michael Yardney

Metropole Property Strategists

MUST ATTEND this year: - 2019 National Property & Economic Market Updates – in Sydney, Melbourne and Brisbane

Wayne Berry – Top Gun Business Academy

Special Report – Sources of Power in a Negotiation

Special offers from Wayne Berry – Online Sales and Negotiation Skills Program

Some of our favourite quotes from the show:

“A thinker has to be sold to, negotiated with in a very, very different way to an outgoing person like you or me, or analytical people need to be sold to differently than creative people.” –Michael Yardney

“If you don’t like the circumstances, change the circumstances.” –Wayne Berry

“We’re not taking advantage of people when we’re doing these negotiations, you shouldn’t feel that way. You’re taking advantage of the situation.” –Michael Yardney


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