Communication and Negotiation Flashcards
What do good negotiation skills include
Agreeing clients objectives and strategy
Detailed research and preparation
Preparing win win and fall back options
What is and isn’t negotiable
Understanding parties position
Creating constructive environment to negotiate
Decide on method - phone, meeting - email
Maintain communication
Know when to walk away
What are the pitfalls of a technical conversation on the phone
The client may not remember what was agreed therefore I ensure I always follow up with an e-mail
How do you adapt your communication style
By building a relationship with the client I understand the type of communication is preferred and establish when I need to adjust depending on the scenario
How do you communicate effectively
If I speak on the phone I ensure I follow up any instruction with an e-mail
Why is it important to communicate clearly
It is important to do this to build trust and show competence. By doing it regularly promotes trust and helps to build relationships
Following the onboarding of Gateshead Shopping centre, the client requested you to review the unallocated Cash. Please explain what you did
Following the onboarding there was a lot of unallocated cash. After reviewing each lease it was clear the majority of the unallocated cash didn’t have anywhere obvious to apply. Therefore I constructed a letter that I was able to amend depending on the situation. After the approval from my client I sent the letter to all tenants it applied to.
What did you do if the tenants didn’t respond
I sent a further e-mail or letter confirming that if we did not receive a response in a further 7 days then we would allocate to existing arrears.
What did you do if there was no arrears to apply to?
I sort legal advise from our solicitors and they advised, providing we showed reasonable attempts to contact the tenants then we could write off the money. Therefore, I sent further letters to the companies registered addresses. Those that did not respond are in the process of getting written off but with the advise to the client that should the tenant come back to claim the funds we would need to return this to them.
When carrying out a valuation in Crawley, you dealt with the collection of comparables. Can you tell me how you determined what the comparable evidence was
During the inspection I made note of letting boards near the subject property. When returning to the office I then looked at the brochures for these properties and also researched the rest of the letting agents websites for any others. I then requested from our internal database any recent transactions for the local area. I looked for properties of similar size, condition and location.
What are the valuation stats for Crawly
Property is tired and dated
Tenant is Job centre provides security as the tenant is the government as they are not going to default or at as much risk as say like a sole trader could be.
1,500 sq ft
Over 3 floors
No breaks
expires March 2027
£25 per sq ft
Market value £267 per sq ft 4.4m
10 comparables for market rent all local
5 comparable for market value all leased to Secratary of State
St albans, Staines, Bristol and Milton Keynes
5 comparables in local area one being the subject property
1980s building
NIY 6.5%
