Autumn 2018
Autumn
2018
Today’s Content Our Autumn Webinar includes … Why Have a 4 Year Mandatory Review? Never Split the Difference.
Why Have a 4 Year Mandatory Review?
4 Year Mandatory Review
4 Year Mandatory Review
To decide to continue Owning the Property
4 Year Mandatory Review
4 Year Mandatory Review After 3.5 years: One or more Members … Need to sell their Equity
4 Year Mandatory Review 25% Trust Deed
75%
4 Year Mandatory Review A good Discipline for other Clients Market Review Further Option Possible Refurb 1
2
3
4
Tenant Upgrade
4 Year Mandatory Review There is a further Reason
Other Software Over 8-10 years Overwhelming Printouts
4 Year Mandatory Review There is a further Reason 8-10 years is unrealistic 3-4 years … makes sense
4 Year Mandatory Review There is a further Reason Inflation Outgoings Market Rentals
4 Year Mandatory Review There is a further Reason
Buy (+8%)
Sell (+12%) 4
4 Year Mandatory Review My Yardstick is 10% pa After Tax For a Company
For Individuals
Pre-tax Return of 14.3%
Pre-tax Return of 18.2%
4 Year Mandatory Review Peak Peak Trough Trough
4 Year Mandatory Review Peak Peak Lease Period:
2
7
Trough Trough
Never Split The Difference
Never Split The Difference
Chris Voss spent more than two decades in the FBI, and 15 years negotiating hostage situations in places like New York, the Middle East and the Philippines.
All Decisions Are Emotional
Logic & Reason
Never Split The Difference If you can learn how to affect the other party’s emotions … … you can lead them to logical outcomes – without them even realising it’s happened.
Never Split The Difference If you view Negotiation as merely a contest of arguments … THEN you Focus only upon what you plan to say next.
Never Split The Difference
Instead, you should be totally FOCUSED on the other Party.
Never Split The Difference
BODY Language
Mirroring
Never Split The Difference You can also Mirror using …
• Tone of Voice • Speech Patterns • Choice of Vocabulary
Never Split The Difference At the FBI … The principal FOCUS is only on the Words.
Never Split The Difference At the FBI … You repeat the last 3 Words … OR the critical few Words.
Never Split The Difference The main purpose is to …
• Have the other side keep talking. • Confront the other side – without them feeling confronted.
Never Split The Difference Here’s the Mirroring Formula …
• Start with: “I’m sorry …” • Repeat the key words (mirror) • Remain silent (for at least 4 sec)
Never Split The Difference Here’s the Mirroring Formula … “I’m sorry … you’re expecting me to pay $1.2 million for the property?”
Never Split The Difference Labelling The secret lies in being able to Enter into the Conversation currently going on in the other party’s head.
Never Split The Difference Labelling As soon as you detect an emotion or feeling in the other party … calmly put it into words and repeat it back to them.
Never Split The Difference Labelling
• Applying rational words to emotions helps to defuse their intensity.
• You’re validating the other party’s emotion by labelling it.
Never Split The Difference Labelling
• “It seems like …” • “It sounds like …” • “It looks like …” … NEVER use the word “I”
Never Split The Difference Labelling “It seems you’re a little frustrated with the way things are progressing.” … NEVER use the word “I”
Never Split The Difference Labelling Once again, observe a 4 sec silence AND Listen to what they say next. … NEVER use the word “I”
Never Split The Difference Getting the other Party say “No”
• Hearing this is Great News • It doesn’t mean “Never” • NOT their Final position • Clarifies what they don’t want • It gives them a Feeling of Control
Never Split The Difference Getting the other Party say “No”
“It sounds like you want this Negotiation to fail.”
Never Split The Difference The magic of … “That’s right”
• This is the Turning Point. • They are now Labelling what you said as being Correct.
• Trigger the Response when ready.
Never Split The Difference The magic of … “That’s right”
To leave the other party feeling you’re the only one who “gets” them.
Never Split The Difference Calibrated Questions (Apparent Control)
• Your aim is to have the other party
come up with the solution you want … all by themselves.
• Asking open-ended questions without sounding pushy … to allow them to introduce ideas.
Never Split The Difference Calibrated Questions (Apparent Control) What brought us to this point? How would you like to progress things? How could we resolve this issue? How am I supposed to do that?
Never Split The Difference Have them Bid against Themselves • Really, I’m supposed to pay that much? • Your proposal is attractive – I’m sorry, it just won’t work for me.
• I’m sorry … but I am afraid I simply can’t do that.
• I’m sorry … but no.
Today’s Content Our Autumn Webinar includes … Why Have a 4 Year Mandatory Review? Never Split the Difference.
Why Have a 4 Year Mandatory Review?
4 Year Mandatory Review
4 Year Mandatory Review
To decide to continue Owning the Property
4 Year Mandatory Review
4 Year Mandatory Review After 3.5 years: One or more Members … Need to sell their Equity
4 Year Mandatory Review 25% Trust Deed
75%
4 Year Mandatory Review A good Discipline for other Clients Market Review Further Option Possible Refurb 1
2
3
4
Tenant Upgrade
4 Year Mandatory Review There is a further Reason
Other Software Over 8-10 years Overwhelming Printouts
4 Year Mandatory Review There is a further Reason 8-10 years is unrealistic 3-4 years … makes sense
4 Year Mandatory Review There is a further Reason Inflation Outgoings Market Rentals
4 Year Mandatory Review There is a further Reason
Buy (+8%)
Sell (+12%) 4
4 Year Mandatory Review My Yardstick is 10% pa After Tax For a Company
For Individuals
Pre-tax Return of 14.3%
Pre-tax Return of 18.2%
4 Year Mandatory Review Peak Peak Trough Trough
4 Year Mandatory Review Peak Peak Lease Period:
2
7
Trough Trough
Never Split The Difference
Never Split The Difference
Chris Voss spent more than two decades in the FBI, and 15 years negotiating hostage situations in places like New York, the Middle East and the Philippines.
All Decisions Are Emotional
Logic & Reason
Never Split The Difference If you can learn how to affect the other party’s emotions … … you can lead them to logical outcomes – without them even realising it’s happened.
Never Split The Difference If you view Negotiation as merely a contest of arguments … THEN you Focus only upon what you plan to say next.
Never Split The Difference
Instead, you should be totally FOCUSED on the other Party.
Never Split The Difference
BODY Language
Mirroring
Never Split The Difference You can also Mirror using …
• Tone of Voice • Speech Patterns • Choice of Vocabulary
Never Split The Difference At the FBI … The principal FOCUS is only on the Words.
Never Split The Difference At the FBI … You repeat the last 3 Words … OR the critical few Words.
Never Split The Difference The main purpose is to …
• Have the other side keep talking. • Confront the other side – without them feeling confronted.
Never Split The Difference Here’s the Mirroring Formula …
• Start with: “I’m sorry …” • Repeat the key words (mirror) • Remain silent (for at least 4 sec)
Never Split The Difference Here’s the Mirroring Formula … “I’m sorry … you’re expecting me to pay $1.2 million for the property?”
Never Split The Difference Labelling The secret lies in being able to Enter into the Conversation currently going on in the other party’s head.
Never Split The Difference Labelling As soon as you detect an emotion or feeling in the other party … calmly put it into words and repeat it back to them.
Never Split The Difference Labelling
• Applying rational words to emotions helps to defuse their intensity.
• You’re validating the other party’s emotion by labelling it.
Never Split The Difference Labelling
• “It seems like …” • “It sounds like …” • “It looks like …” … NEVER use the word “I”
Never Split The Difference Labelling “It seems you’re a little frustrated with the way things are progressing.” … NEVER use the word “I”
Never Split The Difference Labelling Once again, observe a 4 sec silence AND Listen to what they say next. … NEVER use the word “I”
Never Split The Difference Getting the other Party say “No”
• Hearing this is Great News • It doesn’t mean “Never” • NOT their Final position • Clarifies what they don’t want • It gives them a Feeling of Control
Never Split The Difference Getting the other Party say “No”
“It sounds like you want this Negotiation to fail.”
Never Split The Difference The magic of … “That’s right”
• This is the Turning Point. • They are now Labelling what you said as being Correct.
• Trigger the Response when ready.
Never Split The Difference The magic of … “That’s right”
To leave the other party feeling you’re the only one who “gets” them.
Never Split The Difference Calibrated Questions (Apparent Control)
• Your aim is to have the other party
come up with the solution you want … all by themselves.
• Asking open-ended questions without sounding pushy … to allow them to introduce ideas.
Never Split The Difference Calibrated Questions (Apparent Control) What brought us to this point? How would you like to progress things? How could we resolve this issue? How am I supposed to do that?
Never Split The Difference Have them Bid against Themselves • Really, I’m supposed to pay that much? • Your proposal is attractive – I’m sorry, it just won’t work for me.
• I’m sorry … but I am afraid I simply can’t do that.
• I’m sorry … but no.
