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Do you have the traits that make you a powerful negotiator?

(BROKERAGE NEWS) Negotiating doesn’t have to be rocket science. Find the strengths that good negotiators have and find them in yourself to use to your advantage.

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Negotiating tactic

The literature on negotiation often points to the blunders and potentially sabotaging opportunities. Ultimately, negotiation is a skill built through practice and learning, but there is a fair amount of evidence suggesting that our individual differences in personality can impact our negotiation skills.

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It’s important to remember however, that personality merely interacts with other key predictors – like beliefs about negotiation, your conflict style, cognitive ability, and observable characteristics like attractiveness, age, and gender. Situational characteristics, like whether the bargaining is distributive vs. integrative, also determine which personality factors are either helpful or a liability.

Five factors

Of the Five Factor Model, particular attention is given to the role of extraversion, agreeableness, and conscientiousness. Extraversion refers to the degree of which someone is outgoing, socially energetic, and talkative. Agreeableness is a personality trait that is shown in characteristics like warm, kind, sympathetic, cooperative and considerate.

Finally, conscientiousness is a trait of carefulness, characterized by self-discipline, or planned behavior.

For distributive bargaining, which is often more competitive, both agreeableness and extraversion could be a liability to bargaining success. A fourth factor, neuroticism, can lead to ineffective negotiation strategies, and can make you feel less successful with a bargain even if it ends in your favor.

Self-monitoring, or the tendency to examine your own behaviors and the impact it has on others, can also be an asset on negotiation, as those who are self-absorbed or unable to determine their impact on others are likely to fumble and fail to address social cues, negative feedback, or build a relationship – all of which hinder negotiation.

Overly narcissistic or Machiavellianism in personality could be detrimental in negotiations – as people find themselves unable to negotiate with you because you can’t be trusted or are too focused on your own interests. (Dark Triad personality traits include Narcissism, Psychopathy, and Machiavellianism. You can find a little primer and some controversial information here.)

More than one factor

While personality can help determine what we may do – it’s not the only thing that controls our behavior. You should leverage your emotional intelligence and your existing knowledge, skills, and abilities to help determine what the best approach is. Here are things to consider when deciding how to leverage your personality for successful negotiations:

  • What is the goal for negotiation? Is it distributive or integrative bargaining?
  • Who is the person you’re negotiating with? Consider: gender, age, culture, objectives, communication style, history, or position.
  • What are beliefs you have about this person(s), or that this person(s) have about you.
  • Are you equipped with the right knowledge for this situation?
  • What is your emotional state, and the emotional state of the person(s) you are negotiating with. (leveraging those EQ\emotional intelligence kills!)

Sharpen your emotional IQ

Individual differences do matter in performance, and may account for nearly half of the variation in performance across situations. What is equally important however, is leveraging individual differences with situational factors, and determining what the correct approach is.

Practicing emotional intelligence skills can be helpful as well. Finally, take a quality, peer reviewed personality assessment and develop some insight to your style and personality traits to better equip you to handle negotiation situations.

#negotiate

Kam has a Master’s degree in Industrial/Organizational Psychology, and is an HR professional. Obsessed with food, but writing about virtually anything, he has a passion for LGBT issues, business, technology, and cats.

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Professionalism

Bill Gates’ big regret of a simple command haunts him, what haunts you?

(EDITORIAL) If BIll Gates is still living with a big regret, it’s time to ponder your own, your own humanity, and consider moving past it in a healthy way.

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It has come to light that Microsoft founder Bill Gates regrets some of the original design decisions of the PC. Namely, the CTRL+ALT+DEL command that allows you to log in to the computer, due to its lack of simplicity when trying to access a key part of a computer’s operating system.

I know Mr. Gates probably has other regrets when looking at the span of his more than thirty years involvement with being associated with one of the most profitable companies in the world. I am assuming that you also have some regrets you have also in regard to your own business and/or career.

We all do.

According to psychologists, regret occurs when an something perceived as an error is made that has some personal accountability tied to it. If you’ve ever been a part of a business team, supervising employees, or been the boss, you’ve had a wealth of personal accountability. And, since you’re human, you’ve definitely made some mistakes.

One of my former bosses told me after a long day, in which I made some mistakes: You did the best you could have with the information you had. More than likely, if you’re agonizing about that mistaken car reservation or wrong decimal point, you made a normal human error. Even if it isn’t a small day to day thing, but perhaps a big issue with some big consequences, you can move on from that. It will be okay.

A great way to move on from a failure or mistake in business is to use the situation as a lesson for the future. Chances are, if you’re a team leader who messed up a relationship with an agent, you will have more agents in the future to avoid that error with.

Learning from your mistakes, and using your errors as fuel to increase your motivation for the next project, is a great way to deal with regrets healthily. If you don’t process your regrets, you can deal with a wealth of mental and physical health problems like chronic stress, depression, and damage to the systems that regulate your hormones.

You will have mistakes, but those mistakes have gotten you to this point in your life. It’s impossible to guess how your life would change if you were able to go back and fix that one thing that feels like a turning point in your business life. Living in spite of regrets is one of the hardest challenges in life to face, but just like Gates, you will accept the past and move on.

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Professionalism

Recognize and use free time at work like the gift it is

(PRODUCTIVITY) Free time during your workday can lead to furthering your mind and productivity.

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Clocked in but clocked out

We’ve all had those slow days at work where we’re looking for ways to kill the time until the clock strikes five.

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While it can be tempting to use this time to text or mess around on the Internet, there are much better ways to use that free time that will make your future so much easier.

Cleanliness is next to godliness

First off, tidy up your workspace. Papers and items have a way of accumulating and may be distracting you even if you don’t realize it. By organizing your stuff and throwing away what you don’t need, you’re able to breathe and focus within your workspace.

It also does wonders for your work brain to clear up your email inbox.

Once that’s all done, plan out the rest of your work week. Make a list of the major goals you’d like to accomplish and then a sub-list of how you’ll knock those goals out. Update your calendar and make sure everything is on track.

Social media, networking, and research

It’s also beneficial to use this downtime to further yourself and your organization. Three ways you can do this is through: social media, networking, and research.

If you have access, take some time to look through your company’s social media and see what can be done to enhance it. Either throw up some posts yourself or pitch ideas to the social media manager.

Networking can be done in this small amount of time by sending out “catch up” emails to old colleagues, “welcome emails” to new clients or introduction emails to LinkedIn contacts.

Send them a “how’s it going?,” tell them what’s new with you, and see what they have going on. You never know where networking can lead so it’s always good to stay in touch.

With research, see what the latest trends are in your field and study up on them. This may give you new ways to look at projects and tasks at hand. And, it’s always beneficial to have continued learning.

Get Smart(er)

While on the subject of continued learning, take this time to mess around with something you may not feel completely knowledgeable of. Maybe dig around RPR data, perhaps practice using different computer programs it is never a bad a idea to nourish your brain.

Having free time during the workday is something of a gift. If you can help it, try not to waste it.

#FreeTimeNotWasteTime

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Real Estate Brokerage

The housing shortage is real and so are these solutions

(BROKERAGE) The housing shortage is real but former San Jose Mayor, Chuck Reed, has a few solutions to it.

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Real life shortage

If I learned anything from my high school economics class it’s that when you have a demand higher than your supply, that is a shortage.

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Shortage is exactly where the housing market is right now and exactly where it needs to stay.

Quick run down

Because of the housing shortage, home prices are rising in ways that people can’t afford.

In California specifically, the housing shortage has become a housing crisis. And on top of that crisis, the state seems to be dragging its feet for a solution to it. One former San Jose Mayor, Chuck Reed, has a few ideas on how to solve both the crisis in California and the shortage sweeping the nation.

Response not reaction

The first response to the housing shortage Mr. Reed suggests should be taking steps to deconstruct the massive amounts of hoops that local governments put out for developers and builders to get plans approved.

Those hoops include, but are not limited to, occupancy limits, profit limits, and eviction rules.

We can deconstruct these hoops through legal action at the local level all the way up the chain to the Supreme Court.

Another response to the housing shortage Mr. Reed proposed is to change the states’ fiscal restrictions to favor housing.

Granted, he is referring to California’s fiscal restrictions but California isn’t the only state to impose restrictions like that.

In terms of the other states, modification of property tax allocations would allow for housing permits to generate enough money for cities to pay an increase service demand.

Reed also would like to see other reviews, like environmental review, streamlined so that they can’t be used to block developments for arbitrary reasons such as neighbors not agreeing with the color scheme.

In the end, Reed’s biggest response is for people to start electing legislators who understand the needs and growing pains of the housing market so that you already have the people in place to make changes.

#HousingShortage

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