The practice briefing aims to provide real estate professionals and negotiators with a superior understanding of negotiation process design to maximise real estate disposition outcomes. The purpose of this paper is to discuss the aforementioned objective.
This is an expert opinion piece that merges the practical anecdotal knowledge from a real estate expert and a professional negotiator. This opinion piece results from the identification of an underappreciated pattern that the two experts uncovered while discussing several real estate disposition cases, namely the importance of designing a negotiation process to maximize the positive impact of real estate disposition strategies.
Proactively crafting a negotiation process and matching the same to leverage the chosen real estate disposition strategy, instead of relying on a standard negotiation approach across the board, enhances the odds of negotiating superior outcomes.
In this practice briefing, real estate professionals and even negotiators of other assets can become more aware of the plurality of value drivers, consider the most attractive potential buyers, then use these two variables to craft the optimum disposition strategy for their asset, as well as match a negotiation process out of four main possibilities: 1-to-1, 1-to-few, closed-to-many and open-to-many.
The originality comes from demonstrating based on the authors' expert opinion how negotiation process is an important variable in real estate transactions, and how the parties can shape the negotiation process to their conditions, variables and preferences.
