On Episode 22 of REAL TIME, we had the pleasure of speaking with Wes Hall, one of North America’s most influential business leaders, about best practices, and trends in the art of negotiation. Hall shared some practical tips for how REALTORS® can re-enforce their existing skills to support their business as well as understand their own worth.
Hall’s story of success
hasn’t been without substantial hurdles. From humble beginnings, Hall has since
facilitated multi-billion-dollar mergers, solidified his position as a
powerhouse in his field, and is on his way to becoming a household name as the
newest dragon on the CBC’s Dragons’ Den.
“You never hear about the Canadian dream, but the Canadian
dream is alive and well. For me having that picture, it’s really celebrating
the Canadian dream, that you can come from a tin shack and you can end up at
the top of corporate Canada on Bay Street,” he said about a photo of himself
and his grandmother standing in front of their tin shack home before he moved
to Canada.
Hall is paving a path for himself and so many others as he continues to be a bold voice for anti-racism through his BlackNorth Initiative.
We asked Hall about common
barriers when entering negotiations, like the emotions REALTORS® often
have to navigate with their clients as they buy or sell real estate.
“If you don’t understand the emotional attachment that people
may have to that piece of asset that they’ve cherished for so long, that have
built their value… If you don’t appreciate it, that it’s my future, and don’t
really treat it like that, then all of a sudden I don’t want to do business
with you because doing any type of business, especially in that space, it’s
about trust. I have to have trust and confidence in you that we’re going to
have a good working relationship, you’re going to respect what I bring to the
table, and I’m going to respect what you bring to the table,” he said.
In high-pressure situations, there are many things to keep in mind and priorities to manage, so Hall walks us through tips for maintaining composure and securing the best possible result for yourself or your client.
“Every single negotiation we go into, we have to figure out who’s on the other side of that negotiation. Some people are prepared to pay more than others, some people are just not,” he said.
We also discuss the importance of trust and strategy in negotiations. Hall outlined how he has helped his clients feel comfortable with leaving some of the biggest, most sensitive transactions of their lives in his hands, and how you can apply these principles to most negotiations.
Listen to Episode 22 of REAL TIME to learn about Hall’s journey to success, and how to become a more impactful negotiator.
