THE IMPACT OF GENDER DIFFERENCES ON NEGOTIATION

Abstract

In midst of so much rapid-fire and dynamism in today's real estate industry, negotiations are no longer optional. It has become a basic survival skill. Inevitably, the need to understand the factors determining a successful negotiation is crucial for industry players so as to protect their interests. Other attributes such as power, experience, strategies and tactics, relationship with the other party, time and venue, planning and preparation and cultural orientation also affect the negotiation outcome. All these factors, together with several outstanding qualities of a successful negotiator such as being a good communicator and listener, will be examined in this study to test their validity. Nowadays, more women are entering the real estate industry. Gender differences in recent years have generated general awareness and a series of debates. With this, how differences in gender affect negotiation will also be evaluated in this study, which comprises a sample size of 358. The results of the study have shown no significant gender differences in their behavior in negotiations. Respondents also expressed no preference as to who is a better negotiator. A further examination on whether age differences could influence negotiation outcomes was also carried out. Unlike gender, the different age groups have surprisingly displayed some discrepancies in a few areas such as power and experience. This was prevalent in the younger age groups when contrasted to the older ones. This study confirms the proposition that there are significant differences between ages but not the proposition that gender differences do affect negotiation outcomes.