You have decided that property investment Istanbul is good for your portfolio; research done, people conferred with, now it is time to visit and get a ‘feel for the place’. Istanbul is a city of history and tradition that is also modern and forward thinking. It is also a city that merges its traditions with business. The Turkish business community is welcoming and friendly and there to ensure your consideration for property investment Istanbul goes smoothly and productively. To be successful in your acquisition for property investment Istanbul it might be useful to take into consideration the following tips regarding culture and business in Turkey.
Tips to Consider as you Negotiate for Property Investment Istanbul
- Business in Turkey is oft conducted at a personal level, get to know the people you are dealing with, share some of your own personal details, make friends. First meetings are all about relationship building, ask about children, football is always popular with male colleagues, Turks are proud of their country so question on its history (not political) are always welcome. Shake hands firmly and introduce yourself by name. Turks tend to use first names with the prefix ‘Bey’ and ladies their first name followed by ‘hanim’.
- Do not give yourself a short visit time, expect to spend some time getting to know who you are conducting business with.
- Do not try to fit everything into a day, see the meetings as an opportunity to meet and really get to know the people you are dealing with.
- Expect to partake in drinking coffee and tea; both essential parts of doing business in Turkey. Whist not as long or intense as a Japanese tea ceremony, they do hold cultural significance and time should be taken to participate in them willingly. If invited for a meal, which you will be, the norm is for the host to pay. Sharing the bill is not accepted practice, reciprocate by inviting them to a meal.
- Do get out and about, the best way to view potential property investment Istanbul is to not visualize them from a computer but to go and physically investigate them.
- Expect change of directions in your negotiations, be tough, friendly and nimble! Expect to make concessions and do so in a complimentary fashion.