Negotiating a deal maybe very rewarding if one knows how to prepare oneself prior to negotiating. In my Interview with Reina Orozco, Agency Director for BMG Talent Agency, I asked her the following questions relating to how to negotiate:
1. The first question is with your expertise in working in the entertainment industry for a huge talent agency how do you separate the people from the problem when negotiating with the client a rate for the models? Reina stated that she keeps the talents best interests foremost to get what they are worth regarding hourly and day rate. As well, Reina emphasized that it is important to keep the client happy to within the negotiation but not to undersell her talent. Thus, the client pays the talent based on his or her experience.
2. Do you have a B.A.T.N.A, which is the best alternative to negotiated agreement before you go into negotiation? In other words do you have a plan B an alternative solution to give you more power in a negotiation. Reina stated that she always comes prepared with a back up plan and that plan is for the client to book all the models (talent) on a shoot at a better rate of 20%.
3. How do you reach a mutual agreement amicably in your negotiation? Reina told me that she puts the range out there in the negotiation of what her models rates are and it varies between $1000, to $2000 based on the model and his or her experience. Therefore, the negotiation runs smoothly and everyone wins.
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