Real Deal REInvestor Network

Negotiation Tips: Apply These Tips on Negotiation and Prosper

I took hours out of my day to share these negotiation tips with you, and I while I hope you appreciate the effort, I hope more that you APPLY these principles and tips on negotiation (just not if you ever negotiate with ME ;)). Either way… maybe I will just go ahead and save the best few tips on negotiation for myself…But here’s a few of the many great negotiation tips members of our team have learned and observed, as well as used and had used on us.

Negotiation Tips

16. He who mentions numbers first loses.

17. After a long negotiation if and when you push too hard and they come back with "At this time we have decided to disengage from any further negotiations with you on this deal"...I learned the hard way that you can ONLY regain the upper hand if you don't respond at all. At ALL. Don't do it. Put the phone down. Don’t hit send on that email. Give the stamps a break. Wait. Just let it simmer.

 18. Use what negotiation tactics people use on you to get better. For instance, use "At this time we have decided to disengage from any further negotiations with you on this deal"- unless they read this post they won't no how to deal with it. If they need the deal more than you do, they will acquiesce and come back to the table willing to give you more.

19. Storm out of the room. In a controlled manner. Don't actually be mad. If you're mad you've lost control. Don’t lose control, just let them know that something was so unacceptable you would rather be gone than consider it.

20. If you slam a shoe down on the table, make sure you're still wearing two shoes (or it will looked contrived). Yes, that’s a famous negotiation tip and one many will remember being used by the Soviet leader Kruschev on the world stage

21. Don't try to be someone you're not. There are different negotiation styles. Find yours by trial and error. Not all of these negotiation tips will be best for you. Some are me, others are not, find what works for you.

22. Team up with someone who complements your negotiating style; they call it good cop bad cop for a reason. Two good cops don't push hard enough and two bad cops push too hard.

23. Control your body language. This is one of the simplest tips on negotiation to mention, but one of the hardest to explain. And even harder to master. But it’s that much more powerful if you can, because so few can truly do it.

24. Watch their eyes. The eyes are windows to the soul.

25. Learn to use leading questions, that prompt the other person to give the response(s) you’re looking for.

26. Tell them what's going to happen next: "here's what we're going to do..."

27. Understand Ziff's Principle of Effort (when someone has time invested into a deal in a considerable amount they will work harder- i.e. give more to you-- than risk losing the deal)

 28. Use the salami technique. Get what you want in small, incremental slices.

29. Be the first to put it on paper. You control the language. It’s what’s on paper that will matter most in the end.

30. If they want to use their contract, let them! We will use my addendums. Addendums supersede the main agreement.

Verbal Judo and Negotiations in Real Estate Investing

Verbal judo black-belt? Yeah, I mean these tactics to master negotiations are exactly that. Use these words, ideas, posture, attitudes, and techniques and you can accomplish anything in this world using negotiation. Money follows VALUE, and in negotiations the whole secret is to create value if you want to master negotiations.

Verbal Judo and How to Master Negotiations

1. You can't learn negotiation tactics from a book.  Find someone who is good, observe them and model what they do, how they talk, what they say (and don't say). Ask them questions.

2. Use the power of silence. People will rush to fill it. Let THEM feel the unease of silence.

3. Knowing when to go on the attack ("offensive") is easy-- always.

4. Learning how to feign retreat on an issue or point (only to attack a different way) is essential to verbal judo success.

5. Always be more prepared than the guy sitting across from you.

6. Watch "Two for the Money", "Thank you for Smoking", "Thirteen Days" (Costner), "Thomas Crown Affair" (Brosnan), “The Devil’s Advocate” (Pacino), “The Negotiator”, and believe it or not "Pretty Woman". While there’s some questionable morality in some of these movies, there are nuggets of negotiation wisdom in each that if applied can make you millions— without compromising your morals.

7. Learn how to argue instead of negotiate when appropriate

8. One who would master negotiations must understand that a raised voice commands respect only when it is genuine

9. The most powerful word you'll ever need to counter an offer you don’t like: "WHAAAT?!?" A real verbal judo black-belt uses tone of voice as much or more than words to communicate.

10. Remember- you don't get what you deserve, you get what you can negotiate. Using these negotiation tactics can help us get what we know we deserve. All of it.

11. Remember "if you don't ask, you don't get". Always ask.

12. Ask questions. Ask questions. Ask questions. Questions are the blows of verbal judo. Ask, ask, ask. Just don’t ask me why!

13. Practice negotiation as much as possible. At the hotel. In line at the coffee shop. On the airline ticket counter. On the golf course. In the farmer’s market. With your spouse. In front of the judge. With your kids, etc

14. Remember, the buyer is in control (Unless you are the seller). Who is in control? You are. Have that attitude. Feel it in your gut: “I am in control”.

15. Read Robert Cialdini's "Influence: Science and Practice"— it will blow your mind.