622: 7 Expert Negotiation Tactics That Will Put a Buyer/Seller/Tenant on Your Side

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Jun 14, 2022

Unlock the secrets to successful negotiation in real estate without the need for harsh tactics. Discover how knowing the other party's desires can lead to better outcomes. Learn about price anchoring and the power of likability to foster collaboration. Explore the art of empathy and active listening to strengthen agreements. Plus, get insights from real-world examples and actionable strategies that ensure both sides feel like winners, making negotiations smoother and more effective.

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ADVICE

Baseline Adjustment

Adjust the other person's baseline in negotiations.
Explain the rationale behind your desired price, rather than just stating it.

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ANECDOTE

Baseline Adjustment Example

David and Rob used baseline adjustment when buying a house.
They highlighted reasons why the property might be overpriced to encourage the seller to lower their expectations.

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ADVICE

The Spectrum Technique

Use the "spectrum" technique to help clients understand trade-offs.
Illustrate the relationship between competing priorities (e.g., appreciation vs. cash flow) to find a suitable balance.

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Mastering Negotiation in Real Estate

02:56 • 2min

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Mastering Real Estate Negotiation

04:53 • 10min

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Navigating the Investment Spectrum: Risk vs. Reward

14:38 • 2min

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Mastering Negotiation Through Empathy

16:10 • 19min

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Navigating Real Estate Management Challenges

34:57 • 3min

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Mastering Negotiation Tactics

38:14 • 21min

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Navigating the Challenges of Real Estate: Essential Skills and Resources

59:04 • 2min

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Navigating Online Identity and Authenticity

SOLD provides a detailed look at how successful real estate agents build their business, close deals, and generate commissions. The book offers practical advice on lead generation, sales funnels, and client management, helping agents overcome common hurdles and achieve success in the industry. It is designed for both new and seasoned agents seeking to refine their business skills and become top producers.

Pitch anything

An Innovative Method for Presenting, Persuading, and Winning the Deal

Oren Klaff

In 'Pitch Anything,' Oren Klaff introduces a unique approach to presenting and negotiating, emphasizing the importance of understanding the psychological dynamics involved in sales and negotiation. The book provides practical strategies for gaining control of the presentation process, creating tension to capture the audience's attention, and securing better deals. Klaff's method is designed to help individuals present their ideas more effectively and persuasively, without relying on conventional sales techniques.

Buy, Rehab, Rent, Refinance, Repeat

The BRRRR Rental Investment Strategy Made Simple

David Greene

This book by David M. Greene outlines the BRRRR (Buy, Rehab, Rent, Refinance, Repeat) strategy for real estate investing. It explains how to purchase undervalued properties with cash, rehab them, rent them out, and then refinance to recover the initial investment and repeat the process. The book includes personal anecdotes, practical advice, and detailed steps for identifying target properties, negotiating offers, and increasing property value. Greene also discusses the importance of building a team and managing finances effectively to achieve financial independence through real estate investing.

Skill

David Greene

In 'SKILL', David M. Greene offers a comprehensive guide for real estate agents to elevate their business by mastering sales funnels, negotiation tactics, and social media management. The book provides strategies to develop winning traits, build momentum, and execute systematic presentations to ensure more leads become clients. It also emphasizes the importance of technology integration and interpersonal skills in real estate sales.

The secrets to negotiation are often simpler than you think. There’s no double-talk, bribing, or harshness necessary to get what you want. If you know what the other side wants (which you probably do already), you’ll most likely have enough to negotiate successfully. So why aren't most people winning negotiations? Well, when everyone is buying or selling to get the most they can, it’s often the people who create wins for their opponents that come out on top.

David Greene would know this. He’s one of the top real estate agents in the country and is the host of the biggest real estate podcast around (that’s us!). His new book, SKILL: A Top-Producing Agent’s Guide to Earning Unlimited Income, is more than a handbook for real estate agents. This book also details how almost anyone investing in, buying, or selling real estate can win negotiations easily.

David spends time today outlining the seven negotiation tactics he has used in the past to lock down deals for buyers, sellers, and himself. You’ll hear real-world examples of when David and co-host Rob used these tactics in their own investments plus exactly how to formulate each of these tactics so you can ultimately get what you want.

In This Episode We Cover:

Price anchoring and how adjusting a baseline can secure a quick win early in a negotiation

Staying likable, yet stern, in a negotiation so the opponents want you to win

Persuading opponents that your desired outcome is actually in their best interest

Redefining the value you bring and showcasing it in an undeniable way

Building a negotiation scarecrow that becomes the enemy (so you don’t!)

Reigning in FOMO when working with buyers or sellers in a hot housing market

And So Much More!

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