Key Takeaways:
Focus on active listening, nonverbal cues, and tactical empathy to better understand the other party's motivations and priorities.
Gather as much information as possible and build rapport before making offers or counteroffers.
Use anchoring and micro agreements to guide the negotiation in your favor.
Present market context and the impact of unrealistic pricing to help sellers be more realistic.
Be creative in structuring deals to satisfy both buyer and seller interests, such as adjusting interest rates, purchase prices, or payment terms.
Appeal to the other party's interests rather than getting stuck on positions when negotiating.
The Commercial Real Estate Investor Podcast