Property Investment, Success & Money | The Michael Yardney Podcast Deal or No Deal? Pivotal Tips for Powerful Negotiating
Negotiation is one of the skills developed by all savvy property investors.
Over the years I’ve noticed that some people are very good at getting terrific deals.
Most others simply get what the other party is willing to give.
What’s the difference?
The first group knows how to negotiate.
In today's episode, I sit down with Jackson Milan, an expert in the art of negotiation in a conversation for his podcast.
We discuss the vital role negotiation plays in various aspects of life and how mastering it can significantly enhance your life's quality.
Drawing on my five decades of business and investment experience, we delve into the importance of effective communication, establishing rapport, and ethically influencing others. We also discuss the impact of timing on sales and investments, and how understanding market conditions can shape negotiation outcomes.
Lastly, we reflect on valuable insights I've gained from my mentor, Jim Rowan, about life's predictable patterns of change, and the power of attitude and choices.
Tune in to learn about negotiation strategies that can give you an upper hand and hear our perspective on the property market.
Navigating Negotiation Strategies for a Better Life with Jackson Milan
Life is one big bargaining event, and if you become a very good negotiator it makes a difference in the quality of your life
If you are a poor negotiator, you’ll spend a fortune. If you are a good negotiator, you’ll save a fortune. If you are a great negotiator, you’ll make a fortune.
But as I started to write my latest book on negotiation, I realized that to be successful in life today you need to be more than just a good negotiator.
In this podcast episode, you’ll hear me being interviewed by Jackson Milan, a veteran investor with five decades of experience, on the art of negotiation.
We’ll discuss its role in amplifying quality of life and the profound impact of negotiation skills on various aspects of life, especially in the realms of business and investments.
● The cornerstones of Michael’s success in life and business
● How access to information has changed over the years
● Importance of negotiation skills in life and business
● Who really needs to develop negotiation skills
● An alternative to the “meet-in-the-middle” approach
● Understanding the power of negotiation and influence so as not to be taken advantage of
o How culture plays into that
● The things that can give you more power in a negotiation
o If you’re not in a hurry, you’ve got the upper hand
o The more information you have, the more power you have
o Having alternative options gives you more power
● Valuable rules to understand in negotiation
o Everything is negotiable
o Know what you want before going in – plan your negotiations
o Don’t get emotionally invested
● Whether a quick sale is a good sale
● Getting the best asset as opposed to the cheapest asset
● The story of Michael’s first investment property
● The importance of delayed gratification, education, and having a good team around you as you plan for the future.
Links and Resources:
Jackson Millan - The Wealth Mentor – Aureus Financial
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Some of our favorite quotes from the show:
“Life is one big bargaining event, whether you become a good negotiator or not. And if you do, it actually does make a difference to the quality of your life.” – Michael Yardney
“Because in negotiation, I guess, like in life, if you don't have a plan of your own, you're going to be part of somebody else's plan.” – Michael Yardney
“It's hard to make money out of real estate in the short term, but it's a fantastic way of growing assets over the long term.” – Michael Yardney
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