331: How To Never Leave Money On The Table - Negotiating with Chris Voss
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 8 February 2021
⏱️ 58 minutes
🧾️ Download transcript
Summary
Hear a mock negotiation between Chris Voss & I for a fourplex building today!
The former lead international hostage negotiator for the FBI, Chris is now America’s top negotiation coach.
In a negotiation: Who goes first? Does “anchoring” work?
In real estate, terms are often more important than price.
“Never be so sure of what you want that you wouldn’t take something better.” -Chris Voss, today's show
He does not use the term “win-win”. It’s a giveaway that someone is trying to pick your pocket.
The “other side” always has hidden cards that could benefit you.
Be curious. A positive mind frame makes you 31% smarter.
At times, it helps to address “fairness” at the beginning of a negotiation.
Let the word “no” out softly.
If there’s an elephant in the room, address it.
Chris uses the “mirroring” technique on me. He makes me think that conceding was own idea! Amazing.
He has free negotiation resources for you. For his newsletter, text blackswanmethod to 33777. Outside the U.S., go to: www.blackswanltd.com
Silence and humor are effective negotiation techniques in certain situations.
I tell Chris my favorite negotiation line and get his opinion: “What flexibility do you have?”
Resources mentioned:
Show Notes:
Get free newsletter from Chris Voss:
U.S.: Text blackswanmethod to 33777
Outside U.S.: www.blackswanltd.com
Chris Voss’ book:
https://www.amazon.com/Summary-Never-Split-Difference-Analysis/dp/1683784391
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Transcript
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| 0:00.0 | Welcome to Get Rich Education. I'm your host Keith Weinhold. What would you do when you're talking to the FBI's one-time lead hostage negotiator and the number one negotiation coach in the world? Well, of course, he would try mock negotiating with him to see if you can win. Well, that's exactly what I plan to do with him here today. Do you think that I'm going to win? Let's see. Negotiate is if |
| 0:22.5 | your life depended on it. You're learning how to do that today with the never split the difference |
| 0:27.0 | author Chris Voss and I find out how to never leave money on the table today on get rich education. |
| 0:35.1 | Hey, is your IRA in a real estate syndication? |
| 0:37.9 | Yikes, a 37% Ubit tax could hit you, but you still have a chance to set up your EQRP and |
| 0:44.0 | avoid this. |
| 0:45.2 | Did you make too much money in 2020 and need more deductions? |
| 0:48.3 | Now federal law lets you set up an EQRP in 2021 and get deductions for last year, yeah, retroactively. Even put old IRA and 401k money |
| 0:58.2 | in Bitcoin, gold or your own business, get control of all of your retirement money, tax and |
| 1:03.2 | penalty free. Text EQRP in all capital letters to 72,000. You're listening to the show that has created more financial freedom than nearly any show in the world. |
| 1:18.0 | This is Get Rich Education. |
| 1:26.6 | You're listening to the show. Welcome to GRE from Coney Island in Brooklyn, New York to Vancouver Island, Canada, and across 1808 nations worldwide. |
| 1:40.9 | I'm Keith Weinhold. |
| 1:42.3 | This is GetRish Education. |
| 1:43.7 | We're going to help you make sure |
| 1:45.6 | that you never leave money on the table today. You know, I think that face-to-face negotiation |
| 1:51.1 | has actually made a comeback in the last year. Now that Zoom video calls are everywhere, |
| 1:56.6 | virtual face-to-face negotiations have become more common. Now, a lot of times when you think about negotiation, at least in the business world, |
| 2:05.4 | you're thinking about price. |
| 2:07.2 | If you're a buyer, how do I get the lowest price on this? |
| 2:10.5 | The conventional wisdom, I think, says that you want the other side to name a price first and not you. |
| 2:19.2 | But then you learn about a technique like anchoring. |
... |
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