622: 7 Expert Negotiation Tactics That Will Put a Buyer/Seller/Tenant on Your Side
BiggerPockets Real Estate Podcast
BiggerPockets
4.8 • 16.5K Ratings
🗓️ 14 June 2022
⏱️ 62 minutes
🧾️ Download transcript
Summary
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!
Links from the Show
Ask David Your Real Estate Investing Question
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Subscribe to The “On The Market” YouTube Channel
3 Not-So-Obvious Secrets to Masterful Real Estate Negotiation
David’s Ted Talk on Building Skills
Books Mentioned in the Show
SOLD by David Greene
SKILL by David Greene
BRRRR by David Greene
Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-622
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Transcript
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| 0:00.0 | This is the Bigger Puckest Podcast Show 620. |
| 0:04.4 | We had to get her to be our advocate in that scenario. |
| 0:07.4 | And no listing agent wants to have to go to her clients and say, I got beat. |
| 0:12.2 | So instead what we do is we coach them to go say, hey, we took a really good shot. |
| 0:17.0 | We listed it for as high as we possibly could. |
| 0:19.1 | We didn't get any buyers. |
| 0:20.5 | But good news. |
| 0:21.2 | I got a person that's still willing to pay more than I think anybody else will. |
| 0:24.8 | Now she's aligned herself with them against us. |
| 0:27.1 | It makes it easier for the other side to adopt the or to accept the offer that they didn't want. |
| 0:32.6 | This is the same technique that we give people when we say, hey, if you're going to live in a duplex |
| 0:37.0 | and live in one side or rent out the other side, you don't have to tell your tenants that you own the property. |
| 0:42.0 | What's going on, everyone? |
| 0:43.0 | Is David Green your host of the Bigger Puckest Real Estate Podcast here today with my amazing co-host Rob Abisolo. |
| 0:49.5 | How's it going everybody? |
| 0:50.5 | Today, Mr. Rob Abisolo. |
| 0:52.5 | He's going to be taking the reins a little, a little nervous. I'm going to be the one turning the mic around to you |
| 0:58.7 | and asking you the hard questions, David. |
| 1:00.8 | Are you sure you're ready for that? |
| 1:02.1 | Hey, here's the thing. |
| 1:02.9 | I used to co-host this thing with Brandon Turner and I was allowed to get one word in for every 300 that he said. |
| 1:08.4 | So anytime I get a little bit of mic time, I'm good with it. |
... |
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