683: Why Expert Negotiators Love to Hear “No” w/Never Split the Difference’s Chris Voss

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 3 November 2022

⏱️ 69 minutes

🔗️ Recording | iTunes | RSS

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Summary

Chris Voss is an expert negotiator. After going from a street cop to the FBI and later thriving as a hostage negotiator, he wrote the world-famous book, Never Split the Difference. This book has served as a masterclass in negotiation for almost every field of work, including real estate investing. Although many of Chris’s examples come from life-or-death situations, the same rules and tactics can be applied to real estate investing. That is exactly why Chris pivoted and started coaching real estate agents to become better negotiators. But maybe you’re not an agent. Maybe you’re just trying to get your first or next deal done, working with a tough buyer/seller, and feeling like you’re making no headway. Chris has seen this time and time again. An overly aggressive buyer comes in, lowballs a seller, the seller then paints the buyer as the enemy, and the duo does a dance to the death ending in no deal done and frustrations at all-time highs. This is NOT the way to do real estate deals, and Chris has some advice that’ll help you change the way you (and your agent) get things done. Chris goes in-depth on a few concepts, such as why “no” is actually what you want to hear, how to form “calibrated questions” that get you what you want, and why you’ll need to start using “tactical empathy” if you want to close deals faster. These are some of the same tactics that co-host Rob recently used to get a multimillion-dollar property, without much money out of pocket. No matter your skill level, number of deals done, or years of experience, this advice from Chris could catapult your investing to the next level. In This Episode We Cover: Reviewing key lessons taught in Chris’s classic, Never Split the Difference Why most real estate agents will work against their clients, instead of with them Using overcommunication to develop instant rapport with a buyer, seller, or client “Tactical empathy” and why it’s a brilliant way to keep your opponent open to offers Asking “calibrated questions” that make sellers feel safe when working with you Building a negotiation scarecrow and making someone else (not you) the instant, uniting enemy And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch Listen to All Your Favorite BiggerPockets Podcasts in One Place Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area David's BiggerPockets Profile David's Instagram Rob's BiggerPockets Profile Rob's Youtube Rob's Instagram Rob's TikTok Rob's Twitter BiggerPockets Podcast 260 with Chris The Happiness Advantage TED Talk Books Mentioned in the Show: The Full-Fee Agent by Chris Voss Never Split the Difference by Chris Voss SKILL by David Greene Connect with Chris: Chris' Website Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-683 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Bigger Pocket podcast show 680-3.
0:04.6	People feel trapped, they feel like they're being led into a trap, concern is a negative emotion,
0:10.4	they're automatically getting dumped. If they say no and they don't feel trapped,
0:17.1	then they're not going to be getting dumped in the moment. They're going to be more likely to hear
0:21.2	you out, they're going to be more likely to consider the options, they're going to be more likely to
0:25.8	think of the next steps. And it's the same neuroscience rule, let me keep you out of negative thought,
0:31.9	the chances we can collaborate effectively are much higher because neither one of us are getting
0:36.8	dumped. What's going on everyone, this is David Green your host of the Bigger Pocket's Real Estate
0:40.8	Podcast, the best, the highest ranked and the baddest real estate podcast in the world. I am joined
0:47.5	today by my co-host Rob Abbasolo, who I love dearly, as well as a fantastic guest on today's show,
0:53.8	we have none other than world renowned expert negotiator Chris Voss, author of Never Split the
1:00.5	Difference and other books coming in to talk with us about how to negotiate real estate specifically.
1:07.1	Chris has recently been introduced into the world of real estate and the negotiation that happens
1:10.8	there and he shares tons of amazing advice for how you can do a better job negotiating for the
1:16.4	houses you want. And if you're an agent or a loan officer, how you can do a better job negotiating
1:21.5	for your clients? Rob, what were some of your favorite parts of today's show?
1:24.5	Honestly, man, I just, I felt you were in your your your element on this one. You were
1:29.2	you're giving all these anecdotes about your real estate career and your brokerage and then he was
1:34.1	like, yeah, and this is how the negotiation should have gone and then he was like, you're like, yeah,
1:38.4	and then this situation and I was just like, why would I talk? Why would I talk? I am watching
1:43.8	a master class between two class acts on the art of negotiation. So we get into things like
1:49.9	tactical empathy and really kind of understanding people where they're at and in kind of
	...

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