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H IGH -P OWERED R EAL E ST A TE T ECHNIQUES

Goldman initiated the negotiations by asking the seller, “How much
do you want for the building?” The seller said, “$15 million, all cash.”
Goldman replied in a high-pitched screech, “W H A T!?”
Well, this was the price Goldman was willing to pay, and the seller
was willing to take. But Goldman was so indignant in the way he said
“WHAT?” The seller responded by saying, “Well maybe we can take
a little less; how about $14 million, all cash.” Goldman says again
with the same high-pitched screech, “WHAT?! ALL CASH. YOU
WANT ALL CASH?!”
The seller then said, “Well, maybe we can talk terms.”
Now Sol Goldman never tipped his hand—he never said anything
substantial—while all this was going on. All he said was “WHAT?!”
at four different times. The seller thought he was so indignant, so in-
sulted, that Goldman ended up buying the building for $12 million
with terms! And all he said was “WHAT!”
You have to understand that as a young lawyer, working for Sol
Goldman, I was ready to grab the seller’s first offer, since I knew my
client was ready to pay it. Instead, Goldman would negotiate with-
out making a single counteroffer. He never said, “All I want to pay is
$12 million.” All he ever said was “WHAT?” “WHAT?” “WHAT?”
“WHAT?”
Later on, Goldman inquired, “What’s the interest rate on the
mortgage?” And the seller replied, “8 percent.”
Goldman again replied with another indignant and ear-piercing
“WHAT, 8 PERCENT?!”
The whole tone of the entire negotiation made the seller feel that
he was insulting my client. It ended up having an unbelievable result.
Later, in another negotiation with Goldman, he was ready to sell
a building for $20 million. An interested buyer came along and of-
fered him $20 million. But Goldman said, “You’ve got to do better
than that.”
So the other side replied, “Well, how about $22 million.”

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