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TR U M P STR A TEGI ES FO R R E A L ESTA TE

Again, Goldman replied, “You’ve got to do better than that.”
Now Goldman had already made $2 million and he was willing to
accept $20 million, but just by saying “You’ve got to do better than
that,” made the other side feel that they had to. Otherwise, they
thought Goldman wouldn’t make the deal. It was just a ploy—which
worked! In this example, Goldman succeeded in a negotiation by
giving away no information.

CRITICAL DOS AND DON’TS OF
SUCCESSFUL NEGOTIATION

The negotiation principlesandtechniques I’m describing are pow-
erful, but they won’t all work for you. It’s important to adopt your
own style of negotiating. Each person has a unique personality and
method of negotiating. If you try to simply copy someone else, peo-
ple sense that your trying tohidethetruthofwhoorwhatyouare.
This will result inaquick turnoff because they feel you cannot be
trusted.

• Don’t talk about your weaknesses at any time or in front of any-
one. Be sure to muzzle everyone on your side. Many deals are
blown by nonnegotiators who couldn’t keep their mouths shut.
• Don’t believe in the “bogey” theory. Very often in real estate
deals you will be told, “Look if you don’t want the deal I have
two others who do.” Another variation is, “I’ve got a better
price from someone else.” Don’t give those statements any
credence. If there were any truth to the claim, they wouldn’t
be dealing with you, but instead they would be pursuing the
other, better deal.

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