Page 117 - Trump University Commercial Real Estate 101

Locking in Y our Profit

When I say everything , I mean take out everything: calculator, fi les,
presentation kit, the pen that the seller will use to sign — take it all out.
I discovered this last point the hard way. I was negotiating a deal
with a seller at the seller ’ s property. We had been in his offi ce negotiat-

ing the price and terms for almost 90 minutes. I finally got him to
agree to a price that we both could benefi t from.
I then reached behind my back and pulled the LOI folder from my
briefcase and merely plopped it on the table. As soon as I did this,
I saw the seller move back from the table as if being pushed by some
unseen force.
It had taken me 90 minutes for him to finally get comfortable with

me and agree to the deal. I blew it because I introduced something
that he wasn ’ t comfortable with. It must have looked as though I was
concealing something from him. I didn ’ t get anything signed that day.

Questions to Ask

Sometimes a few key questions can really help your negotiations:
“ What is it that you ’ re hoping I can do for you? ”
By asking this, you ’ re actually asking the seller how he would like
to be sold. You want to know how you can make this a win/win situation
for both of you. This should be one of the first questions you ask.

After you ask this question and get an answer, then ask:
“ Mr. Seller, if I can do that for you, would you be ready to
okay the agreement today? ”
Never ask the seller to sign anything, and don ’ t call the agreement a
contract . These are spooky words to lots of people, who will freeze and
think it over yet again. It ’ s always much better to say “ okay the
agreement. ”
“ In the past, what have you done to sell your buildings? What
worked for you? ”
You ’ re again asking the seller to tell you how she would like to be
sold. Follow up this question by creating a deal that meets the condi-
tions in her answer.

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