Page 125 - Trump University Commercial Real Estate 101

Locking in Y our Profit

is leaving. This puts a lot of stress on the foreigner not to return home
empty - handed. Very shrewd.

The Competition

Mentioning the competition is a good way to keep the other side from
feeling too secure. Let him know that you ’ re looking at other proper-
ties and expect to have a deal by a certain date. Don ’ t lie, but don ’ t
miss the opportunity to use other properties to your advantage.
I like to use this tactic when I ’ m at an impasse with a seller. I usu-
ally say, “ Mr. Seller, I will buy a property similar to yours within the
next 60 days. I have two other potential properties that I ’ m in negotia-
tions with. Of the three, I ’ d really like to buy your property, but the
choice is yours. ” I don ’ t pull out this tactic frequently, but I ’ ve had
good results whenever I ’ ve used it.

The Walk - Away Close

Being prepared to walk away from the negotiation can get dramatic
results when the other party is being noncommittal or refusing to
make a counteroffer. If the negotiation has reached a stalemate, simply
start to gather your papers and pack your briefcase in a matter - of - fact
manner. If you have read the situation correctly, the other party should
offer a constructive response.
If the other party in fact allows you to walk away, make sure you
walk away ! If you don ’ t, you will have blown all of your credibility.
A friend of mine did this masterfully in a very high - pressure situa-
tion on Wall Street. When he left, he just made sure to pace himself as
he walked to the elevator. Then he slowly pushed the button and got
in. He rode the elevator down 35 flights, thinking he had really blown

it. As he was slowly walking out the building, a guy came sprinting out
of the stairwell to catch up to him, asking him to reconsider! My friend
got the deal he was after.

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