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

When you call back, do it from a quiet place at a good time, to
minimize the chance of interruptions. Have all pertinent material
you need readily available before you participate in a telephone nego-
tiation. Helpful tools include a checklist which serves as an agenda,
and a calculator incaseit’sneeded. Take good notes during the con-
versation and put them in your spiral notebook. When the call is over,
seethatthe notes go into the appropriate file. It’s a good policy to
confirm the conversation andthe agreements reached by a follow-up
letter,fax, or e-mail.

USING DEADLOCKS, DEADLINES, AND
DELAYS TO YOUR ADVANTAGE

Deadlocks

When both parties have reached an impasse (i.e., a deadlock), ask
yourself if a deadlock is appropriate at this time and on this issue. A
deadlock usually results from constraints placed on negotiators by
someone on their own side. If you think you have reached a genuine
deadlock, and you opt to leave the negotiation, be pleasant. Smile
when you walk out and say something like, “I’d really like to buy
your property but your price is not realistic.” Always leave the door
open for “face saving” (e.g., “I’ll give it some thought.”).
If one party welcomes a deadlock, that party has a distinct advan-
tage. A deadlock does not necessarily represent the end of a negotia-
tion, or even a failure, but most people view it as such. In many cases
you will learn of the availability of other concessions from the other
side, if you let a negotiation reach a deadlock on an issue.
Big organizations dread a deadlock because they view a deadlock
as failure. But savvy real estate investors know that deadlocks are not
failures and can always be broken. This gives you an advantage when
dealing with a big organization.

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