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

100 negotiators with varied degrees of skill to participate in a mock
negotiation. The participants were divided into two groups on
opposite sides of the following imaginary situation. A large phar-
maceutical company had developed a drug, which they publicized as
having some minor side effects such as occasional dizziness or
headaches, but they also knew that it could lead to possible blind-
ness or serious loss of sight.
People were suing for serious injuries suffered. The negotiators
were split into teams of two, one person representing the drug com-
pany and the other person representing the claimant. They had to
reach a settlement within 60 minutes or a deadlock would be declared
and negotiation cease. A bell would sound every 10 minutes and an
announcement made specifying the time remaining. During the last
10 minutes the bells and announcements sounded every minute. The
experiment disclosed that over 90 percent of the claims were settled
in the last 5 minutes. The lesson for real estate investors is, “plan on
doing the real intensive negotiation just before a deadline expires.”
The worst deadlines that have to be faced are those that affect
your side. As the deadline approaches, the other side has the time to
remain flexible but your hand is quickly being forced to make a deal,
under potentially unfavorable terms.
It is important to know which deadlines are real and which are
fictitious. If someone says, “I must have your answer by Friday.” Tell
them you have to check things out and won’t have the answer until
the following Wednesday. If they say, “Okay,” you know the deadline
was not really a deadline. If they have a plausible explanation for the
Friday deadline—it’s real.

Delays

It is a fact that every transaction will meander unless there is a com-
pelling reason to consummate it or kill it. If you want to speed things

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