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P RINCIPLES OF N EGOTIA TION

But all this preparation was just the foundation for Trump’s ini-
tial meeting. The ultimate purpose of that meeting was to find out
what Walter Hinneberg really wanted and construct a scenario that
would work for both parties. Hinneberg was impressed that someone
of Donald Trump’s stature would fly to Germany to meet with him
and this enabled Trump to establish the atmosphere of mutual trust
that was essential to consummation of the deal.
Trump knew that the history of mistrust that Hinneberg en-
dured with prior building operators could only be overcome with the
passage of time, relationship building, and constant negotiation to
address the concerns of both parties. Instead of trying to sign a quick
deal, Trump took almost a year to hammer out the intricate terms of
the new ground lease, one of which was a total rent abatement for a
period of three years. Both parties were detail oriented and had to
expend a great deal of time, energy, and money. But this also meant
they were both committed to making the deal work. Without the
time investment, the deal probably would have aborted.

Why You Should Avoid a Quick Deal

If you want to buy, sell, or invest in real estate, you must remember
that people are willing to spend time with someone who seems gen-
uinely interested in them and what they have to offer. Trying to make
aquick deal sends the opposite message to the person you are dealing
with. Likewise, it will be much easier for a seller to brush you off, if
you are only interested in the selling price of a property, and show no
curiosity about the history of the property, or owner’s goals, reasons
for selling, and so on. The more questions that are asked and answered
over extended periods of time in a real estate transaction, the more
useful information you willhave to bring to the negotiating table.
Asking questions and gathering information also cement the impres-
sion of a sincere and continued interest Moreover, it is personally

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