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Blogs » Real Estate Investor » California » Santa Clarita » Creating Wealth Through Real Estate » Negotiations Part IV

Negotiations Part IV

Friday, December 12

As promised, here is the fourth & final part of the negotiation technique. Concessions:

*Don't be the first to make a concession on a major item.
* Occassionally, you may want to be the first to make concessions on lesser items.
* Make concessions slowly, keep them small, and make them progressively smaller as time goes on.
* If the other party makes an unrealistic offer, back away.
* Ask if they have any other items that need to be resolved before you grant a concession. Get everything they want and then give them something if needed. Make this concession something that is not as important to you, but let them know it is a big issue with you.
* If concessions are needed to close the transaction, do so with items of perceived high value that will not cost you much.
Once an agreement is reached, formalize it in writing immediately. Do not put this off!
No matter how good you are, you won't always produce successful negotiations. You need to know this going in and know when to walk away. As the song goes, "know when to walk away, know when to run"
If the numbers don't work, do not do the deal!
The number one negotiating phrase & technique that will save you money is . . .
 (Find out in our workbook/cd set available & on sale only until Dec. 20, 2008 by going to www.nationwidepropertyinvestments.com/workshop )
William Barnard is managing partner of Nationwide Property Investments, LLC, a full time real estate investor, educator, speaker, weekly radio show host and mentor. He completes millions of dollars in real estate transactions each year and has been involved in nearly every aspect of real estate investing. Join his free investor list as well as the new paid membership area which provides education, training, and savings on a variety of products and services related to real estate investing at www.nationwidepropertyinvestments.com

Tagged as: negotiations, negotiate, deal, concession, technique

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Will Barnard

Barnard Enterprises, Inc.
Rehabber
Santa Clarita, California


Website: http://www.barnardenterprises.com
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