{"id":75287,"date":"2015-10-15T12:00:52","date_gmt":"2015-10-15T18:00:52","guid":{"rendered":"https:\/\/www.biggerpockets.com\/renewsblog\/?p=75287"},"modified":"2021-03-16T11:46:37","modified_gmt":"2021-03-16T17:46:37","slug":"2015-10-15-power-of-silence-real-estate-negotiations","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/2015-10-15-power-of-silence-real-estate-negotiations","title":{"rendered":"How to Unlock the Surprising Power of Silence During Real Estate Negotiations"},"content":{"rendered":"

Silence: It’s a boring topic to talk about, yet it can be one of the most important tools you can use to get ahead.<\/span><\/p>\n

In the US we pride ourselves on how busy we are; we even brag about it. Sometimes I think we have a voice built into our heads telling us we need to be accomplishing something every minute of the day. The average teenager these days can chew gum, skateboard, talk on the phone, drink a latte, text, and score some serious Candy Crush points simultaneously.<\/span><\/p>\n

Because we\u2019re so busy and constantly multitask, we\u2019ve become uncomfortable with silence. When silence kicks in, we quickly find a way to fill it because we\u2019re not used to it. This need creates an advantage for you. If you can be silent and get truly comfortable with silence, you can create opportunities that will set you apart and help you achieve your goals. Let\u2019s look at some examples. <\/span><\/p>\n

Related:<\/strong> The Clever Psychology Trick You Need to Successfully Negotiate With Type A Personalities<\/a><\/em><\/p>\n

Silence in Real Estate Negotiations<\/span><\/h2>\n
\n

\u201cI\u2019ve often heard professional negotiators tell me that they could accurately predict the outcome of negotiations fairly early on using one simple clue: whoever has less endurance for silence loses.\u201d –Olivia Fox Cabane,\u00a0The Charisma Myth<\/a><\/i> <\/span><\/p>\n<\/blockquote>\n

When I send in an offer, the first thing I do is get the other real estate agent on the phone and ask, \u201cBesides a million dollars, what else do the sellers want, and what can we do to help make this transition easier for them?\u201d This is the most powerful question you can ask. And because we tend to be uncomfortable with silence, I immediately become silent. After about 1-3 seconds, the other agent will start to get uncomfortable with\u00a0that little voice tells them they need to fill the silence. They will oftentimes say, \u201cUmm,\u201d \u201cLet me think, hmm,\u201d or \u201cWhat do they want?\u201d\u00a0<\/span><\/p>\n

By asking an open ended question and then becoming completely silent, you accomplish two things: <\/span><\/p>\n

    \n
  1. You show you actually care about what they want and <\/span><\/li>\n
  2. They feel the need to start talking because they get uncomfortable with the silence.<\/span><\/li>\n<\/ol>\n

    This is when the information starts flowing. <\/span><\/p>\n

    It is amazing how much you can learn when you care about what they have to say and create a situation where they feel compelled to talk. It\u2019s not a perfect strategy, but I have won several multiple offer deals (without the highest offer) just because I was the only one who cared about what the sellers wanted. Think about this for a moment: How often have you had someone ask how they could help you and then just listen intently without interruptions to what you have to say? <\/span><\/p>\n

    \n

    \u201cOne of the most sincere forms of respect is actually listening to what another has to say.\u201d –Bryant H. McGill<\/span><\/p>\n<\/blockquote>\n

    Using Silence With Friends<\/span><\/h2>\n
    \n

    \u201cThey may forget what you said, but they will never forget how you made them feel.\u201d –Maya Angelou<\/span><\/p>\n<\/blockquote>\n

    Thinking about the question above, when was the last time you sat down with a friend, someone who cares a lot about you, and they asked how you were and waited for you to finish? What if they asked you another question based on your answer to the first question and waited for you to finish again? Most of the conversations I have, even with close friends sometimes, it seems the other person is just waiting for their turn to talk. This has become common.\u00a0<\/span><\/p>\n

    Everyone wants to be heard, to have someone care about what they have to say<\/i><\/b>. We can all accomplish better listening and in doing so,\u00a0letting someone know you care. It\u2019s a free gift you can give, and everyone who receives it\u00a0will appreciate it. It\u2019s well documented that most people forget what they talked about when they met someone, but they don\u2019t forget the feeling they had about them. There is no better way to have someone feel good about you and remember the \u201cgreat conversation\u201d than to give them the gift of your attention. Just be\u00a0silent for a little while.<\/span><\/p>\n

    Using Silence to Save Time<\/span><\/h2>\n

    When I meet with new clients, the first thing I ask is, \u201cWhat do you want?\u201d Just a simple question–yet it almost always takes them by surprise. Most people go silent and don\u2019t know what to say. You would think most people would already know what they want. Not the case.<\/span><\/p>\n

    Related:<\/strong> Strike Price vs. Goal Price: How to NOT Leave Money on the Table When Negotiating<\/a><\/em><\/p>\n

    I had clients, when I first started using silence, who had\u00a0spent months aggressively looking for properties to\u00a0no avail. One day I sat them down and asked what they really wanted. Not bedrooms and bathrooms, but what they really<\/em> wanted. What was the most important thing for them? They thought about it for a a few minutes and came to the conclusion that they wanted to live close enough to a bar with pool tables so they could get a drink, play a few games, and not have to worry about a DUI. Wow. Within a week they were under contract on a new home. You can learn a lot of information and save yourself a lot of time if you can compel people to think about what they really want and tell you what that is. I can tell you real estate has little to do with the actual house and more to do with the location of the house. <\/span><\/p>\n

    Silence can work on anyone. Your boss, clients, coworkers. It\u2019s seldom I meet people who can answer what what they really want. We just don\u2019t take the time to think about it. If you can get someone to this point, you can go a long way. <\/span><\/p>\n

    Summary<\/span><\/h2>\n

    There are only two things you need to know to accomplish more using silence: 1) Ask open ended questions and 2) just listen. People will love you for it and they\u2019ll be more inclined to help you get where you want to go. Give it a try and let me know how it works for you.<\/span><\/p>\n

    What tactics do you use to get your sellers to open up?<\/em><\/p>\n

    Let’s talk in the comments section!<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

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