By Makanjuola Ojewumi
Congratulations! ultimately, you carry on your palms a most crucial publication that could mildew your funding destiny in actual property. Negotiation is just like the soul of genuine property itself. it truly is probably a most important enter within the means of buying estate. I had desired to paintings in this ebook many years in the past. I had a really aged purchaser who made a press release in the future that struck me vitally once I heard it. He stated to me that "In lifestyles, you do not get what you deserve, you get what you negotiate". It used to be such an amazing assertion to me the moment I heard it. listening to it from a consumer I revered made me brood on how vital it really is in my line of exchange to have the ability to barter a estate. This was once lengthy earlier than I turned conscious that the word is sort of a typical word, and worldwide books were performed with this name. there's a ebook titled "In enterprise as in lifestyles, you do not get what you deserve, you get what you negotiate". everywhere in the web, you discover many fabrics that...
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Extra resources for 75 Winning Ways. To Negotiate Real Estate
That is too much power. While it is good to empower your mediator, he should tell you when he wants to make a decision that involves a lot of money, even as little as N1million may sound, nobody should make that kind of decision without your input. Having done all the negotiation, he must come back to you and say “this is how far I have gone”. Then you must be able to put your nod to it and say “let us go ahead”. Ideally the money should remain with you till you are ready to pay and then you go ahead and pay.
Com Table of Contents INTRODUCTION Winning Way 1 NEGOTIATION IS OFTEN DEFINED BY OFFERS AND COUNTER-OFFERS Winning Way 2 QUALITIES YOU SHOULD HAVE AS A GOOD NEGOTIATOR Winning Way 3 A GOOD NEGOTIATOR WILL BE ABLE TO EVOLVE A SET OF STYLE, STRATEGIES, TACTICS Winning Way 4 A GOOD NEGOTIATOR MUST BE A GOOD COMMUNICATOR Winning Way 5 GET A MEDIATOR TO ACT AS A GO-BETWEEN Winning Way 6 NEGOTIATION IS A SKILL THAT CAN BE LEARNT Winning Way 7 NEGOTIATION DETERMINES A GOOD INVESTMENT FROM SCRATCH Winning Way 8 NEGOTIATE ONLY AFTER FORMING YOUR OPINION OF A FAIR PRICE Winning Way 9 NEGOTIATE SMARTLY BY DISTRACTING FROM WHAT YOU CONSIDER A PROPERTY’S SPECIAL FEATURE Winning Way 10 ALWAYS NEGOTIATE PRICE Winning Way 11 NEGOTIATE SELFISHLY Winning Way 12 THE BREAKDOWN OF NEGOTIATION MAY BE A NECESSARY INDICATOR Winning Way 13 DON’T LET THEM SEE YOU COMING Winning Way 14 NEGOTIATE DISPLAYING ADEQUATE MARKET KNOWLEDGE OF ALTERNATIVES (SUPPLY SITUATION) Winning Way 15 NEGOTIATE LEASEHOLDS BASED ON UNEXPIRED TERM Winning Way 16 ISOLATE THE MOST INFLUENTIAL PERSON IN A FAMILY OR ORGANIZATION Winning Way 17 NEGOTIATE THE NEGATIVES Winning Way 18 NEGOTIATE THE NEGATIVES (DEBT AND BANKS LOANS) Winning Way 19 NEGOTIATE THE NEGATIVES (TENANTS RENT ADVANCE) Winning Way 20 NEGOTIATE THE NEGATIVES (SIT TIGHT TENANT) Winning Way 21 NEGOTIATE THE NEGATIVES (STATUTORY LEVIES PAYABLE TO STATE/FEDERAL GOVERNMENT) Winning Way 22 POT VALUE EXAGGERATION Winning Way 23 SPOT PANCAKE MAKE UP OR CHEAP MAKE OVER Winning Way 24 DON’T COMMIT YOURSELF BEFORE NEGOTIATION Winning Way 25 THE NEGOTIATION ROUND TABLE Winning Way 26 BE QUICK TO KNOW THE PEOPLE YOU ARE FACING ACROSS THE TABLE Winning Way 27 KNOWING EACH PERSONS MOTIVE WILL HELP Winning Way 28 USE BODY LANGUAGE POSITIVELY DON’T FIDGET Winning Way 29 CASH IS KING Winning Way 30 BECOME VERY PERSUASIVE TO THE OTHER PARTY Winning Way 31 USE EMOTION AS A POSITVE WEAPON IN NEGOTIATION Winning Way 32 PREPARE A LOGICAL ARGUMENT OR SEQUENCE TO DRIVE HOME YOUR NEGOTIATION Winning Way 33 DISTRACT FROM THE MAIN NEGOTIATION COURSE Winning Way 34 BREAK THE NEGOTIATION DOWN IF THE TABLE GETS TOO HOT AND PARTIES ARE NOT AGREEING Winning Way 35 BREAK THE NEGOTIATION DOWN IF YOU ARE BEING CORNERED TO AGREE A PRICE YOU ARE NOT COMFORTABLE Winning Way 36 BREAK THE NEGOTIATION DOWN --- IF YOU ARE BEING CAJOLED TO AGREE TERMS THAT SEEM ODD Winning Way 37 BREAK THE NEGOTIATION DOWN --- DRIVE PRICE DOWN (RISKY IF THERE ARE OTHER BUYERS IN THE PIPELINE) Winning Way 38 NEGOTIATING LEASEHOLDS Winning Way 39 KEEP IT FLAT (PAY THE SAME RENT THROUGHOUT THE LEASEHOLD YEARS WITH NO REVIEW PROVISION Winning Way 40 KEEP IT STEPPED (RENT REVIEWS CAN BE CALCULATED AS A PERCENTAGE) Winning Way 41 THE TWO WAY LEASEHOLD ARGUMENT Winning Way 42 DON’T LEAVE THE FUTURE LOOSE GETTING PARTIES TO STICK TO THEIR AGREED TERMS Winning Way 43 PROPOSE WITH PARTIES TO DO A PRE- SALE CONTRACT Winning Way 44 KEEP CLOSE CONTACT WITH SENSITIVE PARTIES TO KEEP COMMUNICATION OILED Winning Way 45 OBTAIN AN IRREVOCABLE POWER OF ATTORNEY IN NEGOTIATION AS A WAY OF TAKING CONTROL IN THE SHORT RUN Winning Way 46 LOOK FOR SIGNS OF DISCOMFORT IN THE OTHER PARTY Winning Way 47 DON’T AGREE TOO QUICKLY IF THE LANDLORD IS INSISTING ON CERTAIN PRICE LEVELS Winning Way 48 WHILE NEGOTIATING, DON’T GIVE AWAY INFORMATION ON YOUR TRUE CASH POSITION Winning Way 49 DON’T FLAUNT WEALTH OR MAKE IT OBVIOUS THAT YOU ARE RICH Winning Way 50 BE PREPARED TO PRETEND TO TAKE SOME DAYS OR WEEKS SOURCING MONEY TO PAY FOR THE PROPERTY Winning Way 51 USING PART PAYMENT AS A WEAPON IN NEGOTIATION Winning Way 52 NEGOTIATE ALONG THE PATTERN OF HOW YOU CAN RAISE THE PAYMENT BASED ON YOUR OWN CASH FLOW POSITION Winning Way 53 NEGOTIATE A REASONABLE SPAN OF TIME SUCH THAT THE TRANSACTION REMAINS HOT AND ATTRACTIVE Winning Way 54 NEGOTIATE THE FIRST INSTALMENT AND THE NEXT INSTALMENT BASED ON TAKING PART POSSESSION Winning Way 55 PAY PART AND RETAIN A SUFFICIENT SUM TO COVER REPAIR COST WHERE APPLICABLE Winning Way 56 NEGOTIATING A PROPERTY WHERE YOU INHERIT TENANTS Winning Way 57 SHOCK TREATMENTS THAT WEAKEN THE OTHER PARTY Winning Way 58 NEGOTIATING UNCOMPLETED PROPERTIES Winning Way 59 IF THE PROPERTY HAS STAYED TOO LONG IN THE MARKET, YOU NEED TO FIND OUT WHY Winning Way 60 IF BUYERS APPEAR TO BE AVOIDING A PARTICULAR PROPERTY, PAUSE TO FIND OUT WHY Winning Way 61 A SLOWDOWN IN THE ECONOMY MAY CAUSE A LULL IN THE MARKET Winning Way 62 NEVER GET INTO A SHOUTING MATCH WITH THE VENDOR Winning Way 63 LET THE MEDIATORS DO THE SHOUTING Winning Way 64 NEGOTIATE USING THE WHOLESALE PRINCIPLE Winning Way 65 AS APPLIED TO A HOUSING ESTATE/DEVELOPMENT WITH SEVERAL UNITS Winning Way 66 THE WHOLESALE PRINCIPLE CAN BE APPLIED TO ACQUIRE LARGE PARCELS OF LAND FOR SUB-DIVISION Winning Way 67 THE WHOLESALE PRINCIPLE SHOULD BE APPLIED TO BIG DEVELOPMENTS SUCH AS WAREHOUSES AND HUGE RESIDENTIAL HOUSES Winning Way 68 APPLYING THE WHOLESALE PRINCIPLE TO EXISTING OR PART COMPLETED SHOPPING COMPLEXES OR MARKETS Winning Way 69 HOW LANDLORDS SHOULD NEGOTIATE Winning Way 70 HAVE A NEGOTIATION BAND: THE LOWEST AND THE HIGHEST PRICE EXPECTATIONS.
It is about how you argue your position and how you present your front. How you make your offer and how you eventually finalise it, is what determines what you finally end up with. In other words, if you are careful to negotiate transactions properly, you can accrue to yourself a lot of advantage that you might otherwise not have had if you did not know how to negotiate. In a nutshell, it is negotiation that makes a transaction. The transaction is moulded by the parties who are negotiating and how they come together to negotiate a particular property.
75 Winning Ways. To Negotiate Real Estate by Makanjuola Ojewumi