How do you handle a last-minute change of heart in negotiation? What can you do to work through this?
Top 3 negotiating tips from the expert
- In so many deals, money is important, but it’s not the most important element in a deal.
- Starting with a cold read is a powerful way to start any negotiation, you’re looking for a “that’s right” response, or they correct you.
- The avoidance of loss is twice as powerful of a motivating factor as the pursuit of gain.
In this clip, you’ll learn about a scenario facing objection and the importance of empathy and phrasing in dealing with it.
“The secret to gaining the upper hand in a negotiation is to give the other side the illusion of control.” – Chris Voss
Negotiating as an art
There are many approaches in a negotiation. There is a soft approach in negotiation, and you shouldn’t always try to go directly for your end goal. It is important to give the other side the illusion that they are in control.
There is great importance in letting the other side know personal information about yourself to tap into emotions. Tactical empathy is key.
It is critical to learn the important difference between someone saying, “That’s right.” Rather than, “You’re right.” Mirroring and repeating the last three words that someone has said to you is also large part of negotiating.
Use emotions to your advantage
Emotions are the most powerful tool in negotiation, more important than money.
It’s important to present yourself as a real person, so you can tap into the emotional undercurrent of the person. One of the key elements of negotiation is letting the other person feel as though they are in control of the conversation, and you can do this by letting the other person speak first.
If you do it this way you, are already in the process of gaining the upper hand.
Matt Johnson is the co-host of Real Estate Uncensored, a podcast and video training series for real estate agents. He is also the founder of Pursuing Results, a podcast production firm.