It is pretty well understood that negotiations play a major part in real estate transactions. However, I have noticed that most understand the goal but few understand the basic principle of the skill. That’s where my experience with a 1929 Chevrolet comes into the picture.
But first, what negotiation is not. It is not parties coming together in a show of their relative strength. This would be more like an auction, each party attempting to out muscle the other. Auctions are effective tool in some real estate deals but in no way, are they to be confused with a negotiation. Negotiation is about the relative weakness of the parties. The art of the negotiation is in determining as soon as possible whose weakness is most pressing. Continue Reading →