Negotiating in Real Estate

negotiation 101

My business career spans over 30 years, including the last 12 years in real estate. I’ve negotiated contracts with middle management at Fortune 100 companies and sub contracts with major General Contractors, in addition to managing the risk in numerous real estate transactions.  Naturally, this experience has influenced my approach to negotiating.

Here’s what I have learned about successful outcomes regardless of the personalities involved and/or the styles applied:

  • Be the best prepared
  • Have the most/best relevant information
  • Have the most time on your side
  • Always have options to walk away

There’s more to it, of course. Experience over the years helps develop true instincts about people and situations; red flags are easier to spot and possible solutions are easier to find.

The biggest killers in a negotiation are ego and emotion; everything else is workable when parties have genuine good-will and honest intention. Clients need to choose carefully who will represent their interest. Big egos and thin skin will ruin even the best deals..