ReNegotiating After Inspections
Y ’ all know to renegotiate after property inspections , right ? ‘ Thought so .
Reading List
The “ Concession Pattern ”
In the backandforth of negotiations , your “ concession pattern ” is very important because it sets up expectations in the other party . Always negotiate fairly tightly . Don ’ t concede too much because the other party will see that as an opening to seek more . Go backandforth more times if need be . Try to set things up so you take the other party ’ s counteroffer rather than force them to take yours . This way they will feel they won , and you will have less trouble with them the rest of the way . And , please , don ’ t arbitrarily
Recommended Reading
Photo by Sora Shimazaki from Pexels
“ split the difference ”. Amateur negotiators do that .
“ Sharp Practices ”
The day will come , if it hasn ’ t already , when the other party will bring “ sharp practices ” to the table . If these are illegal ( e . g ., undisclosed money back after the close ), call them on it , and refuse to participate . If these are not exactly illegal , then counter them as best you can , or walk away . Life is too short , and your reputation is too important . Always “ take the high road ” in negotiations .
Negotiate This , Herb Cohen , 2003 Everything ’ s Negotiable , Eric Wm . Skopec and Laree S . Kiely , 1994 Guerrilla Negotiating , Jay Conrad Levinson , Mark S . A . Smith , and Orvel Ray Wilson , 1999 The Negotiating Game , Chester Karrass , 1992 The Only Negotiating Guide You ’ ll Ever Need , Peter J . Stark and Jane Flaherty , 2003 Seal the Deal , Leonard Koren and Peter Goodman , 1991 You Can Negotiate Anything , Herb Cohen , 1980 How to Win Friends and Influence People , Dale Carnegie , 1936
Included here is a list of Recommended Reading . Buy all of them , used . Read and highlight them . Then , once a year , reread the highlights . You owe it to your clients , and yourself to be in tiptop shape as a negotiator .
MEET BRUCE KELLOGG
Bruce Kellogg has been a Realtor ® and investor for 38 years . He has transacted about 800 properties in 12 California counties . These include 14 units , 5 + apartments , offices , mixeduse buildings , land , lots , mobile homes , cabins , and churches .
Mr . Kellogg is a contributor and copy editor for two national real estate wealthbuilding magazines : Realty411 , and REI Wealth Magazine . He is a recipient of the Albert Nelson Marquis Lifetime Achievement Award , listed in Who ’ s Who in America – 2019 .
He is available for consulting with syndication , turnkey , jointventure , and other property purchasers and note investors nationally , and other consulting assignments . Reach him at
brucekellogg10 @ gmail . com ,
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