Podcast
Questions and Answers
What are the three ways a seller can respond to an offer on a piece of real estate?
What are the three ways a seller can respond to an offer on a piece of real estate?
- Accept, ignore, reject
- Counteroffer, reject, accept
- Accept, reject, make a counteroffer (correct)
- Ignore, accept, make a counteroffer
When does the 'real fun' begin in a real estate deal negotiation?
When does the 'real fun' begin in a real estate deal negotiation?
- When the seller submits a counteroffer (correct)
- When the buyer submits an offer
- When the seller accepts the initial offer
- When both parties agree on the price without negotiation
What does the author suggest if your initial offer is accepted too easily?
What does the author suggest if your initial offer is accepted too easily?
- You offered too much (correct)
- The negotiation process was unnecessary
- The market is not competitive
- You offered too little
Why does the author consider receiving a counteroffer a good thing?
Why does the author consider receiving a counteroffer a good thing?
In case of a counteroffer, what does it mean when the seller provides a price different from the buyer's initial offer?
In case of a counteroffer, what does it mean when the seller provides a price different from the buyer's initial offer?
Why does the author believe that not having the initial offer accepted is not necessarily a bad thing?
Why does the author believe that not having the initial offer accepted is not necessarily a bad thing?
What is a concession in a negotiation?
What is a concession in a negotiation?
Which of the following is an example of a negotiable item in a real estate deal?
Which of the following is an example of a negotiable item in a real estate deal?
In a negotiation, what could be a reason for one party to feel they got shafted?
In a negotiation, what could be a reason for one party to feel they got shafted?
What can help smooth any concerns on the part of the buyer in a real estate deal?
What can help smooth any concerns on the part of the buyer in a real estate deal?
What is negotiable in terms of financing in a real estate deal?
What is negotiable in terms of financing in a real estate deal?
What might be an item left in the property that is negotiable between buyers and sellers?
What might be an item left in the property that is negotiable between buyers and sellers?
What does it mean when one party gives up something in a negotiation?
What does it mean when one party gives up something in a negotiation?
What aspect of a real estate deal involves deciding who will pay for certain repair items after the sale?
What aspect of a real estate deal involves deciding who will pay for certain repair items after the sale?
What term refers to deciding when you will actually take control of the property?
What term refers to deciding when you will actually take control of the property?
What is included in a home warranty that can ease concerns of the buyer after the sale?
What is included in a home warranty that can ease concerns of the buyer after the sale?
What approach does the author take when negotiating?
What approach does the author take when negotiating?
Why does the author mention that 'When one door closes, another one opens'?
Why does the author mention that 'When one door closes, another one opens'?
What is the author's preferred location for real estate investment?
What is the author's preferred location for real estate investment?
What is suggested as a good way to start a negotiation with a seller?
What is suggested as a good way to start a negotiation with a seller?
What should you do if the seller names a price much higher than you can offer?
What should you do if the seller names a price much higher than you can offer?
What is the risk of offering a price significantly lower than your maximum allowable offer?
What is the risk of offering a price significantly lower than your maximum allowable offer?
Why does the author recommend building rapport with the seller?
Why does the author recommend building rapport with the seller?
What motivates a seller may not always be related to which factor?
What motivates a seller may not always be related to which factor?
What does stating 'Well, I can go to $___, but no lower.' imply during negotiation?
What does stating 'Well, I can go to $___, but no lower.' imply during negotiation?
Why does the author suggest not coming out swinging right away during negotiations?
Why does the author suggest not coming out swinging right away during negotiations?
Why is it important to know the alternatives during a negotiation?
Why is it important to know the alternatives during a negotiation?
In the example provided in the text, what was the main concern of the buyer in the deal for the 32-unit apartment complex?
In the example provided in the text, what was the main concern of the buyer in the deal for the 32-unit apartment complex?
What is the first thing to remember before negotiating a real estate deal?
What is the first thing to remember before negotiating a real estate deal?
What factor made the seller more willing to sell the property at a substantially lower price than initially asked?
What factor made the seller more willing to sell the property at a substantially lower price than initially asked?
How does the text suggest you gain power in negotiations?
How does the text suggest you gain power in negotiations?
What did Abraham Lincoln's quote about chopping down a tree emphasize regarding negotiations?
What did Abraham Lincoln's quote about chopping down a tree emphasize regarding negotiations?
Why does the text highlight the importance of knowing who the top-selling real estate agents are?
Why does the text highlight the importance of knowing who the top-selling real estate agents are?
How does the interest-based negotiation model differ from traditional negotiation approaches?
How does the interest-based negotiation model differ from traditional negotiation approaches?
What is emphasized as a key element in reducing risks when buying a property?
What is emphasized as a key element in reducing risks when buying a property?
Why does the text suggest that interest-based negotiation can lead to win-win outcomes?
Why does the text suggest that interest-based negotiation can lead to win-win outcomes?
What does having options in real estate investing provide according to the text?
What does having options in real estate investing provide according to the text?
Why is it important to have various options for selling a property, as mentioned in the text?
Why is it important to have various options for selling a property, as mentioned in the text?
What is highlighted as the most critical factor in real estate negotiations according to the text?
What is highlighted as the most critical factor in real estate negotiations according to the text?
Why does the text mention asking sellers questions about their properties?
Why does the text mention asking sellers questions about their properties?
What kind of relationship does the text suggest establishing with a property management company?
What kind of relationship does the text suggest establishing with a property management company?
What is the importance of discovering a seller's motivation during negotiations?
What is the importance of discovering a seller's motivation during negotiations?
Why is it recommended to listen more and speak less during negotiations?
Why is it recommended to listen more and speak less during negotiations?
How can shifting the blame for a low offer onto someone else benefit the negotiation process?
How can shifting the blame for a low offer onto someone else benefit the negotiation process?
What is a common response when someone is asked, 'Is that unreasonable?' during negotiations?
What is a common response when someone is asked, 'Is that unreasonable?' during negotiations?
In interest-based negotiation, what is the primary focus when trying to reach an agreement?
In interest-based negotiation, what is the primary focus when trying to reach an agreement?
What is the difference between interest-based negotiations and position-based negotiations?
What is the difference between interest-based negotiations and position-based negotiations?
Why should negotiators be okay with walking away from a deal?
Why should negotiators be okay with walking away from a deal?
What is the advantage of interest-based negotiations over position-based negotiations?
What is the advantage of interest-based negotiations over position-based negotiations?
What is one key aspect of negotiating that can lead to successful deals?
What is one key aspect of negotiating that can lead to successful deals?
What should negotiators focus on understanding in interest-based negotiation?
What should negotiators focus on understanding in interest-based negotiation?
What is the primary difference between positional bargaining (PB) and integrative bargaining (IB)?
What is the primary difference between positional bargaining (PB) and integrative bargaining (IB)?
When does it not make sense to use interest-based negotiating techniques?
When does it not make sense to use interest-based negotiating techniques?
What is the first step in analyzing interests in a negotiation according to the text?
What is the first step in analyzing interests in a negotiation according to the text?
In negotiation, what should you highlight in one color to determine where interests align and conflict?
In negotiation, what should you highlight in one color to determine where interests align and conflict?
When analyzing alternatives in negotiation, what should be considered?
When analyzing alternatives in negotiation, what should be considered?
Why might interest-based negotiating techniques not make sense when dealing with houses owned by HUD?
Why might interest-based negotiating techniques not make sense when dealing with houses owned by HUD?
What is a key aspect of interest-based negotiation according to the text?
What is a key aspect of interest-based negotiation according to the text?
What is the best way to move forward in a negotiation after identifying crucial interests?
What is the best way to move forward in a negotiation after identifying crucial interests?
What should you do when determining interests in a negotiation according to the text?
What should you do when determining interests in a negotiation according to the text?
What should be done after brainstorming potential actions in a negotiation?
What should be done after brainstorming potential actions in a negotiation?
