How your negotiation can fall apart

- [Instructor] Now a quick list of what not to do. Very simply, don't use the word between. Don't say, well I might fix this roof between $10,000 and $15,000, because imagine what the seller is going to hear, they're going to hear the 10. Be direct be succinct, give solid numbers. Number two, don't say something like we're getting close. What does that mean? What does getting close mean? It's not something that's clear, it's not something that's concise, it's not something that the seller is going to be able to understand. Number three, don't verbalize that you're the final decision-maker. You have investors, you have realtors, you have contractors, you have other people with whom you must consult. Remember, you're willing to walk away and this has to be a win-win scenario. If they seem to be proposing a solution that maybe works for them, but not you, you may need to consult with other decision-makers on your team. Give yourself that opportunity so that you can gather legitimate information and come back with a valid response. If you're the final decision-maker, they may not see that as a valid way of dealing with the negotiation. But if you have others you need to approach before it ends, they'll see that as a logical step. Mr. Johnson, I really appreciate what you're proposing, unfortunately, I'll need to speak with my contractor to see exactly what this repair is going to mean, as a result, I can't accept that number. Number four, don't take things personally. I think this is the most challenging of all things not to do. But it's so important, you're there together working to find a solution. If something doesn't work, it's not about you, it wasn't your problem, it wasn't that they dislike you, there just wasn't a solution. And since there wasn't a solution you can part as friends. Or if the seller gets aggressive in a specific point that's fine, understand that that aggressiveness is telling them what of their needs. And remember as a friend, you're going to need to listen carefully and you're going to find a solution. They're not attacking you, they're trying to find a solution, don't take things personally. And lastly, be careful to not interrupt, let the seller do most of the talking. See if you're interrupting a seller, it means that you're trying to convince them of something that they maybe don't believe or you're trying to convince them of a need that they don't have. If you haven't listened long enough to understand what it is that they need and where they're coming from, well, then you obviously don't have the solution. So don't interrupt them, let the seller do most of the talking.