We share ways to negotiate that will help you in regardless of the business you are in. If you own a company, invest in businesses, are an employee who can improve your salary, we discuss the art of successful negotiations.
https://www.youtube.com/live/NCo-VVgUNzY
King of Real Estate in Erie, PA Laban Marsh, Entrepreneur Extraordinaire Nedvonne Young, owner of FreshFold Laundry Co in Chapel Hill, NC are here because they are so much Broker Than You. We get into the art of negotiations, why people struggle and how to imrpove.
Laban starts with having a strategy when it comes to pricing a Real Estate property. Don't be afraid to go big, a higher asking price can bring in more offers. However, sellers must understand the home may sit on the market, and as time passes, you may have to drop lower than intended.
Fresh said the best negotiating tactic is walking away, saying no. Many people hear no and will keep pressing for a yes, which ends up looking desperate. Nedvonne said by walking away, you regain leverage, take a few days, come back and your offer carries weight, and watch as it's accepted.
If Laban prices a house high and someone is interested, he fully believes never make an offer first. Representing the seller, see how close the buyer comes to asking. They make the first move, now Laban is in control. He can negotiate for 5 to 10 grand more and usually get it.
Fresh disagreed, Laban and Nedvonne debated about coming out swinging. Fresh said it shows you have confidence and will put your money where your mouth is. Laban's strategy is letting the other person themselves by throwing out numbers.
Laban also said in situations, he will intentionally price a home lower than it's worth. Now, he said several buyers may bid because they see it as a deal. They drive the price up on their own, Laban smiles while it happens.
People are poor negotiators for many reasons. Lack of confidence, imposter syndrome, afraid to even ask, afraid of being told no, and really afraid of confrontation. Laban and Nedvonne say everything in life is negotiable. Don't overspend or leave money on the table because of not trying to communicate with the other person.
An insightful episode that will help people with the art of negotiation. We give you tips, ideas, examples of how we all successfully negotiated and it made a difference!
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