A property investor's guide to negotiating
A Property Investor's Guide to Negotiating, by John Potter
John Potter has been in the property business for four decades, learning many lessons along the way about negotiating strategies.
He shares these lessons in this book to educate readers to become better negotiators, and therefore better investors.
According to Potter there are 10 essentials:
- Timing is everything
- You make your money when you buy - Don't necessarily take the first offer
- It's always good to have another buyer
- You never go broke making a profit
- Develop rapport
- Never give up on a possible sale - Make concessions count
- Never lose your cool
- Help your opponent come to grips with the deal - aim to leave everyone smiling.
The decision to make an offer on a property is a big one and of course one of the first questions you ask yourself is, how much?
Potter addresses this subject as well as other interesting topics such as inspecting a prospective home for the second time and how taking the kids with you both times can affect your negotiating powers.
Potter also explores the importance of advanced negotiation strategies as deals become bigger and more complex, and the importance of being a good "listener" and "asker".