Remember the show, “Are you smarter than a 5th grader” or the book, “All I really need to know I learned in Kindergarten.”? Well, add Negotiation Skill and Prowess to the list of things we can learn from our children.
Also known as the “Double Down” Strategy, the Martingale is a betting strategy involving doubling the bet after each loss. In negotiations, the ‘double-down’ strategy is often employed as an ‘intimidation tactic’ using reckless maneuvers, bluster and a rapid escalation of the stakes to compel the other side to comply. In this video I explain the flaws in the Martingale Strategy though blackjack memory from teenage years.
Warning: The Endowment Effect can cause friction, positional bargaining, and entrenchment, which may result in both parties walking away in spite of their best interest. Are you prepared to address it? For more valuable content SUBSCRIBE and follow @EiriktheExpert on Instagram.
My next RENI Live! Online CNE-Core Concepts Seminar is June 7-9 from 10AM-3PM.
Your ability to negotiate effectively has never been more important – and successfully influencing others, building and maintaining trust-based relationships and creatively bringing deals to a close will determine your future and your clients’ success. Join Instructor Eirik Davey-Gislason for this valuable seminar and earn one of the most beneficial and sought-after designation in real estate – Certified Negotiation Expert, CNE®.
Silence is an incredibly effective competitive tactic because many of us feel very uncomfortable or overwhelmed with even a few seconds of silence during a negotiation. Get comfortable with silence and let the other side speak first.
You’ve been there. You are at an open house for a first floor apartment staring out the bedroom window estimating the distance to the sidewalk, gauging the noise levels from traffic, and waiting to see if passers by look directly into the apartment as they pass. You whisper under your breath, “I love this apartment, […]
When I was an 18-year old high school senior, my best friend Nate and I enjoyed jumping on the late night bus to a nearby casino with dollar signs in our eyes, adrenaline pumping through our veins and a $20 bankroll our shallow pockets. Our goal was not incredibly ambitious – make $20 last as […]
I have lived in ground floor apartments in NYC for the last fourteen years. In fact, we recently purchased another apartment on the – wait for it – yes, the first floor. We move in later this month, which means we are committed to first floor living for the foreseeable future – and we love […]
Time for a little holiday levity! I think the following picture* sums it up pretty well. To all of my buyers, sellers, appraisers and tax assessors, a very Happy Holidays! YOUR HOME AS SEEN BY… *credit to @LOFMath for the original image and post