When we deeply understand a concept, process, or set of facts, it can be incredibly challenging to imagine what it’s like to lack that knowledge. This describes a cognitive bias known as the “Curse of Knowledge,” also known as the “Curse of Expertise.”
This one sneaks up on us…
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.
If you are wondering how the rising interest rates affect your specific purchase plan, this video is a MUST VIEW! It is worth understanding your mortgage payment on a deeper level, so you can make an informed decision regarding your dream to buy a new home.
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.
The use of imagery, metaphor, and analogy can be incredibly effective when conveying a new concept, “shining a light” on a blindspot (look at that – imagery to promote imagery!), or weighing available options when making a decision.
Have you ever calculated how an increase in mortgage interest rates actually affects your purchase in real dollars?
Great news! Real Estate Negotiation Institute’s popular Certified Negotiation Expert (CNE®) – Core Concepts Course is now offered live ONLINE. My next RENI Live! Online CNE-Core Concepts Seminar is December 13th – 15th from 10AM-3PM. It is also your LAST OPPORTUNITY to take the CNE-Core Concepts Course this year! Your ability to negotiate effectively has never been more important […]
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