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.
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.
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 […]
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 […]
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
“America was not built on fear. America was built on courage, on imagination and an unbeatable determination to do the job at hand.” — Harry S. Truman We have a responsibility in this life to care for one another, educate and inform each other, lend a hand when one is needed and do right when […]
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