Hunter Estess of New Orleans brings a lot of experience to the table when it comes to real estate investing.
New real estate investors think that real estate negotiations require just one round of preparation and planning. They do not. Every successful deal consists of many small negotiations at various stages. Every phone call, every letter, every communication is a negotiation. Before you do anything, you want to think about what response you want and then craft your message in a way that will maximize your chances of getting a positive response.
Sometimes real estate investors try to negotiate quickly hoping that the other party will forget or overlook something important that will come up only after the deal is closed, when it will be too late to do anything about the issue.
A quick deal violates many negotiation rules and is rarely the right way to go. If you choose to increase the speed of any negotiation, you need to do so with extreme caution.
It is essential for a mutually agreeable deal to have both parties satisfied. Overly quick negotiations usually make one party feel bitter and cheated. While in many instances it is just a perception, perceptions do matter if you want to do repeat business with the same people. Usually each participant of a negotiation needs to feel that they have won a number of concessions to be able to say that they have done their job well.
Learn to go through the motions of a negotiation slowly just like Hunter Estess does, even if you are satisfied with the terms and the price.