Audio Coursesby JellypodLesson 07 of 9
Overview
Mia Arnold: Hey everyone, welcome back to Expert Real Estate Secrets! I’m Mia, and as always, I’m here with Don. Today, we’re diving into one of my favorite topics—negotiation. But not the old-school, “I win, you lose” kind. We’re talking about negotiation as a partnership, right Don?
Don DeRosa1: Absolutely, Mia. I mean, if you’re just trying to beat the other side, you’re missing the point. The best deals happen when you’re solving the seller’s problem and still protecting your own interests. It’s not about crushing the other person—it’s about finding that win-win. And honestly, that mindset shift is huge for new investors.
Mia Arnold: Yeah, and I think a lot of people get tripped up right at the start. Like, they walk in thinking, “I have to get the lowest price, no matter what.” But if you set expectations early—what we call early conditioning—it just makes everything smoother. I remember this one seller, she was so stressed, thinking I was just there to lowball her. But once I explained, “Look, I’m probably not your highest offer, but I am your fastest and easiest option,” you could see her relax. Suddenly, it wasn’t about beating each other, it was about finding a solution together.
Don DeRosa1: That’s a great example. And, you know, setting the tone early—just like you did—makes the rest of the conversation way less combative. It’s like, “Hey, we’re on the same team here, let’s figure this out.”
Don DeRosa1: So, let’s talk about how you actually keep control of the conversation. The person asking the questions? They’re the one steering the ship. If you’re just answering, you’re reacting. But if you’re asking, you’re in control. And, honestly, active listening is your secret weapon. Most people talk too much because they’re nervous, but if you just shut up and listen, you’ll learn what the seller really wants.
Mia Arnold: Totally. And there are some fun techniques you can use, too. Like, anchoring—throwing out the first number to set the range. Or bracketing, where you give a lower range to nudge the conversation toward your target. And, Don, you’re the king of using silence. Didn’t you have a deal where you just… didn’t say anything, and the seller dropped their price?
Don DeRosa1: Oh yeah, that one sticks with me. The seller gave me their price, and I just paused. I mean, I didn’t say a word. It got awkward, but people hate silence. After a few seconds, he started talking again and actually lowered his price by ten grand—just to fill the gap. Sometimes, the best thing you can do is just… zip it.
Mia Arnold: I love that. And then there’s the red herring—throwing out a small issue you can give up later, so the seller feels like they won something. Or even just using a flinch, like, “Whoa, that’s a lot more than I expected!” It’s all about steering the deal without being pushy.
Mia Arnold: Now, let’s get into building trust and handling objections, because that’s where a lot of folks freeze up. I always lean on empathy, and the “Feel, Felt, Found” method. Like, “I understand how you feel. Others have felt the same way, but they found this helped them move on faster.” It’s not about arguing—it’s about showing you get where they’re coming from.
Don DeRosa1: Exactly. And don’t forget the reluctant buyer approach. If you act like you’re not desperate, you keep your power. The person who needs the deal less always has more leverage. I’ll say, “I like the house, but I’m not sure it makes sense for me right now…” and just let that hang. Sometimes, the seller will start selling you on why you should buy it!
Mia Arnold: That’s so true. And honestly, the only way to get good at this is to practice. I used to do weekly role-play sessions—just running through tough objections with a partner. It made such a difference. When you’ve practiced, you don’t panic when someone throws a curveball. You just breathe and respond calmly.
Don DeRosa1: Yeah, and building rapport fast—mirroring their tone, their energy—it’s huge. People sell to people they like. If you’re stiff or robotic, you’re gonna lose them.
Don DeRosa1: Alright, so you’ve built trust, you’re in control—now how do you keep your leverage and actually close? First, you gotta know your walk-away point before you even start. If you don’t, you’ll end up making concessions you regret. And don’t be afraid to use conditional language—like, “If I can close in two weeks, then I’d need the price to be here.” It guides the negotiation without making you sound rigid.
Mia Arnold: And deadlines! I know some people are scared to use them, but a real, sincere deadline can help move things along. Just make sure you’re honest about it—if you say, “I need to know by Friday,” you have to mean it. Otherwise, you lose credibility, and that trust you built goes out the window.
Don DeRosa1: Right. And sometimes, just being willing to walk away is your biggest leverage. If you’re not desperate, the seller feels it. They know you have options, and that’s powerful.
Mia Arnold: Let’s get into some advanced stuff. Strategic concessions—this is where you identify things that aren’t essential to you, and you give them up to build goodwill. Like, maybe you let the seller keep the appliances, even though you don’t really care. It creates momentum and makes them feel like they’re winning.
Don DeRosa1: And don’t forget to back up your position with data. If you can show market comps or trends, your offer looks way more reasonable. It’s not just your opinion—it’s what the numbers say. That makes it easier for the seller to accept your terms.
Mia Arnold: Yeah, and when you’re making your final offer, frame it as a solution for both sides. Like, “Here’s how this helps you move on, and here’s how it works for me.” It’s not just about the price—it’s about the value you’re bringing to the table.
Don DeRosa1: So, you’re at the finish line—how do you make sure nothing falls through the cracks? Have a clear closing plan. Spell out every term, every contingency, every next step. That way, there’s no confusion, and everyone knows what’s happening.
Mia Arnold: And don’t be afraid to use visual aids. I’ll bring charts, market data, whatever helps reinforce my position. It shows you’re prepared, and it gives the seller confidence that you know what you’re doing.
Don DeRosa1: Plus, after you’ve got the agreement, keep following up. Check in, answer questions, make sure they feel supported. That’s how you avoid last-minute surprises and keep the deal on track.
Mia Arnold: Alright, last piece—what happens after the negotiation? You want to do a detailed review of the agreement. Make sure every term is documented and everyone’s on the same page. No assumptions.
Don DeRosa1: And set up a follow-up schedule. Stay in touch, address any issues that pop up, and keep that trust going. It’s not just about closing this deal—it’s about building a reputation for being reliable and fair.
Mia Arnold: And always, always have a contingency plan. If something comes up—like a last-minute objection or a deal-breaker—you’re ready. That way, you protect yourself and make sure the transaction actually gets to the finish line.
Don DeRosa1: Couldn’t have said it better. That’s how you go from just making deals to building a real business. And hey, if you missed our last episode on finding motivated sellers, go check it out—because all these negotiation skills work even better when you’re talking to the right people.
Mia Arnold: Absolutely. Thanks for hanging out with us today. We’ll be back soon with more real-world strategies. Don, always a pleasure.
Don DeRosa1: Same to you, Mia. See you next time, everybody!
