5 Strategies to Win at Negotiations

Hey reader,

Today, we're dissecting the psychology of negotiations. If you've watched a mafia movie, you've seen the iron fist approach to negotiations. And maybe you've read Chris Voss' book on hostage negotiations - Never Split the Difference.

Which side wins - Corleone or Voss?

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The Challenge You’re Facing

In any negotiation, both parties are using deliberate tactics to gain an advantage. The perception of value is constantly shifting. There's terms, price, concessions, and timelines.

Hidden psychological forces are beneath the surface throughout:

• mental shortcuts

• scarcity principles

• unconscious biases

• cognitive blind spots

• even group dynamics

• anchoring and framing

The Pitfalls of Ignoring Psychological Factors

Neglecting these mental undertones is a critical mistake that can lead to:

• missing hidden interests

• clinging to poor positions

• hurting relationships and rapport

• conceding more value than needed

• inaccurately valuing parts of the deal

In essence, you may be leaving tremendous value on the table without even knowing.

Social Influence

Find commonalities, norms and reciprocity. People trust others who share similar interests.

Next Steps

Motivated sellers want to sell. It's the crown jewel of real estate investing.

But don't ask WHY they're selling. People interpret the word WHY as a confrontation.

Instead ask, "what are the next steps after this sells? Answering WHAT is collaborative.

Tactical Framing

When naming a price to sell, make it too high. When buying, make it too low. Everybody avoids this at first because you don't want to upset the other person.

If you've built rapport, you're framing the price in their mind. You'll see this strategy used in criminal sentencing, too.

Value Creation

Before discussing the sale, try to solve the other person's problem in a way that doesn't involve you.

Statements like "have you thought about this?" creates a problem-solving collaboration.

Now, you're perceived as a helper instead of an adversary.

Debiasing Disciplines

Immediately after the negotiation, consider what you would change. Write this down. This is important. You'll see patterns emerge.

Practice them, so you're better prepared next time.

In every negotiation, psychological factors are at play. Make sure you're the one leveraging them.

Mastering this mental edge will enable you to:

• build stronger relationships

• outmaneuver the other side

• and achieve elite outcomes

The best part - this skill will serve you at home just as much as in your business.

Stay aware and stay in the game my friend,

Chris

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