You may be negotiating the sale of your fix & flip property with a fussy homebuyer … or a contract with your rehab project partners … or what repairs are and aren’t included in the price from your contractor. What are some smart and effective ways to tilt the final decision in your favor?

Never forget that, regardless of the number-crunching and the list of pros and cons, important decisions are made emotionally – even business decisions. Logical decision factors encourage confidence, a key decision-making emotion.

What are some ways to help the other party feel comfortable with whatever you are asking?

• Do something nice.
  Before negotiations start, do something the other party will enjoy. They know you are buttering them up, but it is still likely to help create a more positive negotiation. Gift certificates can be handy. Perhaps a home-decorating store certificate or discount coupon for a bargaining prospective homebuyer, or a restaurant gift certificate to a future partner or realtor to enjoy with his or her spouse.

• Offer an expert’s advice.
  Bring in a disinterested third party to give their advice and opinion on a sticky point, be it a contract clause or the true condition of a home foundation. Even though the other party knows you want to influence their decision, at the same time they’ll evaluate for themselves that the expert is speaking forthrightly.

• Timing.
  Know what pressures the other party is under – an REO broker with a quota deadline; a seller falling behind on loan payments; a homebuyer wanting a move-in date before school starts. Ask for a decision when the other party is more likely to agree in order to conclude the deal quickly.

• Make sure you are talking to the decision-maker.
  You may be talking to the other party’s business partner, spouse, best friend, even their realtor … but is this the person who will actually make the decision? Your negotiation target may have invited someone who will ask questions and discuss at length, even though this guest is just along for the ride! Do they have true influence, or are they just a distraction and time-waster? (But don’t forget that if the party you’re negotiating with doesn’t want the deal – maybe this person will!)

Shake loose the decision you want! It doesn’t matter if the other party sees through some of your gestures as negotiation tactics – often these tips still work, if offered sincerely, positively and with no strings attached. Give these savvy negotiation tactics a try and watch the difference in your results!

Could your negotiation skills use some help? What savvy strategies have been most successful when you are negotiating?

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