I have always been obsessed with negotiating because I constantly felt outgunned. I was not born rich or well-connected. As a result, I worked incredibly hard to level the playing field between myself and affluent clients.
More importantly, I have discovered three key rules for negotiating in luxury real estate that could make or break your success.
1. Build Standing
You want to build your standing or preeminence in the marketplace. You achieve that through your personal promotion, writing, and speaking. When it comes to speaking, I encourage you to speak locally about your market when it’s safe again.
2. Never Assume
Never assume that you know what others want. Always clarify and ask lots of questions.Never assume that you know what others want. Always clarify and ask lots of questions. Click To Tweet
3. Detach from the Outcome
If you want a magic bullet for dealing with billionaires, be perceived as being willing to walk away—not needing a deal. Wanting a deal is fine. Needing the deal is bad.
Watch this video to learn more about my three rules when it comes to luxury negotiations.
Until next time, make it a great week.