Best Practices in Negotiation: Raise Your Prices!
himself through an agent, but his agent’s strategy was to wait to submit an offer until I reduced the price. Deciding I needed a way to smoke out his interest, I raised the price by 0,000!
I knew that the multiple listing service would automatically notify the agent, so I didn’t need to do anything but wait for the response.
He and his agent were flummoxed by my gambit, but she contacted me right away. Within 24 hours he made a written offer, fearing he’d have to pay a hundred-grand more for the place.
They don’t teach you this strategy in real estate school!
But it’s rational, if you think about it.
Consider telling prospective clients, “If you give me a quick order, this keeps my costs low, and I can pass on the savings. If you delay or I’m forced to follow-up relentlessly, then it costs me more and I’ll need to pass the costs along to
