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Replay
 

The following information is for the live call on deal structure and negotiation from the angle of Tessera.
This is part one of a two part mini-series.

PART ONE

Mental Preparation Setting the Stage

• We join our suffering without knowing it
• We project desperation
• Knowing we project desperation causes anxiety
• Anxiety causes resistance
• Un-locatable resistance causes uncertainty
• Uncertainty causes us to seek answers to problems that don't exist
• This leads to Automatic Negative Processing (ANP)

Negotiation and Mindset

Information Leverage

• Gaining information relieves anxiety
• Questions: Empathetic asking builds rapport
• information allows you to create a strategy

Emotional Leverage

• Questions show pain and motivation
• Reflect the pain back to them and validate their suffering
• Incongruity = self conclusion
• Answer the tough questions with common sense
  - What if they trash the place? (insurance)
  - How do I know they will cash out? (loan officer leverage)
  - How long have you been doing this? (put it on the team)

Common Sense and Fact Leverage

• Repeat what they told you (agree it's fair, but it also shows their desires may be false)
• Show them what's selling
• Show them who's getting financed
• Show them your team as of being service to them (You're a principle, but your team is on their side)

Deal Structure and Common Sense

• People only sign by self conclusion.  Know intuitively if you've got the deal before meeting the seller
• Look for the psychology behind the agreements and what they stand for
• Removing liability from yourself
  - Don't put yourself in the middle if you can't pay
  - Know your state laws
  - Use the right words when assigning
  - Use the right verbiage when taking a deposit
• Removing liability from the seller (during an assignment)
  - Use agreements that cater to their self interest
  - Give them sample agreements to show their attorney
• Removing liability from the buyer
  - Make sure the deal price is accurate and fair
  - Don't forget the insurance
  - Give them a way out if need be (72 hour right of rescission)
• Do only what you can do
  - Don't make investing a job, learn good partnership skills
  - Learn to joint venture to keep the funnel full
  - Have an attorney at all times

PART TWO COMING SOON

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Coming Soon!

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