TABLE OF CONTENTS Preface Introduction Planning, Preparation & Research Building Rapport & Determining Motivation Making an Initial Offer Bargaining Renegotiating Settlement Chapter 1: Introduction to Negotiation What We Mean By "Negotiation" A Simple Example Negotiation Outcomes Negotiation Strategies How Real Estate Negotiation Is Different Negotiate Everything! Win-Win Isn''t Always Possible Chapter 2: Principles of Negotiation Negotiating Mechanics Concessions: The Currency of Negotiation Leverage: The Power of Circumstance Power: A Balancing Act Momentum: Negotiations in Motion Price & Terms Successful Negotiation = Solving Problems Chapter 3: The Power of Information Information about the Market Information about the Property Information about the Buyer/Seller Chapter 4: Psychology of Rapport Business Is Personal Face to Face Name Recognition Mirroring Talk About Them Make an Upfront Concession And Brag About It When You Cannot Get Face-to-Face Leave Your Ego at Home Leverage Their Ego Keep Building Rapport Throughout Chapter 5: Seller Motivation & Leverage The Information We''re Looking For Getting Information Directly from the Seller Getting Information from Seller Sources Chapter 6: Opening Bid Considerations Define Your Target Point and MAO Write It Down! Target & MAO Example Who Offers First? Avoid Round Numbers Offer Low.But Not Too Low Hold Back Some Concessions The Real Estate Contract The 6 Major Components of an Offer Chapter 7: Your Opening Bid Price Opening Bid Price When Working with Sellers Opening Bid Price When Agents Are Involved Chapter 8: Terms & Contingencies Earnest Money Closing Date Financing Contingencies Other Terms Chapter 9: Delivering Your Offer Make Most Offers in Writing Use State or Attorney Approved Contracts Keep Offers as Simple as Possible Best Practices When Dealing with the Seller Best Practices When Offering Through Agents Best Practices When You''re the Agent Timing of Offers on Listed Properties Chapter 10: Negotiating Tactics Plan Your Strategy Upfront Focus on Things Both Sides Agree On Friction Is Your Friend Use Documentation Use Experts Don''t Lie Keep Your Mouth Shut Don''t Interrupt Appeal to a Higher Authority Bluffing / Take It or Leave It Dealing With Stalls The Most Important Tip of All Chapter 11: Concessions Strategies Rules of Concessions Always Ask for a Final Concession Implement a Penalty for Concessions Taking Concessions Off the Table It Never Hurts to Ask Negotiate Concessions in Chunks Bundle Concessions to Reduce Complexity You''ll Have to Do Better Than That Chapter 12: Defense & Counter Tactics First Things First Defending Against Lowball Offers Defending Against the Nibble Defending Against a Trial Balloon Defending Against Higher Authority Defending Against Take It or Leave It Defending Against Silence Defending Against Lies Defending Against Interruptions Defending Against "Tactical Criticism" Defending Against Threats of Competition Defending Against a Rejected Offer Chapter 13: Renegotiation Principles What Is Renegotiation Risk of Over-Using Contingencies Common Renegotiation Resolutions Renegotiate to Make the Parties "Whole" Determining Who Should Pay When To Ask for More Chapter 14: Renegotiation Scenarios Inspection Contingency Renegotiations Financing Contingency Renegotiations Chapter 15: Negotiating the Sale Agent vs FSBO Setting Your List Price Price and Terms Important Terms for Your Sales Contracts Multiple Offers Situations Escalation Clauses Chapter 16: Buying from Institutions REO Properties HUD Foreclosures Final Thoughts.