Negotiating "Don'ts" for Real Estate Deals
By Sidney G. Saltz
The following are some negotiation "thou shalt nots":
Never belittle your counterpart: Statements such as, "That is ridiculous" or "That is the dumbest request I ever heard" are insulting to your counterpart who not only is offended, but is likely to become more hostile and eager to win his or her points.
Never tell your counterpart that he or she is raising too many points: Stating that you will consider only his or her top X number of comments may hurt the deal in the end. Remember that, as the probable drafter of the document on which your counterpart is commenting, you have created the issues that are of concern to him or her. You may be killing a viable deal or forcing another party with whom your client is making a deal into a business transaction which may be hostile and adversarial as long as it exists.
Never dismiss your counterpart's requests: Answers such as, "We never give that" or "Well, I never heard that one before" or simply "Denied, what's your next point?" belittle your counterpart, whose points should be responded to with sound argument rather than flippantly.
Do not be a "deal killer": No matter how strongly you may feel that a deal is not in your client's best interest, it is not your decision to make. You can advise your client, tell him or her how you feel and why (always "and why"), but the decision is always the client's. It is the client's money and the client, not you, who will have to live with the consequences of the decision.
Sponsoring Entity:
ABA Real Property Trust & Estate Law Section
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