According to John Potter there are 10 lessons to learn to be a successful negotiator:
- Timing is everything
- You make your money when you buy
- Don't necessarily take the first offer
- It's always good to have another buyer
- You never go broke making a profit
- Develop rapport
- Never give up on a possible sale
- Make concessions count
- Never lose your cool
- Helping your opponent come to grips with the deal aim to leave everyone smiling.
In Property Investor's Guide to Negotiating
, John illustrates these lessons through real life examples and entertaining stories from his career in property development.
The expectation in property investment is that you will do well out of the deal, but this is not often matched by the reality because people aren't educated enough about negotiation.
I have learnt many lessons along the way some were harder to learn than others says John. He shares these lessons in this book to educate readers to become better negotiators, and therefore better investors.
About the Author
John Potter's stellar career in real estate and property development spans decades. A highlight was his tenure as CEO of Villa World, when the company had a high volume of unsold homes due to the introduction of GST in 2000 and a net profit after tax of approximately $5 m. Under his leadership, company profits soared to $12 m, $18 m and then $24 m, until his resignation in September 2003. His secret was his ability to do very good deals. He successfully negotiated 50 large property acquisitions during that time and was considered to be the most effective negotiator on Villa World's board of directors, according to Villa world's co-founder, Tony Bawden. This is John's first book.