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Updated about 5 years ago,
Red Herring Negotiations Technique - Does it Really Work?
Hello BP! I am listening to Rental Property Investing by Brandon Turner and I'm at the topic of negotiation techniques.
One of the techniques listed is the Red Herring Technique.
Basically its putting something in the contract that would mislead/distract the sell from a more relevant/important issue.
The example in the book was lowering the purchase price offering to dispose of your priceless china (I know the example is a bit over the top, but from my understanding he was just trying to make a point)
To me this sounds really off putting - and would do the opposite of helping you get an accepted offer.
So I want to know:
1. Has anyone ever used the Red Herring Technique?
2. Did it work?
and something extra
3. Is there a different negotiation technique that you prefer?
I've never used this technique but only have purchased a residential home. As I'm preparing to be a real estate investor, it would be great to hear what techniques have worked for other investors.