When you are seeking to buy, or sell, anything, use the power of the "Dreadful Alternative" as your partner.
What is the "Dreadful Alternative"? Imagine that you are looking to buy a house. As you are starting to talk, ask a few questions:
1) If I don't buy it, what are you going to do? (If they have been trying to sell it for a long time, they are already afraid of not being able to sell it.)
2) If you have to move to another house, and make double payments, how long could you afford to make them before it SEVERELY affected your life style.
3) If you can't make the double payments, would you lose the house in foreclosure and have your credit destroyed?
By asking questions, you are having the seller tell you the answer. If I tell them, it might be a lie, if they tell me, it's always the truth (at least according to them.)
By using the dreadful alternative as your partner in negotiating, you are replacing the price (hope of gain) with the fear of loss. The fear of loss always wins. Because they are the ones stating the fear, it is always the truth. Our next blog will go into detail on some of the techniques to use to maximize the power of the dreadful alternative.
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