Tips on negotiation and deal making for young people breaking into the industry?
Dear sub, what is a good way to get better at negotiating and making deals? i feel like they don't teach us very much about negotiation tactics at school... are there any good tips you recommend to negotiate at a corporate level? 
[{"id": "i77j7gc", "text": "Go through a casualty, default, and tenant delay situation at least once. You\u2019ll get better real quick.", "replies": [], "depth": 1}, {"id": "i77mn21", "text": "Be as open as you can and look for what both parties consider a fair shake.", "replies": [], "depth": 1}, {"id": "i77p1uo", "text": "Game theory", "replies": [], "depth": 1}, {"id": "i77y3u1", "text": "Fuck you, pay me.", "replies": [], "depth": 1}, {"id": "i780skb", "text": "Read the book, \"Never split the difference\" by Chris Voss. It's one of the top 20 books for real estate agents. Very good stuff by a guy who used to negotiate for hostages lives... Splitting a hostage in half and each side keeping half is NOT negotiating. Enjoy!", "replies": [{"id": "i78qjkp", "text": "Agreed, love Voss but the best way to get better at negotiating is to negotiate. Better yet, to lose some negotiations", "replies": [{"id": "i78rbs2", "text": "Yes agree that practice makes perfect but it helps to make sure you have the right tools in your toolbox first. Read educate practice...", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "i78hg3l", "text": "What type of role are you in that you\u2019re looking to negotiate as part of your role? I am in commercial real estate property management and I negotiate leases and renewals. I\u2019m in my 30\u2019s and I have been doing this for 12 years\n\nThe key to negotiating leases for me is understanding every clause and what it does for property management, asset management and facilities management and if it\u2019s going to be a pain in the ass for Accounting. Also I know my numbers inside and out. I know what the debt services at the property monthly that includes mortgage payment, building insurance, Real estate taxes and in blended average of repairs and maintenance. I know what the pro rata  share based on square footage is for the space so I know what my breakeven number is before we ever even start negotiating\n\nI also know what fair market rent is, and I know what the operating cost per square foot is before negotiating \n\nThe first time I realized that knowing all of that information was pertinent to lease negotiations was win an asset manager asked me to accompany him to an industrial tenant space. They wanted to cut it in half and pay 50% less rent or they were threatening to move. They were a gross lease . They were a newspaper press putting up a wall was not only difficult considering the entry points and the bathrooms but even then finding another tenant for 50% of the space would take a special tenant who would not care about giant machinery making loud noises nonstop for two days a week. The asset manager walked thoroughly around with the operations manager plotting out every scenario in which they could divide the space\n\nI followed along. When we got outside in the parking lot the asset manager asked me who had been in charge of facilities what I would do in the situation and I agreed that it would be difficult to split but there\u2019s not much else we could do.\n\n\nDriving back to the office I realized that these tenants moving out would cost thousands and thousands of dollars to move their machinery out of that space let alone find another space in the time that they had in their lease and I realized that they were just trying to reduce their rent. I could give up to 15% instill cash flow so I went back with a 10% reduction to the asset manager and explain he had up to 15% after looking at the numbers and that we would have to extend for a term of at least five years with the rent reduction being affective only in years one and two and then in three through five we would make up for what we reduced rent by by adding a fair market clause to bring went back to Fair Market Value in those years. The tenants took the deal at 12% reduction. There was no costly build out, there was no Costly move out, there was no 50% reduction in rent and 50% vacancy with a difficult Fill. \n\nBut bro your asset management.", "replies": [{"id": "i79lsy4", "text": "Thanks man! appreciate the insight and the story. Just rational thinking and being an expert in your stuff already goes a long way in negotiation it seems.", "replies": [{"id": "i7ujesz", "text": "Lady, though. And that\u2019s a whole other strategy in this male dominated industry \ud83d\ude1c", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "i7cesms", "text": "The biggest trick in negotiating is figuring out who is in the biggest hurry?", "replies": [], "depth": 1}]