How to Use LOWBALL Offers to Negotiate Like a Pro | Ben Mallah

About this Video

• Video Title: How to Use LOWBALL Offers to Negotiate Like a Pro | Ben Mallah
• Channel: The Iced Coffee Hour Clips
• Speakers: Ben Mallah
• Duration: 00:08:07

Introduction

This video features Ben Mallah sharing his expert negotiation tactics, focusing on the strategy of making lowball offers to achieve favorable deals in real estate and other situations. He emphasizes the importance of approaching negotiations with a focus on numbers and remaining unemotional, illustrating his points with anecdotes from his career.

Key Takeaways

• Lowballing as a Negotiation Tactic: Start negotiations with a lower offer than expected, but not unrealistically low. The goal is to find a mutually beneficial price point.
• Importance of Impartiality: Maintain an unemotional and business-like approach during negotiations. Focus on numbers and value rather than personal feelings.
• Negotiating Everything: Ben Mallah advocates for negotiating prices in all aspects of life, from Uber rides to real estate deals, believing it's crucial to avoid overspending.
• Strategic Over-Offering (Counter-Intuitive): In some situations, offering a significantly higher price than initially quoted can lead to better outcomes, depending on the situation and the type of good or service.
• Bank Negotiations: Ben Mallah highlights the success he's had negotiating with banks, particularly regarding non-performing loans, because they are often motivated to quickly offload assets.