In this episode of "Talking New York Real Estate" Host and Brown Harris Stevens Broker Vince Rocco welcomes Eirik Gislason, Jared Antin, Anna Shagalov, and Jordan Shea to discuss the high stakes negotiations that take place within the luxury real estate market, and more. Filmed at Brown Harris Stevens’ Studio 1873, Part of the Mastery of Real Estate (MORE) Network.

Want my advice? Before we drastically change course, or decide to continue renting for another year or two, let’s calculate how that increase actually affects our purchase in real dollars to make sure we make the best and most rational decision possible. We will work it out together…

If you haven’t read Part 1 of Purchasing An Apartment In New York City, I recommend doing so. In Part 1, I addressed Preparation. Understanding the market, financial requirements to purchase (from both a down payment and debt-to-income perspective), as well as your strengths and weaknesses as a buyer are essential to “winning” an apartment in NYC – and your game plan will position you to seize the opportunity when it arises.

Studies show that children have natural collaborative negotiation skills from a very young age. Unfortunately, those skills tend to diminish as we “grow up” and lose our edge. Watch my video for 5 Negotiation Tips we can relearn from children and use to improve our outcomes in our daily negotiations.

Stories of evil co-op boards, the next great neighborhood and hidden fees often distract buyers from what is most important in the initial stages – preparation.

When the other person says no, takes a stand, or takes an aggressive position, we often respond with our own stand (positional bargaining). We dig in, fight back with a counter-attack, or we just shut down or give in. Instead of going with your knee-jerk, emotional reaction, follow Ury’s advice and “go to the balcony”.