Mastering the Art of Negotiation in Real Estate: An Interview with Jeff Cichocki

In this insightful episode of the Idaho Real Estate Investing Show, Jonna Weber interviews Jeff Cichocki, a seasoned real estate investor and lending expert with over 20 years of experience. Together, they dive into the essential skill of negotiation, a key factor in achieving success in real estate investing. Here’s what they discussed:

Jonna Weber: Welcome to the show, Jeff! I’m so excited to have you here today. Negotiation is such an important skill in real estate, but it's one that often gets overlooked. Can you share why negotiation is so crucial in real estate investing?

Jeff Cichocki: Thanks for having me, Jonna! You're absolutely right—negotiation is essential. In real estate investing, it’s not just about buying properties, it’s about solving real estate problems. The way you approach negotiations can make or break a deal. I’ve learned that it’s about understanding what the other party needs and aligning those needs with a solution that works for both sides. When you can do that, you’re more likely to close deals and create win-win scenarios.

Jonna Weber: I love that shift in mindset—from focusing on the price to focusing on the problem. So, what is your approach to negotiation?

Jeff Cichocki: Great question. My approach revolves around three key strategies: mirroring, labeling, and silence. These techniques are simple but incredibly effective. Mirroring involves repeating key phrases the other person uses to get them to elaborate. Labeling is about acknowledging their emotions, which helps build rapport and trust. And silence is a powerful tool—people tend to fill the silence with more information, which is exactly what you need in a negotiation.

Jonna Weber: I’ve heard a lot about silence in negotiations, but I’ve never really thought about how powerful it could be. Can you give us an example of how silence works in real estate negotiations?

Jeff Cichocki: Absolutely! Let’s say a seller tells me they need $200,000 for their house. Instead of jumping in with a counteroffer, I’ll simply repeat, “$200,000?” and pause. The silence creates a pressure for them to fill the gap, and most of the time, they’ll start explaining why they need that price. They’ll tell me their story, and that’s when I can truly understand their situation and find a solution that works for both of us.

Jonna Weber: That’s such an interesting approach. It sounds like it’s about creating a conversation rather than a typical sales pitch. How does this work for a seller, though? Does the same technique apply if you’re on the other side of the table?

Jeff Cichocki: Absolutely! The techniques are the same whether you’re a buyer or a seller. As a seller, your goal is to understand what the buyer needs. If you ask the right questions and mirror their answers, you control the conversation. The key is to find out what the buyer really wants and help them solve their problem. If you can do that, you can often get the price you want without having to negotiate aggressively.

Jonna Weber: That’s brilliant. It sounds like negotiation is really about understanding people, not just the deal itself. Now, speaking of people, I know you’ve spent a lot of time mentoring and coaching others. For those who are new to real estate investing, what advice do you have when it comes to negotiations?

Jeff Cichocki: I always tell people, don’t rush into negotiations. Take the time to listen and understand the other person’s needs. Whether you're working with a buyer, a seller, or even a lender, if you can create a space for honest communication, it’ll set you apart. Remember, most people are relying on texts and emails, but picking up the phone and having a real conversation can make all the difference.

Jonna Weber: Such a great point. Communication is key! And, speaking of real estate, we’re getting ready for the Idaho Real Estate Investing Conference (Idaho REICon) on October 10th. You’ll be speaking at the event, right? Can you give us a preview of what you’ll be sharing?

Jeff Cichocki: I’m really looking forward to it! At Idaho REICon, I’ll be diving deeper into negotiation strategies, focusing on how to handle tough deals. The conference is such a great opportunity not only to learn from speakers but also to connect with other local investors. Networking is crucial in this business—whether you're looking for a partner, a lender, or someone to buy your deals. The community aspect is what makes events like Idaho REICon so valuable.

Jonna Weber: I couldn’t agree more. So, for anyone thinking about attending, why would you recommend they invest in a day at the conference?

Jeff Cichocki: If you’re serious about growing your real estate portfolio, attending a conference like Idaho REICon is a no-brainer. You’ll get valuable knowledge from industry experts, but more importantly, you’ll make connections that could lead to your next deal. Networking with other investors is one of the fastest ways to learn and grow in this business. So, don’t miss it!

Jonna Weber: Thank you so much for sharing all of this with us today, Jeff. I know our listeners are going to walk away with some actionable insights. And for anyone looking to connect with Jeff and his team at Alpha lending will be speaking at Idaho REICon on October 10th. Don’t miss the chance to learn from one of the best in the business!

Investing in you,

Jonna Weber

This Conference is for You

If you’re feeling the nudge to get started—or to do it differently this time—join us.

You don’t need to have 100 doors to belong.
You just need a desire to grow.

The Idaho Real Estate Investing Conference on October 10th is your chance to meet fellow investors from across the state, learn from speakers like Julie Holly, and walk away with clarity, community, and a game plan.

⭢️ Tickets and details at idahorein.com/conference