"Understanding that something purchased in the heat of an auction battle might not be as appealing when the confirmation call comes the next day, I always give auction committees the same advice when discussing best practices: front foot the follow-up."
"If the winner has a night to sleep on it, there is a possibility they will decide that the auction package they just paid triple the asking price for isn't quite as appealing without a cheering crowd of 500 people behind their decision."
"Taking the lead on the follow-up ensures you aren't creating space for a participant to second guess or back out of the deal. This is crucial in negotiations."
"Use the last five minutes of your meeting to finalize the deal points. After you have verbally agreed on the terms, make a show of documenting these points to reinforce commitment."
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