Let's make a deal

I really love to negotiate. It's my favorite part of my job, even though sometimes it's frustrating to negotiate on behalf of other people.

Two things I always keep in mine during negotiations are a) You have to care less than the other person -- always have a backup option, and b) Both sides have to wind up feeling as if they "won" -- if not the war, at least a battle.

As a buyer, the worst thing you can do is fall in love with something before it's yours. The bigger the purchase, the more important this principle is. But you have to really be willing to walk away -- not just bluff. Otherwise, you'll come crawling back, look like an idiot and have no leverage whatsoever.

I'd be remiss not to note that the second-worst thing you can do is be stupidly stubborn. Don't cut off your nose to spite your face.