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Hey! Sami Miettinen, negotiator.

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Let's take this anchoring concept in negotiation as an example.

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I'm here on my home turf, in the background is the restaurant Kannas.

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You can get a good hunter's cutlet there.

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The postal code is 00180 Helsinki.

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And let's use that information to anchor the price of my apartment.

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Okay, we've made it inside now.

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In the background, by the way, is a brand-new balcony, this lovely one and a half square meters, absolutely shockingly expensive stuff.

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But one reason, besides the fact that I can now drink a latte here with my wife in the mornings,

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is that it flipped this apartment's square meterage over the hundred-and-four mark.

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That has psychological value, so it was worth taking, even though it was a bit expensive.

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On top of that, I like using options in negotiations.

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It's really important to build options.

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If I hadn't taken the balcony now, I would never have gotten it either.

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Okay, so let's go and sell this hundred-plus square meters.

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So I looked at Reaktor's AI thing.

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The guys had coded it up sort of as a practice project, where the latest sales are pulled from public data and an average is calculated.

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Well, it says that right now the fair price would be 7,148.04 euros.

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So how do I start anchoring then?

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Well, there's a really important rule in anchoring.

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So I'd sum it up like this. Anchor first, anchor credibly, anchor using a reference price, and don't round.

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This has also been studied academically, I talked about this at length with Matti Keloharju, or 'Kelis' as we called him back in our student days, and probably still do.

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And he had a lot of great data on this based on the stock markets.

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Okay, so let's go and sell.

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Hey, here we have just over a hundred square meters, and that makes things easy.

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I looked and the average price would be 7,148 euros per square meter.

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But when we were talking there, you said it's really important to you that your daughter and son get into a good school and daycare,

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well right there you'd have excellent chances of getting into exactly those.

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This is the best school in the area, this school district here.

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And then you'd get into that daycare too.

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And I can actually help you get those applications underway.

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And here now there's been a pretty major pipe renovation done.

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Bought that balcony there and renovated the inside.

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Changed, for example, the layout of the rooms.

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There's no sense in me leaving this place.

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So this could be sold now for 785,000 euros.

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So what did I just do there. I used and shared data that the negotiating counterpart can easily verify just by googling it.

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And then I created these kinds of synergies, which were also tailored specifically to this buyer.

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and then I also signaled that I don't have to make this deal.

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And I threw out that high anchor first, and from there it's much, much easier to go on and negotiate,

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than if you were to sit and wait for the buyer's price offer, which then turns out to be some crazy number,

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minus ten percent or whatever they come up with.

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So that's how this anchoring goes.

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This is one topic I'm going to talk about with Petri Roininen, who is the CEO of Investors House,

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and chairman of the Finnish Growth Entrepreneurs.

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So put your questions to me, hey,

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what would you like me to ask Petri,

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so we can really get this apartment negotiation

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and growth entrepreneurship properly nailed down.

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So thanks by the way for the comments so far.

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Some have asked for a fun jingle,

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meaning music for the start and end there.

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That's in the works, and this is all a bit of a practice run.

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So thanks for watching,

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and if you haven't subscribed yet, hit that subscribe button. Thanks, bye for now!