Negotiation

E1 EXT. JERUSALEM MARKETPLACE – DAY

Brian rushes up to a street vendor, slightly panicked.

BRIAN
How much? Quick!

VENDOR
What?

BRIAN
It's for the wife.

VENDOR
Oh, ehm... twenty shekels.

BRIAN
Right.

Brian hands him the money.

VENDOR
What?

BRIAN
There you are.

VENDOR
Wait a minute!

BRIAN
What?

VENDOR
We're... we're supposed to haggle!

BRIAN
No, no, no, I've got to get—

VENDOR
What do you mean, “No, no, no”?

BRIAN
I haven't got time, I've got—

VENDOR
Well, give it back then.

BRIAN
No, no, no, I just paid you!

The Vendor shouts to a nearby man.

VENDOR
Burt!

BURT (O.S.)
Yeah?

VENDOR
This bloke won't haggle!

BURT (O.S.)
Won't haggle?!

BRIAN
All right, do we have to?

VENDOR
Now look: I want twenty for that.

BRIAN
Ehm… I just gave you twenty.

VENDOR
Now are you telling me that's not worth twenty shekels?

BRIAN
No.

VENDOR
Look at it! Feel the quality — that's not goat!

BRIAN
All right, I'll give you nineteen then.

VENDOR
No, no, no! Come on, do it properly!

BRIAN
What?

VENDOR
Haggle properly! This isn't worth nineteen!

BRIAN
Well, you just said it was worth twenty!

VENDOR
Oh dear, oh dear. Come on — haggle!

BRIAN
Uhh, all right... I'll give you ten.

VENDOR
That's more like it! Ten!? Are you trying to insult me? Me, with a poor dying grandmother?

BRIAN
All right, I'll give you eleven!

VENDOR
Now you're getting it. Eleven!? Did I hear you right? Eleven? This cost me twelve! You want to ruin me?

BRIAN
Seventeen?

VENDOR
No, no, no, no, seventeen?!

BRIAN
Eighteen?

VENDOR
No, no, no — you’ve got to fourteen now.

BRIAN
All right, I'll give you fourteen.

VENDOR
Fourteen!? Are you joking?

BRIAN
That's what you told me to say!

VENDOR
Oh, dear...

BRIAN
Tell me what to say, please!

VENDOR
Offer me fourteen.

BRIAN
I'll give you fourteen.

VENDOR
He's offering me fourteen for this!

BRIAN
Fifteen!

VENDOR
Seventeen. My last word. I won’t take a penny less — or strike me dead.

BRIAN
Sixteen!

VENDOR
Done! Nice to do business with you.

BRIAN
Mhm.

VENDOR
Tell you what — I’ll throw this in as well.

BRIAN
I don’t want it, but thanks.

VENDOR
Burt!

BURT (O.S.)
Yeah?

BRIAN
All right, all right, all right.

VENDOR
Now, where’s the sixteen you owe me?

BRIAN
I just gave you twenty.

VENDOR
Oh yeah, that’s right. That’s four I-owe-you, then.

BRIAN
No, that’s all right, that’s fine, that’s fine.

VENDOR
No, hang on — I’ve got it here somewhere.

BRIAN
No, it’s all right — that’s four for the gourd.

VENDOR
Four?! For this gourd?! Four!? Look at it! It’s worth ten if it’s worth a shekel!

BRIAN
You just gave it to me for nothing!

VENDOR
Yes, but it’s worth ten.

BRIAN
All right, all right!

VENDOR
No, no, no — it’s not worth ten, you’re supposed to argue!
“Ten for that? You must be mad!”
Oh well... one born every minute.

Beginning negotiations
I’m excited for the opportunity to work together...
Before we begin, why don’t we nail down the main points of the agenda?
Let’s start by going over our goals for this meeting...

Establishing terms
What I’m looking for is…
My primary concern is…
What are your particular aims and objectives?
We'd like to hear your suggestions/ideas...

Making a proposal
How about we do the following:…
I’d like to propose that…
I think the best course of action is to…
Why don't we...?
What do you think about...?

Rejecting a proposal
I’m afraid that’s not a feasible option for me...
With all due respect, I must decline your offer...
Unfortunately, that’s not going to work for me...

Negotiating terms
Is your offer at all flexible?
Let’s consider some alternatives. How about…?
Would you instead consider…?

Arguing your point
According to my research,… Therefore,…
I am basing this on the fact that…
One of the most important reasons for this is…

Agreeing
That makes complete sense.
I agree with you on that point.
That sounds very reasonable to me.

Disagreeing
I have to disagree with you there.
That’s not exactly how I see it.
I understand where you’re coming from, but…

Compromising
I can accept that if you could…
I could offer you… if you would agree to…
In exchange for… would you be willing to…?
We might be able to...
Could we combine our idea with yours...?

Clarifying
I just want to be sure I’ve got this straight. Do you mean…?
Let me make sure I understand correctly. Are you saying…?
I don’t feel like I understand your position clearly. Would you mind explaining it again?
Just to recap...
Just to make sure we're on the same page....

Making suggestions
I’d like to make a suggestion.
I think the best approach is to…
Perhaps a good idea would be to…

Closing the deal
I believe we’ve covered everything. Are there any other loose ends we need to tie up?
Let’s summarize our discussion to see if we’re on the same page.
This is where we currently stand:…

"Lead by listening – to be a good leader you have to be a great listener." – Richard Branson

In today’s world of endless meetings, offers, and business deals, one skill remains more valuable than ever: the ability to truly listen. Listening is not just hearing words. It’s understanding meaning, emotions, and intentions.

Too often, people think they are listening, but they are only preparing their counteroffer or final offer in their head. They hear the price but miss the objectives. They smile politely, but fail to build common ground.

Real listening, however, is like a win–win settlement. It can build trust, iron out disputes, and even strike a deal between people who disagree.

"Leaders who don't listen will eventually be surrounded by people who have nothing to say." – Andy Stanley

The Five Levels of Listening

Stephen Covey explained that listening happens at different levels:

1. Ignoring – Not listening at all.
2. Pretending – Acting like you listen (nodding during small talk).
3. Selective Listening – Hearing only the parts you like, such as a discount or profit.
4. Attentive Listening – Paying attention to words but not catching the bigger picture.
5. Empathic Listening – Listening to understand the other person’s perspective, emotions, and expectations.

Great leaders hold out for Level 5. The Chinese symbol for “listening” includes the ears, eyes, heart, and mind. It means using your whole self, not just your ears.

"One of the most sincere forms of respect is actually listening to what another has to say." – Bryant McGill

A Story: How Listening Prevented War

In 1962, the Cuban Missile Crisis brought the U.S. and the Soviet Union close to war. President John F. Kennedy received two messages (or proposals) from Soviet leader Nikita Khrushchev.

• The first was softer, offering peace if the U.S. gave a clear agreement not to invade Cuba.
• The second was harder, almost an ultimatum, demanding the removal of U.S. missiles from Turkey.

Most advisors said, “Play hardball. Respond to the second letter.” But Kennedy decided to listen more deeply. He believed the first message was Khrushchev’s real offer – a proposal to meet halfway. So, he publicly answered that one and privately agreed later to remove the missiles.

By choosing carefully which message to respond to, Kennedy reached an agreement and saved the world from a terrible loss.

"Build your opponent a golden bridge to retreat across." – Sun Tzu

Another Story: The Man Who Questioned the Alarm

In 1983, Soviet officer Stanislav Petrov was monitoring for a possible U.S. missile strike. Suddenly, the system showed several missiles on the table. According to the terms of his role, he should have reported immediately, leading to a counter proposal of nuclear attack.

But Petrov paused. He thought: Does this add up? Why would the U.S. send only a handful of missiles instead of hundreds?

Instead of giving in to the pressure, he decided it was a false alarm. He refused to back down from his intuition. Hours later, it was confirmed: the warning system had malfunctioned. His decision prevented a war.

Petrov’s negotiating skills were not about driving a hard bargain, but about listening – to logic, to context, and to conscience.

How to Show You’re Really Listening

• Just to recap, reflect what you heard and check if you understood correctly.
• Acknowledge emotions, not just the deal or terms.
• Pause before responding – don’t rush to put forward your opinion.
• Follow up later to show you valued their input.
• Act in line with the agreement in principle you reached.

Reflection for Leaders

• Are you only listening to the proposal, or also to the expectations behind it?
• Do you try to iron out disagreements, or do you break off too quickly?
• Are you helping your team meet halfway, or do you play hardball when compromise is possible?
• Do you use your listening to lay out a clear path toward a partnership?

Empathic listening is like the best long-term contract: it builds trust, reduces the risk of dispute, and creates a culture where people feel their voice matters.

So next time you negotiate, remember: listening is not a penalty or a concession. It’s the key leverage that helps you reach an agreement, work out better solutions, and close the deal.

Have you ever felt truly heard – or ignored? How did it affect the outcome?

E120 INT. SCOUTS ROOM

Billy comes in sticking some tobacco under his lip and,
like a shark that knows it could die if it stops moving,
doesn't through the entire scene --

BILLY
Suzanne, get Shapiro on the phone.

PETER
Are you thinking Rincon?

BILLY
Yeah, he's lost faith for the season. I
think he's gonna dump him.

PETER
Hardcore.

They wait as Suzanne dials the Indians' GM, staring at
the speakerphone that sits like a little island in the
middle of the conference table.

SUZANNE
Shapiro on two.

BILLY
Mark. Billy. Let's be honest. A
premiere setup man is not going to get
you any closer to the playoffs.

SHAPIRO V/O
Are you referring to Rincon?

BILLY
He's a luxury you can't afford.

SHAPIRO V/O
And you can? There's half a million on
his contract and at least one other
suitor.

BILLY
By at least one, you mean one? Who is
it?

SHAPIRO V/O
I'd rather not say.

PETER
(WHISPERS)
San Francisco.

BILLY
I'll call you back.

(He hangs up. Stares down Peter)

PETER
What do you think we can get for
Magnante?

BILLY
Nothing.
(continues to stare)

DOWN PETER)
What's left on Venafro's contract?

PETER
Two-seventy-five.

BILLY
Suzanne -- get me Sabean.

(THEN)
If we can get San Francisco interested in
Venafro, Shapiro's only got one buyer for
Rincon.

PETER
Us.

Pete gets busy on his computer.

SUZANNE
On three.

BILLY
Sabes. Billy. You like Venafro. I can
let you have him for almost nothing.

SABEAN V/O
(smelling a rat)
Why would you do that, Billy?

BILLY
Because I'm amazing.

SABEAN V/O
Uh-huh.

BILLY
All I want is a couple of bucks and a
sweetener. Throw in, say...

(Billy snaps his fingers at Peter --)

PETER
Anderson.

BILLY
Anderson.

SABEAN V/O
I like Anderson.

BILLY
No, you don't. I don't even like him. I
don't know why I'm doing this -- but let's
do it anyway. Venafro for Michaelson?

PETER
Anderson.

BILLY
Anderson. See, I don't even know his
name.

SABEAN V/O
I'll think (about) --

BILLY
Think about it and call me back.

He hangs up.

BILLY
Get Shapiro back on.

(Billy and Pete stare at each other in silence)

SUZANNE
Two!

BILLY

MARK --

SHAPIRO V/O
You can't afford him, Billy.

BILLY
You sure about that? I get the
impression the market for Rincon is
softening. I could be wrong. Call
whoever's interested and make sure
they're still interested. And call me
back.

He hangs up.


BILLY
What about the Mets for Venafro?

PETER
You just offered him to the Giants.

BILLY
Suzanne -- Steve Phillips! Get me Steve
Phillips.

(Pete works his computer)

BILLY
Between Bonds, Nen, Kent and Snow,
they're never gonna do it.

PETER
Totally agree.

BILLY
We just need them to cool on Rincon.

SUZANNE
Phillips on two.

BILLY
Steve-O. Billy. I hear you're looking
for a left-handed reliever. What do you
think of Venafro? I can make it quick
and easy for you.

PHILLIPS V/O
What's the angle?

BILLY
No angle.

PHILLIPS V/O
Who am I getting fleeced for?

BILLY
Hang on a second.

(He puts him on hold. Peter is already scrolling through
the Mets' farm system, his eyes darting around the stats.)

PETER
Bennett maybe?

BILLY
How old?

PETER
Twenty-six.


BILLY
Twenty-six and in Double-A? Forget it.

PETER
Duncan? No. Cerda? No. Furbush?

BILLY
Furbush?

(BEAT)
No.

PETER
Eckerton? Eckerton. Eckerton, that's
the guy.
Billy punches the phone off hold.

BILLY
Eckerton.

PHILLIPS V/O
Eckerton? I like Eckerton.

BILLY
You don't even know who Eckerton is.
The phone on Pete's desk rings. Peter answers a second
blinking line.

PETER
Hello?

PHILLIPS V/O
Is Venafro hurt?

PETER
Oh, hi.

BILLY
No, he's not hurt. He's fine. This is
just a situation for us.

PETER
It's Steve.

PHILLIPS V/O
Last couple of times out, he got
hammered.

BILLY

(MUTE)
I'm on with Steve.

(UNMUTE)
Not his fault. We misused him.

PETER
Steve Schott.

BILLY
Tell him to hold.
(to Steve Phillips)
Look. Steve. Here's the deal. I'm
being straight with you. I'm getting
Rincon. It's a done deal. It's done.

PHILLIPS V/O
I heard the Giants --

BILLY
No, the Giants want Venafro. And I told
them they can have him for Michaelson...

PETER

ANDERSON --

BILLY
-- but I'd rather deal with you. Because
you can give me Eckerton and two hundred
and twenty-five thousand cash and the
Giants can't.
Billy's look to Peter says, Doesn't hurt to ask. As they
listen to silence on Phillips' side of the call --

PETER
Yes, I understand it's impolite to keep
you holding.

PHILLIPS V/O
I'll think about it.

BILLY
Of course. Think. But whoever calls me
back first gets Venafro.
(He hangs up. Looks for the blinking light that belongs

BILLY
Why isn't anybody calling?
The phone rings.

SUZANNE
Shapiro's on two.

(Billy picks up. Listens. Fist pump)

BILLY
Great. Lemme talk to my owner. Call you
right back.

(THEN)
Get Steve.

PETER
Phillips or Schott?

BILLY
Why would I call Phillips back? Schott.
Tell him I'm on the other line.

PETER
Right.

(Peter dials. Billy can't sit)

PETER
Mr. Schott, it's Peter Brand. Sorry I
left you on hold. Billy asked me to call
you back. He's on another line.

BILLY
Tell him we need two hundred and twenty-
five grand for Rincon.

PETER
Billy says he needs two hundred and
twenty-five thousand dollars for Ricardo
Rincon. Please?

(THEN)
Yes, I added the please.
(listens; to Billy)
No.
Billy thinks intensely. Finally --

BILLY
Tell him I'll pay it, but when I sell him
next year for twice that, I keep the
money.

PETER
Billy says he'll pay for Rincon himself,
sell him next year, and keep the profit.

(Peter listens to whatever Steve Schott is saying, then --)

PETER
Okay. Thank you.

(HANGS UP)
He says he'll pay for Rincon.
High five.



(CALLING OUT)
Suzanne call Shapiro back!
(-- as he grabs his cell phone and hits speed dial)

BILLY
Wait, never mind!
(beat, then into

PHONE)
Mark. Yeah, it's Billy. Here's the
deal. I don't want Rincon pitching
against me tonight. Tell him to change
his clothes. I got you the money and I
accept your gratitude. It's done.
He hangs up. Fist bump.

Peter
I don't want to damped the mood at all!
But since we picked up Rincon...

Billy
We gotta send someone down.

MICHAEL BURRY
I want to buy swaps on mortgage bonds. A credit default swap that pays off if the underlying bond fails.

SALES REP
You want to bet against the housing market?

MICHAEL BURRY
Yes.

DEEB WINSTON
Why? These bonds only fail if millions of Americans don’t pay their mortgages. That’s never happened in history.
If you’ll excuse me Dr. Burry, it seems like a foolish investment.

MICHAEL BURRY
Based on prevailing sentiment of the market, the big banks and popular culture, yes, it’s a foolish investment.
But everyone’s wrong.

There’s a beat and then everyone laughs — except Michael Burry who wasn’t kidding.

SALES REP
This is Wall Street, Dr. Burry. If you offer us free money, we are going to take it.

MICHAEL BURRY
My one concern is that when the bonds fail I want to be certain of payment in case of solvency issues with your bank.

They are shocked.

SALES REP
I’m sorry. Are you for real? You want to be against the housing market, the most reliable sector of the American economy — and you’re worried we won’t pay you?

MICHAEL BURRY
Yes. That’s correct.

The Goldman people whisper amongst themselves for a beat.

DEEB WINSTON
We could work out a pay-as-you-go structure that would pay out if the bond’s value falls.
But it would also apply to your payments if the value of the mortgage bond goes up.
You’d have to pay us monthly premiums.

SALES REP
Is that acceptable, Dr. Burry?

Mike starts pulling thick documents out of his backpack. He slides them across the table.

MICHAEL BURRY
Yes it is. Here are prospectuses on six mortgage-backed securities I want to short.

They scan them. They’re diligent, they make us wait.

DEEB WINSTON
These should be fine.

SALES REP
We are prepared to sell you five million in credit default swaps on these mortgage bonds.

MICHAEL BURRY
Can we do 100 million?

EXT. GOLDMAN SACHS HALLWAY – MOMENTS LATER
Michael Burry leaves the conference room. As he closes the door, he hears the sales reps and the numbers guy laughing and clapping.
He hesitates — is he hurt? But then pushes on.

MUSIC: Popular hip-hop track, like Gold Digger by Kanye West.

MICHAEL BURRY (V.O.)
Is there any way to buy 200 million?

INT. DEUTSCHE BANK – THE NEXT DAY
Michael is now across from sales reps from Deutsche Bank.

DEUTSCHE SALES REP
I, uh, I don’t see why not. But are you sure?

DEUTSCHE SALES REP #2
(waves off his colleague)
Absolutely. Absolutely we can do that.

MICHAEL BURRY
That would be great. Here are the bonds I would like to bet against.