Successful negotiators do two key things, according to Mark Cuban.

The best negotiators Mark Cuban has worked with or against share a common trait: their ability to compromise.

According to billionaire entrepreneur and investor Mark Cuban, expert dealmakers are patient and don't try to win every deal point. Instead, they are willing to give something in order to get the deal done.

In an interview with former FBI hostage negotiator Chris Voss last year, Cuban revealed that he uses patient silence as a strategy on ABC's "Shark Tank" to obtain information before making investment offers.

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I may not be interested in a deal when someone walks into 'Shark Tank,' or I may not have all the necessary information to make a decision. However, when I listen to the other Sharks, they will inform me about any financial competition and potentially teach me about the industry and the person.

Cuban's approach relies on active listening, he emphasized: "The more you focus and remain attentive, the greater your chances of achieving your goals ... Listening is a form of currency."

How Cuban's negotiating strategy works

In a February episode of "Shark Tank," Cuban initially declined to invest in Ramon van Meer's cat litter company, Genius Litter, despite a bidding war between investors Lori Greiner, Robert Herjavec, and Kevin O'Leary.

"I'm so tired of this, I'll do $250,000 for 8%. But you've got to say yes right now," Cuban said.

She responded, "He should not be able to come in and scoop it." Greiner seemed to sense the tactic.

Van Meer was offered $250,000 by Cuban, Greiner, and Herjavec in exchange for 16% of the company, which was double the equity initially proposed by van Meer.

While most negotiators are not flawless, even Cuban has been known to deviate from his typical approach and enthusiastically accept deals without hesitation. In 2000, as a newly minted billionaire, he quickly bought the NBA's Dallas Mavericks without any negotiation, immediately agreeing to the initial asking price presented by the team's previous majority owner, real estate developer Ross Perot Jr.

"According to Cuban, his experience with the NBA was all about fun. He described it as a dream come true and said that he didn't even negotiate, he was just happy to be a part of it."

CNBC has the exclusive rights to air "Shark Tank" off-network.

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