Chris Croft
Tips of the Month – Archive

Negotiation Skills Tip 15



Be nice

Decide to do it

Instead of yes or no

The most important thing to prepare

How to practice without risk

Never go beyond your walk away point

Don’t open first

Instead of complaining

The Flinch

Is it OK to lie?

Why you need a good pack of tradeables

Negotiating internally

Reasons for not negotiating are all false

Walking away – really mean it!

Planning your opening offer

This month's negotiating tip - How wide should your opening offer be?

Clearly if it's too wide they will laugh at you (oh no!) and perhaps walk away from the deal completely (though in most cases you can reel them back in) and perhaps will discredit you for future negotiations.

Clearly if it's not ambitious enough you're giving away money.

Well, a (very) rough rule of thumb is to think about what you expect to get (this will be lower than their offer if you are buying and higher than their offer if you are selling), then think about what you might get if everything was in their favour (take a moment to have a mini-fantasy about them being desperate to sell, there being things wrong with it etc) and then YOU HAVE TO GO SLIGHTLY BEYOND THIS POINT. Otherwise how will you ever get the best deal, on the occasions that it is there to be got?

Of course in most cases the best situation won't in fact be the case, and you have to then backtrack (using those tradeables that you have pre-prepared I hope! - but at the very least just by crumbling). But you never know, so you should always try.

Go on, practice on something big this weekend!

Onwards and upwards!

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