Negotiation skills

[IMHO]

Blurock, it seems you did not get the 'worse case' scenario, that I specified when saying both parties walk away. Worst case means that is the worst that can happen. Of coarse win, win is what is strived for. But very seldom 100% achieved.

Take the car negotiation as example. The negotiator for the seller has a brief that R8000 is expected. The negotiator for the buyer has a budget of R100 000 and he can stretch it a little bit if necessary. What is win, win and how will it ever be achieved? Remember, the one is not aware of what the others brief is. Even the if the seller opens with a ridiculous offer of R20 000. The buyer is just going to say thank you very much and walk away with the deal of a lifetime. A week later the seller finds out the real worth of the car and feel cheated. So, is this win, win?

I am not a negotiator and do not want to defend the morals of any strategy. I just shared what I was taught a very long time ago. I can not even remember the other tricks of the trade. Maybe someone can come refresh us on the latest methods, so we at least stand a chance to get close to win, win.

This thread is the ideal place to do so!

[Blurock]

Negotiation is often about compromise. Its like going on your first date and expecting a kiss, but having to settle for holding hands. There is however the prospect of a kiss on the next date.

My experience is that the best prepared and best informed are more likely to come out tops in negotiations.

In your example the seller does what is expected of sellers; he makes a ridiculous offer of R20,000. The buyer is prepared to pay the asking price and is happy with the deal. The seller has not done any research or tested the market. He therefore thinks that the buyer is mad to accept the deal and is happy to sell.

Although there was no negotiation, both parties were happy with the deal. The seller received more than double what he aimed for and the buyer got the deal of a lifetime. So a win - win situation was achieved. Any regrets by the seller is due to his own incompetency and can not be blamed on the buyer.

[IMHO]

Any regrets by the seller is due to his own incompetency and can not be blamed on the buyer.

Correct, no argument there. One should always do your homework and know your field. That is of cardinal importance.

But now one also need to hone your skills, to limit your losses in a case where you simply could not have known. That is why 'get the other guy to make an offer first' is so handy. It is of no use against a pro or someone better prepared than you, but at least a beginning. Use it if you can. But be warned, the guy better prepared than you, will be able to use it against you.

Do we have negotiation experts reading here? Care to give us a few pointers? Trade secrets, I suppose...

Other things that I have learned over the years, is to know a good deal when you see one. With that I mean, do not try to wring blood from a stone. Know when to stop.

Body language is also a great skill in negotiations. A professional negotiator will read you like a book and know if you try to roll the wool over his eyes. That is a completely different field, but goes very much hand in hand with negotiating.

[Blurock]

Body language is also a great skill in negotiations. A professional negotiator will read you like a book and know if you try to roll the wool over his eyes. That is a completely different field, but goes very much hand in hand with negotiating.

Very true. Negotiation is also about interpersonal skills. Its a proven fact that "mirror actions" and positive vocal affirmation would make it easier to clinch a deal.