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by David B. Zwiefelhofer
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4) Both sides must gain something.
You don't want a disgruntled party on the other side of the table causing you grief. Each party should feel that they've gained substantial benefit from the negotiation.
Fundamental Skills of Negotiation
1. Preparation.
There is no substitute for knowledge. Exercise diligence in your research and you'll have an accurate assessment of the subject property's value. This is the most important piece of information in negotiating a deal.
2. Know your bottom line.
Knowing what you want will make it much easier for you to bargain. If you're not quite sure what your house is worth (or how much you can afford to spend, if you're buying) you won't be a confident negotiator. You won't be able to commit to a great deal when you see one, because you won't be able to recognize it. Furthermore, your lack of knowledge will be evident to the other side and will further undermine your negotiating position.
3. Be detached.
The quickest way to lose control of a negotiation is to become too emotionally involved. Obviously, buying and selling something as expensive as a house is an emotionally loaded experience, but cultivating a detached manner will help convince your opponent that you are a competent negotiator who is comfortable with his/her position. Being too emotional will always be interpreted as desperation and that gives the upper hand to your adversary.
4. Hear the other side.
If you can manage to be detached you'll then have the opportunity to listen to and observe your opponent. You'll be able to tell if the other side is too nervous, if they're bluffing or if they're willing to compromise. |
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