- Choose your moment
Make sure neither you or the other party are short of time, distracted or stressed. Highlight the benefits to the other party of reaching an agreement, let them know you are keen to do business.
- Promote your advantages
… to prevent it all coming down to price! Highlight your unique points/ clear differentiators versus your competitors, if you are buying a house this may be that you are a first time buyer or have an offer agreed on the house you are selling. It will help to try and view the deal from the other party’s perspective.
- Fix deal variables
If there are variables make sure you are clear on what you are buying/selling. If you are buying a house is any offer you will make inclusive of white goods?
- Judge negotiating zones
- Offer first and anchor!
Aim to offer first, in the surprise zone and anchor (state why your offer is reasonable – does the house need new windows?); its sensible to promote your advantages again as part of this.
- Feel free to walk away
Always consider your BATNA (Best Alternative To a Negotiated Agreement).