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Tactic #5 - Concede Small
Summary: Sticking to minor concessions in
the opening rounds of a negotiation.
Here’s a good rule of thumb: If you are going to
concede in the opening rounds of a negotiation, Concede Small.
Example
You are selling your house and your asking price is $250,000. You
receive an offer of $240,000. Instead of countering with $245,000 in the
first round, which is what most people would do, you counter with
$248,000. This small concession is a better starting point for this
negotiation.
Although negotiating this way takes time, conceding in small increments
makes it more likely that you will end up with $245,000. If you
immediately counter the buyer’s offer at $245,000, he will probably
counter with $242,000, and you will end up getting less money for your
house.
Counter
The best counter for the buyer in this scenario is to respond with his
own small concession, for example, a counteroffer of $242,500.
This tactic is one of 101 strategies and tactics
featured in The Only Negotiating Guide You'll Ever Need, by
Peter Stark and Jane Flaherty.
Negotiations in
the business world can be challenging, but sometimes the most
difficult negotiations are the ones closest to home.
Ask the
Negotiator
Dear Peter,
My husband and I don’t have any
children, yet we love to purchase gifts for our nieces and nephews. I
feel strongly that we should set a reasonable limit ($15.00) per child
in order to be fair and to conserve our budget. My husband gets really
carried away and wants to buy expensive toys for everyone. His argument
to me is that he reminds me how much joy these children bring into our
lives and tells me how quickly they grow up and then they won’t be any
fun to buy toys for. How can I negotiate successfully with him?
Regards,
Stubborn Santa
Dear Santa,
Your husband is a good
negotiator. He used one of the oldest tactics in the book, Pulling
On Your Heartstrings. You are going to have to decide how tough
you want to be on this one, and consider a compromise. For example, you
might counter with the tactic of the Trade-Off Concession
and say something like, “OK, I will consider raising the limit of
Christmas gifts for the kids. However, if we do that, we will have to
send them a card on their birthdays and skip the present.” Or, you might
try the tactic of We’ve Never Done That Before and remind
your husband that you’ve always stayed within the limit in the past and
this may set a dangerous precedent. If you get really desperate, you
might suggest that if your husband decides to go this route, he might
find a lump of coal in his stocking!
Happy Holidays,
Peter
Ask the
Negotiator - Are you involved in a
negotiation and not sure what strategies or tactics to use?
Send in your toughest negotiation
challenge and our team of expert negotiators will outline a specific
plan to ensure your success. Please send your negotiation
challenge to patti@pbsconsulting.com.
If your challenge gets published, we'll send you an autographed copy
of The Only Negotiating Guide You'll Ever Need, by Peter
Stark and Jane Flaherty ($14.95 retail)
WOW!!
To view this month's issue of The Master
Negotiator, the premiere on-line newsletter for negotiators,
follow this link:
The Master Negotiator, Volume 2, Number
10 Trustworthy Negotiations
To view previous Negotiating Tactics of the Week,
follow this link:
Negotiating Tactics of the Week
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