Become A Master Negotiator

Summary: Using a restrictive question to get a direct answer or specific bit of information from a counterpart.

Anytime you are trying to win a concession or gain a deal point in a negotiation, Asking a Closed-Ended Question is a good idea. Closed-ended questions are effective because they are direct and to the point. In contrast, they are not good questions to ask when you are striving to build a relationship or stimulate discussion.

Example

An employee in charge of office supplies asks a saleswoman, “If I can obtain budget approval to purchase two SMART Boards, which would normally incur a combined cost of $4,000, can you get the price with tax under $3,750?”

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Summary: Citing the opinion of an authority to gain clout.

One of the more powerful tactics to utilize when presenting information in a negotiation is to cite the opinion of an expert.

Example

A man is selling his automobile for $12,000. A woman tells him that she will buy the car for $11,500 if she can take it to her mechanic to make sure there are no major problems needing repair. The prospective buyer takes the car to her mechanic who prepares a computerized printout outlining $1,500 worth of repairs. The buyer returns to the seller with the computerized report of needed repairs and a revised offer to purchase the car for $10,000.

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Summary: Pushing a counterpart to provide his best offer by implying that the offer “on the table” is unsatisfactory.

A great way to practice your negotiation skills is to simply get in the habit of asking salespeople, “Is That your Best Offer?” You would be amazed how many times they will lower their price or throw in an extra benefit in response to this simple question.

Example

A buyer is purchasing a new laptop and asks the salesperson, “Is $499 your best price?” The computer salesperson replies, “This laptop is going on sale for $450 in a week. Let me see if I can get my manager to approve the sale price for you today.” Simply by asking, the buyer saves forty-nine dollars.

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