Low Ball Offers
Tough economic times seem to bring out the bargain hunters and those who 'low ball'. They seem to be emboldened by the hardships being experienced by others. There's no doubt that in times like this people tend to agree to terms below what they'd ordinarily expect. The question is, however, what should our reaction be when we are on the receiving end of a low ball offer.
Low Ball Offers
Now desperation on our part might make even a low ball offer attractive but that's rarely the case. Oh, you'd welcome a deal, but not if the terms you're presented with are borderline ridiculous. Let's suppose you're selling something and suggest a price and terms that are really close to current value and the market. Your opponent, however, chimes in with that disgusting low ball offer.
Consider these options or a combination of them.
1. Counter by restating your original price or position. Or counter at just one dollar toward your opponent's low ball offer.
That signals you're willing to make a concession but not until a serious proposal is received.
2. Counter by not giving any verbal response at all. Silence, with a slow frown and head shake, is so powerful and unexpected.
Don't say a word. It takes courage and nerve to pull off, but it tends to unhinge an opponent. They quickly realize they've probably gone past the bargaining in good faith position.
Remember, the first one to speak, is the loser.
3. Withdraw your original proposal and replace it by asking for more. In other words, counter their ridiculous offer with a ridiculous one of your own. If they complain that you're backing away from what was said earlier, reply by sharing that in light of their offer it is warranted.
4. Ask a question, such as "What possible benefit would there be for me to consider, let alone, accept such an offer?" Such a question puts the focus on everyone's need to achieve a win-win agreement.
5. Lastly, isn't this a perfect time for a 'crunch' technique, such as, "Is that the best you can do?"
Low ball offers are always a possibility. Good negotiators know 'when to say when' and know that no agreement should leave them worse off than when they started.
Plan your strategy, in advance in case you encounter that low ball offer as you KEEP Negotiating.
Negotiating Tip 101: When It Sounds Too Good
March 16, 2019
Negotiating Tip 104: Timing For A Discount
March 19, 2019
Negotiating Tip 103: Walk Away Technique
March 18, 2019