Latest Articles
Industry, Education
February 13, 2019
Negotiating Tip: The Fall Back Plan
The three keys to successful negotiating are preparation, preparation and preparation.
Prepare to Prepare
Those that tinker and struggle at negotiations tend to take stabs at getting a good deal without building a strategy up front. Good negotiators prepare in advance and have a 'fall back plan' that often provides that win-win result that others never enjoy.
Don't get to a spot in negotiating where you just have to take a deal. Unrealistic expectations are the downfall of too many when bargaining. Realistic negotiators prepare in advance for the likelihood that their first (aspired) proposal won't be accepted. They have established a scaled back position (that is acceptable) which is more likely to meet with their opponent's approval.
But great negotiators go one step further, they know their limit, their downside position or as some know it - the 'walk away' position. If they get to this spot, where they have to make too many or too large a concession, they have pre-planned an exit strategy. If you're frustrated by the limited results you are achieving in your negotiations, prepare more in advance. Establish three positions.
Good negotiators anticipate and prepare three positions that add confidence and power to their bargaining.
KEEP Negotiating.
Prepare to Prepare
Those that tinker and struggle at negotiations tend to take stabs at getting a good deal without building a strategy up front. Good negotiators prepare in advance and have a 'fall back plan' that often provides that win-win result that others never enjoy.
Don't get to a spot in negotiating where you just have to take a deal. Unrealistic expectations are the downfall of too many when bargaining. Realistic negotiators prepare in advance for the likelihood that their first (aspired) proposal won't be accepted. They have established a scaled back position (that is acceptable) which is more likely to meet with their opponent's approval.
But great negotiators go one step further, they know their limit, their downside position or as some know it - the 'walk away' position. If they get to this spot, where they have to make too many or too large a concession, they have pre-planned an exit strategy. If you're frustrated by the limited results you are achieving in your negotiations, prepare more in advance. Establish three positions.
- Establish what you would really, really want (best case), the Aspired Position.
- But have ready something more realistic (from our opponent's point of view) that would be our Acceptable Position.
- And last, but not least, establish your breakpoint, that Walk Away Position, that would prompt your breaking off the negotiations.
Good negotiators anticipate and prepare three positions that add confidence and power to their bargaining.
KEEP Negotiating.
Share this post:
Written by
John Hamilton
Recent Posts
Next Videos
Related Post
Industry, Education
Negotiating Tip 114: Retreat Negotiations
March 29, 2019
Industry, Education
Negotiating Tip 113: Activating Our Opponent
March 28, 2019
Industry, Education
Negotiating Tip 112: Misconceptions
March 27, 2019
https://www.realtown.com/blog/9-Good-Reasons-for-Buyers-to-Hire-a-Real-Estate-Professional-Published
https://www.realtown.com/blog/Dont-Waste-Your-Money-on-a-Website-Without-a Broader-Vision-Publishing
https://www.realtown.com/blog/Greater-El Paso-Association-of-REALTORS-with-RealTown-at-Inman-Connect
https://www.realtown.com/blog/online-marketing-thousands-of-agents-sell-homes-online-and-you-can-too
https://www.realtown.com/blog/smart-realtors-will-factor-in-the-advantage-of-short-driving-distances
https://www.realtown.com/blog/point-announces-eleven-new-listing-syndication-program-implementations
https://www.realtown.com/blog/redx-for-sale-by-owner-lead-generation-service-now-available-in-canada
https://www.realtown.com/blog/staying-connected-with-buyers-and-sellers-after-the-contract-is-signed
https://www.realtown.com/blog/how-to-get-more-foreclosure-cleanup-business-via-free-chamber-meetings
https://www.realtown.com/blog/real-estate-marketing-strategies-can-create-your-own-success-blueprint
https://www.realtown.com/blog/westport-real-estate-a-passion-for-the-positive-in-this-negative-state
https://www.realtown.com/blog/r-e-marketing-strategies-are-you-making-these-deadly-business-mistakes
https://www.realtown.com/blog/how-to-use-solo-marketing-emails-to-generate-high-quality-online-leads
https://www.realtown.com/blog/the-international-brand-lays-foundation-on-cheap-timberland-work-boots
https://www.realtown.com/blog/r-e-marketing-strategies-things-you-need-to-know-to-double-your-income
https://www.realtown.com/blog/why-online-consumers-don-t-respond-to-you-and-what-you-can-do-about-it
https://www.realtown.com/blog/is-buying-the-worst-house-on-the-best-street-really-the-right-approach
https://www.realtown.com/blog/housing-forecast-changed-slightly-due-to-impact-from-tighter-lending--
https://www.realtown.com/blog/corcoran-consulting-announces-jetspring-as-a-premiere-service-provider
https://www.realtown.com/blog/r-e-marketing-strategies-simple-tips-for-creating-your-ideal-income-in
https://www.realtown.com/blog/one-third-of-americans-who-sold-their-home-in-the-past-year-lost-money
https://www.realtown.com/blog/federal-way-finds-new-owners-for-bank-and-government-foreclosure-homes
https://www.realtown.com/blog/crye-leike-chooses-fidelity-national-s-transaction-management-solution
https://www.realtown.com/blog/r-e-marketing-strategies-tips-to-double-your-income-within-your-sphere
© 2019 - Real Town The Real Estate Network - All rights Reserved
Powered by
2019 Real Town The Real Estate Network