Have you noticed that everyone thinks they are a master of negotiation. In reality most of us are not, however when negotiating there are some principles that can help.
The main reason either party comes out on top of a negotiation is that they exploit the others weakness, sounds like Gordon Gekko talking, I know, but that is the plain truth.
The main way of discovering weakness in who you are negotiating with is research ie. having a full understanding their circumstances and position.
Using a property purchase as an example - log on to http://www.upmystreet.com/ and check out the last transaction for a house near the one you want. How long has it been on the market? Why is the vendor is moving? What do they do for a living? Are they in a chain and what is their timescale for moving if they are. Not going into a negotiation with adequate research is a surefire way of coming out bottom!
If you really dig and dig, a crack in their armour usually appears, hopefully not as big as the one they have exposed in yours.
The most important thing of all is integrity, if you make a deal stick to it. I am a firm believer that you treat people the way you would like to be treated yourself. Have that philosophy and you can´t go far wrong!
Tuesday, February 3, 2009
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