Learning how to negotiate the right way is one of the most powerful skills a person can learn. Everyone does a lot of negotiating. Whether you are being interviewed for a job, buying a car or applying for a loan, negotiations will always be a part of life. It’s a very important skill that will serve useful in many situations.
The art and skill of negotiating is quite complex as a give and take relationship must exist between two parties. Both parties should win so nobody comes out a loser in a particular deal. A real estate investor for example, who wants to buy a house, can offer to pay the homeowner instant cash for a discounted price. The homeowner is able to liquidate his asset fast while the investor gets himself an inexpensive property that he can either sell again or rent out. Below are some helpful tips when you’re playing the negotiations game.
· When you are about to talk to someone about a particular deal, try to set goals about what you want to happen. Think about what you’re going to say and offer the other party in order to reach the goals that you have set. Plan your meeting well and make your plan work for you.
· Do some research about the person you’re about to meet. What is she like? What are her hobbies and favorite things? The information that you gathered can greatly help you in pleasing the other party and getting what you want. While you’re doing your research, you may even discover what the other party really needs; thus, giving you an advantage.
· Give the person what he wants if you can afford it. This presents you in a positive light and can open windows of opportunities for you. Try not to say no right away and study what the person is asking from you. If you can be able to give what he is asking in exchange for something that you’d want to have, then you might as well give it.
· If you’re the seller or business owner, try to maintain control of the meeting or dialogue. Bear in mind that you are representing your business where money is involved. Be friendly but in control and motivate without being overbearing. You can make an outline of the things that you will be discussing to avoid going off course. Get back on track when the topic deviates into something else.
· Ask the same question in different ways to see if the other person is lying. For example, if you want to know the earning capabilities of the person you’re dealing with, you can first ask a straightforward question on how much he earns. And then during the course of the conversation, ask this question again in many different ways. You can ask him for instance, how much his household budget is or how much he is willing to pay for monthly amortizations. Write down all the information that you’ve gathered and study it later to see if that person is telling the truth.
The negotiating power is most useful in trade and business, but people use it unconsciously on a regular basis. You negotiate when you shop at a flea market. You also negotiate when you are hiring someone to work for you. Thus, knowing how to negotiate gives you an edge and a greater advantage over the others who don’t. While negotiations are a part of life, it’s a plus to have this skill and work things to your advantage.