From the course: When Negotiation's about More than Money: How to Negotiate (Almost) Anything
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Don't get tempted in
From the course: When Negotiation's about More than Money: How to Negotiate (Almost) Anything
Don't get tempted in
- Now we come to the all-important opening offer, which as a buyer is going to be low. But the thing I want to say about opening is definitely don't be the first one to open. You absolutely mustn't just go in and say, "I want it cheaper. "I can only afford X." And what's the only thing worse than making an opening offer first? And that's revealing your limit. So let's suppose that the most you'll pay is 30, and that might be 30 pounds, it might be 30,000 pounds, I don't know. Suppose the most you'll pay is 30. And suppose the seller is asking for 40. You could go in and go, "Well, I'm not paying more than 30. "That's all I've got, you know," but you've now given away your limit. And you're going to end up paying 30, which is, in a way, your worst outcome. You've given away your whole budget. So a bit better than that would be to go in and say, "I can only afford 20," and then reluctantly work your way up to 25 or…
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Contents
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The classic negotiation situation24s
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Expected and essential quotes4m 6s
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Seven opportunities to negotiate3m 26s
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Your ultimate source of power2m 35s
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Prepare to trade3m 24s
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Prepare for a seller's weaknesses5m 3s
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Don't get tempted in4m 38s
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The vice strategy3m 29s
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Your counteroffer2m 25s
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Move without losing2m 51s
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Keep everything secret5m 35s
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Close the deal4m 42s
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Detachment and practice57s
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