When you want to clinch a deal negotiation is the tricky next steps to ensure that you get the deal that you want. Negotiating could involve paying a good price that you want to pay, adding extra value for money and ultimately a win-win situation. Negotiation is like a game of cards. You never quite know what hand your negotiation opponent will be playing and what the end-game result will be. Here are some tips to help when it comes to playing the negotiation card game.
1. Show a Poker Face
The number one rule is not to let your emotions get the better of you and do not let your emotions show. The minute you start to get emotional, the opponent you are negotiating with will see this and act upon it and turn it in their favour. Even if you will do anything and pay anything to get what you want don’t let your opponent know what you are thinking and feeling and don’t give anything away. Stay cool and calm and play your best poker face so that the person you are negotiating with can’t read you, your next move and what your ultimate goal is.
2. Play Your Cards Close
Always play your cards close to your chest and don’t let your opponent know what cards you are playing with. If you want to go higher, start at the lowest figure or offer you want to initially put forward and see how the negotiation proceeds from your first offer. If what you put forward is too low or not acceptable, you will get an indication of this quickly and you will need to rethink your next offer and how much higher and further you are prepared to go. Always have a ceiling price and end result in mind so you are clear what your maximum price and goal is and what you are prepared go up to.
3. Trade Your Card
Be prepared to trade a card or two. You and the seller may have something that you can both trade and exchange as part of the negotiation. For instance, you may be able to offer something else that your opponent would value. It does not necessarily have to be a monetary trade; it could be additional time, resources or help. It’s worth thinking about other things you can throw onto the card table that can be traded between you.
4. Always Have a Trump Card
A trump card is what you may have to pull out to make a last-ditch attempt in a negotiation, especially if you are negotiating with other people for the same thing. A trump card could take the form of many things such as if you are in a bidding war, being able to offer something that will benefit your opponent and persuade the opponent to go with you. It could take the form of offering more money to grab the deal from the other bidders and negotiators. Your trump card could be the assurance of a fast sale or a fast-track deal, or having money ready for a fast transaction after the negotiation deal is struck.
5. Be Prepared to Turn Your Hand In
The other side to a negotiation win-win is that sometimes you just have to be prepared to turn your hand in and walk away. If the negotiation isn’t going to benefit you then you will need to admit defeat and start again. A negotiation should have an outcome and result that you are ultimately happy with and can live with. If the bargaining power is one-sided and you don’t feel you are getting what you need out of the process then it is wise to trust your gut instinct and bow out. You can also sleep on negotiation offers and prices; you don’t necessarily have to make your mind up straight away.
A good negotiation and deal will always feel right and you will know what a good game result is and what is game over.
Sonya is a writer for What House?, an online property portal specialising in new homes for sale in the UK. She also advises on property for sale and mortgages. Go to http://www.whathouse.co.uk for further information.