Friday, August 11, 2017

When there's no room to negotiate

Has it ever happen to you that you want to negotiate, and there isn't much room for negotiation?

The transaction process feels deadlocked. You just want to negotiate because you've been trained that way and think it's the “manly” thing to do, or also because you don't want to leave money on the table or because your opponent isn't that strong anyway and you're much better than him or her?

I'm sure it happens all the time and the most important question to ask is if the external circumstances are in favor of one party or another, and, in the ideal case, when one has absolutely nothing to lose.

As an example, consider negotiating a real estate deal in a seller's market when you are the buyer. The seller has a huge advantage over you, so negotiating means protecting yourself and hoping not to be sucked into the seller's margin of superiority, unless you're indeed a much better negotiator!
The process really heats up when both parties are savvy, focused and determined negotiators; then, without a question, the one that is positioned within the current market trend or has absolutely nothing to lose will get the best deal. This is a simple as that.

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