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Tactic #15 - Trade-Off Concession
Summary: Getting something in return for
everything that is given up.
A good rule to remember in negotiation is to get
something in return every time you give up something.
Example
A home buyer states, "I will buy your house for
$180,000, but for that price, you will have to throw in your washer and
dryer." The seller responds, "If I do that, you will have to close
escrow in thirty days," or "You will have to pay $182,000."
If the seller does not get a trade-off every time
she makes a concession, her counterpart will most likely ask for more
concessions. Then if the seller suddenly says, "Wait a moment.
I already gave you a washer and dryer, and now you are asking for more
concessions," the buyer can respond, "Why are you bringing up the washer
and dryer? We already agreed to that."
Counter
The buyer might respond to the seller's
counteroffer with another deal point. He could say, "If you throw
in the washer and dryer, I will close escrow in thirty days, but you
will have to carry back a $20,000 second trust deed for one year."
When using the Trade-Off Concession, the following
are good rules to keep in mind.
- If you can, encourage your counterpart to
concede first.
- Exchange concessions for deal points that have
less value to you, but greater value to your counterpart.
- Concede in small increments.
- Consider phrases like "I'll consider it" and
"Let me think about that." Just say "no" if the concession is
not in your best interests.
- Do not concede anything without getting
something in return. Your counterpart will have more
appreciation for the final outcome and more respect for you.
This tactic is one of 101 strategies and tactics
featured in The Only Negotiating Guide You'll Ever Need, by Peter
Stark and Jane Flaherty.
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