Successful negotiating encompasses the acquired ability to use certain skills and techniques to bring about coveted win-win results. Your Bold Realty Agent can help you stay focused, objective, and not let your emotions rule.
In negotiations, there are two ways of bargaining.
Distributive bargaining is a type of win-lose bargain, also known as haggling, where the objectives of both parties are to strictly look out for their own best interest. Often, this has it's limitations, especially if both parties are very set on what they want.
Another way of bargaining, is interest based bargaining. This type of bargaining has it's limitations as well. However, what advantages does this have over other types of bargaining? This let's you fight hard for what you care about while still being nice on the person. A lot of times you can be nice but feel taken advantage of. However, the way to build long lasting relationships and a better win-win solution is to find a way to do it that serves the other person.
To do this, one has to focus on interests, not positions, and then reconcile them with creative options.
To illustrate this in, we'll use the Camp David Peace Accords. In 1973, Egypt and Israel fought the Yom Kippur War. After several weeks of fighting, they entered a fragile truce. But for several years after, they were extremely close to going back to war. In 1978, President Anwar Sadat of Egypt and Prime Minister Menachem Begin of Israel flew to Camp David to meet with President Jimmy Carter to talk about a possible peace accord. They reached an impasse over the Sinai peninsula, a triangle piece of desert between the 2 countries. Both Egypt and Israel wanted it, and were dead set on having it.
Until a skilled politician asked them, why do you want it? When Egypt said they wanted sovereignty and their flag raised, while Israel stated they wanted more security. When Sadat was asked what he meant by sovereignty, he meant that he wanted his flag flown over, and his people moved in. While Begin of Israel meant no surprise attack by security. So Egypt moved their flag in, while Israel moved their military in. And both parties were satisfied. After several more days, the three leaders flew to the White House, where they signed treaties, and all three men won the Nobel Peace Prize. None of these two sides have gone to war ever since.
It's important to prepare by thinking carefully about your and the other's interests, rather than positions, and options that may satisfy them. But potentially much greater to ask specifically why they want what they want, and to delve into the reasons of their interests. Then take the time for creative options.
Do some research to deepen your understanding of the interests & options. Taking the time to build trust & rapport and set a positive tone will have benefits that were previously unseen, and will last throughout time.
It's wise to not reveal desperation and never real anything that may devalue you. But if you share your interests, you can invite the other negotiator to help you.
Studies have shown again and again throughout time, that skilled negotiators spend far more time thinking about the other person than mediocre negotiators do.