The Art of Negotiation

The Art of Negotiation - Creative Commons photo

Interview Coaching September 20, 2020

The Art of Negotiation

Negotiation Definition

To be clear, a negotiator is the one responsible for making negotiations, and a negotiation is a deal between two or more in a party designed to reach a useful outcome over certain issues.

Negotiation Skills

​​Becoming a better negotiator is a beneficial skill to learn that takes consistent practice. Whether you have to learn how to negotiate salary or are after learning how to get the raise you deserve, negotiating properly can help you earn as much as 25% more than if you negotiate poorly. Negotiating can be tricky, but it can increase your opportunities and improve your life in many ways. It’s a skill you can develop. 

Negotiation Tips

Every negotiation involves strategy, timing, and emotional awareness. Once you understand the fundamentals of negotiation, the next step is applying practical techniques that help you stay confident, maintain control, and guide the conversation toward a favorable outcome. The following tips highlight some of the most effective habits and mindsets that successful negotiators rely on.

1. Always Bid First and Higher

If you are selling something, don't assume the buyer will pay more than what your goal is. It is likely that if you allow the buyer to provide a price first, they will always low-ball, and it will make it harder to negotiate a better value. When bidding first, it is also essential to give a number that is higher than your end goal.

2. Listen Before Action

Listen before you reply. Let the other party finish any of their thoughts first. Silence may be awkward, but this can be used to your advantage. Most likely, the other party will fill the silence with valuable information to lead you to a better result. Not every response needs a reply, either. If someone claims the price is too high, let the silence make them think about their reasons why.

3. Avoid Negative Emotions

It is only natural to feel tension when negotiating, but don’t allow the other party to feel this tension. It will only lead to a roadblock that prevents success. Try to think of it as a challenge and something that is fun rather than something confrontational.

4. Make it a Win/Win Situation

Becoming a superior negotiator does not mean one party must lose. In fact, it means the opposite. For example, often, the car salesperson will say something like, “Let’s find something that works for both of us.” Then they will likely tack on extras such as car maintenance, but not lower the monthly price. Now the price seems more worth it to the buyer while the seller still gets what they want out of the deal; that is a win/win situation.

5. Research and More Research

Don't go into any negotiation before knowing what you are talking about. Research as much as you can on the topic that you are dealing with. For example, if you are trying to negotiate your rent (believe it or not, this does happen), then it is a good idea to research all the prices in the zip code you plan on living in, as well as crime statistics or other factors that can be negative, to allow a decrease.

Final Thought

Keep practicing these five steps, and you are sure to benefit the next time you must put your negotiating skills to the test. Remember, learn as much as possible so you can exude confidence and always look to help each party, and you will be sure to reap the benefits of becoming a master negotiator. 

Source: https://www.market-connections.net/blog/negotiation-definition

About the Author

Mandy Fard is a Certified Professional Resume Writer (CPRW, CMRW) and Recruiter with decades of experience in assisting job seekers, working directly with employers in multiple industries, and writing proven-effective resumes.
 
Feel free to connect with Mandy Fard on LinkedIn: https://www.linkedin.com/in/mandyfard/
 
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