The mistake: You’re way too literal about deadlines. You’re so stressed about hitting a 5 p.m. deadline that you try to start wrapping up things up by 3.
Do this instead: Most concessions and agreements occur
in relation to deadline because literal people don’t want to go past the
cutoff, says Herb Cohen, author of You Can Negotiate Anything! Patience
is key. If you’re not getting the deal you want, forget about the
deadline and your opponent might bend a little bit so they can wrap
things up on time. If the deadline passes with no concessions and you’re
walking out the door, ask what went wrong. Any insight the other guy
provides into what needed to happen to make it work might help you with a
post-deadline deal.
The mistake: You concentrate on what you want, not what they can give you. You’re tying to settle on a good price for that vintage cabinet, but conversations with the seller are going nowhere. Do this instead: Your first offer of $40 and their first counter of $100 are irrelevant, says Michael Schatzki, MPA, CSP, who runs the training program Negotiation Dynamics. The only number that counts is the seller’s lowest. You may want to pay $40, but if their lowest price is $60, your number is not as important as theirs. Do your homework, figure out how low they can go, and see if that’s something you can deal with. Don’t be distracted by what you want if it’s not even a feasible option.
The mistake: You push through, even when you need a break. You can feel yourself fading during a long meeting, but you don’t want to lose momentum, so you keep going. Do this instead: If you suddenly realize you didn’t fully prepare or you’re starting to lose your edge, just take a break, says Schatzki. Unfortunately, you might not be able to just say “let’s break for a minute” in the middle of a negotiation, so you’ll have to be a little more tactful. Excuse yourself to run to the restroom and give yourself a minute to recover.
The mistake: You jump in before doing your homework. It’s called “instinctive negotiation”: You get a phone call about the merger at your desk and because you’re “mostly up to speed,” you take the call. Do this instead: Most people negotiate using intuition, and that’s natural, says Marty Latz, Chairman and CEO of Latz Negotiation Institute. But it can also be devastating. Instead of jumping right in, say “I’m right in the middle of something. Can I get back to you in an hour?” Use that time to research so you’re on equal footing with the caller.
The mistake: You have an “all or nothing” mentality. You came to win the real-estate game, damn it, and you won’t leave a loser. Do this instead: In some negotiations there will be winners and losers, but viewing the process in general as a game to be won or lost is a mistake, says Latz. Figure out what the other side’s goals are and see if you can finagle both sides so it becomes a win-win situation. For example: Are the old owners really concerned about moving out of their house in 2 weeks, but you’re focused on having them pay for closing costs? Figure out if you can trade a later move-in date for a cheaper closing cost.
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The mistake: You concentrate on what you want, not what they can give you. You’re tying to settle on a good price for that vintage cabinet, but conversations with the seller are going nowhere. Do this instead: Your first offer of $40 and their first counter of $100 are irrelevant, says Michael Schatzki, MPA, CSP, who runs the training program Negotiation Dynamics. The only number that counts is the seller’s lowest. You may want to pay $40, but if their lowest price is $60, your number is not as important as theirs. Do your homework, figure out how low they can go, and see if that’s something you can deal with. Don’t be distracted by what you want if it’s not even a feasible option.
The mistake: You push through, even when you need a break. You can feel yourself fading during a long meeting, but you don’t want to lose momentum, so you keep going. Do this instead: If you suddenly realize you didn’t fully prepare or you’re starting to lose your edge, just take a break, says Schatzki. Unfortunately, you might not be able to just say “let’s break for a minute” in the middle of a negotiation, so you’ll have to be a little more tactful. Excuse yourself to run to the restroom and give yourself a minute to recover.
The mistake: You jump in before doing your homework. It’s called “instinctive negotiation”: You get a phone call about the merger at your desk and because you’re “mostly up to speed,” you take the call. Do this instead: Most people negotiate using intuition, and that’s natural, says Marty Latz, Chairman and CEO of Latz Negotiation Institute. But it can also be devastating. Instead of jumping right in, say “I’m right in the middle of something. Can I get back to you in an hour?” Use that time to research so you’re on equal footing with the caller.
The mistake: You have an “all or nothing” mentality. You came to win the real-estate game, damn it, and you won’t leave a loser. Do this instead: In some negotiations there will be winners and losers, but viewing the process in general as a game to be won or lost is a mistake, says Latz. Figure out what the other side’s goals are and see if you can finagle both sides so it becomes a win-win situation. For example: Are the old owners really concerned about moving out of their house in 2 weeks, but you’re focused on having them pay for closing costs? Figure out if you can trade a later move-in date for a cheaper closing cost.
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