Silence To respond to an Silence, like a The rule is: offer with crunch, is an The first silence. attempt to get one to talk the other side loses. to respond with Respond to concessions silence with – bigger ones silence. than you might have asked for. Split the To to settle To get a quick Often difference at the mid-point. settlement buyers will when the two make a sides are not lowball far apart. Split offer and the difference then offer sounds like a to split the fair offer, even difference. if it is not. Never split the difference when it is in the other side’s favor or is not close to your HLE. Have patience and keep negotiating. An ultimatum To signal a Leave it and refusal to offer; often unless it is continue used with the above your negotiations. phrase, fair, walk-away, “A Forces the final offer. which it side to make a Take it or leave usually is yes/no decision. it.” not. Often a take-it-or leave-it offer is a bluff, so always call the bluff. Issues, terms, Always have Do not fall conditions, and throw-aways in into added value that complex reciprocity are part of an negotiations. traps and initial offer but Throw-aways give away are intended as should be something concessions later issues, terms, important in a negotiation. conditions, and to you when added value the other that are of side makes
Silence To respond to an offer with silence. Silence, like a crunch, is an attempt to get the other side to respond with concessions – bigger ones than you might have asked for. The rule is: The first one to talk loses. Respond to silence with silence. Split the difference To to settle at the mid-point. To get a quick settlement when the two sides are not far apart. Split the difference sounds like a fair offer, even if it is not. Often buyers will make a lowball offer and then offer to split the difference. Never split the difference when it is in the other side’s favor or is not close to your HLE. Have patience and keep negotiating. An ultimatum and refusal to continue negotiations. Forces the side to make a yes/no decision. To signal a offer; often used with the phrase, “A fair, final offer. Take it or leave it.” Leave it unless it is above your walk-away, which it usually is not. Often a take-it-or leave-it offer is a bluff, so always call the bluff. Issues, terms, conditions, and added value that are part of an initial offer but are intended as concessions later in a negotiation. Always have throw-aways in complex negotiations. Throw-aways should be issues, terms, conditions, and added value that are of Do not fall into reciprocity traps and give away something important to you when the other side makes
MS_5_Chapter_13_NegotiatingClosing_COMPLETE.docx