hat is the Best Outcome?
In negotiations as the buyer's agent, the objective should not simply be a reduction in the price that the buyer pays the seller. While this IS INDEED the ultimate goal, what is the persuasive outward manifestation that alleviates seller apprehensions and causes the seller to K a deal?
If we understand this, we can successfully negotiate ANY deal. However, I say this with the caveat that a successful negotiation may not yield the buyer the price the buyer hoped to obtain.
Rather, the successful negotiation is the movement of both the buyer and the seller to some agreeable state where they can K off and close.
What is the best outcome of a negotiation?
While one may feel that the best outcome of a negotiation is when he/she gets everything they want. This is simply not realistic in a general sense.
Realistically, the BEST outcome of a negotiation is when there is a meeting of the minds in that both parties are agreeable to what they each stand to gain as well as what each will render to the other party.
These types of outcomes provide the basis for a trusting (although competitive-interest based) relationship where each party looks forward to negotiating with each other once again.
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Considerations
- Is this really worth the time and effort to negotiate?
- As a buyer, what leverage do I possess?
- What leverage does the seller hold?
- Where does common ground to K off exist?
"Envisioning what a realistic and successful outcome is depends on the four factors listed above."
Brian Rice