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Peter Barron Stark
President
Peter and his team of expert negotiators train leaders, sales professionals and procurement
specialists in the art of negotiation.
Click here to learn more about our programs.
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Tactic #5 - Concede Small
Summary: Sticking to minor concessions in the opening rounds of a negotiation.
Here’s a good rule of thumb: If you are going to concede in the opening rounds of a negotiation, Concede Small.
Example
You are selling your house and your asking price is $550,000. You receive an offer of $500,000. Instead of countering with $525,000 in the first round, which is what most people would do, you counter with $548,250. This small concession is a better starting point for this negotiation.
Although negotiating this way takes time, conceding in small increments makes it more likely that you will end up with $540,000. If you immediately counter the buyer’s offer at $525,000, he will probably counter with $512,500, and you will end up getting less money for your house.
Counter
The best counter for the buyer in this scenario is to respond with his own small concession, for example, a counteroffer of $508,250.
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This tactic is one of 101 strategies and tactics featured in The Only Negotiating
Guide You'll Ever Need, by Peter Stark and Jane Flaherty.
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