Comments on: Effective negotiating strategies: are you being used in a bidding war? http://www.thickenmywallet.com/blog/wp/2009/04/02/effective-negotiating-strategies-are-you-being-used-in-a-bidding-war/ Everything to do with thickening your wallet Wed, 01 Feb 2012 15:44:00 +0000 hourly 1 http://wordpress.org/?v=3.3 By: Riscario Insider http://www.thickenmywallet.com/blog/wp/2009/04/02/effective-negotiating-strategies-are-you-being-used-in-a-bidding-war/comment-page-1/#comment-18544 Riscario Insider Sat, 04 Apr 2009 19:09:25 +0000 http://www.thickenmywallet.com/blog/wp/?p=866#comment-18544 We want what we cannot easily get. Scarcity is Robert Cialdini's <a href="http://www.marketingactuary.com/2007/06/universal-principle-of-influence-2.html" rel="nofollow"> second of six Universal Principles of Influence</a>. Years ago, I attended a seminar on negotiation skills from two professors at Harvard. They talked about your BATNA: Best Alternative To No Agreement. What do you lose if you walk away? Probably not much. You are not required to make a deal. Deals are like buses. If you miss one, you'll find there's another one on its way. We made an offer on a house priced 6% above market but the sellers wouldn't reduce the price by a penny. Rather than counter-offer, we bought a nicer house from more motivated sellers. The first house stayed on the market. I made an offer on a car that looked sharp in white but the dealer wasn't very flexible. So I got a more business-like dark grey instead. No big deal. If you're ready to walk away, you often find something better waiting for you. We want what we cannot easily get. Scarcity is Robert Cialdini’s second of six Universal Principles of Influence.

Years ago, I attended a seminar on negotiation skills from two professors at Harvard. They talked about your BATNA: Best Alternative To No Agreement. What do you lose if you walk away? Probably not much. You are not required to make a deal.

Deals are like buses. If you miss one, you’ll find there’s another one on its way.

We made an offer on a house priced 6% above market but the sellers wouldn’t reduce the price by a penny. Rather than counter-offer, we bought a nicer house from more motivated sellers. The first house stayed on the market. I made an offer on a car that looked sharp in white but the dealer wasn’t very flexible. So I got a more business-like dark grey instead. No big deal.

If you’re ready to walk away, you often find something better waiting for you.

]]> By: Four Pillars http://www.thickenmywallet.com/blog/wp/2009/04/02/effective-negotiating-strategies-are-you-being-used-in-a-bidding-war/comment-page-1/#comment-18526 Four Pillars Fri, 03 Apr 2009 00:28:14 +0000 http://www.thickenmywallet.com/blog/wp/?p=866#comment-18526 Good post - let me know if you want to enter it in the next CoPF (which I'm hosting). I've had this happen with my real estate agent - when I wanted to take things slow (ie wait until the next day) she always starts up with the "well, someone could come along and make an offer if you wait". Meanwhile, the house was sitting on the market for a month. Good post – let me know if you want to enter it in the next CoPF (which I’m hosting).

I’ve had this happen with my real estate agent – when I wanted to take things slow (ie wait until the next day) she always starts up with the “well, someone could come along and make an offer if you wait”. Meanwhile, the house was sitting on the market for a month.

]]> By: Baker @ ManVsDebt http://www.thickenmywallet.com/blog/wp/2009/04/02/effective-negotiating-strategies-are-you-being-used-in-a-bidding-war/comment-page-1/#comment-18520 Baker @ ManVsDebt Thu, 02 Apr 2009 11:11:03 +0000 http://www.thickenmywallet.com/blog/wp/?p=866#comment-18520 Great read! You've always got to be prepared to walk away if your are going to negotiate. If you aren't emotionally committed to walking away, then you aren't really negotiating, your simply waiting for the other side to tell you the price! Great read! You’ve always got to be prepared to walk away if your are going to negotiate. If you aren’t emotionally committed to walking away, then you aren’t really negotiating, your simply waiting for the other side to tell you the price!

]]> By: mfd http://www.thickenmywallet.com/blog/wp/2009/04/02/effective-negotiating-strategies-are-you-being-used-in-a-bidding-war/comment-page-1/#comment-18519 mfd Thu, 02 Apr 2009 07:26:48 +0000 http://www.thickenmywallet.com/blog/wp/?p=866#comment-18519 Over the past two years my fiance and I have been developing a resistance to the pressure tactics. Whenever we feel the slightest amount of sales pressure we walk away. There are other fish in the sea. Most recently its been with some wedding vendors. We've got it a couple of times now. "Oh we need a deposit to hold the date because we have another couple interested in the same day". We just tell to book with the other couple. Over the past two years my fiance and I have been developing a resistance to the pressure tactics. Whenever we feel the slightest amount of sales pressure we walk away. There are other fish in the sea.

Most recently its been with some wedding vendors. We’ve got it a couple of times now. “Oh we need a deposit to hold the date because we have another couple interested in the same day”. We just tell to book with the other couple.

]]>