Alternatives
The first important concept at the negotiator’s disposal is one or more practical alternatives to the deal currently on the table. Alternatives make it possible for a negotiator to say, “If this negotiation fails to produce what I need, I can always do ________.” Consider this simple example:
|
You are selling your house and already have an offer from a qualified buyer for $400,000. A second potential buyer has come into the picture, this one offering $375,000. You counter that second offer, asking for $449,000. As you negotiate with this second buyer, you know that you have someone ready to pay you $400,000 for the house. |
In effect, alternatives give the negotiator a credible walk-away opportunity. In theory at least, the negotiator ...
Get How to Become a Better Negotiator, Second Edition now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
