Vocabulary【Negotiation Techniques】
You can use various techniques to help improve your chances of having a successful negotiation.
Listen actively.
Listen actively to your counterpart to understand their needs and point of view.
This shows them that you are interested in their needs, which helps build trust.
Build rapport.
When people have rapport, they understand each other and communicate well.
Building rapport increases the chance of reaching an agreement during a negotiation.
Rapport can be built by listening actively, sharing information and finding common interests.
Ask open-ended questions.
Asking open-ended questions allows you to gather more information from the other side.
It encourages your counterpart to give longer answers, which helps you understand their position and needs.
Set a high anchor.
Setting a high anchor point increases your chances for a good deal.
By setting a high anchor point, your counterpart may make concessions that are closer to what you want.
However, if your anchor is too high, you may be seen as unreasonable or unrealistic.
Emphasize urgency.
Creating a sense of urgency can lead to a quick agreement.
If negotiations are moving slowly, you could set a deadline or stop the talks.
But if you push too aggressively, the other side may become uncomfortable and walk away.
Question
- We believe that building rapport with our clients is essential to establishing a long-term relationship.
- He could have understood their point of view had he asked additional open-ended questions.
- Building rapport creates a comfortable negotiating environment.
- What helps guide the negotiation towards a more desirable outcome?
> setting a high anchor point
