How to Negotiate Better - Listen More Than You Speak

You can start to learn how to negotiate better by listening more than you speak. Early in a negotiation, your goal is to discover the other party's needs and wants. The more time you spend speaking with them, the more information they will disclose to you. As the conversation progresses, you should start to build rapport with them. Also, offer them alternatives or alternative solutions. These are just a few tips on how to negotiate better.
Build rapport

To successfully negotiate, you must build rapport with your counterpart. To achieve this, you must first change your mindset. When entering a negotiation, be intentional in your verbalizations, actions, and behaviors. Then, your counterpart will be more likely to reciprocate your good intentions. When this happens, the two of you will build rapport and achieve your goal of reaching an agreement. You can even mirror your counterpart's body language.

Often, busy professionals prefer to skip small talk. However, this is a vitally important tool that can help improve cooperation and mutual understanding. Moreover, building rapport does not have to be a one-sided process, as it should be done in a genuine manner. Genuine rapport promotes credibility and trust. Here are some effective ways to build rapport during negotiations:

Practice being curious. Always remain curious about the other person's motives. Remember that there is a person behind each behavior - even if it's just a rational one. Practice empathy and you will quickly see the benefits of developing rapport with your counterpart. The same goes for your clients. You can do this with any skill or talent you have. Building rapport with your counterpart is a matter of practice. Doing so can make all the difference in the world in the future.

During negotiations, remember to build rapport and empathy between you and your counterpart. A sense of empathy and rapport will be difficult to establish without these behaviors. Keeping eye contact with your counterpart is essential to maintain a good rapport with them. Similarly, smiles and nodding the head indicate openness. When your counterpart looks down, they are showing disinterest or frustration. It can take a while to return to an 'even keel' after making a controversial statement.

Offer concessions

Whenever you are in a negotiation with a counterpart, one of the most effective strategies is to offer concessions. This is because you will gain more if you offer more, and it will help you feel better about the process. However, you should note that you should only offer concessions when the situation warrants it. Always remember to weigh the benefits and costs of making a concession. Once you have identified these factors, you can proceed to negotiate better.

The first tip when offering concessions is to understand that price is rarely the only factor in a purchase decision. That being the case, don't just offer less than the price you think is reasonable. Moreover, don't make concessions without getting something in return. Another useful tip is to observe the other person's body language and underlying messages. In this way, you can gauge whether you're approaching the other person well and what he or she is saying.

Timing is also important. In a negotiation, timing is everything. The more serious your counterpart views your initial demands, the more power your concessions will have. When making a concession, you should let the other person know that it was a significant sacrifice on your part. Only then will you be able to make a better deal. It is important to make sure your concessions have some effect. However, you should avoid making concessions that are worthless and will be viewed as frivolous.

A good strategy for negotiating is to offer more than just a purchase price. Consider the value of your home and its features as well. A lower price may seem more attractive, but it may not be as beneficial as one with more concessions. Consider all of these things before making a final decision. By comparing offers, you will find a more rewarding deal. This way, you won't have to stress the purchase price and only focus on the value of the house.

Listen more than you speak

When you listen to your counterpart's concerns, you'll be able to understand their intentions. When you listen closely, you'll catch information that the other person may not have thought to mention. By being more aware of your counterpart's thoughts and feelings, you'll be able to take advantage of these nuances. It's an unspoken rule that many people fail to follow, but it is an invaluable skill to develop to be successful in negotiations.

When negotiating, it is crucial to listen well and keep your emotions in check. Anger serves to trigger a response and interferes with your listening ability. Anger also tends to close you off from your counterpart. However, if you feel that you absolutely must react in anger, do it for effect, and try to maintain control of your emotions. For example, when Khrushchev was negotiating in the UN, he once pounded his shoe on the table in a fit of anger. While you might not have to use this tactic, you can remember that he was demonstrating control of his emotions by pounding on the table.

As you listen, notice body language. It tells whether you're paying attention to the person's words or not. If you're leaning away from a statement, it's a signal that you're not paying attention. When you listen to the other person's words, use your EQ to your advantage. Listening is much more effective than speaking. If you want to win negotiations, you have to be able to read their body language and nonverbal cues.

In addition to understanding, active listening enables you to make better impressions, build better working relationships, and make better negotiations. Most people are easily distracted. That's why putting your phone down or turning off your TV or computer is important. You'll also be able to mentally take notes or use your imagination to capture the speaker's point of view. Active listening also helps you to understand the speaker's intentions without adding perspective or attacking.

Offer alternative options

To effectively negotiate better, you must first brainstorm different alternatives and then evaluate each one to make sure that it is a worthwhile alternative. Avoid making assumptions about the other party and ensure that you are not relying on assumptions. Also, be sure to evaluate each alternative before you use it to further increase your bargaining power. The more options you offer, the better your understanding of the market is. If you offer many alternatives, it will be easier for you to convince your counterpart to accept a lower price.

A study conducted by Harvard Business School researchers found that the most powerful negotiators used multiple alternatives to limit their opponents' responses and made lower first offers. In contrast, those with no or weak alternatives always gave their best and made lower first offers. However, negotiators who were aware of their options always felt more powerful. In other words, having multiple alternatives constrains the other party and makes them make a more aggressive first offer.