Adapted from “6 Tips for Novice Hagglers,” first published in the August 2009 issue of Negotiation.
Whether you’re purchasing a new home or car, or negotiating a discount on an inventory purchase for your firm, the art of haggling enables negotiators to make a strong claim for their share of the pie. Here are six tips from the Negotiation Briefings newsletter to help you start becoming a better at haggling in business negotiations.
1. Thoroughly research what you want and where you can get it.
- See also: Negotiation Skills – Negotiation Strategies and Negotiation Techniques to Help You Become a Better Negotiator
2. Consider what the other side will do if you walk away from a deal. (BATNA)
- See also: The Paradox of Positions
3. Set a stage for the negotiation that’s comfortable for both sides.
4. Anchor talks in your direction by making the first offer.
- See also: 10 Hard Bargaining Tactics
5. Insist that the other side reciprocate each concession you make.
- See also: Trust in Negotiations
6. Expand the pie by discussing issues other than price.
Related Article: Dealmaking – 6 Strategies for Creating Value or Claiming Value Through Haggling