What is a Negotiation? Why do they take place?

-A negotiation is a strategic discussion that resolves an issue in a way that both parties find acceptable.​

-Negotiations can take place between buyers and sellers, an employer and prospective employee, or governments of two or more countries. Parents and children and so much more.​

-Negotiating is used to reduce debts, lower the sale price of a house, improve the conditions of a contract, or get a better deal on a car.​

Quick Tips

Justify your Position​

Don't just walk into negotiations without being able to back up your position. Come armed with information to show that you've done your research and you're committed to the deal.​

Put Yourself in Their Shoes​

There's nothing wrong with sticking to your ground. But while you shouldn't go over your limitations—such as spending more money if you're buying a home or car—remember that the other party has its own restrictions as well. There's nothing wrong with trying to see things from the other person's perspective and why they may not accept your offer.​

Remove the Emotion​

It's easy to get caught up and be swayed by your personal feelings, especially if you're really vested in the outcome. The best thing to do is to keep your emotions in check before you start.​

Know When to Stop​

Before you begin the negotiating process, it's a good idea to know when you'll walk away. There is no use trying to get the other party to see where you stand if the talks aren't moving forward.​

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