The Art of Negotiating

[Wes S.]

I wanted to open a Dialogue on the 'Art of Negotiating.'

Just curious as to your tactics and way you go about offering, renegotiating, closing a deal, ect.

I'll pitch a few questions to get the ball rolling but add yours to the list:
- How do you explain your point of view on pricing the deal?
- How do you approach a potential 'Low Ball' without pissing the seller off?
- Do you reneg at the last second?
- Is is appropriate to make friends with the sellers? or stay distant until deal is done?

Whats your opinion or 2 cents?

My goal is to uncover the proven successful strategies that others can use down the road. :D

[Kevin Amolsch]

This is a nice post and should get some interested responses. I say always make a friend before you negotiate. People do business with people they like. The key to a great deal is to have them tell you a price. For example have them start by asking what the lowest price is they would consider. Once they respond with a number you have many options. A good one is just to say "really?" and shut up. The price should fall. At that time don't way anything. Just stay quit until the price comes down again. Once it comes down again, that is the number you start to negotiate from.

It is a good idea to learn some strategies and practice a lot. Always agree with the seller even if they are wrong. The two most powerful words in negotiating are "I understand"