Summary: Putting off the decision to have more time for consideration.
One of the tactics that can keep the door open in a negotiation is: “I’ll Think About It and Get Back to You Later.”
A man is interested in a buying dining room set from his neighbor. The seller says her price is $1,500. The buyer responds, “I’ll Think About It and Get Back to You Later.”
Some questions the seller could ask to counter this tactic would be: “What specifically are you going to think about?” and, “When will you get back to me?” Another appropriate response for the seller would be to explain that there are other people interested in the set and it will go to the first or best offer. Finally, a more aggressive response would be to ask, “Is price the issue? Do you have a ballpark figure in mind that we could discuss?”
Have you used or encountered this tactic in your negotiations? If so, how’d it go?