Negotiation Tactic #101 – Switching Tactics

Summary: Changing gears and going with a different tactic when the previous negotiation strategy has not been working.

When one tactic is not working, the worst thing you can do is turn up the volume on the same tactic.

Example
A real estate agent is trying to sell a house. The potential buyers are a very analytical couple who want to have a lot of information before entering a negotiation. They say they want to look at more research on the neighborhood and take time to think before making an offer. If the real estate agent is a typical shark, he might respond by saying something like, “Well, don’t blame me if someone else comes in tonight with an offer and buys your house.” This tactic might well prompt the prospective buyers to respond with These Boots Are Made for Walking, and find another real estate agent to work with.

The real estate agent would improve his chances of negotiating a win-win outcome by Switching Tactics. He might try Referencing a Benchmark to let the potential buyers know how quickly property is currently selling in this neighborhood; or Investing Time, offering to show the potential buyers the schools, parks and shopping areas in the neighborhood. If he helps the buyers conduct their research, his chances of selling the property improve significantly.

It’s important to be resourceful throughout all your negotiations. When one tactic isn’t working, quickly switch to another.

Have you used or encountered this tactic in your negotiations? If so, how’d it go?