This is the full hour-long episode I recorded with Ron Nash where we discuss counter-tactics to common negotiation strategies, this is Defence Against the Dark Arts! See the timestamps below with the tactic names.
4:27 “Give me your best and final offer”
This is a time crunch tactic, the one using it wants you to make a quick decision, hoping you will make a mistake.
8:35 “Straw Issues, or Filling the Pot”
Buyers will use this tactic to get some extras, Sellers can use it to get closer to the agreement.
13:20 “The Bogey Approach”
This sounds like “This is all I have to spend” Be Very Skeptical when you hear this! The counter to this is to Flinch, “Are you for real!?”
19:00 “Ask how much it will be, or you will get taken”
Change orders without documentation are the perfect example, make sure it’s in writing!
24:50 “Take it or leave it”
This is a brutal tactic with a brutal counter tactic.
27:17 “Littering the Lawn”
This tactic brings up all the bad memories, it can be used against you and you can use it as a counter tactic.
30:22 “The reverse auction”
This sounds like “I’ve already got my price for x, can you beat it”
32:55 “Changing the Shape of the Deal”
Deals can be looked at like a pie, you can expand the pie.
34:50 “The Nibble”
People will see how much more they can get from you.
36:15 “Flinch”
This is powerful because people don't like to make other people uncomfortable, you can diffuse tension.
38:45 “Understand what Your Customer Wants, give them What they Want”
People always find the money for what they want!
42:30 “The Planning Purpose Trap”
Be careful of quoting prices too quickly, ask a lot of questions.
45:10 “The Salami Slice Approach”
People try to pick apart the specification and try to negotiate on one point.
47:15 “The Crunch”
People will say “You’ve got to do better than that”
48:45 “Escalation”
This is used on Pawn Stars all the time!
52:30 “The What If”
A positive tactic that builds relationships.
53:30 “Change the Shape of the Deal
NEVER NEVER NEVER negotiate on a single product, or point of the deal. NEVER.
53:45 “The Time Crunch”
Careful! Deals get sloppy when rushed.
55:00 “Telephone Negotiations”
Certain price points can be negotiated via phone, higher dollar deals should be done in person.
People buy outcomes, not features, remember this when you are selling and negotiating.
You are selling outcomes!
“I sell beautiful tile installations that last a lifetime”
This episode of Tile Money is brought to you by the National Tile Contractors Association and Sponsored by Laticrete International.
https://www.tile-assn.com/#
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