The vice is a tactic where the buyer says, "You'll have to do better than that." If you're selling, the way to push back is to ask, "How much better exactly?" The word "exactly" is important, as it gets them to open. Once the vice runs out, you move the discussion to your end of the scale from that point on.
- [Chris] A tactic that's easy to use if you're buying…is the vice.…This is where you say, oh you'll have…to do better than that, or words to that effect.…A variation could be, it's still too much for me…I'm afraid, or can you reduce it a little bit more please?…Like a vice, you can keep turning the screw…for as long as you can get away with it,…especially if they come down by quite a lot very easily…and quickly, then you just have to give it another turn.…But be careful, don't say, if you came down a bit,…I'd buy it, because then you'd have to settle…at their end of the playing field.…
You'd have paid a figure at the high end of the scale.…Your aim is to get them down as much as possible,…and then say, it's still too much, I can only afford X…and put down an opening offer down at your end…of the scale, the low end.…Because then, you can move up from there.…But what can you do if someone's using the vice on you,…they're saying, you'll have to reduce your price,…and you're thinking, but if I do that,…they'll just keep asking for more and more.…
- Why we avoid negotiating
- When you should think about negotiating
- Planning your negotiation
- Calculating your opening offer
- Leveraging different negotiation tactics
- How to trade
- Determining if you should walk away
Skill Level Beginner
Negotiating Your Leadership Successwith Elizabeth Robillard1h 20m Intermediate
1. Decide to Negotiate
2. Planning Your Negotiation
3. Opening Offers
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