In virtually all negotiations both sides make concessions. While we won't, in this discussion, concern ourselves with the amount of our concessions, we do need to talk about the speed of our concessions.
The speed strategy worthy of serious consideration (and adoption) is simply - concede slowly.
The reasons for doing so are most compelling.
• First, quick concessions send a message that there are many more coming. There may be more, but tipping our hand to that possibility works against our best effort. Slowing down hints of the opposite - that there might not be many or any concessions left.
• Second, the more slowly one concedes the more value our opponent will likely attach to that concession. The extra time in anticipation of a concession tends to force an opponent to over analyze the concession itself. That slow pace can prompt an opponent to rethink their position too.
• Third, slow concessions add another benefit, namely the "Power of Investment". That power source stems from the fact that the more time we can force an opponent to invest in a negotiation, the more likely they will make a concession. It is somewhat irrational, but it's true.
So the next time you're into bargaining, don't be too quick in offering a concession. The winner of this battle is not the fastest, but the slowest.
So take your time as you KEEP Negotiating.
Author:Erin Bishop Phone: 717-873-8767 Dated: June 7th 2019 Views: 266 About Erin: Erin is the Sales Director for Space and Company as well as a licensed real estate agent and experie...
Michael’s real estate practice is focused on quality properties in established and developing neighborhoods that offer all the desirable amenities of urban living. Rittenhouse Square to Queen Village, Kensington to Passyunk, and great outlying communities such as Chestnut Hill and Spruce Hill are all within his domain.
Michael ventured into real estate in New York in the 1990’s developing residential and small business commercial properties as an investor, contractor, and end user. In 2005 he moved to Philadelphia and began working with individuals, couples, families, and investors to achieve their real estate goals. Since then, Michael has developed a comprehensive knowledge of the neighborhoods of Philadelphi a, our changing market conditions, and how to position each deal. He has an inherent ability to understand his client’s motivation, tastes, and bottom line, making him in an invaluable asset to each transaction. Michael’s attention to detail and his sensitivity to the interests of all involved parties are redefining buyer’s and seller’s expectations, one client at a time.