The golden rule of negotiation

Via Lifehacker:

Experienced negotiator Eric Sink says there's only one thing you need to know about effective negotiation, whether it's for a lower car price or a higher salary:

In negotiation, the one thing that really strengthens your position is the ability to walk away from the deal.

Negotiating from a position of real need is a bad, bad situation. You are almost certainly going to lose. The other party will push until they find your threshold of pain.


I admit I'm a terrible negotiator, a flaw that can easily sink a freelancer's ship when you undersell yourself. But Eric's advice sounds solid, and I'm going to set up a realistic Plan B next time I'm fixin' to haggle. What techniques do you use to negotiate? Let us know in the comments or to tips at lifehacker.com.

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1 Comment (+add yours?)

  1. Kimmers
    Jul 26, 2007 @ 17:44:00

    It's TRUE. Even if you don't want to walk away, just pretend. 9 times out of 10, the seller won't let you leave the immediate area before calling you back with a better offer. The one time out of 10, they'll probably call you on the phone that night or the next day and make a better offer.
    I used to HATE haggling. Seemed smarmy. But many cultures don't respect buyers who just pay whatever they ask.
    Embrace the fun of negotiating. Make it a game. Even if you DO end up walking away, you still win – you didn't get ripped off!

    Reply

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