Negotiating in Life, Negotiating Tips, Business Negotiation December 10, 2010

Negotiating: What to do when the market is against you.

The terms “sellers market” or “buyers market” may mean that one party has a power advantage over the other. Does this mean that if the market is in your favor you have all the negotiating power or vice versa? Not entirely. You can always negotiate because business negotiations involve many factors, including your specific situation.

One issue to consider is the length of the relationship you expect to have with the other party. If this is strictly a one-time deal, perhaps hardening your position makes sense. If, however, you are involved in a long-term relationship with the other party, you will need to be flexible.

In the article “Flexibility key in business negotiations” in the Winona Daily News, a sales manager at a local car dealership says: "The long-term relationships have been critical to doing well in this down environment... It's more important than ever to have a relationship with buyers."

In other words, if you are a seller in a buyers market and want to have long term relationships in a buyers market, you will settle for less money to give the buyer a deal.

Negotiators must consider the big picture. In the Winona Daily News article another factor comes into play: knowledge. Both parties should research specifics.

“Business owners in both real estate and auto sales stressed the importance of knowing the market in negotiations.

"Knowledge is power, so, as a Realtor, you need to have data and research and know your market," said Nancy Gerrard, co-owner of Gerrard-Hoeschler Realtors, based in La Crosse, Wisconsin.

The Coulee Region housing market is not seeing the extreme decrease in home values happening in other parts of the country, she said. It's important for her to know that when buyers come in with a very low purchase offer on a home based on national news headlines.”

Perhaps you are a strong seller in a buyers market—you offer services that other sellers do not, for instance. In this case, you have an advantage that can help you at the negotiating table. It is also good to consider the issues on the table other than price. These could be delivery date, contract length, payment terms, and others, all of which may be negotiable.

How do you deal when the market seems to be against you?

THE PROGRAM WAS GREAT! MY SEMINAR LEADER AND THE STRUCTURE OF THE COURSE KEPT ME CONSTANTLY STIMULATED. I NOW AM BETTER PREPARED TO GO INTO AN IMPORTANT NEGOTIATION MEETING AND STAY IN CONTROL, WHILE FINISHING THE MEETING SATISFIED.

Deanna D.
CASE MANAGER at THE JACKSON LABORATORY

IF YOU HAVE THE TRAINING BUDGET AND TWO DAYS TO SPARE, YOU'LL STRUGGLE TO FIND A PROGRAM MORE FAR-REACHING, ON-POINT, AND INSTANTLY IMPLEMENTABLE.

Jeff G.
BUSINESS DEVELOPMENT MANAGER at THE M.K. MORSE COMPANY

EXCELLENT COURSE, BRINGS MORE CONFIDENCE IN MY ABILITY TO NEGOTIATE. I THINK THIS COURSE IS A MUST FOR ALL EMPLOYEES WHO DEAL WITH CUSTOMERS.

John S.
CHIEF ENGINEERING MANAGER at EXXONMOBIL

THIS WAS VERY EFFECTIVE WITH A STRONG FOCUS ON BOTH-WIN NEGOTIATING.

Kathleen L.
SENIOR ANALYST at BLUE CROSS/BLUE SHIELD OF MICHIGAN

THE KARRASS CLASS WAS THE SINGLE BEST TRAINING CLASS/SEMINAR I HAVE EVER ATTENDED. EVERY TIME WE DID AN EXERCISE IT TAUGHT YOU WHAT TO DO DIFFERENTLY NEXT TIME. THANKS.

Kim C.
PROCUREMENT at AMERICAN EXPRESS

THIS PROGRAM HAS GREATLY INCREASED MY CONFIDENCE AND ABILITY TO NEGOTIATE FOR MYSELF AS WELL AS MY COMPANY.

LaDonna E.
SENIOR STRATEGIC BUYER at HALLMARK

THE NEGOTIATING CLASS WAS VERY INFORMATIVE. THE INSTRUCTOR PROVIDED AN INSPIRATIONAL MESSAGE THAT CAN BE APPLIED TO EVERYDAY LIFE.

Mary S.
INTERNATIONAL SOURCING at FMC TECHNOLOGIES

WE NEGOTIATE EVERY DAY OF OUR LIVES, BOTH PERSONALLY AND PROFESSIONALLY. THIS COURSE DEFINES THE PROCESS AND PROVIDES TECHNIQUES TO ACHIEVE SUCCESSFUL RESULTS.

Phillip H.
VICE PRESIDENT at GE

PRIOR TO THIS CLASS I FELT AS THOUGH I WAS GETTING EATEN ALIVE BY INTERNAL NEGOTIATIONS WITH SALES REPS. NOW I FEEL PREPARED TO CHALLENGE WHAT THEY ARE SAYING AND BET TO THEIR REAL NEEDS.

Steve Q.
PLANNER at HONEYWELL

MANY PEOPLE FAIL TO ACHIEVE THEIR POTENTIAL BECAUSE THEY DON’T SEE THE OPPORTUNITIES TO NEGOTIATE A WIN/WIN AGREEMENT WITH THEIR COLLEAGUES. THIS CLASS IS AN EYE OPENER TO THIS DYNAMIC..

Stuart B.
CONTRACTS MANAGER at HEWLETT-PACKARD
Contact US
[email protected][email protected]+1 323 866-3800
SEMINARS
About Us
AboutDR. CHESTER KARRASSGARY KARRASSFAQGLOSSARYPRIVACY POLICYBLOG
QUICK LINKS