What are four important tactical tasks for a negotiator in a distributive situation to consider?
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I would like to stress on the important points a negotiator has to consider while conducting a distributive negotiation giving an example:
I am considering buying an apartment in the downtown Chicago:
1) Assessing the other party’s (seller’s) target, resistance point, and cost/point of terminating negotiations:
While negotiating in the price for the apartment I would want to understand the “realistic” price for the apartment considering its positive and negative aspects. I would have to understand the sellers urgency to conduct the sale and the point or cost or price drop at which he wouldn’t accept the counter offer.
2) Manage the other party’s (seller’s) impression of the negotiator’s target, resistance point and cost of terminating negotiation:
While negotiating I need to clearly state and ensure the seller understands my perspective, willingness to pay, urgency of buy, and my budget, the key factors of my purchase and consideration of his property so that he sets the right target or his expectations of price from my side.
3) Modify the other party’s perception of his or her own target, resistance point and cost of terminating negotiation:
Once I am able to understand the seller’s targeted sale price, resistance point on negotiation and the ultimate “take it or leave it” price, I would be able to strategies on my negotiation accordingly.
4) Manipulate the actual cost of delaying in terminating negotiations:
Once I set forth my purchase price and if the seller is not ready to negotiate on the price set forth by me, I would have to make him understand why his expectations are unreasonable.
If I follow the above steps, this will help me in better conducting and assessing the negotiations worthy enough to get the purchase through.