Negotiating is not just a part of business; it is a practice in everyday life. The world is full of negotiations, from purchasing a car to persuading your children to do their chores. However, not every negotiation will end in an easy win-win situation. In business, sometimes you might come across a buyer who just will not be persuaded.
While you do not want your client to walk away from a promising sale, you also do not want to be too pushy as that can compromise your relationship with that client and possibly future clients. Here are some skills from negotiation workshop to utilize when dealing with a buyer that just will not budge:
Keeping calm might seem like an obvious point, but many negotiations become heated because both negotiators or teams forget to take a breath and calm down. Negotiation workshops teach students to keep a cool head when finding themselves getting frustrated during the sales process. If you are getting irritated with your buyer, it pays to remember that your buyer likely needs you just as much as you need them. Keep a calm composure and think about your end goal in the negotiation.
Showing that you do not have patience or are frustrated is also showing the other negotiator your weakness. Showing your weakness can, in turn, give the buyer a chance to take advantage of your state of mind. Keeping a calm attitude will show that you are not only confident in yourself but that you are also willing to hear out your buyer’s demands and goals.
Identify Common Ground
Negotiation workshop trainers emphasize the importance of finding common ground in negotiations. Finding commonalities in the wants of you and your buyer can help both of you see where you can benefit mutually rather than where you can both lose.
For example, in purchasing a car, both a salesman and a buyer want to get a price that is mutually beneficial. The salesman wants the best price he can achieve, but a savvy salesman knows that a price point that offers the buyer some value means that their customer will likely come back to their business for future purchases.
Both buyer and seller are looking for a price point that works. Concentrating on this common ground rather than each individual’s goals can make for more successful negotiating outcomes.
Learn to Compromise
Using your shared goals, you can learn to compromise with your buyer. Compromising is not an easy task and can take patience and training on your part. However, skilled negotiating usually coincides with compromising and is a fundamental skill learned in sales workshops.
Once you know what your client does not want to compromise on in the deal, you can focus on what your client is willing to change or give up. Learning to find where there is space to compromise in your deal can lead to better outcomes than when pushing on areas your client is not willing to change.
Give The Buyer Space
One negotiation workshop technique many people take for granted is to give the other person some space to think. Sometimes a buyer might just get overwhelmed with the negotiations or just cannot see the bigger picture in the deal. In these situations, you often just need to give your buyer space to reconsider their position or think about the deal again.
For example, in real estate, sellers often might set a firm price that they do not want to compromise on. Stringent adherence to price can be difficult if the price is not realistic for the market with buyers not being willing to match the price the seller wants. In this case, many real estate agents might want to present the seller with their buyers’ offers and give a few days to let that feedback sink in. Usually, stubborn clients just need some space and time to think about the situation.
Maintain a Personal Connection
Negotiating is a very emotional situation, especially in scenarios where your buyer or client might have a lot invested in the deal. Maintaining a personal connection with your buyer or client helps make negotiating a much less stressful situation. If you are trying to give your buyer some space, make sure to check in after a few days of your initial meeting.
Remember to be assertive and concerned, but not aggressive or pushy. The aim is to acknowledge your client’s concerns with the deal and work with them to find the best possible solution.
At the end of the day, even the most stubborn buyers can be persuaded to make a deal. The key is to show that you are looking out for their interests and not are not just out for your own personal goals during a sales negotiation. Buyers that will not budge often have trouble seeing the bigger picture when it comes to making compromises on deals. However, using the skills from negotiation workshops outlined in this article, you can learn that giving your buyers space to see their options can change your buyer’s outlook.