Many people think that negotiating is filled with underhanded tactics and strategies. In reality negotiations can be a positive and productive process. This five part series uncovers the value of key elements in the negotiations process – specifically the negotiations range. You may ask “what is the range?” Many negotiators focus only on the monetary aspect when thinking about their range. We encourage using this same principle in any area in which concessions will be traded. In addition to a range for dollars, additional examples for application are: service hours included, delivery times, percentages… Be creative! And, always think mutuality-based, win-win.
There are five interactive areas that make up the range: the Wish, the Aspiration, the Bottom Line, the BATNA, and the WATNA. Earlier articles in the series focused on the power of the Wish, the Aspiration and the Bottom Line. Join us here in unraveling the complexity of the BATNA as it relates to the sale of a house.
Power of the BATNA:
BATNA stands for the Best Alternative to a Negotiated Agreement. The BATNA is useful when the negotiation has ended without a deal. In negotiations, the BATNA is the best guard you can have to never going past your Bottom Line. Why? Because when you negotiation with a BATNA you have alternatives. You have options. When you have alternatives in negotiations, you need not ever again feel pressured into going past what you said were your limits. You will negotiate knowing you can turn to your alternatives. (And the more alternatives the better). In this case, an alternative for the buyer is that he/she sells to someone else. Another is to be okay with keeping the house on the market longer.
How to Learn More:
Want to learn more about negotiation skills and the key elements of range? Stay tuned for part 5 of this series on creating range in your next round of negotiations. All five of these elements work together in ensuring masterful negotiation outcomes. Look for future articles regarding the other three elements to broaden your negotiations skills. Use all of the negotiation tools and you will be much more successful in getting what you want in negotiations (while ensuring other parties are happy too). For more information about negotiations skills or negotiations training courses please visit https://boldnewdirections.com or www.negotiationstraininginstitute.com today.
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About The Author:
Jim Hornickel is co-founder of Bold New Directions, a transformational learning company that works with companies to transform people and performance through training solutions including seminars, webinars, coaching and keynote events. Bold New Directions specializes in training solutions that build leadership skills, communication skills and resilience at work. Jim leads dynamic workshops that help professionals grow their negotiation skills. You can learn more about Jim Hornickel and the topic of Negotiations Training at Bold New Directions by visiting the company web site at www.boldnewdirections.com or at our negotiations training site www.negotiationstraininginstitute.com