• Be specific. State the exact price rather than ....well, it will be about….
• Maintain eye contact. It makes you look confident.
• Ensure the tone of your voice is confident and your body language is also confident and relaxed.
• Use silence. Once you have stated your price, stop talking and wait for the other side to speak.
• Give them time to think.
• Deal with price objections and defend your price, but don’t over argue your case.
• Close down your body language.
• Focus on price and benefit differences.
• Begin the bargaining phase.
The Closing Stages
The closing stages of any negotiation are vital to the overall success of the final deal. There will come a time when both parties can sense an outcome is possible, and each negotiator needs to be careful not to be too eager to close or else the other party will be tempted to hold back for further concessions.
The best solution to aim for always, is one where both parties feel they have done well despite having to concede on certain issues. This is called a “win-win” solution. Once either side feels they have arrived at the final deal, it is important to signal this to the other party.
A Final Word Of Caution
The closing stages need to be approached with caution. It has been shown that the majority of concessions are given or traded in the last 5% of the time allocated for negotiation. That means if you negotiate for one hour, the last three minutes are when you are most vulnerable.