23 Jan 2023

43

How to Negotiate Like a Pro: 10 Tips for Closing the Deal

Format: APA

Academic level: Master’s

Paper type: Coursework

Words: 432

Pages: 1

Downloads: 0

Negotiating is one way of resolving conflicts. However, sometimes negotiations can keep going on due to bargaining, haggling and swapping concessions making it difficult to close the deal ( Barry, Lewicki & Saunders, 2011) . In this regard, there is a need to develop some negotiation skills that can help in closing the deal without giving in. The negotiation skills needed for closing the deal include the ability to create an agreement template that ensures they memorize all critical aspects of a negotiated settlement ( Carrell & Heavrin, 2008). The agreement provides the framework for conducting and closing the agreement. Secondly, a person needs the skill to learn how to claim or retain value at the closing stage of a negotiation. This entails developing clear outcomes and the best case scenario in the deal without losing value.

A negotiator also needs to identify the causes for stalemate and the techniques that can help move past them. This includes determining factors that can affect the closing of the deal and come up with a formidable solution ( Barry, Lewicki & Saunders, 2011) . Another negotiation skill is to recognize bargaining traps and learn how to avoid or eliminate them. The other party may have a loophole in the agreement for bargaining and preventing the closing of the deal. Lastly, negotiators need to employ techniques that can build a relationship between parties after the negotiation ( Carrell & Heavrin, 2008) . This entails treating the other party with respect all the time since the relationship with the other party does not end after the talks. Use of empathy to understand and bridge differences can help.

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An agreement template is crucial during negotiation as it contains all critical elements of a valid agreement including the essential aspects of issues negotiated. This template gives a negotiator an opportunity to determine whether the contract is worthy of signing and possibilities of any problems in the future ( Carrell & Heavrin, 2008) . At the same time, it helps a negotiator avoid any last minute negotiations that can affect the signing of the contract. For example, it will contain deadlines for actions and any penalty when it is not met, and other consequences whenever the actions specified in the agreement are violated. The negotiator can also indicate the exit strategy in case of terminating the agreement ( Barry, Lewicki & Saunders, 2011). 

Many times, a contract is best when put in writing as it helps address most of the essentials, since the written agreement has all the details that are easy to understand. Setting the deal in writing ensures that both parties abide by it and creates a degree of formality to it. A written agreement eliminates any problems, and there will be an enforceable contract that is binding to both parties ( Carrell & Heavrin, 2008) . With a written agreement, all parties involved can feel confident and can use the document for future reference

References

Barry, B., Lewicki, R. J., & Saunders, D. M. (2011).  Essentials of negotiation . McGraw-Hill Higher Education. 

Carrell, M. R., & Heavrin, C. (2008).  Negotiating essentials: theory, skills, and practices . Prentice Hall. 

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StudyBounty. (2023, September 15). How to Negotiate Like a Pro: 10 Tips for Closing the Deal .
https://studybounty.com/how-to-negotiate-like-a-pro-10-tips-for-closing-the-deal-coursework

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