In virtually all negotiations both sides make concessions. While we won't, in this discussion, concern ourselves with the amount of our concessions, we do need to talk about the speed of our concessions.
The speed strategy worthy of serious consideration (and adoption) is simply - concede slowly.
The reasons for doing so are most compelling.
• First, quick concessions send a message that there are many more coming. There may be more, but tipping our hand to that possibility works against our best effort. Slowing down hints of the opposite - that there might not be many or any concessions left.
• Second, the more slowly one concedes the more value our opponent will likely attach to that concession. The extra time in anticipation of a concession tends to force an opponent to over analyze the concession itself. That slow pace can prompt an opponent to rethink their position too.
• Third, slow concessions add another benefit, namely the "Power of Investment". That power source stems from the fact that the more time we can force an opponent to invest in a negotiation, the more likely they will make a concession. It is somewhat irrational, but it's true.
So the next time you're into bargaining, don't be too quick in offering a concession. The winner of this battle is not the fastest, but the slowest.
So take your time as you KEEP Negotiating.
Author:Erin Bishop Phone: 717-873-8767 Dated: June 7th 2019 Views: 254 About Erin: Erin is the Sales Director for Space and Company as well as a licensed real estate agent and experie...
I have 14 years’ experience in residential and commercial properties throughout the Philadelphia area and inner ring suburbs. In my former life, I practiced law in Philadelphia in the areas of Premises and Products Liability, which translated beautifully into having a deep understanding of how houses “work” and Contract Law, not to mention being in the midst of my second personal renovation.
I live with my family in Germantown in a Queen Anne and previously lived in Fishtown until 2011. I am originally a native of Rochester, NY (go Wegmans!) and attended undergrad at Eugene Lang in New York City and University of Rochester, where I received a BA in Political Science in 1998. I attended Law School at State Universit y of New York at Buffalo School of Law where I received a Juris Doctor in 2003 and became a member of the PA Bar as well in 2003. I practiced in Philly for 2 1/2 years before making the leap to real estate, my true love.
I am a dog fanatic with a beautiful Husky/Collie (I’d guess?) mix at home…I can most likely find you a rescue dog too if you’d like one for your home! I am a sucker for old homes with original details, Back staircases, stained glass but love elements of most periods of design.
When I’m not selling houses, I can most often be found hanging out with my two young daughters at all the kid hot spots in town.
2014 & 2018 Space & Company Leadership Award
2017 and 2012 Space & Company Top Producer Transactions Award
2017 Space & Company Double Digit Sales Growth Award
2016 Best Realtor-Philadelphia Home Magazine
2013-2015 Five Star Real Estate Professional Award