{"id":814,"date":"2017-02-07T06:07:53","date_gmt":"2017-02-07T06:07:53","guid":{"rendered":"https:\/\/nationalland.com\/blog\/?p=814"},"modified":"2023-03-29T14:25:24","modified_gmt":"2023-03-29T18:25:24","slug":"understanding-concessions-in-negotiation","status":"publish","type":"post","link":"https:\/\/nationalland.com\/blog\/understanding-concessions-in-negotiation\/","title":{"rendered":"Negotiation Techniques: Making Concessions"},"content":{"rendered":"

When people negotiate, concessions are made. When the negotiating parties agree on the concessions presented, a compromise has been reached. A good understanding of how negotiations work is imperative for a Land Professional looking to get more listings.<\/a><\/p>\n

Concessions are determined when the negotiators respond back and forth with one another, reciprocity. To learn why reciprocity is triggered by concessions, we must look at the scenario subjectively from the negotiator’s perspective. When doing so, we learn the first reason, self-interest.<\/p>\n

Combining the theory of rationality with the negotiation theory, we learn that people want to win, but also understand there is more to lose by not working with the other party. It is because of this, concessions are made.<\/p>\n

After concessions are made, we evaluate them by comparing them to what we have given up and what is left to on the table to gain. The renunciation strategy clarifies how negotiators try to improve their position by giving things up.<\/p>\n

Morally, when one person gives something up, the other person feels the need to reciprocate fairly. This is the second reason, moral and social obligations. When reciprocating, each party\u2019s concession is most commonly fair due to the negotiator\u2019s social obligation of giving as you have been given. In other words, the concession does not have to be the same weight, but it should be of comparable value. The other side to the reciprocation is acceptance. In addition to the comparable value, people feel as though rejecting a gift can offend the other party; there is a social obligation to accept a gift when presented.<\/p>\n

\"Income
Income Producing Investment Tract listed by Cailein in Brunswick Co, NC<\/figcaption><\/figure>\n

Concessions are good for advancing towards an agreement, but also bettering the relationship. Many industries require good relationships to be successful. When the other party reciprocates, we learn about their preferences which gives us information as to what they value. Concessions also help build the relationship for future endeavors, and perhaps, future negotiations. Concessions, compromises, and reciprocity are not just beneficial to negotiators but are crucial for any negotiation to be successful. These tools are something that many negotiators use but may have never thought as to why. Perhaps, it has just been the natural way to negotiate. Learning the reasons why people make concessions and what their expectations are, can most certainly advance the negotiating party\u2019s outcome.<\/p>\n

Further, understanding how concessions work makes the negotiator understand the consequences of each decision. Negotiation incorporates the willingness of negotiators\u2019 reciprocity with a foundational understanding of concessions and compromises. Any person who wishes to advance their negotiating skills can do so by learning the art of concession and understanding not just the position of the other party, but the other party\u2019s interest. This information can be used to their benefit and perhaps aid in deciding the next concession to win the deal.<\/p>\n","protected":false},"excerpt":{"rendered":"

When people negotiate, concessions are made. When the negotiating parties agree on the concessions presented, a compromise has been reached. A good understanding of how negotiations work is imperative for a Land Professional looking to get more listings. Concessions are determined when the negotiators respond back and forth with one another, reciprocity. To learn why … <\/p>\n

Continue reading “Negotiation Techniques: Making Concessions”<\/span><\/a><\/p>\n","protected":false},"author":17,"featured_media":6067,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[13,11],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"\nNegotiation Techniques: Making Concessions - National Land Realty News<\/title>\n<meta name=\"description\" content=\"Understanding how concessions work helps a negotiator understand the consequences of each decision and can help them seal more deals!\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalland.com\/blog\/understanding-concessions-in-negotiation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Negotiation Techniques: Making Concessions - 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