Bargaining Techniques

Bargaining techniques are strategies used during negotiations to reach an agreement that satisfies both parties. Key techniques include preparation, where one researches and understands their needs and those of the other party; making the first offer to set a reference point; and using silence to prompt the other party to respond. Active listening and building rapport can help establish trust, while being flexible and creative can lead to mutually beneficial solutions. Effective bargaining also involves knowing when to compromise and recognizing when to stand firm on important issues.