So how do you know when bargaining is over and it’s time to move to the closing phase? Ask yourself, do you truly think the other party will say yes? If you’re not sure, keep bargaining. You may want to summarize your last counter offer, or ask the other party for more details on their last offer.
Body language can be your biggest key. If your opponent has open body language (arms at their sides, not covering their face, looking at you, and leaning towards you) then this likely means they’re receptive to your position. If their body language looks defensive (with arms and legs crossed, a hand on their face, and leaning away from you), keep reiterating your points until their posture becomes more open.
When the time is right, follow this simple procedure.
- Suggest or assume action
- Summarize the deal
- Stop talking
Let’s say you’re negotiating to buy a house. You feel that the seller is ready to close. You might say something like, “I’ll call the bank to get the mortgage details finalized. Would you sign the offer papers on this line? I’m agreeing to purchase your property for R100,000, and we’ve agreed that the transfer taxes will be paid by you.”
Here, we are assuming action, suggesting an action, and summarizing the deal.
Don’t ever beg, plead, bully, or give your opponent time to think the deal over. They will take advantage of that time, come back with a new position or a counter offer, and you’ll be back to bargaining.
Also, don’t raise additional questions or points during your closing procedure – this returns you to the bargaining process. (Of course, if it turns out that you’re trying to close prematurely, this will be inevitable.)
