Mea Culpa. I’ve espoused the following principle for years but, on occasion, forget it myself, though less and less often. So, if nothing more than as an invitation to any reader who might be on the other side of a deal from me to remind me about it and to smack me back on track, here it goes.
Let’s say that you can make a list of your comments to a document, whether it be a loan document, a lease, a purchase contract or any other kind for that matter. Also, let’s say that you can rank your comments from number “1,” the most important one, to number “100,” the least important one. OK, don’t attack me just yet, go with the assumptions because if you can’t exactly rank them, you certainly know the difference between number “1” and number “10,” etc.
Now, negotiate vigorously – resolve, by compromise or otherwise, items numbered “1” through “95,” leaving only “96” through “100.” Pat yourself on the back! Pat your negotiating opposite on the back!
Now, the punchline. Not the humorous one, but the real one to think about. [A punch line (or punchline) is the final part of a joke, comedy sketch, or profound statement, usually the word, sentence or exchange of sentences which is intended to be funny or to provoke laughter or thought from listeners. – source, Wikipedia]
Do you renumber numbers “96” through “100” into “1” through “5” and start fighting again? Come on, admit it – of course you do. Maybe not “1” through “5,” but how about “4” through “9.”
Here’s what I figured out – items “96” through “100” are still items “96” through “100.” I’ve been trying to internalize that for years and am often, but not always successful. When negotiating on behalf of someone else, I need to share that thought with them because, if I don’t, then I have no choice but to make those items “1” through “5” because the deal isn’t mine; it is theirs.
That’s it for today – probably a record for this Ruminator – a short Blog entry.
Does this make sense? Do you have any negotiating pitfall-advice to share? If you do (and I know you do), please add them at www.retailrealestatelaw.com.