GREAT negotiating techniques from NPR: How a hostage negotiator buys a car & others

DROdio -

Here's a great 16 minute audio clip from NPR's Planet Money blog around negotiating techniques the pros use, including:

  • The "nibble": How a guy who got bumped from a flight got a $1,000 voucher, hotel room for the night, executive car service, first class ticket for the next day's flight, and dinner paid for
  • BATNA - the "best alternative to a negotiated agreement": How negotiation experts 'expand the pie' to generate additional value when negotiating
  • Disarming empathy: How a hostage negotiator who wanted to buy a car used a low initial offer (but not too low) and "disarming empathy" to get the car

Regarding point #3, buying a car:  The best car buying advice I've ever gotten is the "blast fax" approach, where you fax a number of dealers asking for their best price on a certain model before you visit any specific dealer (once you're in the dealership, you're in their turf).  Enjoy!