Hire an expert

Disciplines > Negotiation > Negotiation tactics > Hire an expert

Description | Example | Discussion | See also

Description

If the stakes are high, do not try to do it all yourself. Get in the professionals.

Hire a subject expert to give you advice on the substance of the deal.

Hire an expert negotiator to do the actual deal.

Discuss things with them beforehand so they know what you really want. Also take breaks during the negotiation to confer with them about what you might be really getting and the costs and real value involved.

Example

I am buying a second-hand car, so take along a mechanic to thoroughly examine the car before I start negotiating and also to give advice on such as cost of repairs.

An entrepreneur is selling her company. She hires a professional negotiator to do the negotiation and a lawyer to check details of the contract.

Before selling an antique, I talk to an auctioneer friend.

Discussion

Experts are not usually cheap. You can expect to pay top prices for a top-class expert in the field.

The basic reason for hiring an expert is that, although they are expensive, they will save or make you much more money than they cost, or at very least reduce the risk of being deceived.

Negotiators will often take a percentage of the sale price that they get for you (or, if buying, a cut of what they save). Remember that a good negotiator will also negotiate with you for their percentage!