Why It's a Mistake to Offer to Split the Difference |
In this country, we have a tremendous sense of fair play. Our sense of fair play dictates to us that if both sides give equally, then that's fair. If Fred puts his home up for sale at $200,000, Susan makes an offer at $190,000, and both Fred and Susan are eager to compromise, both of them tend to be thinking, "If we settled at $195,000 that would be fair, because we both gave equally." Maybe it's fair and maybe it isn't. It depends on the opening negotiating positions that Fred and Susan took. If the house is really worth $190,000 and Fred was holding to his over-inflated price only to take advantage of Susan having falling in love with his house, then it's not fair. If the house is worth $200,000 and Susan is willing to pay that, but is taking advantage of Fred's financial problems, then it isn't fair. So, don't fall into the trap of thinking that splitting the difference is the fair thing to do when you can't resolve a difference in price with the other side.
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