Fair & Reasonable
Fair and Reasonable. That’s something you need to consider / determine when you are looking at your negotiation situation. Is it or is it not Fair and Reasonable? What does that mean exactly?
A Fair and Reasonable price, term or condition can be defined as one that a prudent businessperson would pay for an item or service under competitive market conditions, given a reasonable knowledge of the marketplace. Fair implies a proper balance of conflicting interests. Reasonable means not extreme or excessive. So a fair and reasonable price, term or condition is one that is balanced and somewhat moderate.
Rather than go into a big discussion about this, the best way to demonstrate this is with an example. Below you will find links to a blog post and a portion of my talk on a Landlord-Tenant dispute. The “Negotiation Situation” is a “Landlord-Tenant” dispute.
The blog post and video below describes this situation and how it was looked at as whether or not it is or is not Fair and Reasonable.
Having a Fair and Reasonable determination as your starting point will help you determine your position going forward and your outcome.
In the Think Like A Negotiator Home Study Course we will be going into this in great detail using this example and coaching you from start to finish on this negotiation. You will be able to use these step-by-step techniques to apply to simply and easily to any negotiation situation you may have.
See you next week!
Eldonna Lewis Fernandez, MSgt USAF Retired