74 How to Become a Better Negotiator

counteranchor will hold. Bargaining will then take place around

that point.
................................................
TIP: BACK UP YOUR ANCHOR WITH FACTS.

If you want your anchor—or counteranchor—to hold, be pre-

pared to justify it. For instance, in the condo counteranchor ex-
ample you might bring along the analysis you’ve done of
comparable condo properties and prices.
................................................

Think about your next negotiating experience. How could employ-

ing a price anchor work to your advantage?

What steps would you take to counter if the other side has already
placed an anchor?

Using Time to Advantage

Time is a valuable commodity and no less so in the business of
negotiating. If you are a seller with no compelling reason to sell
right away, time is your ally. For example, Helen has listed her dry
cleaning business for sale for $650,000. But since she doesn’t need
the money at the moment—and she’s not planning to retire soon—
she’s in no big rush. Time is on her side. ‘‘If I don’t get a buyer at
that price,’’ she tells her family, ‘‘I’ll just continue operating the
business, which pays me a good income. And the business becomes
more valuable over time.’’
But time can be your enemy. For example, John has listed his
house for sale at $350,000. Time is not on his side, as he signed a

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