Bargaining refers to the process of negotiating for better prices, terms, working conditions, or other benefits between two or more parties, typically involving a give-and-take approach.
The phrase 'get down to brass tacks' implies breaking off preliminaries and proceeding directly to the essential matters.
A buyer's broker in real estate brokerage represents the buyer's interests explicitly, locating appropriate properties, assisting in making offers, and negotiating contracts. The buyer may or may not pay a fee for these services.
The Coase Theorem posits that markets can resolve externalities without government intervention if parties can negotiate costlessly.
A counteroffer is the rejection of an original offer to buy or sell along with a simultaneous substitute offer. They are commonly encountered in various transactions, particularly in real estate, where factors other than price might be negotiated.
Petty bargaining often involving back-and-forth negotiation over minor details. Commonly used in contexts such as markets, street vendors, or small-scale business dealings.
Diplomacy involves conducting negotiations, establishing relationships, and managing international relations with tact and subtlety. It plays a critical role in fostering good rapport and avoiding conflicts between states, organizations, or individuals.
In accounting, an endorsement refers to the act of signing the back of a negotiable instrument, such as a check, to transfer ownership or authorize payment.
A firm quote is a specific type of bid or offer price for a security, typically stated by a market maker, that is binding and not identified as nominal or subject to further negotiation or review.
A go-between acts as an intermediary between two people or groups, facilitating communication, negotiation, or transactions to ensure smooth handling of particulars in the relationship. The go-between often has a vested interest in the process.
Human relations skills are management skills that facilitate effective interactions with personnel. These skills include leadership, communication, decision-making, negotiation, counseling, and conceptual skills.
Individual bargaining refers to negotiations between a single employee and their employer, often giving the employer greater strength compared to collective bargaining where the employer negotiates with a group of employees.
Industrial relations encompass the dealings and interactions of a company with its employees, labor unions, and governmental institutions, with a focus on promoting partnership, cooperation, and negotiated conflict resolution.
A low-ball offer is a significantly lower bid than the listing price, often suggesting that the buyer believes the property is overvalued or is seeking a bargain deal.
Mediation is a voluntary and structured process whereby a neutral third party helps disputing parties to communicate and negotiate to reach a mutually acceptable resolution.
Negotiation is the process of bargaining that precedes an agreement between parties. It often results in a contract and can involve various stages and techniques to reach a mutually beneficial outcome.
Renegotiation is the process of legally revising the terms of a contract to better suit the needs of the involved parties due to changing circumstances or the realization that original terms are no longer applicable or fair.
Representation involves professional assistance or fiduciary advocacy in a transaction or negotiation, ensuring that the interests of a party are effectively promoted and protected.
The highest price a buyer can pay and still achieve their primary objectives, such as keeping monthly payments affordable or paying no more than the market value for the property.
In planning and budgeting, strategic misrepresentation involves knowingly understating costs and overstating benefits to secure project approval. Distinct from optimism bias, it is a deliberate policy often justified as part of the negotiation process.
The phrase 'talk turkey' means to get serious and focus on the real business or important matters at hand. It often implies a straightforward and direct conversation.
