At Alacrity Collections Corporation, we work hard to successfully negotiate with debtors and recover as much as possible for our clients. That also means that we are skilled in negotiating almost anywhere, from the flea market to the board room. While we could keep the tips we’ve learned over the years to ourselves, we will be sharing some of our most helpful negotiation tips in this blog to help you!
Negotiation Tips You Can Use Anywhere from Conversations with a Potential Customer to the Car Dealership
- Ask the Right Person: Have you ever spent time negotiating with the wrong person only to waste your efforts and realize you are barking up the wrong tree? One of our biggest negotiation tips is to find the decision maker and stakeholder who has the power to make a decision. Can the person selling you a car actually give you a discount on the purchase price? Is the person you are talking to about the balance on the account able to negotiate the amount owed and write a check at the end of the conversation?
Always find out the position of the person you are speaking to and, if they are not authorized to make decisions on the subject of the negotiation, ask to speak with someone who can.
- Start With What You Want: A common mistake that many people make during debt collection or in any negotiation situation is not asking for what they want. Demand payment in full on your first interaction with a person with a delinquent account. Start with the price that you want to pay for an item.
When you start the conversation by asking what the debtor can pay, what amount of discount the retailer could give you or what percent raise you could be given, you are allowing the other party to take over the negotiation. Instead, state what you would like to happen and go from there. In many negotiation situations, the other party will not immediately agree. However, in the best-case scenario, they will, and in the worst-case scenario the other party will know your expectations at the start of the conversation.
- Be Reasonable: Finally, even though you should state what you want, you should always be reasonable when negotiating. If you are calling to collect on unpaid balances, find out why the payments have not been made and use that information to create a solution that works for both parties. For example, if they cannot pay the balance in full like you would prefer, why demand that they pay in one lump sum? A payment plan could get you the full balance that you desire and allow the debtor to avoid further action being taken.
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Alacrity Collections is proud to be a leader in debt collections. We achieve great results that are over twice the national average and treat all of our customers with dignity and respect, on social media and offline. We work tirelessly to protect your brand and improve your net returns. To learn more about our services and get in touch, please call us at 1-800-752-9663 or email us at email@example.com.
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