Status and Concerns
The first thing many think about is money when negotiating a contract. It’s not always the case since it’s not all about the money when negotiating. Both parties are supposed to know the concerns to make a good deal. If the negotiation is all about money, don’t make unrealistic demands, which can cancel the agreement. Offer a negotiation that is considerable to the client. Other concerns are placement, time, and injury indemnification, which are part of a discussion during the talks. A player is supposed to know what his status is and concern.
Explore the other Side
All agents know that they shouldn’t make the first offer. Unfortunately, this doesn’t happen in most cases as players wait for the agents to approach them. Both parties should find out the bargaining style, strategies, and disposition for getting a contract done. This way, one of them will present the first proposal.
Mutual or Driven Strategy
Negotiating can be of two types: mutual or driven. Understanding each other is beneficial in making a mutual agreement, which leads to a good contract that favors both parties. Maintaining a good relationship is necessary because they might have to work together later on.
Listen and Answer, But Don’t Meddle.
The most important thing in negotiating a contract is always to listen to the other party’s situation and concerns and use the irrelevant points against them. It helps understand the party better and thus make a good deal. Repeating the interests of the party will ensure that they listen. However, always wait for the other party to finish talking and then make a comment.
It’s important to have the contract in writing, even if there is mutual trust between the parties. One can never know when it will be useful. A written agreement goes a long way; differences might arise in the long run.
Negotiating a contract is important as it lays out the parties’ terms and conditions. Like in other deals, negotiating contracts in sport must be treated seriously. Never make an oral agreement; put it down on paper.