Here are the 16 Killer Negotiating Mistakes You Need to Avoid.

Negotiating the terms of an agreement or sale is part of a sales person's role. However, many sales people are not effective negotiators which means they end up making costly errors. These mistakes cost them money in top-line sales and bottom-line profits. Here are 16 fatal mistakes you need to avoid.

1. Believing that price is the primary reason why people make a buying decision. Although price is a factor in every sale, it is seldom the motivating factor behind a person's final decision.

2. Not asking enough high-value questions. I'm still amazed how few sales people take the time to ask great questions during the sales process. This makes it more difficult for them to effectively position their offering.

3. Not gathering the RIGHT information. While it is essential to ask questions, it is equally important to ask the right questions so you can negotiate more effectively.

4. Falling prey to the myth that ALL of your competitors are always cheaper. Someone, somewhere will always be able to sell a similar product for less. However, unless you are the absolute highest priced vendor in your marketplace, not all of your competitors will be cheaper.

5. Failing to establish the value of their product, service or solution. Value is in the eyes of the beholder so determine what is important to each buyer or customer and position your product or service accordingly.

6. Allowing their ego to get in the way. Negotiating is part of business but I have seen people walk away from a good deal because their ego got in the way and clouded their judgment.

7. Failing to remain objective during the sales and negotiating process.

8. Another mistake is to reveal any deadlines you working with. A tight deadline puts you under time pressure and a savvy person will use this grind out a better deal for themselves.

9. Making too many concessions without setting something in return. If the other person refuses to make concession, you are simply negotiating against yourself. Don't be afraid to ask for something in return for offering a concession.

10. Failing to plan. Failure to plan means planning to fail. Invest the time to plan your approach, the tactics you will use, the concessions you are prepared to make, and what information you still need to negotiate the best possible outcome.

11. Failing to determine a walk-away point. If you don't know when to walk away from a sale, you could end up losing money.

12. Unable to walk away. Too many sales people find themselves in the position of accepting an offer only to discover later that the deal actually cost them money. If the sale doesn't make good business sense be prepared to walk away from it, regardless of the time you have invested.

13. Making concessions too quickly. When you make people wait before you concede to something, you increase the value of that concession and you subconsciously tell them that if they keep asking for concessions, the negotiating process will take longer.

14. Failing to get a different perspective. I often talk to my business partner before making a final negotiating decision. This gives me a different perspective, and often, new ideas and strategies. Use your time out to review the deal with someone who is not attached to the outcome.

15. Not using a variety of tactics and strategies. Great negotiators are well versed and they know how and when to use specific tactics such as the Flinch, Trade-off Principle, Nibble, etc.

16. Talking too much. I have watched dozens of sales people negotiate with themselves because they talked too much. The best negotiators listen more than they talk.

There you have it. Sixteen fatal mistakes, blunders and gaffes that sales people make when they negotiate. Avoid these errors and you will improve your results, increase your top line sales and your bottom line profits.