Most salespeople are required to negotiate with their prospects and customers. But let's face it, today's consumer and corporate buyer is much more aggressive when negotiating the terms of a sale. Unfortunately, many salespeople lack the same level of sophistication when negotiating with savvy purchasers. Here are 18 fatal mistakes that salespeople often make when they negotiate.

1. Believing that price is the primary reason 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. 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.

3. Immediately offering a discount to close the deal. Remember, price is seldom the primary reason people make buying decision. Avoid the temptation to drop your price unless you have first considered other options.

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

5. Being overconfident when entering the negotiations. Get your ego out of the picture. I have seen some sales go sideways because the seller was overconfident in his or her approach.

6. Lack of confidence. This is usually a result of lack of negotiating skills, which is why it is important to practice negotiating as often as possible. It can also be caused when negotiating with someone who is perceived to have more power than you.

7. Being 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.

8. Talking too much. I have watched dozens of salespeople negotiate with themselves because they talked too much. The best negotiators listen more than they talk. It will also give you a chance to watch the other person's behaviour and body language. If the person looks down when asking for a discount, it indicates that he or she may be uncomfortable making that request.

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

10. Revealing any deadlines you're working with. A tight deadline puts you under time pressure and a good negotiator will use this to grind out a better deal for themselves.

11. Neglecting to negotiate with limited authority. Don't hesitate to tell a prospect that you need to check with your boss before you agree to a concession. This gives you wiggle room and allows you to appear that you are working on behalf of your customer.

12. 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.

13. Not taking a time out to think. Important decisions are sometimes made without proper thought; often in the heat of the moment or in order to get the deal done. Taking the time to think about the implications can save you money and add critical profit dollars to your bottom line. And 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.

14. Not using silence as a negotiating strategy. I saw this in action when my wife spoke to a client on the telephone. Instead of immediately responding to the person's request, she paused and remained silent. A few moments later, the client made a concession that added more money to the deal.

15. Not properly using written testimonials and endorsements. Assuming you have testimonials in place, I suggest arranging them into different categories so you can use the right testimonial at the right time.

16. Giving in too soon. People appreciate what they have to work for. If you give in too soon, people will think that something is wrong with the product or that you are desperate for the sale.

17. 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.

18. 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.

Avoid these errors and improve your results, your top-line sales and your bottom-line profits.