If someone starts a negotiation with a very high or low price to try and set your mind, what is a smart way to get the talk back to a fair place?

When a negotiator begins with an extremely high or low price, they are employing a psychological tactic known as the anchoring effect. This means they are attempting to establish an initial reference point, or 'anchor,' in your mind, which then influences your perception of all subsequent offers and the plausible range for the final agreement. Their objective is to manipulate your perception of value towards their extreme position, making any later concessions they offer appear more substantial and reasonable than they actually are. This tactic aims to shift the perceived negotiation range in their favor. A smart way to regain control and guide the discussion back to a fair place involves several strategies. Firstly, avoid reacting emotionally or directly legitimizing their extreme anchor. Engaging with it as a valid starting point can inadvertently reinforce its influence. Instead, you should immediately re-anchor the negotiation with a credible and well-justified counter-offer or a realistic price range. This involves confidently stating your own desired price or value and providing the rationale behind....