Zone of possible agreement: a max and a min that you are willing to pay. Be willing to walk away if the price exceeds your zopa

Base this range off of comps in the area so that you can explain how you came up with your numbers. Make the first offer. Don’t wait for him to make an offer. Obviously try to be fair, but base your first offer off of the lower end of your ZOPA. If you are in the ballpark of fair, he may accept, but more likely, he will counter. Be willing to agree to small or incremental counters (as long as within your ZOPA), but agree to less and less (or in other words, give away less and less) in your counters if the back and forth continues. NEVER employ the “split the difference” or “meet me in the middle” approach unless it results in actual fair outcomes in terms of what you are giving away vs him.

Lastly, don’t be afraid of silence, and don’t allow your nervousness and lack of confidence to cause you to say something you shouldn’t. It may help to write down your ZOPA, and how you came up with it. It may also help to put yourself in the rancher’s shoes, and understand his best alternative to an agreement, and what his ZOPA might be. Try to find out what he bought the land for. Preparation is key.