There are certain places where you’re almost expected to negotiate. No one goes into a car dealership expecting to pay the sticker price. Places like flea markets and rummage sales actually price things with the idea of negotiating built-in. But did you know you can negotiate a lower price on almost anything?
Read on to find out how.
Figure Out the Details
When doing your homework, ask these four questions:
1) What’s the usual asking price?
2) Why is this person selling?
3) What is the seller cost?
4) What are other people selling this for?
When you want to negotiate, having this kind of knowledge is power. Here’s where you find the vulnerabilities and figure out just how hard you can push.
Make Them Speak First
When you’re ready to negotiate, don’t say anything until you get their asking price. It might be the figure in your head is higher than the number in theirs. Once you have this number, you now have something to work with as you make your counteroffer.
Bid Low…REALLY Low
Don’t look for the middle ground when making your counteroffer. Go much lower than you think you want to pay. The natural inclination is for the next person to make an offer by deciding a number between the two offered. By calculating this carefully, you’ll wind up paying either what you were hoping for, or if you’re fortunate, even less than you’d initially thought you would.
Figure Out the Limits
Did you do your homework? If so, you probably already have an idea on just how low the other person can go. They typically can’t drop below cost, no matter what.
Shut Up
Consider using silence as a negotiation tool. When you don’t respond immediately to their offer, the other person will generally get a little nervous. They might start talking to fill up space. They also might begin making concessions.
Add Some Add-Ons
Still not happy with the final price? See what else they can throw in for free to sweeten the deal. You’ll be amazed at the extras you can pick up.
Leave
No one wants to lose a sale. The moment you start heading for the door, the other person starts to worry. They might call you back to give you what you want after all. Use caution, however, as you have to mean it when you leave. There’s no going back once you employ this tactic.
Overall, it’s not hard to get what you want from someone else, provided you’re willing to stand your ground and play a little hardball. Keep in mind, though, this kind of negotiation should also be fun. Looking at things as a game will help you to keep your perspective and not take it personally if things don’t wind up going your way.
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