How to Buy - Six Good Negotiating Tips
Everyone has endeavored to optimize the opportunity to buy cars, boats, homes, appliances almost anything directly from owners. When dealing in the resale market don't forget to negotiate.
We live in a fast paced, got-to-have-it-now world. Unfortunately this environment is good for sellers and bad for shoppers. In a high pressure environment the time and patience required in any negotiation is often considered too burdensome to do properly. So the shopper settles for making the seller happy.
There is no reason to forego go proven negotiating tactics in the interest of immediate gratification. There are few things so precious that failing to get one today diminishes the value of getting it tomorrow. To learn how to buy almost anything, develop these six good negotiating habits.
The First How to Buy Tip: Define your objective. Never discuss price until you are sure it is the item you want. Price does not make the item any more useful or beneficial to you. It may make it appear attractive but that allure will fade when you find a better widget tomorrow or the next day.
The Second How to Buy Tip: Manage your time. The purpose of negotiating is to get the item for the best possible price within a reasonable length of time. Time is a valuable commodity and you don't want to spend too much time negotiating for a $1.00 item when there is a $100.00 item around the bend that you really want.
The Third How to Buy Tip: Don't go first. Before offering a price ask the other person what his or her best price is. There are times when they will drop their price below what you are about to offer. It is a standard negotiating tactic to get the other person to make the first offer so you can adjust your offer accordingly.
The Fourth How to Buy Tip: Be prepared to negotiate. Make sure you know what the 'widget' would cost elsewhere before making an offer. Preparing for your shopping spree should include some due diligence before leaving home so you are prepared to recognize a good deal when you come across it.
The Fifth How to Buy Tip: Don't forget the terms. The terms of a deal can make the price more or less attractive. Make sure you factor in the financial impact of the terms before settling on the final price.
The Sixth How to Buy Tip: Be Observant. Be aware of the other person's response to the negotiation. There is a time to bring the negotiation to a close just before they decide not to sell. Don't let the discussion drag on as the other person may lose interest or patience. Over negotiating can kill a deal that should have been made.
These how to buy tips are routine negotiating tactics that can be applied in almost any venue. They obviously are valuable when buying a used car, negotiating for a boat, purchasing a time-share or condo, or making any significant purchase. The trade-off is time. The larger the purchase the more time you may want to spend on the negotiations.