If you’ve ever wondered how to negotiate a better deal, today’s guest post from my Aussie friend Richard is just for you! Also, stay tuned at the bottom of the post, because we’re giving away an iPad mini! Oh yeah!
You should never be afraid to start small and negotiate your way to the top. You will only get a good deal when you ask. There are so many situations where great negotiating skills can come into play. Here’s a small sample: purchasing something, loans, contracts, pay raise or work request, wife or partner, kids, sports, issues or problems, etc.
Below are some tips and ideas to help you become a better negotiator and enjoy more favorable outcomes. Being a great negotiator also ensures that you don’t get taken advantage of and are getting a fair or the best deal in any type of circumstance.
Ask for a discount
If you have been buying from a business regularly, ask for a discount when you make your purchases. You will be surprised at how willing most managers are to help their customers as a way to retain them. They may be willing to offer you extra services to make shopping with them more enjoyable. You will not get extras if you don’t ask. They may offer promotional coupons and other goodies for your patronage. Ask and you shall receive. That’s the first law of negotiating.
Be Prepared to Walk Away
Customers are very important in any business. When you are attempting to purchase something and you have asked the seller if they would lower the price, be prepared to walk away if they don’t. More times than not, the seller is not going to let cash or good credit walk out of the door. After all, their job is to seal the deal and get you to complete your purchase. Try this the next time your negotiation efforts stall. You may be pleasantly surprised by the outcome. Also, there’s nothing wrong with shopping around and then coming back if things don’t work out.
Many businesses offer incentives for those that refer others. If you are looking for a better deal, bring a friend that is interesting in purchasing something from the same establishment. Their purchase may help you to get a discount on the item you are interested in. Ask the seller if they offer an incentive for a referral. You may even leave with a little extra cash.
Start Your Bidding Low
In the art of negotiation, it is sometimes important to start low, to reach your actual price point. If you are haggling over a price, start low. For example, if you are trying to purchase a vehicle and the owner says, the price is $8000, offer $6500 if your price point is really $7250. This way, he will feel that he got you to come closer to his price as the negotiations continue. You will smile as you walk away knowing that you paid the price you were intending to pay and not their price.
Essentially, there is always room to negotiate for a better deal. You can negotiate when you go to buy your home. Negotiate when you buy clothing and household items. If they say no, at least you will have tried. You will be amazed at how easy it is to get a better deal just because you asked.
Richard is a personal finance blogger who writes Simple Living Australia which helps low income earners better manage their money and stretch each dollar, getting more bang for their buck.
Do you have any negotiating tips to share with us? Which of the above tips has worked for you in the past?
Also, as promised, here are the details for our iPad mini 16GB giveaway. Congrats to Michelle on two years of blogging!
- If the winner of the iPad Mini prefers cash, then cash value for the iPad will be given instead.
- Paid via PayPal
- All entries in the Rafflecopter are optional
Second place – $150 cash
Third place – $100 cash
Photo Credit: FreeDigitalPhotos.net