The thought of dealing can be overwhelming for some people but as consumers in a free market, we need to understand when we are being exploited so we can bargain and have the price lowered to a more just price. If you have the habit of paying without questioning, this is not for you. This is for people who get the vibe that the selling price is too high because they are more aware of the substitutes offered in the market.
Sometimes we think that there is no option and the buyer insists that the price is fixed. However everyone is always looking to make extra cash, don’t forget that! You can always negotiate for a lower price. We have compiled some stuff for you to help you get through this;
Do Your Homework
You need to know all about the product that you are buying. You should be aware of how much the competitor is charging so you can tell the seller that you are aware of the same item being sold for less. This makes them know that you are not bound to purchasing the item only from them. You can say no to the offer and know the margin between the seller’s costs and the price they are demanding. This comes in handy especially if you are purchasing a new car. You can ask for the invoice which the car dealers paid the manufacturer. This way you will be aware of its authenticity and know the true price.
Make the Other Side Name a Price First
By letting the seller tell what they are demanding, you can get the chance to counter their argument by putting out a lower number than what was offered initially. If you name your price at the start, this lets the seller know your expectations and he may raise it even further. So never get into this situation as the seller might probably have been willing to go even lesser than the amount you proposed.
Know the Limit
You need to find out or more like skim what is important to the seller through a small talk. If they keep something close to their heart and are demanding an amount you are not willing to pay, then walk away. In this situation, they are probably not going to change the price to make it any lower. In this case you will be unreasonable.
The best thing to do after the seller names their price is to be silent. This is also good for people who are not used to bargain. This can make two people be uncomfortable with each other but you can use that to your advantage. So instead of answering, you can pretend to be thinking about it without saying a word. This will make the seller fill the silence by maybe justifying the offer. The best thing to do is let them keep talking. And if you do need to speak, let out your hesitation about paying the demanded price.