I admit, I used to be a little shy when it came to bargaining. Looking back, I wonder what I was so afraid of?! It doesn’t hurt to, just ask. I have learned that the key to getting better bargains is to NEGOTIATE! You’d be surprised how many people are ready to communicate in order to make a sale.
These “Lucky Seven” rules, taken from Dave Ramsey’s “Complete Guide to Money,” can get you some amazing deals when you actually put them into practice!
1. Always tell the Truth: In Thomas Stanley’s study of millionaires, titled “The Millionaire Mind,” the single most common characteristic among the wealthiest people is Integrity. Nobody wants to close a deal with someone you know is not telling the complete truth!
2. Use the Power of Cash: Cash is emotional. It triggers a response in people and having a fistful of bills catches the eye of the person you’re dealing with. Cash also shows the seller that this deal could happen immediately. You have the item and the seller has the cash immediately.
3. Use the “walk away” power: Sellers will get you so emotionally tied to the product that it will be hard to back out. Do not get married to the purchase before you buy it because the Seller can sense that you will pay full price. If you say “that price is just not good enough” and walk away, most of the time they will follow you to the door yelling out a lower price!
4. Don’t Talk Too Much! This one might be too hard for many, but seriously, make the seller work for it. Silence is powerful, and most people can’t stand sitting in awkward silence. Try it! You can acknowledge the salesperson’s exist and not appear like a total jerk. Just look at the item and remain in silence. Walk around the vehicle, and chose to not say anything. Watch them talk the price down themselves!
5. “That’s Not Good Enough!” Most people don’t like conflict, so this phrase can make a huge difference when working out a deal. When the person gives you the price, just look him or her in the eye and only say, “That’s not good enough.” Let the back and forth negotiation begin!
6. Good guy, Bad guy. I like this one. I’m sure most of you have been in the position where a salesperson goes to “check with the manager”. Then they come back and say, “Well, he really didn’t budge.” Chances are, the manager wasn’t even there and they will still accept a lower price. The key is for you, the buyer, not to settle!
7. “If I” wake-away technique. You never know what you can get out of this one! When you are sure the price is as low as it can go, that’s when you add, “Okay, if I purchase the home at this price, then you can throw in the boat that is sitting in the front yard.” Agree with a price and then throw something else into the deal. If they won’t do it, then say, “Okay, if you keep the boat, you’ll have to throw in something else or we’ll have to come down on the price.” Act as though you already have the extra item and if they don’t agree or take it out of the deal, then the price must come down!
Miss Jenny Lee 