Rockdoc''s Secrets to Negotiating Price
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I started this new posting as there''s probably a lot of interest about negotiating prices.
Negotiation with anyone selling any is sometimes like a game of "chicken". It''s always a mystery whether the seller will cave in or if he''ll hang tough.
One of the first questions you want to ask yourself is how easy would you give up 10,20,30 or more percent of your paycheck if your boss told you he wanted to negotiate the amount he paid you each week?
It depends on how well you PLAY the game.
Some people are weak and back right down, rather than being assertive. This happens on both sides of the table.
It also depends on the knowledge of sales techiniques. If you''re not thoroughly versed in sales techiniques, then you need to get some books about it first.
Remember you''re dealing with people that are selling. Do you think they are ready to answer price negotiation questions?
Many retailers, intentionally mark higher price tags anticipating the need to negotiate with the buyer to make a sale.
Others don''t.
Negotiation with a skiled sales person, can be "DEADLY".
Once the conusmer gets to negotiating PRICES, the sales person stops selling the product. He doesn''t have to. You''ve boxed yourself in by attempting to negotiate.
The professional sales person, especially in some jewelry stores, are far more knowledgealbe about how to manipulate you to buy than knowing about diamonds or the product.
A sample of quickly you can get trapped is, by the seller asking you a "closing question"
You say "can you make the price better"?
he says... If I do will you buy it now?
If you say no... then you can expect two answers....
well come back when you are ready and I''ll really make you the best deal.
( In other words go shop and but just before you''re ready come back and then, you''re baited on his hook)
the second approach is like the jabroni thread..
They make the reduction conditional on you buying at that moment, and then you get what is called a "low ball". This done when the sales person knows you aren''t going to buy, but figures the only way he will get you back in is to give you a price so low, that no one else will come close.
If he''s wrong, and you say ok, then he smiles and makes an excuse, such as .. I''m willing to sell it to you at that price like I said, but since it so low, i have to get the boss to approve it." Of course the boss never approves the low ball, but once they know you WILL buy at some price, its just a matter of "weaseling" you until they get there.
Another slick method is the "bait and switch close". They infer they will take that price,but then they try to switch you to cheaper item, saying they can''t meet the price on the one you want. Taking the item a consumer wants away, can be a very effective close technique by a skilled sales pro. THey know just how to do it.
but there are also some out there that are just plain dishonest and deceptive and will show you really nice goods, negotiate with you, then subsitute a lower quality item.
This isn''t the norm for most retailers, but this can happen in places where there is really fierce competition like the place in the Jabroni thread.
Consider the amount of the reduction. Does it make sense? If someone comes down 30% immediately.... ask yourself, "would I give up 30% of my paycheck as easily?
Assume any reduction is like taking money out of the person''s pocket. WHY > Cause it is.
If a seller has priced the item fairly and competitively, there isn''t much he can afford to give back.. but there may be some.
A lot of factors go into a business sales manager''s or owner''s decision to "take less".
Is he short of cash to pay bills?
Was it a bad sales day?
Can he replace the merchandise for less than he is getting from you?
How long was it in stock?
So what do you do? How DO you negotiate SUCCESSFULLY in your favor.
The secret is KNOWLEDGE.
If you were buying a home, you wouldn''t committ to a price until it was inspected for defects, and very likely appraised.
If you aren''t knowledgeable about the item, then you have to make the negotiation CONDITIONAL. Don''t make it final... that is a big trap!
Tke key to successful negotiation is to know enough about the item, that you are SURE that you want it, and its the right item for you. DON''T SETTLE for an excuse for what you want.
Until you know everything about it, don''t get trapped in negotiation, You''ll always lose.
How do you convince a seller to negotiate the price?
By negotiating from a POSITION OF STRENGTH and FACT.
If you can give solid reasons that are factual as to why the price should be reduced, many sellers will agree.
Use an expert to provide the information if you don''t know it, or cant evaluate stones reliably. The money spent verifying the quality and making sure the stone is what you want, isn''t a cost, its a genuine protection of surety.
A competent appraiser can provide comps where you can see the range of prices that goods of the type you want are sold for. If the price is at the high end, then you have good factual basis for asking AND GETTING a discount.
Once you have the information and confirmations you need to make a prudent buying decision, then its time to negotitate.
People who sell, KNOW many shoppers can not resists what they THINK is a bargain.. and that is how thousands of consumers overpay every day.
One of the biggest traps of course is the deceptive use of a Rapaport sheet, or the deceptive claim that the seller either is a Wholesaler, or sells to the public at the real wholesale prices.
Those who flaunt "Below Wholesale" claims are good signs of a scammer.
Succesful Negotiation takes Power...
Power to negotiate comes from FACTUAL KNOWLEDGE.
hope this helps,,, but it you''re still unsure buy a book on how to sell, it will expose the tricks and secrets of the art of negotiating.
The best way to avoid getting your neck in the "close noose" is to not to be led into price negotiation by the seller. Don''t negotiate until you''re ABSOLUTELY POSITIVE you have the item you sincerely want. Until then, its best to just say as little as possible... let the salesperson play all his cards, while you retain your trump plays till the aboe end.
Deal with strength - the slightest sign of weakness to a sales person is like bait for a shark.
Copyright 2004 Consumers Gem Lab/ Accurate Associates Rockdoc All Rights Reserved
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