Negotiation is an art worth mastering because it is an integral part of our everyday life. Negotiation takes place while shopping, in business deals, during salary discussions in interviews, and in every other situation. Some people are able to negotiate more, and some are able to negotiate less amount. However, the idea is simple – the more you negotiate the more you save, or we can put it in a different sense by saying the more negotiation means more earnings. If you’re a bad negotiator, you lose the money that you can earn. To help you out negotiate more, we’ve listed below two pro negotiation hacks for you as a buyer –
- Find the cons and the faults – Pinpointing the faults and loopholes in what you’re buying allows you to make your arguments stronger before you proceed for negotiation. For example, if you’re buying a car, look for the faults in the car and pinpoint them. This will disallow him to justify his quoted price and he will not be able to take a stand on his quoted price. On the other hand, you would be successfully able to bring down the price by presenting some strong arguments. Make sure that you’ve already mentioned the faults in the product or service before you start discussing the price. If required, you can re-mention during the price discussion.
- Bring it to mid – Whenever you’re discussing the pricing, it could be pretty much confusing that how much amount you need to speak from your mouth as a buyer if you want it to buy at a certain price. This might seem confusing, but actually it’s not. Simply speak out double the difference amount of the quoted priced and the price desired to pay. Let’s understand it with an example. If you’re buying a used car that has a quoted price of 3,60,000, and you’re willing to buy that for 3,30,000 (difference of 30,000), bid that for 3,00,000 (difference of 60,000) you increase your price by 10,000 and the seller decrease it by 10,000. As the discussion goes on, the price is now likely to get closed at 3,30,000. This is a very effective technique that can be used almost everywhere, including the salary discussions (you don’t have to mention any faults there). The technique can also work for the seller. As being a one, you should always quote the price above the price you’re willing to sell at.