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4. Tell a Sob Story. "I like your sofa, but I don't have enough
money in my budget. I didn't plan to spend so much." This is not a lie.
You have a right to set your own budget. It is the seller's choice either
to meet that budget or to test your resolve by holding firm on price.
The Sob Story is your way of testing how much they want to make a sale.
5. Execute the Squeeze. "I like your hotel, but I can get a
better room rate elsewhere." This is also called the power of competition.
Many sellers will do somersaults in order to match or beat competitive
offers. Simply mentioning the competition will often lower the seller's
expectations.
6. Nibble a little. "If I buy this dress, will you throw in
a pair of shoes?" The seller may not be able to discount the dress,
but they can sweeten the deal by throwing in other items for free or
at a reduced cost.
7. Buy in quantity. "What discount will you give me if I buy
three suits instead of just one?" Most sellers are accustomed to giving
quantity discounts. If you can, get your friend to buy a couple of suits
at the same time.
8. Don't limit your bargaining to price. Deals can also be made
for non-price items such as better terms (a discount for paying cash;
postponed billing), waiving the delivery charge, and warranty (including
the extended warranty in the purchase price).
9. Be patient and persistent. If they say no, don't give up.
Sometimes the best deal will come only after you have devoted some time
to the quest, which convinces the buyer that you are serious. A friend
of mine spends four hours or more when he buys a new car. He wears them
down.
10. Be prepared to walk away. I call this Brodow's Law:
Your willingness to walk out and either buy somewhere else or buy an
alternative product is your greatest asset in any bargaining situation.
You must behave as though you don't need to buy it. Many great deals
occur when you return the second or third time.
Copyright © 2003 Ed Brodow Seminars, Inc.
Copyright © 2003, The Negotiator Magazine