Money saved is money earned! It is a well established fact. However, you are always surrounded by forces that want you to part away from some of your hard-earned money. ‘Sales’ is a mastered art and salesmen excel at the skill. It doesn’t matter what the salesman is selling or how much value the good or service holds. What matters the most is how to move money from your pocket to theirs.

It’s not that you don’t need to buy things you like. You do and you must buy anything you like. But buy it on your conditions and at the price you want to spend. That’s what this is all about!  

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Understand what you are buying

The first thing on the way to quality negotiation is research! Whether you need a new air-conditioner or a digital camera, the first thing you need to do is understand your needs. Conduct a research about the features that you need, so the seller cannot over-sell you. Compare the prices offered by various sellers along with the other services such as after-sales and warranty. You will be amazed how much it helps.

Be ready to give-up

This mostly works in an open market where lots of items are being sold. This is the tried and tested method and it has also started to work with unorthodox sellers, like bankers, insurance advisors and car salesmen. You must look ‘formidable’ and the seller must feel that you can give-up the item, if they don’t agree to your quoted price. Quote your price, start moving ahead, you’ll see the seller giving you a counter-offer. Stop, reiterate your offer and act like you would walk away again. In most cases, it works!

Never plead for making a low-offer

If you use words like ‘please’ in the midst of a price negotiation, it is seen as a weakness.

The seller would know that you have run out of reasons. Never say please! It is a shrewd-art and you need to master it. Rather than listening to their offer, you need to make an offer and stick to it.

There is always a lower price

In most cases, it may seem that the price being offered is the lowest price and the offer cannot go below it. However, it is not true. There is always a lower price and you must talk the seller into it. First, you need to sound serious and the seller must know that you are willing to buy the article or the service. You can say that you are willing to buy it but not at the mentioned price. The seller would sense your need and might offer you a better deal.

Negotiation is universal in nature and it is applicable everywhere. However, it requires a lot of practice. You can start with basic items like fruits, vegetables and grocery and you work your way up.

Here are some quick tips that can help you:

–        Never be in haste and maintain your composure. You’ll never make a sensible decision in haste.

–        Talk to the seller; try to get him to talk about prices. Listen first and let him finish. Do not interrupt! When he runs out of the offers, then share your final offer.

–        Try to break-down prices and quantities in your head. It is normal to see various sellers selling the same item in different quantities and prices. This is done to confuse the buyer. Never get confused and do the calculations right.

–        Never sound too interested. Sellers sense that quickly. If you are too clingy to an item, its price would go up.

–        Make a story! Tell the seller that you have seen the same item on a much lower price elsewhere. They will try to convince you that it is a better article. Do not fall for it and stick to your story and say that it is the exact same item.