In the US, negotiation is permitted and expected when purchasing a home, car, insurance, at swap meets/flea markets, on eCommerce sites, and other establishments. A home is a major expense and the final purchase is often based upon location, number of days on the market, supply and demand, size, number of bedrooms and bathrooms, condition, as well as other factors. The buyer will often come into the negotiation with a lower price and will barter back and forth with the seller to reach a mutually agreed upon price for the home. In some cases, a bidding war can ensue leading to the home price to increase and the final purchase price settling well above the original asking price. If once you complete your inspection and it reveals inherent issues with the home, don’t be afraid to re-negotiate the price or walk away from the deal if need be. Remember, once the inspection unearths issues with the home, legally this information must be made privy to all other potential buyers and may cause others to shy away from the home.
When purchasing a new automobile, the car salesman has many tricks up their sleeves to get the highest price for the car and make their commission. Several tactics a car salesman may use are dragging out the process, which makes you tired, irritable, and inevitably weakens you. A way to mitigate this is to indicate you are at the dealership only for a test drive and you will discuss numbers the following day. Cars salesmen are there to persuade you to purchase a car and will probe you about your situation, which can lead to divulging information that leaves you vulnerable. It’s very important you retain as much information as possible and provide only what is required. Car salesmen will pressure you by bringing up an impending event. He or she may say someone else has been looking at this car or the sale ends today.
To put the ball in your court, specify another dealership will have the car available. To try to close the deal the salesman will either ask you about what monthly payment you are willing to make to take the car, write on a piece of paper the pros and cons to purchase the car or not, or provide you with a choice of cars. A good car salesman will never ask you a closed-ended question, because they want to encourage you to draw upon your knowledge and feelings. Never act desperate or tell the car salesman you really need this car. Lastly, the finance manager will try to add additional services and/or protections you don’t necessarily need. Be firm and stick to your requirements and mission prior to entering the dealership.
Priceline, eBay, and swap meets/flea markets all have the same concept of bidding on an object and the transaction only occurs when the seller accepts. Insurance companies like Progressive have a name your own price tool, allowing you to cherry pick coverage. This allows customers to match their budget to their needs. This process does not guarantee the best quote or a low price, however, it gives consumers control over what they spend on car insurance. Be ware and do your due diligence when searching for the lowest price or the best deal.
Negotiating in the US is no different and is acceptable and encouraged around the world. In countries within Africa, Asia, and the Middle East haggling is allowed at open air markets. The key to haggling is to check online and see what others have paid for items within that region. There are some helpful sites, such as TripAdvisor, lonely planet, Quora, and many other sites with valuable information. The key is to obtain context from others who have traveled to the area and use the information as a guide. Locals at time may tell you a fair price for an item if you engage them. Pitting two sellers against one another with the same product is a way to negotiate. Don’t be shy come in with an aggressive price, if the seller doesn’t agree they will let you know. Ensure to be firm, but polite you never want to have an adverse interaction with a seller.
The Art of Negotiation is key to receiving a fair price. Goods are only as valuable as what people are willing to pay to procure it. Homework is key, you always want to know what a fair and equitable price, both the buyer and seller need to feel good about the sell. As a last resort, walk away, the seller will be willing to give you the best price and not loose an opportunity to make a sell. Be honest, if you make a counteroffer commit to the price don’t waste your time or the seller’s time if you have no intention of buying anything.
Shopping around for the best price can yield some great results. Share with me some of your great finds when booking hotel accommodations. Visit Ketour Travel’s website (https://ketourtravel.com) read the blogs and updates on current and future trips. Go to https://discover.ketourtravel.com/ to purchase airfare, hotel, transfers, activities and holiday packages. Do not forget to subscribe to the newsletter, follow Ketour on our YouTube channel, Facebook page, Twitter, Pinterest, and Instagram.