I’ve found that the technique I use at a garage sale to get a good deal, can apply to any purchase, even as big as a house. Here are 7 steps in the art:
1) Build a relationship with the seller. A little humor while shopping goes a long way. It’s hard for them to say no, once you’ve got ’em laughing.
2) Make a reasonable offer based on what you know you can pay. (Offering $1 on an item priced $20 is insulting and will probably breed ill will.)
3) Keep your poker face on, and by all means don’t start drooling.
4) Decide what you can live without before you negotiate. (You don’t need the seat warmers or the over-the-top chandelier.)
5) Ask for them to give you their “best price.”
6) Immediately say that you were thinking less, but “want to negotiate a compromise.” Name your much lower price.
7) Meet in the middle -markedly lower than their initial price- or be prepared to walk away. Especially in this economy, they’ll agree to a lower price or soon chase after you.
Got it? What are you buying these days?
