How to Negotiate a Lower Price

12/30/2016 Kapil Kumar 0 Comments

There is no secret that negotiation is art that you need to learn before applying, especially if you are planning to purchase something. Most frequently consumers act according to the set code: pay as much as the label says, however experienced buyers explain that this is never the case, because healthy negotiation is always appropriate. In this article on the example of buying a used phone we would like to show you negotiation force in action.
1. Do Your Homework
First and foremost in negotiation is to know the market, which in case of buying a cell phone means searching for the options and prices available. Go online and get all the information you need. First of all, let say you are planning to buy the latest iPhone; so you need to use any available 
online tool to check price for iPhone from several sources, which in your case means several websites and precise sellers. Make sure to write down the most appealing variants and sources you get the bids from in order to have backup information during negotiation.
2. Do not Name a Price First
Allow your seller to name the first price, try to avoid naming your expectations first. This is a great strategy to understand what expectations and aims the seller has. The seller most frequently will name a higher price than he or she expects, this is why it is your trump card. The named price for a cell phone is your starting point, which means that you can significantly lower it. And this is where your homework will help you in doing so. You know the offers available so when lowering the price you will not only make it lower but also support it with the proper evidence to give your seller no chance to backup.
3. Do not Be Reasonable
As a rule, people try to get the price (which is the highest) and then name the lowest eventually buying a phone by the middle price. According to the experts, this is a bad idea, because you will still pay too much for it. If you cannot avoid naming the price, make it ridiculously low. First of all, it will set the tone of negotiations; secondly, it will confuse and leave your seller defenseless.
It might seem hard to follow, but trust experts, this always works!
4. Know the Limit
As you remember your homework, you know the highest price, but at the same time you need to set up the limit for your possibilities and never cross it. For example, you 
check price for Blackberry phone and you got the lowest price $X and the highest $Y. When negotiating, always remember these prices and try to get close to the X. At the same time by setting up the limit, which is the maximum price you are willing to spend for a phone, make sure that you do not open it to the seller. In case you need to uncover this information, make it even lower, so that just in case the seller does not agree you will still have a chance for trade-offs. However, a smart buyer should remember the rule to go away at the right moment and never to regret it. In this case you either get your price or you get another cell phone even cheaper next time.