Buyer Negotiation Techniques.
Every one of us is the buyer. The buyer is the person being pursued for their purchasing power. The buyer is the reason people go into business in the first place. Serving the needs of the buyer is the single most critical task any business can engage in. As the buyer, you have complete control of your negotiation decisions, so you have every right to demand the very best service a business has to offer. You can always take your business elsewhere, because no matter what you’re looking to buy, three other places within driving distance have 30 more just like it.
You are here because it was on your way, you had a little bit of time to kill and you might be in the market for one, some time next year. It is really none of the salesman’s business that you have been researching it online for the past three months; you know the exact color, model and options you want; or that there has been a picture of the thing on your bathroom mirror for six weeks.
You are ~say it with me now~ “Just Looking.”
Bad salesmen and inept negotiators fear those words more than any others in the English language. As the buyer, you are under no obligation to have patience with bad salespeople, inept negotiators nor the businesses which hire them. As they say in retail, “Can’t hack it, get your jacket; plenty of burgers out there in need of flipping.”
Human nature requires you to negotiate the very most value for that which you have to trade. Therefore, when you enter into negotiations for this thing you wish to possess, start high as a kite: Top End, Super Deluxe with all the available options, for which you would like to pay about 75 percent of the price of the base model. They might be having a special, and you would never know if you did not ask.
What you are doing is creating deflated expectations in the seller’s mind.
Remain friendly during the negotiation. You can even preface the offer with “I mean no insult” or words to that effect. There is no law against making an offer, even if it appears ridiculous. The seller is the person who “talked” you into making an offer in the first place. It is not your fault he caught you in a hurry, on a bad day, while your porch light was left on… You have to consider your budget and you will only remain there while the negotiation is working in your favor.
Once negotiations have commenced, the seller has to weigh all the time they have invested in you – showing you a product which you may very well know better than they do, while doing their own best to establish rapport – against the silly offer you just made. They want the sale and the commission which comes with it. Their organization wants the sale and the market penetration it represents. If there are deep discounts to be had for the item in question, they are about to be divulged.
Assuming you’ve done your homework, you are no doubt aware of what actual costs are for the item; more of that “Be Aware” concept, mentioned in lesson two. If you can get the seller to lose a little to move a unit, break even to put a mark on the board, accept a skinny margin to get a product into circulation… Congratulations.
Always remember to send the salesman a Thank You card for working so hard to get you such a great deal. If you’ve made them your friend, they will get you – and the people you refer to them – that same great deal every time. They will also count you as one of their Best Customers. Win / Win
Editorial by Ben Gaul