Money for Men: How to negotiate a better deal
Kevin Brink
Whether you are buying a car, calling some cable representative in India to lower your cable bill, or asking your boss for a raise, you will find that the power of negotiation can save (or make) you some significant money. As men, we are expected to be good at negotiating, but very few of us really enjoy the process and even fewer of us are actually good at it. Here are some tips to be able to successfully negotiate in a situation other than Priceline.com.
1 Be Prepared to Leave
If the person on the other side of the bargaining table really believes that you might take your business elsewhere, you have a much better chance of getting a better price. In addition, be very specific about where you are going with your business. For instance, I have a friend who recently tried to get his cable bill lowered and subsequently told the customer service representative that he planned on switching to Verizon Fios. Unfortunately, he had failed to do the research to know that Fios was not even available in his area. Needless, to say, his phone call was unsuccessful and he ended up hanging up the phone faster than a 7th grade boy crank-calling one of his teachers. For face-to-face negotiations like buying a car, bring printouts of advertisements and brochures from all the local dealerships and make sure that they are visible to the car dealer. The more likely that they believe you will really go someplace else, the more likely they are to sweeten the pot in order that you stay.
2 Silence is Golden!
All successful negotiators have one thing in common — they have a very high tolerance for awkward silences. In fact, instead of dreading these silences they are able to enjoy them since they know that this is how they will squeeze you out of more money. Once you make an offer, do not say another word until you get a specific counter offer. You may encounter comments like, “Your offer is way too low” or “Our dealership would be out of business in a month if we made deals like that.” Still, under no circumstances should you make another offer (essentially raise your own offer) until you get a specific counteroffer.
3 Don’t be an Asshole
If you really want to get the best deal, you will need to have the customer service representative/salesperson in your corner. Even though they are your opponent in this game, it is very useful if they actually like you. Indeed, they might have to sell your offer to a supervisor and the way they present it to them could make all the difference. Avoid making smartass and sarcastic remarks, appearing upset or angry, and belittling your adversary, and you will find that you are a more successful negotiator.
4 Aim High
Initially ask for your dream price, not the price you think that you would settle for or that most people will get. Reason being, you never know how desperate the person on the other end of the phone/table is to make a sale. Consider if you were a movie executive and you wanted Lindsay Lohan to be in your next movie, just to get some additional buzz. My first offer would be like $250 and a pack of Skittles since she just might be that hard up for cash and or positive publicity. Also, trying to negotiate up from your initial offer will be as successful as Snooki would be on an episode of Jeopardy.
5 Dress Like a Slob
Obviously, this advice will not help you over the phone, but is often overlooked during other negotiations. A salesperson is more likely to believe that you have indeed reached the maximum price that you can afford if they don’t view you as being wealthy. Of course, especially for bigger ticket items, they will eventually have access to your credit report and know a little about your real financial situation. Still, I would skip wearing your Rolex watch or Armani suit when trying to get the optimal deal.
Do you have any advanced negotiation tips that have worked for you?
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