How to negotiate

Tips from Leo Reilly in How to Outnegotiate Anyone (Even a Car Dealer!).

  • Be patient. If you insist on having something today, know what you want and be prepared to pay for it.
  • Never disclose your deadline.
  • Cultivate a positive relationship with the other party.
  • Don’t make the other side look stupid (for a prolonged period of time).
  • The best negotiators talk only 40% of the time.
  • The most intimidating thing you can do to someone trying to intimidate you is to not be intimidated.
  • Never be the one to make the first offer.

The most critical aspect of negotiation is the opening offer. Four opening gambits are possible:

  1. Lowballing. Offering substantially less to create psychological downward pressure on the price.
  2. “Up against the wall.” Forcing the other side to make more concessions than you do.
  3. Anchoring. Having both sides make equal concessions.
  4. “The Kiss.” Like anchoring, except allowing the other side to take one final (often minor) concession.

If you want to find out what Leo says about how to buy a car, in 5 minutes, below dealer cost, you’ll have to pick up the book though. :-) -m

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