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:
- Lowballing. Offering substantially less to create psychological downward pressure on the price.
- “Up against the wall.” Forcing the other side to make more concessions than you do.
- Anchoring. Having both sides make equal concessions.
- “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