6 Ways To Negotiate A Better Deal
Negotiating can be an intimidating task, especially when it comes to buying something expensive like a car, business equipment or any other large ticket item. However, with the right techniques, and even if you’re using Quickloans for financing your vehicle/car loan, or your business loan, you can effectively negotiate a better deal and save yourself considerable money. Chris Voss, a former FBI hostage negotiator, has developed effective negotiating techniques that can be applied to everyday life. In this blog, we will explore 6 ways to negotiate a better deal when buying something expensive using Chris Voss’s techniques.
#1 Do your research
Before you start negotiating, you should do some research on the item you are interested in purchasing. This includes researching the price range, the market demand, and the competition. By doing this research, you will have a better idea of what to expect when it comes to negotiating the price.
#2 Use labeling
Labeling is a technique where you acknowledge the other person’s emotions and feelings. For example, if you are negotiating with a salesperson and they mention that the item is very popular and there are only a few left, you can label their statement by saying, “It sounds like you are concerned about running out of stock.” This technique allows you to build rapport with the other person and can lead to a more productive negotiation.
#3 Use calibrated questions
Calibrated questions are open-ended questions that encourage the other person to provide more information. For example, instead of asking “Can you lower the price?” you could ask, “What options do we have for making this more affordable?” This type of question allows the other person to feel like they are part of the negotiation and can lead to a more positive outcome.
#4 Use mirroring
– Mirroring is a technique where you repeat the last few words or phrases the other person says. For example, if the salesperson says, “This is the best deal you will find,” you can mirror by saying, “The best deal I will find?” This technique can help you gather more information and can also help build rapport with the other person.
#5 Use the “Ackerman model”
– The Ackerman model is a negotiating technique that involves making incremental concessions. You start by making a low offer, and then each subsequent offer is slightly higher than the previous one. The idea behind this technique is that by making incremental concessions, the other person will feel like they are getting a good deal and will be more likely to accept your final offer.
#6 Know when to walk away
– Sometime, no matter how much you negotiate, the other person is not willing to budge on the price. In these situations, it is important to know when to walk away. Walking away can be a powerful negotiating tool, as it shows the other person that you are serious about getting a good deal. If you do decide to walk away, be sure to do so politely and leave the door open for future negotiations.
In conclusion, negotiating can be a daunting task, but with the right techniques, you can successfully negotiate a better deal when buying something expensive. By doing your research, using labeling, calibrated questions, mirroring, the Ackerman model, and knowing when to walk away, you can increase your chances of getting a good deal. Remember to stay calm and professional during the negotiation process, and be open to compromise. With practice, you can become a skilled negotiator and save yourself some money in the process.
Ash is a professional content writer with extensive experience in business development in the financial services. Ash has founded businesses from the age of 19, including franchising ventures, and working alongside some of the largest retailers in the world.