Bargaining is an art that can help you in saving some money through your negotiating skills. It is an acceptable technique that people have been using since time immemorial. Local markets in and around the world are proof of bargain sales as vendors and buyers haggle over the price before coming to an acceptable amount.
You must have found something to your liking many times but a look at the price tag and you turned around. It is at such times your bargaining skills must come to the forefront. If you want to capitalize on a sale you need to familiarize yourself with its finer points. Do not fear embarrassment or rejection as they will not allow you to bargain skilfully; instead, think of it as a technique that can help you to achieve your target successfully and that too within reasonable means.
Table of Contents
1) It is acceptable to bargain
Are you fearful of haggling because you do not want to look cheap and are mortified of hearing a decisive no? Do not be embarrassed as most people in the world have bargained for at least at one time or another. Remember it is acceptable to bargain you just need to give the person at the other end an incentive to do so with you.
Do not be shy to ask for what you want, do not be over assertive and see that others are comfortable with you. Do not believe whatever you are told instead think and then negotiate so that both of you can come to a mutual decision if you are looking for ways to bargain.
2) Know the place where it is acceptable to bargain
It is important to recognise the places where it is acceptable to bargain and places where it is abhorred. A local bazaar or a shop that has items on sale is an easy bargain store whereas it will be considered ill-manners to think of bargaining at places like Tiffany, Harrods’s and Victoria Lingerie.
Sometimes you like some piece and are willing to bargain for it but cannot understand whether the store is willing to do so or not. You can give the salesperson an opening like it is not in your budget. If the store salesperson finds bargaining acceptable he will give you a reply and if not then he will not say anything. Understand and then make your decision.
3) Have good listening skills
A person who is interested in bargaining has good listening skills. He knows when to ask a related question and when to shut up so that the other person can start his negotiating tactics.
He lets others take the initiative so that he does not sound desperate for the deal. As soon as the other person will realise the importance of the commodity in your life he will raise the price hence do not show your interest instead listen and let him speak. An important way to bargain is by adopting good listening skills.
4) Do your homework
A person who is skilled in negotiating will do his homework if he is looking for ways to bargain. What is the actual price of the commodity and to what rate you can haggle with the other person? Is he desperate for a sale or is he the stubborn type. What is the price set up by his competitor are some important questions that you need answers to before starting on a bargain?
5) Do not be afraid to walk away
Be willing to walk away if you do not consider it a good bargain. Show your attitude up front and do not sound desperate for any commodity. When you show that you are willing to go to the next person if you do not get a satisfactory deal then the person on the other side will bend backwards to make a deal with you. The person who is not willing to surrender has the power hence do not show your desperation if you are looking for ways to bargain.
6) Do not be in a hurry
Bargaining is an art that needs time to settle and come to a conclusion. Be patient in your dealings and remember to let the seller set his price first so that you can know the line from where to start. Do not show over-enthusiasm for any product as the seller will not budge if he sees your desperation. When he is guaranteed of a sale why will anyone be willing to bargain the terms of the sale?
7) Right attitude
Remember it is just a sale and you are bargaining for a commodity. It is not a fight just a dialogue between two people to reach a mutual understanding of the price. No one likes a person with a surly disposition bargaining and screeching over their head. Enjoy yourself and maintain the right attitude if you are looking for ways to bargain. Smile and show your warm nature and accord due respect to others if you want to take the piece home.
8) Make others comfortable
If you are a professional and have a need to bargain repeatedly then it is important to make others feel comfortable with you. A few common phrases of the local language can remove any awkwardness very easily. Smile and greet with warmth, ask questions and then show him that you are willing to bargain. When you develop an affinity both sides become willing to agree to a common price. Do not be abrupt if you are looking for ways to bargain.
9) Do not show your money beforehand
If you project yourself as a wealthy person then no one is going to give you a good deal. The person at the other end will start with at least five times more than the amount he would have asked someone else. Do not show your wallet and money if you seriously are looking for ways to bargain. Take your time, be patient in your dealings and bargain like a pro by putting pressure on him and showing your disinterest in spending the amount asked.
10) Start from the bottom
If you are looking for ways to bargain you need to leave a margin for successful negotiations. Start from the very bottom and gradually increase your price albeit reluctantly to show your willingness to compromise. It is important that the seller relates to you hence try developing a relationship so that both of you become comfortable with each other. This will increase his willingness to compromise and come to a joint decision.
11) Determine the worth of the item beforehand
If you see something to your liking and are interested to make a purchase discreetly try to know its monetary worth. You cannot bargain until and unless you know its actual worth. Roam in the market and try to find the prices that everyone is demanding for it if you are looking for ways to bargain.
Remember a dealer will always place the highest possible price at the onset as he is also aware that he will have to reduce it once the bargaining starts. Now even if he reduces the price halfway it is a bad bargain for you. Once you know its actual worth you can make a good decision in relation to its price.
12) Stop once you get your bargain price
Once you find the seller adamant on a price and see that he is refusing to budge then it is time to make a decision. Is the price at par with what you were willing? Is the commodity you want to purchase worthy of the amount you will spend? If everything is to your liking then make the deal if not be willing to walk away. Do not push at this point if you are looking for ways to bargain because you might lose the deal.
13) Look for bargains at the end of year
The end of the year is the time when people try to clear their stores of old stock so that they can replace it with new stock. The owners are in a willing mood to bargain so as to sell their merchandise. Wait for this time if you are looking for ways to bargain. You will get a lot of options as several stores will be at your disposal to make a choice. If the price is not to your satisfaction let the seller know about it and see whether he is willing to bargain further to your liking.
Liked this post? Check out the complete series on Sales
