Many people are under the misconception that a price set by a seller is the price that must be paid by the buyer. While there are some cases where this may be true (you probably wouldn’t ask your grocery store cashier for a lower price on bananas), there are lots of purchases that you can and should negotiate. Here are some purchases you should pay special attention to:
Although furniture purchases are often spread out over time, the contents of one’s home add up to some of the costliest purchases that individuals make. Even big-name retailers are willing to negotiate sales pricing on pieces of furniture. Some good bargaining here could be asking for free delivery, picking clearance items, or even buying more furniture – the store may offer a larger discount if, for example, you purchase a new mattress along with your new living room set.
Property and Rentals
Areas where there is plenty of supply and less demand offer buyers and renters additional negotiation power. Remember in these situations that price alone is not the only thing that you can negotiate. For instance, maybe you’re looking to rent an apartment. Maybe you notice that appliances are old and probably not energy efficient, you could let the landlord know that you’d be willing to pay the going rate if they were to upgrade the appliances. Often times they will! I’ve gotten pretty significant discounts when renting airbnbs just by asking!
Retailers and individual sellers generally don’t like to offer additional discounts on new products, however used items or “open-box” items are a different story. Shopping for phones and laptops at pawn shops, repair shops, or on craigslist give the buyer additional leverage to negotiate a lower sale price. If you notice a seller has many of a certain model available this could be a sign that they’re not selling as many as they’d like- and that they’d let some go for a discount. Additionally, point out any scratches or blemishes that you see and let the seller know that you could live with the defects if the price was lower.
Anything And Everything On Craigslist Or Other Peer-To-Peer Marketplaces
Don’t let the tagline “price is firm” scare you. You should always make an offer lower than the listed price and see how the seller responds. They may accept your offer, meet you in the middle, or reaffirm that that the price is not-negotiable. Decide how much the product is really worth to you and move forward by either making the purchase or moving on and finding something else. It never hurts to ask!
An often-overlooked negotiation tactic is method of payment. You should ask the seller what method of payment they would prefer that could get you the most favorable terms. In some cases, this will be the all-powerful C-A-S-H, or in other cases the company may offer incentives to use their in-house financing. The salesperson is more likely to lower the price if you pay in the way that benefits them the most.
One of the reasons often listed by people that choose not to negotiate is that they are afraid the salesperson will be insulted or get angry and refuse to sell to them altogether. Generally speaking, this is not the case. A general rule of thumb that is advised is to always remember that the salesperson really wants to sell you the item in question. There is probably a stop-limit price which they cannot go below, but the list price is almost always well above that limit. Accordingly, you should negotiate final sale price whenever you can to save money!