Everything seems to be negotiated nowadays. Even something as trivial as keeping control of the TV remote is negotiation. But negotiating for price can be a bit different. Here are some pointers on negotiation ranging from my experience from corporate deals to haggling in a flea market.

• Know where to negotiate

  While there are many venues for negotiation, there are some places where it wouldn’t be an option. Take retail stores for example. The only way you could probably get discounts is through the store manager or owner who have the authority (unlike the store clerk) to mark down prices. Just be discreet about it since some might be wary not to let other customers in on your “deal.” If they say no, then be ready to accept it. It’s retail anyway.

• Build rapport

  Small talk goes a long way to build rapport. No one wants to face a hard bargainer so better soften up the other party by being friendly. Engage them in small talk. Find out some common likes. It’d be easier for you to lay down your terms without being too threatening.

• Curb your enthusiasm

  People in sales know if they’ve got a sure buyer from the twinkle in your eye. So if buying, better curb your enthusiasm or they’d think that you’d buy anyway, no matter what the price.

• Offers and Counter-offers

  The rule of thumb is to initially bargain for the maximum (In garage sales I even try 75% off! Works a good number of times). Why? You’ll compromise and prices will adjust anyway. It’d give you large leeway.

  If you’re a seller, you don’t want to overprice too much or no one would even try to negotiate. If a buyer, just be wary of proposing an absurd bargain (that 75% off is one, but they’re in everything-must-go contexts anyway). Many would be irritated by ridiculous offers.

• Go for the win-win situation

  Sellers would definitely not do business if they’re put on the losing end. Try to go for the win-win situation where both parties find the deal both to your liking.

• Close with a good handshake

  A handshake would mutually “seal the deal.” A good deal opens doors to future deals and transactions. You’d be amazed that building a “good seller/buyer”reputation would benefit you in the long run.