the Art of Negotiation

The Art of Negotiation

Everything in life is a negotiation, from negotiating the price of a house to negotiating the terms of a loan to negotiating the cost of having your yard mowed.

Did you know you can negotiate in department stores? I found a jacket I wanted at a major department store that had been marked down but was still more than I wanted to pay. I asked the salesperson for a better price but she said they weren’t marking down again for another week.

I didn’t want to come back and what if it sold before it was marked down again? So, I asked to speak to the manager. I told her what I was willing to pay to take it right then. She checked and came back with a “yes”! I got the reduction I wanted and they sold merchandise, win-win.

We once attended a seminar where we were all given an assignment as we left for lunch. Some had to get a 10 percent reduction off the price of their lunch, some were to ask for a 25 percent reduction. Some were to ask for one free meal at the table, some were to ask for free desserts. Have you ever tried this at a restaurant?

I want you to know that EVERYONE came back with success. Our group was to try for a 25 percent reduction. We were originally told by the restaurant manger that would not be possible. We negotiated for a bit and finally asked, “what can you do for us?” It ended up that we were all given free drinks and desserts. When we totaled what we’d spent versus what the free items totaled, it came up to almost 35 percent off the meal price.

But the best part is, it was still a win-win. They received full ticket price for the five meals we ordered. They gave us all free fountain drinks which costs a restaurant almost nothing. The desserts would possibly not have been sold anyway. So for us it was a huge cost savings, for them, they created happy customers and gave up very little as far as profit.

Whenever negotiating, always aim for a win-win. Both parties need to come out feeling good about the results.

We’ve negotiated mortgage interest rates, repair costs, construction materials at big box stores, buying and selling prices, attorney fees, landscaping, land values, property taxes, and so much more!

You may not be able to negotiate the price of gas at the pump, but there are MANY things you can negotiate everyday.

What can you think of?  What have you tried?

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  1. Mostly it was conversation. I know for our group, we told them that we were in a seminar and had been give the assignment to get discounts at our lunch restaurant. The manager seemed to get a kick out of it. There were 6 groups sent out – all received discounts. I’m not sure how the other groups approached it.

    But, as I said in my example at the department store, I simply talked to the manager and shared with her what I was willing to pay. I told her that I really wanted the jacket, but all I could pay for it was x amount (I don’t remember – I think I offered $250 when it had been marked down to about $300). Again, it’s just a conversation. If it works for the store, it works.

    I am surprised that it’s possible to negotiate a lot more places than most people are aware. Retailers are making a profit and competing for your business. In the case of the department store, they had a paying client and they had a minimum they wanted to make on that jacket. Turns out, my offer worked for us both.

    Please try for yourself and let me know how it works out for you! Thanks for asking.

  2. I am curious to know what the folks said to the people at the restaurant?

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