What is your best negotiating trick? Mine is anchoring! (Details in the post below)
My best negotiation trick, which I’ve frequently used, is called anchoring. It’s best highlighted by an example…
Ok, I want to buy something, and a fair price is $2,000, the offer price is $2,400. I’ll go in and make a semi-joke that I want to buy it for $300 and mention that figure repeatedly, with a big smile to keep it friendly. Suddenly even $1,600 suddenly seems reasonable because it’s being compared to with the joke $300 and I’ll offer $1,400, and at least go for $1,600.
Had I not done this $2,400 would be in everyone’s mind, and even $2,000 would have seemed like a low offer.
One more example - if you’re on $5k per month, tell your boss, as a joke, that you should be on $20k for all the work you do - mention it a few times, with a smile every time. Now, ask for a $1k pay rise - sounds like peanuts.
Sometimes the joke may not be appropriate, in which case you still need to make sure whatever figures are mentioned suit your goal. So if you want to haggle for that $40,000 car, at least have the courage to start with $32,000 with a serious face. It just makes the seller struggle to get anywhere near $40,000. But if you start with $38,000 you’ve already lost half the battle.
I like the anchoring idea, I will give you another idea next week when I upload the video on d.tube. My trick is more of 'pace and lead' thing set to the sound of the Thai souvenir shops and Thai businesses.
Still I love the anchoring aspect, the 'thinking fast, thinking slow' biases from Kahnmann and Tversky.
I like that you have found a unique way to introduce yourself! I have to try out anchoring more often. A really great tactic that I have been using lately, not necessarily to negotiate but to get people more willing to work with me, is to ask personal questions when meeting someone.
Instead of just saying "Hello, how are you?"
Follow up with "How long have you been working here?...Wow that's a long time. What is your favorite thing about this place?"
It seems weird to ask that to a stranger but if you do it within the first 5 minutes of speaking with them you will see their entire body language change from formal and polite (not wanting to answer 100% honestly) to personal, slightly vulnerable, and genuine.
Then it is easier to ask them a favor, etc.
But it only works if you actually care about their answer (or seem like you actually care).
Hello @millionairemark. Welcome to Steemit. I am David. I wish you have a happy journey here.
Thank you!
Welcome to steemit . Theres always something going on .
Like money-making!!!
This is the best way to haggle your way to a bargain. I use this technique when buying cars. Its very effective.
@evilplague
Exactly!
Welcome my friend nice to me you good post i am @djnoel :)
Thanks!
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