The Art of Negotiation

I hope that everyone reading this got everything that they were looking to get from #BlackFriday sales. Holiday season is a joyous but stressful time for us all. We even got in on the action at our CDJR dealership with 20% off MSRP sales on vehicles to help save money.

But what I really wanted to address today is negotiating. I know that a lot of people do not like this part of the sales process but it is very necessary to everyone involved. The business needs to make money...enough to turn some type of profit AND pay the salesman their commission on the deal. The customer is also looking to get the best deal available which often means less than what the business owns its product for. Often times this IS NOT the best option for both parties involved because everyone is focused on their own agenda and that's it. So today, I would like to share some insight from my years of experience in the art of negotiation with you.

When thinking about purchasing an item with a negotiable price, you should first DO YOUR RESEARCH! This requires some work on your behalf but will also give you a solid but fair idea of what you would be willing to pay. There are many sources that give different values on items so be sure to compare a few different prices to find an average market value. You can't get the deal you're looking for if you don't know what deal you're looking for to start with!

Once you have landed on your dream whatever, the salesman now has the task of not only earning the customers trust by getting you the best price possible, but also to make enough money to provide for his/her family and to compensate for the time spent. This is negotiation!

Negotiations tend to fall through primarily due to neither party listening to the other and finding common ground. Respect for each others wants and needs will go a LONG way when negotiating. For example; If you see a car on a lot with an asking price of $28,000 and the dealer has it discounted $2,000 off the sticker that means that the dealer probably has very little room to negotiate if any. So to come in and ask for another $4,000 with no evidence to back up your request is unrealistic and unfair to the salesman.

What we must realize is that every dollar you negotiate off of a price is taking money away from someone else's family, because MOST salesmen get paid on the amounts that they sell items for NOT hourly and every dollar counts to them. Just imagine your boss coming to you and saying ok today we're not going to pay you your normal rate of $14.00/hr but we're going to pay you $9.00/hr because that's what we feel you're worth today. That WOULD NOT BE OK!

So please remember that every time you negotiate to:

1. Have a realistic idea of what you think a good deal is so that when you get it you know it!

2. Listen to the other party. Find common ground that everyone can agree on and build on that!

3. Be respectful of others time and needs. DO NOT focus on yourself. Give a little, get a little!

#negotiating #price