Hardly anybody enjoys doing it, but negotiating can play a huge role in big purchases such cars and homes. It’s easy to take the price given and run off with it, but sometimes that price doesn’t reflect how much the purchase is actually worth – or, the person selling is planning on starting high on the off-chance someone does happen to bite.
Talking down an asking price is practically an art, but leaning the ins and outs can net you a lot of cash saved, or beat out any other offers, next time you’re making a big purchase. Here are some things to think about the next time you get down to haggle:
- Psychology can work in your favor
It’s a common trick used with just about anything for sale: rounding down the price to make it look and sound better. Everyone has seen this before, when something is priced at $9.99 or $99.99, because that looks and sounds more appealing than $10 or $100. But when you’re buying a home, you can actually take this trick and use it to give yourself an upper hand on the other buyers. If you are okay with the asking price, round it up (say, from $599,900 to an even $600,000) and you’ll find that most sellers will jump at the offer. It sounds better, looks better, and it only costs you an extra hundred bucks.
- Keep calm
Making a big purchase, like a house or a car, can get emotional and tiring, but don’t let yourself just take whatever price you can get in order to be done with the whole process. Keeping yourself level-headed and rational is the best way to avoid being worn out by a seller who keeps firing numbers at you.
- You aren’t alone
Just because you may be buying a home or a car on your own, doesn’t mean that there aren’t any resources out there that can help you. A professional real estate agent has the knowledge and experience of years working around situations like your own, and he or she can give you the best advice on when you want to haggle the price, when you want to be aggressive, and when you want to take your time. Plus, you’ll walk away at the end of the day knowing you got the best deal for your money.