a price in mind. For example, theymight, unbeknownst to you, be willing to pay $200 for the mower, but when they ask what you’d accept, you say $150. Don’t lose the advantage of being able to counteroffer. Let the buyer speak first. That’s why it’s called an offer. It will either be an offer you can accept, or you will at least havemore knowledge about what price the buyer has inmind.
Don’t: Automatically “Meet in the Middle” Even in the simplest of sales transactions, agreeing on a price often includes “meeting in the middle.” For instance, in the lawnmower scenario above, a buyer speaks first and offers to purchase an item for $150, when the seller is expecting to sell for $200. Most sellers will split the difference and counteroffer $175. By counteroffering $220, the mid-point becomes $200, keeping the splitting point in the seller’s favor. The buyer could take the offer or agree to $205, which is slightly more than what the seller planned to ask for. Maximize your negotiating by counteroffering in small increments. Avoid following human nature; don’t simply “meet in the middle.” Don’t: Accept lowball offers Home buyers look for deals. Think how quickly you would jump at a home selling below market value and in perfect condition that meets your every need. That situation rarely happens, but that doesn’t mean buyers won’t make lowball
127
Powered by FlippingBook