The Law of Unlimited Possibilities says: You can always get a better deal if you know how.
You never need to settle for less or feel dissatisfied with the result of any negotiation. There is almost always a way that you can get better terms or prices, whether you are buying or selling. Your job is to find that way.
The first corollary of this law says: “If you want a better deal, ask for it.”
The word “ask” is the most powerful word in the world of business and negotiating. [quotesright]Most people are so paralyzed by the fear of rejection and disapproval that they are afraid to ask for anything[/quotesright] out of the ordinary. They just accept what is offered to them and hope for the best.
But this is not the case with the top negotiators. The top negotiators will quite calmly and confidently ask for any kind of price or terms that are remotely within reason. You will be quite astonished at the better deals you will get by simply asking for a lower price if you’re buying, and asking for a higher price if you’re selling.
[quotes]One of my seminar graduates is a real estate salesman who buys houses.[/quotes] He works within a specific price range and looks at every home in that price range that comes on the market. His strategy is simple. Whatever the asking price, he offers 50% to 60% of that amount in cash, with no conditions. His offers all come with a short time limit.
[quotesright]He gets turned down dozens of times. Sellers often insult him and hang up on him. [/quotesright]
However, about one time in a hundred, he finds a “motivated seller,” a seller who is eager to sell immediately, and the seller will accept his offer. He then arranges a first mortgage for an amount greater than he has agreed to pay and uses the mortgage money to buy the house. He then either rents the house for an amount in excess of the mortgage payment, or resells it at a higher price.
His secret is simple. He simply asks people to sell him their houses at far lower prices than anyone else would ever dare.
The second corollary of this law is: “Whatever the suggested price, react with surprise and disappointment.”
Remember, most people have plucked the price out of the air. They are always asking for more than they expect to get, or offering less than they expect to pay. In either case, you should flinch and react with mild shock, no matter what the price or the offer. Appear hurt, as if the person has just said something cruel or unkind that was totally uncalled for. Then ask, “Is that the best you can do?” And remain perfectly silent.
Very often, when you ask a person how much an item is, and you flinch when they give you the price, [quotes]they will lower the price immediately. [/quotes] Almost every price has a built in cushion of available discount and very often the salesperson will drop to that price with one painful flinch on your part.
The third corollary of this law is: “Always imply that you can do better somewhere else.”
There is nothing that causes a seller’s price to drop faster than for you to tell him that you can get the same item cheaper from another source. [quotesright]This shocks him and shakes his self-confidence. [/quotesright] He immediately feels that he is going to lose the deal and often cuts the price quickly.
How you can apply this law immediately:
- Negotiating is a skill that you can master with practice. Take every opportunity you can find to negotiate on smaller items, especially in situations where you don’t really care about the outcome. Go to swap meets and garage sales and offer a fraction of the asking price. You will be amazed at how quickly you become skilled at getting better prices.
- Do your homework. Check around and ask about other prices that are available. The more examples you can offer when you demand lower prices, the faster the other party will come down to a price that is acceptable to you.
from "THE 100 ABSOLUTELY UNBREAKABLE LAWS OF BUSINESS SUCCESS" – Brian Tracy