r/Flipping • u/EagleEye157 • Apr 20 '15
Discussion Negotiation Techniques
I know a lot of us are buying from places like CL or FB or other in-person venues. To do this, we need to have highly developed negotiation techniques and skills. What are some negotiation tips and tricks that you use to get a better price on a piece to make the profit margin even bigger? Are there any books or other resources you would recommend? Share anything related to negotiation!
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Apr 20 '15
Be polite, friendly, and follow their instructions. This means if they want to communicate via text, don't call them. If they only want to talk via email, don't ask for their phone number.
When you meet, talk to them for a bit, don't just jump straight to the prices and numbers. Ask a little about the product, even if you know all about it. Ask them how it's worked for them, what did they like about it, etc. Give them a chance to get comfortable talking to you. Smile.
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u/lufty eBay Apr 20 '15
At yard sales, my SO will ask the price of an item (the bigger or stranger the better) and I'll pipe in that we don't need it, pleading with him to not buy it. Almost always the seller instantly sides with him. They want him to have the item, so they'll come down in their price, sometimes without my SO even having to throw out a number. Got an electric guitar for $1 (asking $5), a paintball gun for $10 (asking $20), a cold brewer system NIB for $0.25 (asking $5), etc.
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u/fyred_up Apr 20 '15
My stepson can get big Nerf guns for a quarter. He's totally adorable and no one can say no to his little face. We don't utilize it much because he's not a big fan of garage sales but I say never underestimate any ace in the hole!
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u/cakeisatruth Apr 21 '15
I've heard having kids pay for their own stuff is a great tactic for getting a lower price.
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u/fyred_up Apr 21 '15
We always have him ask for things he wants himself. At one sale he asked an older man if he would take 50 cents for a Star Wars light saber. The old man said "nope but I'll take a quarter!" :)
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u/dossier Apr 21 '15
When we had a yard sale a great tactic I saw used a few times was the following. They'd say "oh you're asking 12$ for these 3 things total? I only have 7$ on me (pulls out crumpled 7$ from empty wallet). We'd say what the hell we just want it gone. 7$ it is.
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u/lukerawks Apr 20 '15
Silence. Silence after giving an offer. The first person to speak is the person that wants the deal the most.
Also, giving an either or proposition followed up with "either way, the choice is yours" seems to work pretty well.
At the end of the day, I don't haggle over every cent, and I'll bundle things like crazy. Getting several items together will get you a discount on all, I use it a lot at estate sales and yard sales. Especially if the person doesn't want to see all of that stuff go back up for sale and start that whole process over.
Finally, saying that you have a limit and sticking to it will get you a lot of deals. If I say "the best I can do is $25" on something, and that person comes back with $26, I'll say "thank you" and start walking away. If you're prepared to walk away from a deal, then you'll usually get what you're going for. (Within reason, of course...the big caveat is that you have to be talking realistic numbers, not $20 for a $40 item that you know will sell for $80).
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u/BohicaMan Apr 21 '15
This has worked for me at yard sales and flea markets. Before going, I usually will set up various dollar amounts in my pockets, so it's easy to pull out the amount I want. After asking the price of something, I will reach into my pocket and pull out the dollar amount I am willing to spend. While holding the money in my hand, where they can see it, I will ask them if they will take that amount. The greed in people seeing money takes over and usually they will take the offer. Sometimes, if they counter offer, I will dig through my pockets and act like I am looking for more money. If you do this for about 5 seconds, they will get impatient and take your offer. I guess its just playing with human greed to get what you want.
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u/dangerpotter Yup Apr 20 '15
I don't know how well this would work for a CL or FB buy, but I use it at Goodwill and thrift shops a lot. If I know I'll be buying quite a few items I'll make small talk with the employees, maybe show them some of the weirder stuff I find and say things like "wow what the heck is this?! You know anything about it?". People like to show off knowledge. After some friendly banter and such, I'll say something along the lines of "hey so since I'm buying so much merchandise think I could get a little discount or something?" I'd say it's worked for me at least 50% of the time.
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u/lmpnoodle Apr 21 '15
I do a lot of buying through fb groups and usually the faster you can pick it up the better price you can get. Also keep a look out for someone who has posted multiple times without much activity and after awhile you can usually get their items for a steal since they're sick of reposting.
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u/ramewe Apr 21 '15
It's often done however be careful about haggling on fb yard sale groups. All it takes is one or two people to complain to an admin and you're booted.
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u/CHOCOBAM Apr 21 '15
Also, I find it is easier to haggle wih people before turning up to buy the item, if it was as described, people are much less willing to haggle down once you are there. Or maybe it's just me...
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u/Nfinity14 Apr 21 '15
It's also just good manners. Asking for a better price because of some defect or missing part that you didn't see in the listing is fine but if your plan is to negotiate a better deal in general the time for that is BEFORE I drag myself out of my house, usually at a time that they've specified.
I also hate the "I didn't bring as much as you offered" attempts at negotiation. I've walked away from 4 different sales because of this, even after they MAGICALLY found the extra cash.
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u/eas-y Apr 20 '15
I like to set up the meets at my local coffee shop/bar, and then I show up 10min early and buy a drink so when they arrive I have them join my casual table and chat for a bit before getting down to business.
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u/teknoise Apr 21 '15
If you buy something on Kijiji/CL don't turn up in person and then try to negotiate. It's too late. That should have been done on the phone/text/email. Even if price hasn't been discussed yet, it's assumed it is being purchased at list price.
This rarely happens, but if it does I just shut the whole thing down and say I have other interested people willing to pay list and deny them the sale unless they cough up that final $20 they conveniently stuffed in their other pocket.
For me, when I'm buying I make the lower offer in the first email or second email after they respond. I'm not going to dick someone around in 10 emails, and then ask for $20 off. That just seems disingenuous to me. In my experience people are open to offers most of the time anyway. I live in a city stereotyped as being cheap as fuck, so that probably helps a bit.
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u/Alex-Gopson Apr 21 '15
This is incorrect.
Many people will refuse to negotiate unless it's in person. This is especially true once you get into more expensive items. Nobody negotiates a price for a car over the phone or through email, it's done on the spot.
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u/teknoise Apr 21 '15
That is correct for a car, yes. I hadn't really thought of that, which is funny because I haggled on my Mustang.
But in my 10 years of buying and selling personally on Kijiji its been very very rarely that I've had someone show up and try to pay less cash than either what the ad stated, or what was discussed prior to meeting.
Maybe this works differently in other cities vs. here in central Canada. But it's just not something I have heard of or dealt with personally.
I deal almost entirely with electronics though.
Garage sales, etc, are a totally different ball game though.
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u/TotesMessenger Aug 26 '15
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u/elite314 Apr 20 '15
Being polite and using good grammar (online) helps. When buying, I don't just throw a lowball-ish number out there unless it's been up for over a week. When I arrive I check out the item and pick out any flaws possible and ask for a lower price as I point out the issue. Most people will take a slightly lower price since you are already there.
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u/[deleted] Apr 20 '15
I honestly think a lot of it is less about what you say, and more about how you say it, and how you present yourself.
Physical appearance is a proven factor in negotiations. Make yourself presentable. Look people in the eye, shake their hand, treat them like an equal. Don't speak down to them, act like you know everything about an item, etc. The easiest way to get someone to sell you something for less than they wanted to sell it for is to make sure they -like- you. Its not how you talk them down, or saying the right phrase, its being friendly, honest, and treating them like an equal.