Skip to content
ESCAENPA

Negotiating a price

Negotiating isn’t beating the other person. It’s reaching an agreement you’re both happy with, without you losing out.

Your strength: plan B

Before negotiating, decide what you’ll do if there’s no deal. If you’re selling a car and have two other interested buyers, you can negotiate calmly. If you need the money tomorrow, you’ll give in. Your plan B is your strength: the better it is, the less afraid you’ll be to say no.

The first number matters

The first price mentioned in a negotiation “anchors” the conversation: everything else is compared with it. So:

  • If you’re selling, set a starting price that’s fair but leaves room to negotiate, and explain it.
  • If you get a very low first offer, don’t negotiate from that number: go back to market data.

Golden rules

Never concede for free“If I go down to 7,500, shall we close today?” Every concession in exchange for something.
Ever smaller concessionsFrom 8,000 to 7,700, then 7,600. That way the other side understands you’re near your limit.
Have a minimumDecide your lowest price in advance and don’t cross it in the heat of the moment.
Use silenceAfter you say your price, be quiet. Whoever speaks first usually gives in.
Practise all this in the negotiation simulator.