From the course: When Negotiation's about More than Money: How to Negotiate (Almost) Anything

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Don't get tempted in

Don't get tempted in

- Now we come to the all-important opening offer, which as a buyer is going to be low. But the thing I want to say about opening is definitely don't be the first one to open. You absolutely mustn't just go in and say, "I want it cheaper. "I can only afford X." And what's the only thing worse than making an opening offer first? And that's revealing your limit. So let's suppose that the most you'll pay is 30, and that might be 30 pounds, it might be 30,000 pounds, I don't know. Suppose the most you'll pay is 30. And suppose the seller is asking for 40. You could go in and go, "Well, I'm not paying more than 30. "That's all I've got, you know," but you've now given away your limit. And you're going to end up paying 30, which is, in a way, your worst outcome. You've given away your whole budget. So a bit better than that would be to go in and say, "I can only afford 20," and then reluctantly work your way up to 25 or…

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