8 Best Psychological Negotiation Tactics and Strategies - How to Haggle - YouTube

Channel: Practical Psychology

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hey guys its practical psychology here and today we're going to learn how to
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haggle better if you don't know what haggling is it's basically the same
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thing that bartering is which is basically trying to negotiate a lower
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price when you're buying something so many people stay hesitant to haggle
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better some of the time because they feel like they're intruding on to
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someone else whenever they try to lower the price so I'm going to give you some
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amazing tips on how to handle better so the first tip is to do your research
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start by asking a very important question how much do you want to spin
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and when you set your financial plan be objective is to arrive at a deal that
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provides value to you and the person that is selling a product so you have to
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do your research on the product itself need to research the item and figure out
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what a fair prices then you can lower it just a little bit maybe by like ten
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percent and find out what an actual good deal is so what do you actually want
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from the item there's no reason to be paying for additional components that
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you'll never use look around and try to find the best item that you think will
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suit your situation and spending plan you can check ebay amazon craigslist and
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other online marketplaces for the best deal you'll find out that in different
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places the prices will be different and if you're buying a locally and with
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someone that you may barter with we can move on to the next steps but if you're
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buying it from someplace like Amazon or maybe newegg or some other online
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marketplace where the price is non-negotiable then you might want to
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close this video now so the next step is to build a rapport with the salesperson
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so what's the principle thing you should do when you first meet the salesperson
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you need a grin and ask for their name and this is very important if you've
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ever read how to win friends and influence people this is a huge tip you
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need to know their name and you need to use it frequently now when they give you
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their name you can also give them your name and it's stunning how basic trick
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like this and begin to separate any obstructions in the negotiation process
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so some cheerful visit and discussion and maybe just talking a little bit
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about how your day is going and how their day is going can build rapport and
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it will make you guys start to like each other if you're stuck for a thought try
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to talk about the climate or check out my other videos on conversation tips and
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it truly doesn't make a difference what you talked about as long as it's not
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something too touchy like religion or politics and try to keep the
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conversation long enough to break the ice but not long enough to make it kind
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of creepy to where you get off topic
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you forget what you're doing there so have some good time and try to develop a
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friendship but always remember that you're there to win a deal so
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psychologically if you can get a salesperson to gain an unconscious bias
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towards you
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that is they like you they will be much more compelled to give you a better deal
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so the third tip is to wait a lot of people want to go in and just try to
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haggle and negotiate the price down as quick as possible but persistence is
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very important haggling or bartering and try not to be in too much of a rush to
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do a deal and if it's possible try not to even say the price that you're
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thinking of within the first five minutes but the salesperson think and if
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you can try to go back to an off-topic discussion and it's generally great to
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give the salesperson a chance to inform you about the item before you actually
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buy it let them teach you about the product and if you have to play dumb you
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may know more than they know about the product but if you have to play dumb and
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act like you don't know much because simply them telling you about it letting
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them teach you will give them a bias that they start to like you because we
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like people that we can teach we like people that we add value to so give them
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a chance to demonstrate the offer that they're presenting and they might even
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have the audacity to offer a markdown or a price clearance on a specific product
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since it lacks a feature that you're wanting also why they're introducing the
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products you be on the lookout for flaws as we'll discuss these in the future
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step so the fourth tip is to stand your ground now discussion and conversation
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gives you the chance to discover more about the individual you're dealing with
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and maybe their motive on selling the product maybe they need some money to
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pay for college maybe they need to pay off alone if their attempt is to make a
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deal
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swift and smooth and to get X amount of money maybe they're only looking for two
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thousand dollars or fifty dollars and they're not going to go any lower
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this is ok but you may want to back out however if it feels like they're just
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really wanting to sell the product they're trying to steamroll you into a
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deal
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it might be because they're hiding something keep asking questions and
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trying to break down barriers and learn about this product as much as you can
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try to figure out what they're truly thinking about and if they actually feel
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like they're getting a deal from this sale and if you buy it really quickly in
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the future you'll find something wrong about it you're going to have buyer's
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remorse and even if there's something not wrong about it you still may feel
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buyer's remorse for buying it
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quickly so the next step is going to be about numbers so when you start
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negotiating never ever give your price floor never go the lowest amount of
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money that you will pay for a product or the price ceiling that is the highest
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amount of money that looking for a product now when you go into offering
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the first price try to get a decent deal low enough that it's almost annoying if
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it costs them one hundred dollars to buy it and you can buy a new one for fifty
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dollars on ebay try offering twenty bucks
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it may seem like a scam at first but of course they will most likely say no but
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if they say yes to a higher price than the rest of the day you'll be wondering
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how low you could have gotten so the first offer
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see if you can get them to say no you wanted to be low enough that it's
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annoying but not low enough that its offensive and here's another tip
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whenever they are talking after you asked for a price
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make sure not to say anything else until they talk a lot of people try to fill
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this gap up with some other conversation after you announce a price stick with it
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until they say something else they may think for a couple seconds which might
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make you uncomfortable but work through the silence make sure you smile and keep
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your body language open and friendly keep your toes pointed towards them and
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remove any objects between youtube and oh yeah the first time that you meet
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them and you ask for their name
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make sure to shake hands and also shake hands after the deal is done
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another trick is a have a get-out-of-jail card and this is
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basically you have to come up with a reason to make sure that you're not
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there more than the amount of time that you want to be there for example say
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that you have a dentist appointment in two minutes or that you have to pick up
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someone from the school or that maybe your wife is sick and you can't make the
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deal until they are doing better this will get you out of any sticky situation
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without hurt feelings
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now if possible and you're getting towards the end of the deal but they
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still want X amount of money maybe they need that extra fifty bucks to pay off
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their loan you can start asking for things to throw in when you go into
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shake their hand and ask them their name also be looking around the environment
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to see if there's anything else that they could throw into the deal for
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example if you're buying a car maybe they can throw in some cleaning tools
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offer an extra tire make sure that you're not being offensive when you ask
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for something extra make sure that it's appropriate and that you're being
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sensible and this will vary with every situation if you can try not to do it
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towards the beginning of arrangement more towards the end of the arrangement
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maybe when you get towards a price that the seller wants but you still think
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it's too high suggest adding in a smaller extra to accept his current
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price and continue with the next tip so the next step is clinching the deal
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no sales person will toss you out of the shop for ? down as long as you do it in
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a well-disposed and gracious way now tools are there to be done particularly
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in an emergency if you see someone needing money on craigslist ad or a
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facebook post then you are at the advantage when you get that
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better-than-average deal the feeling of fulfillment you feel is not just about
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the money you've saved it is also demonstrating something about yourself
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that you've set yourself a test and you came through it as a champ and the more
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you do it the better you'll get your negotiation skills are just like any
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other skill you can develop them and cultivate them with practice and i hope
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these tips get you off the floor running in that you can go out and practice this
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new haggling and negotiating school if this video added value to your life
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click the like button and if you have any extra thoughts leave a comment below
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thanks for watching and subscribe for more
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yeah