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Thoughts on Negotiation

It is surprising to know that many people didn't know that most things, regardless of products or services, brand-new or pre-loved, personal or corporate, even your salary is open for negotiation.

All sorts of transactions are just trading activities, so when it comes to buy/sell, both parties have different interests and objectives

The seller wants to trade a product/service for money because the money offers more value than the product/service he has, while the buyer is willing to part his money for it because he determined that the product/service will add more value to him.

This is why sellers come up with various marketing tactics to make you desire the product and you may find yourself going through various promotions to try to stretch your dollar and get the best deal you could ever find. 

A typical product or service already comes with a price tag. Even though there is a market rate both parties can refer to, most of the time the seller is very willing to lower the price, on top of any promotion, if you are willing to ask for it.

Whatever price that the seller offers you at the end of the day, it will definitely be much higher than the price he is willing to buy it back because regardless of the actual market value of the product, the product itself doesn't add much (or any) value to him, which is why he is selling in the first place.

Also, don't be disheartened if you don't succeed in negotiations, because you may not get whatever you have asked, but you will never get whatever you don't ask for.

Another thing to note, please, is to remember that your time worths money too. Please don't spend too much time negotiating just to save a couple of dollars. If you are going to spend more than 5 minutes negotiating, make sure the savings are at least three times the number of minutes you have spent.

When is the last time you tried negotiating for something? What do you think is the most common thing up for negotiation? Do you think there's a fine line between negotiation and disrespect to the seller? Please share your thoughts with me and many thanks for reading.

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