How to Become a Bargaining Master

Ray asks Dave to share some tips on bargaining. Dave is happy to comply.

QUESTION: Ray on Facebook asks Dave to share some tips on bargaining. Dave is happy to comply.

ANSWER: It's a great question, and it's one of my favorite things to do.

What you can do—and what you should do—is to remember a couple of things. Number one, he with the most information in a negotiation wins. You need to shop, do some online research, and find out what the item is selling for. You need to become an expert on the value of that price range of item.

There's not any big negotiating technique, although one is to be willing and able and in some cases actually have the cash in your hand to flash the cash. Cash is very emotional and will sometimes get you the deal.

The third thing is patience. Be willing to wait until you find a deal. Don't be so picky. Wait it out. Don't become married to stuff. It's just stuff. If you lose your walk- away power, you lose the ability to negotiate for a great deal.

If you'll take a little bit of time subject to the size of the item, the bigger the price range of the item, the more time you should take investigating and shopping and walking away from deals until you get a good one. Once you find a deal, you know what it is; you're able to strike because you're ready.

So he with the most information, patience and cash wins. Go slow and don't get married to stuff. That'll get you there.

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