With inflation just causing prices of everything to rise by the second, good negotiation tactics are paramount in order to save as much as you can.
Research from the University of Technology Sydney has offered some great advice on the best way to handle negotiations, including that the first offer can have a significant impact on the eventual outcome, and if you try to drive too hard a bargain, it could backfire!
The study found that the success or failure of a negotiation depended not only on the final offer on the table but also on the "emerging dynamics" of the entire bargaining process.
Behavioral economist Professor Lionel Page of UTS said, "The intermediary offers made during a negotiation can be interpreted as suggesting either kind and compromising intentions, or unkind and uncompromising one."
Whether you're buying a house, a car, or second-hand furniture, this is a great resource for feminists who want to feel confident in their spending and negotiations. Financial literacy is key! https://t.co/r4KMZUNdcq
— National NOW (@NationalNOW) November 8, 2021
In essence, in order to land on the price you want, the study advises that "your opening offer needs to be not too hard, or you risk a spiteful counter-offer, but not too soft either, or you might be taken for a ride."
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