Best Practices in Negotiation: Raise Your Prices!
Best Practices in Negotiation: Raise Your Prices!
Would you agree with the following proposition?
The longer it takes you to sell something, the more expensive it becomes for you to sell it?
Economists refer to this added expense as a “transaction cost.” Your time and effort, as well as advertising and “staging” of the item for sale, all require money or money’s equivalents, in know-how, time, and in what my mom used to call “elbow-grease.”
Therefore, as time passes in a negotiation, the less we’re netting-out from our sale, even if the price never changes. If I start dickering at a 0 price point, but it costs me in clock time to collect that 0, I really brought in , correct?
When I bought my first home, the seller was working on an extended contract in the oil fields of the Middle East. I submitted a relatively low offer, and accompanied it with this statement,
