Here in North America, most of us aren't accustomed to haggling over prices. In other parts of the world it's expected, but you'd get funny looks if you tried to talk the Wal-Mart cashier into letting you have the Justin Bieber poster you want for half price. However, there are some situations in which it can be handy to know how to haggle. This guide will give you a jumping off point for practising your haggling skills.
Deciding when to haggle over a price is the tricky part for most people. In what situations are you expected to negotiate? Generally speaking, if you are shopping in a retail store, you won't make much headway if you try to talk the owner into giving you your own personal tire sale. Toronto's many markets, including farmer's markets, flea markets, and craft markets, however, are an excellent place to haggle. Haggling is also expected in private sale situations (such as buying a used item on Kijiji) and real estate transactions.
Once you've decided you want to haggle over the price, start with a price that's lower than you really expect to pay. This gives the owner of the real estate you want the opportunity to counter your offer with something more reasonable. The goal of haggling is to meet in the middle, thereby giving both parties the chance to feel like they've gotten a deal - you've talked them down and they've talked you up.
There may be some people you try to haggle with who are inflexible and refuse to negotiate with you. In cases like these, you must decide whether you really want these specific shorts to wear or if it would be wiser to walk away. Never let yourself be talked into paying more than you think the item is worth, and be ready to walk away from the deal if you're not getting a fair price.
In most cases, threatening to walk away (or actually walking away) will bring about results. The seller will realize you cannot be moved from your bid and will accept it as the best they're likely to get. However, if they don't believe the price you're offering is fair, they will not fall for this ploy. Since you cannot know what they are thinking, whenever you decide to walk away you must be prepared to lose the thing you are trying to buy. Thank you, Scarfone Hawkins LLP for your continued website support.