5 Ways to Negotiate Prices Without Losing Your Teeth

Price negotiation is the process whereby a buyer and seller discuss and agree on the price a product or service should be sold. It is an oscillatory exchange of offers and counteroffers between the buyer and seller with the goal of reaching a level ground beneficial to both.
5 Ways To Negotiate Prices Without Losing Your Teeth

Every buyer has a right to negotiate. But, the question is - how do you beat down a price from NGN10,000 to the NGN1000 you have in mind? How? It looks really impossible.

Actually, it isn't. That feeling of it being wild is one of the reasons we end up paying twice the price for things. In fact, there are many reasons that hinder us from negotiating and they include the fact that we are held back by emotions. In other cases, we don’t negotiate because we don't want to look cheap and sometimes, it’s because we don't want to hurt the feelings of sellers. In summary, among other reasons, buyers generally fear that negotiating will make them look petty and inconsiderate. 

Price negotiation can take place in several context like buying a car, negotiating a salary , negotiating for a service or getting a product from the store next down your street. It requires a compromise from both parties in other to reach a fair ground of acceptance of price for products or services. As a consumer, your ability to negotiate easily can save you time and energy. This requires good communication skills and your willingness to listen to the other persons perspective. In this article, we shall be exploring five ways to negotiate effectively that can saves you and your customer time and energy.

1. Conduct a Market Research

Whatever product or services you want to buy, its advisable to have a knowledge of the market price. Every seller begins by offering you a high price. Your counteroffer will reveal to the seller whether you are abreast with the latest price of such product or service in the market. Giving a counteroffer a little lower than the original price that you know, will make the seller to know that you have knowledge of the price of such product or services. For example, you want to buy an Iphone 13. You have conducted your market research and let us assume the general price is N300k excluding shipping. You went to a phone slot and the seller gives you a price of N500k. as someone who is aware of the wholesale price, you can begin your bargain from N270k. If the sellers aim is to sell at N330k, it wont take long before you reach a compromise and agreed on the price. In this way both buyer and seller will feel satisfied and save each others time.

2. Allow the seller to make the first offer

It is conventional for sellers to make the first offer in bargain. As a buyer, you bargain within the price stipulated by the seller. The buyers price gives you the price range for the product or service and your goal is to bargain downward until you both can reach a reasonable conclusion on the price. This makes negotiation easy because from the sellers initial offer, you already know the target price he/she would sell the product or service. Never be the first to call the price, you are a buyer and you cant dictate the price for the seller. Being the first to make an offer might offend the seller because most times, you may price below the accepted standard which might be seen as an insult to the seller. That can create a wrong foot to start your negotiation.

3. Be sincere about purchasing the product or services

Before a seller can take you serious and begins to bargain price with you, he/she must have seen that you are sincere and ready to buy. Many people go to market to price a product and walk away, pending when they have the money to purchase it. They just feel like asking for the price of things that catches their attention and this can be seen in how they bargain. But when you show sincerity that you really want to buy something, the seller will be at peace with you and you will reach an amicable price sooner than expected. Moreover, do not price different products at once when you can only buy one. A seller may be angry with you for wasting his/her time due to your insincerity and indecision. So before you approach any seller, have a clear decision on what to buy and what not to buy, be sincere and your negotiation will be smooth.

4. Be fair in your Bargain

Part of showing sincerity is to be fair with your bargain. A serious customer is known in how he/she reacts to the sellers price. Having conducted your market research as a buyer and you are ready to make a purchase, you should not waste your time or customers time by starting from a ridiculous low price thats no where close to the selling price. Such attitude can annoys the seller and he/she might not take you serious. Thats why you should save both your time and energy by negotiating from a fair point. For instance, a seller gives you the price of a product or service to be N15000. You started bargaining from N2000. Thats funny and absurd! It shows youre not serious. If its a service you want to buy from someone, he/she will feel insulted. Being fair with our bargains means we also put the sellers profit into perspective and that will give room for smooth negotiation.

Read: 5 Ways to Track Your Spending in 2023

5. Be friendly and polite.

Being polite and friendly is one of the way to create a peaceful and interesting negotiation. A good communication skills laced with a friendly and polite tone can make the seller to be at ease with you. If in your bargain, a seller dictates a price that is way more higher that your expectation, you don't have to be emotional and rage in anger. You should maintain your composure as you wont be forced to buy the product at that price. Most times, your gentle but wise demeanor appeals to sellers and they wont waste your time in a back and forth bargain. Being friendly and polite create a peaceful environment that can make the buyer and seller reach a quick compromise.


Everything in life has the best approach to achieving a good result. What we discussed above are in no doubt the best way to negotiate prices without having to spend the whole day or all of your time doing. One thing you need to understand that will guide you in negotiation is that, sellers of any product or services does that for profit. So as a buyer, inasmuch as you want to buy according to budget, you should also bear In mind that the seller will never sell at loss to you. So your bargains should be fair enough, to both your budget and your seller. If you don't want to be at loggerhead with sellers , always be fair enough so that both of you can reach an agreement faster.

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