Why Over-Negotiating Hurts You As A Buyer
People often pride themselves on being brilliant negotiators by “beating the other party” and getting the best deal. However, over-negotiating can be a terrible thing, especially for the buyer.
Suppose you negotiate hard to bring the price down greatly of a product or service you want. You hammer them extremely hard and ultimately successfully manage to bring them down to the lowest price possible where they make just enough money not to go homeless.
You may come back thinking, you did great, but the question becomes, when someone is barely making any money on a deal, will they not be inclined to lower quality because they want to improve margins and justifying by thinking you haven’t paid them enough to deserve the highest quality work?
Alternatively, are there chances that the standards of customer service they provide are going to be much lower, because again, they don’t see this as a deal that does them any good?
What if the product or service is extremely crucial to you and fails you when you need it the most? What is the cost of that then?
In this scenario, although you paid a low retail price to get what you wanted, the long term cost you paid for the same would be humongous! Is this a successful negotiation, I think not!
While a deal can never actually be an equal win-win for the buyer and seller, a successful negotiation always has to be a win-win in the MINDS of both the parties.
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