Dave Ramsey Chapter 7
what are 3 good places to negotiate?
Estate Sales Garage Sales Flea Markets
It is acceptable to misrepresent the truth in certain circumstances while negotiating. t/f
False
The United States is one of few countries in the world where negotiating for every purchase is a way of life. t/f
False
With which technique will you most likely head, "I have to check with my manager"?
Good guy, bad guy
a technique used frequently by car salespeople when they want to "ask a manager"
Good guy, bad guy
Bargain hunting takes a lot of what?
Patience
It is a myth that these places have stolen goods
Pawn shop
Seven basic rules of negotiating are: always tell the absolute truth, use the power of cash, understand and use "walk away power", shut up, "that's not good enough!', good guy, bad guy and the "if i" take away technique. t/f
True
Silence is one of the most powerful aspects of negotiation. t/f
True
The power of cash is immediate. t/f
True
Using cash is an effective technique in negotiating because cash is visual, emotional, and has immediacy. t/f
True
What is not a characteristic of cash?
Walk away power
where does bidding on items occur
auction
What is paying a lower price for an item called?
bargain
What "thing" is emotional, visual, and has immediacy?
cash
a great place to buy and sell used clothes
consignment shop
The difference between an estate sale and an auction is that an auction is similar to a garage sale and usually the contents of the house are priced and put out for sale. At an estate sale, people bid on the item and the highest bid wins. t/f
false
Fast talking is not one of the three keys to finding a bargain? t/f
true
To win negotiation, you need to gather information about the other side's needs, wants, fears, and passions. t/f
true
What is it called when both parties benefit in negotiations
win-win
when negotiating, what kind of deal should you set up?
win-win
What is bargaining for a lower price called?
negotiating
The ability to leave if you are not satisfied with the price offered is called
walk away power
When negotiating, never:
Misrepresent the truth
Technique used to get something else just before closing a deal
"if i" take away
