If your buyer is doing their job, they will push you to lower your price. In a competitive situation, you may be required to do so. If you can afford it, then lowering your price is perfectly acceptable … if you do one thing.
If you lower your price, you have to ask for something in return. Think about it from a buyer’s perspective. If you ask for $10 and then lower your price to $8 without any other modifications, aren’t you basically saying: “I can afford to sell this at $8, so I was trying to rip you off before at $10.” Yeah, I know its part of the game, but how about changing the game and developing trusting relationships with your clients?
If you lower your price, take something out of the deal or ask for something in return from the buyer. When you take this action, your customer will immediately look at you with respect. Let them know this: “I was offering the best price possible. I’m happy to lower it if we can make some concessions or modifications somewhere else.” Most people are happy to get creative with you, and you’ll begin a relationship based on two-way respect. Also, they’ll always know in the future that you’re giving them the best price you can.
