Isn't always about the money

Too often when negotiating we get wrapped up in this mind set that the most important factor to the other person is the money. We think that when selling they are most concerned with getting as much as they can for their property or when buying that a low price is what they are after. While price is usually a major factor it isn't always the most important one.

The biggest deal I've ever done where price wasn't the main concern was when I purchased a 4 bedroom rambler in Sandy, Utah. I had purchased the house across the street previously and had become acquainted with the neighbor across the street. One evening he called me and said "Hey I want to sell my house to you." I said "OK, when are you thinking you want to sell it?" "I was thinking sometime in the next 2 days" he responded seriously. He didn't want to tell me why he needed to sell so quickly but the short of it was that he was going to loose the house in foreclosure and to make matters worse his father-in-law cosigned on the loan and he didn't want to have to tell him that he was about to have a foreclosure on his credit. I was basically able to give this family enough money for their first months rent somewhere else and take over payments on a house that had about a 30% equity position.

His MAJOR concern was 1-I need to save face with my father-in-law, 2-I need a place for my family to live. The price we agreed on was basically what he owed on the house.

The same principle was true when I was selling several big ticket items this past week. I came into several truck and trailer loads of STUFF and didn't have room for it. I sold a very nice pool table for 75% less than it was worth because I didn't have room for it. I had 18 large resturant style decorative lights that sold for as much as $300 each when new, I sold them all for $150 total! Why? Because I also needed to sell the trailer that they were being stored in and didn't have TIME or SPACE to store them.

When selling larger items in the past I have listed the item for slightly more than it was worth but then offered to deliver it. The people who take advantage of those offers are more concerned about MOVING the item than the PRICE.

Next time when negotiating remember that the other persons main concern may be time, space, convenience, sentiment, transportation, or other non monetary situations. You might find that some one will give you a better deal on their old car if they know you intend to restore it rather than enter it in a demolition derby. You might find a good deal because the wife wants it gone today, or that the person is moving tonight and can't take it with them, or many other motivating factors that have nothing to do with money.