It is easier to make profit if specific price is offered

In the negotiation, if the seller proposes the price with a specific number, it will make the buyer more acceptable.

The study was conducted by Professor Malia Mason and Daniel Ames at Columbia Business School. In the experiment, the researchers set up 1,254 fake negotiations, simulating everyday situations, such as buying and selling jewelry or car sales deals.

Artwork: Happyselling.org

Some participants are required to propose a starting price of $ 5,000, while others start with a specific price of $ 5,015.

As a result, people offering a specific price of $ 5,015 receive much attention, and are more easily accepted from buyers than those who offer a $ 5,000 rounding price.

According to the researchers, when the seller proposes a specific price, the buyer will have illusions that the seller has carefully calculated before making a decision price, so there will not be many opportunities to adjust the price anymore .

However, this negotiation tactic has not yet been widely used. In a survey on Zillow (a real estate market site), researchers found that most people round up the price, only 2% of people give specific prices for their homes. they.

"You should use a specific number when negotiating, to imply that you have carefully calculated and made buyers more acceptable , " Mason advised.