LOWBALLING.............by Steve Duhl 
Sunday, September 25, 2011, 01:43 PM
Posted by Administrator
When negotiating the settlement of a case or the purchase or sale of whatever it is you have to sell or want to buy, it is important to understand the concept of the lowball. The idea behind the lowball is that you really don't know what (for example) the other lawyer is willing to take to settle the case. You don't know how much the guy selling the Snapper lawn tractor is willing to sell it for. But, on the other hand, you don't want to insult them.

Offering $50 for a $1,000 lawn tractor might get you thrown off the seller's property at the business end of a shotgun. Offering $1,000 to settle an injury case might result in the lawyer you are making the offer to refusing to speak to you ever again about settlement because you are obviously an idiot. On the other hand, maybe the other side just doesn't know what they have is worth and/or really needs some cash...right now. Failing to lowball could be an opportunity lost.

My belief is that if someone makes you a stupid offer, you should ignore it. If you tell them the offer is stupid, they will probably feel obliged to stick with it and defend it. If you ignore it, the stupid offer never has to be mentioned again. (Buyer: "I'll give you $50." Seller: "Looks like it'll be a nice day, today.")

Two days ago, I received an email from Craigslist ....where my 2001 F150 is sometimes listed for sale. The email said just this: "3500". That was a lot less than I am asking for the truck. I responded to the lowballer by asking: "Does emailing a seller a lowball offer really work? Doesn't it happen that you end up making a trip to see what's for sale only to find out that the seller never was going to take your offer?" I was just looking for advice on successful lowballing.

I never got a response.

add comment ( 1 view )   |  0 trackbacks   |   ( 2.8 / 234 )

<Back | 1 | Next> >>