If you always pay the asking price for everything you buy, you’ll be amazed at how often you can negotiate some of those prices down to a more acceptable level. And even when you don’t succeed, you’ve lost nothing by trying.

There’s an art to successful negotiating, though, so keep these tips in mind before you get started:

Don’t Be Afraid to Ask

Have you ever seen a store sign that says, “We’ll be happy to negotiate a lower price with you”? Of course not. Stores will be happy to have you to pay full price, so they’re not about to advertise any willingness to bargain. That means you have to ask. Ask the salesperson about reducing the price on a specific item you’re interested in. If he or she doesn’t have that authority, ask to speak to the manager. Be persistent, but …

Be Polite and Diplomatic

The surest way to doom your chances of success is to make arrogant, my-way-or-the-highway demands. Merchants being human, they’ll resent your attitude – and there goes any chance of getting a deal. Instead, bring a polite, diplomatic manner to the counter. The folks behind that counter will be far more likely to consider your offer.

Don’t Start by Low-balling

Perhaps you’re not sure of the true value of an item but still would like to bargain. Fair enough, but try to avoid the trap of low-balling; making an offer that’s ridiculously low. Instead, do some online research, check newspaper ads, or call some other stores that carry the items. That way, you can be sure your initial offer is at least realistic.

Compare vs. the Competition

Is the store’s competition advertising a better price? Bring along the proof – a newspaper ad or a printout from an online offer – and ask the salesperson or manager if they’re willing to meet or beat that price. This approach often works because the merchant gets a chance to kill two birds with one stone: He gets your business – and the competitor doesn’t.

Make the Transaction Easy

Once the merchant has agreed to a deal, show your appreciation by doing whatever you can to streamline the process. Pay in cash so that the merchant can avoid having to pay check or credit card processing fees. If you’ve purchased a large item, pick it up without delay; bring friends to help if necessary. The merchant will remember you favorably – and might be even more willing to negotiate next time.

You want to buy; the store wants to sell. Particularly in these difficult economic times, negotiating for a better deal is hardly a sin. On the contrary, it’s just smart shopping – so go for it!

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