Get the latest views and opinions from some of the most experienced negotiation specialists.
Published: Apr 29 , 2019
Author: Brian Buck
Here’s one of the most common questions asked of buyers: “What’s your budget?” The most common answer? You guessed it: “I’m not going to tell you.” I get why this happens. Buyers are afraid that if they share their budget, then the seller’s quote will be exactly that number. We see it happen all the time, so I understand the fear. However, the alternative to not sharing the budget is that the bid process gets elongated, sellers get frustrated, and buyers don’t get what they want. Ironically, buyers eventually do share their budget, which is when deals typically get done. So, why go through all the pain? You don’t have to! Here are some different ways to answer that question.