If you have experience shopping at a flea market, then you also know how to effectively negotiate. The best hagglers in such venues know to fight for their interests while keeping the impression of a win-win deal intact.
The key to getting the price at the flea market is the 50% rule. When someone quotes a price, always offer 50% less (if you’re buying), or ask for 50% more (if you’re selling). This applies to freelance negotiations.
Another key is to never be the first one to quote a price. By keeping your cards close to yourself, you’ll always have more room for negotiation. Try to always politely get a prospective client to offer a price first.
An additional key to flea market/freelance negotiations is to know when to walk away. If you’re haggling skills aren’t making an impression on a client, politely thank them for their interest but assert that you cannot work for their quoted price. It can be scary to do this if you currently have no paying jobs, but if a client really wants your services he’ll give in. And you should never work for less than what you’re worth.
The last and most important key that we can learn from flea market commerce is the need to know what your price is. You should have a good idea of what skills are needed for a proposed project, and how long it will take to accomplish it. That way, you can immediately make a counteroffer if your client offers a ridiculously low price, and provide the rationalization for your figure.
Being a good haggler at the flea market will bring good finds at low prices. Being a good haggler at freelance negotiations helps you earn decent money for what you love to do. Do you have any effective haggling tips you’d like to share?