Maybe yes, maybe no. You have to take into consideration who your customer is, how they think, where they live, the type of house they live in, and the income they have. These things have to be taken into consideration when the question, “Is that your best price” is presented.
Are There Other Options To Dropping Price?
Now, I had to really think about this and I really hate giving away money so I will think about other options that I can always use. In this case I chose to offer a discount, which I hate doing in the amount of of $975 because of the labor that I could save actually by not going there twice to do some similar work.
Or I could offer another option. I could upgrade the paint and extend the warranty from 10 to 12 years, not offering a price reduction of price per se, but offering more value to the situation.
Sometimes when the question is asked, “is that the best price?” They really are not looking for a reduction, they just feel they have to ask it.
And as Justin says, “the best price compared to what?” This simple question back sort of defuses the conversation. And it is not brought up again.
I think the key is to not be on the defensive about your pricing, but to know that you’re pricing is good. But always have options available to you so that you can negotiate when you have to so that everyone wins.
Set yourself apart from being a commodity in your industry!
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