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Is It Time To Negotiate Your Next Purchase?

Over the past ten years, we’ve seen the proliferation of shopping websites all competing for our business.    There are websites where we can quickly compare the different prices from different vendors whether it is buying a television or a washer and dryer.    They say in life that everything is negotiable and I recently had a chance to see a new website called Netotiate.

Netotiate allows you to not only price shop a given purchase, but it actually allows you to go one on one with the vendor negotiating with them on that particular item.   The first thing you do on the website it to pick a product.  Netoitate not only shops for that specific item, but then gives you an opportunity to work with specific store owners who are willing to haggle on the price.     You give the price that you would like to pay for that item to the store owner and Netoitate will tell you the odds that they will accept the offer.   Your offer remains anonymous and you only have ONE opportunity to negotiate with the store owner.   Once you make the bid, it will be binding if they accept the offer.   Within 48 hours, the store owner will either accept, counter, or reject your bid.     You can only Netotiate with one owner at one time on the same product.

I tried a sample product by entering in the word television.   The first product that came up was a Samsung 26inch 720p 60Hz LED HDTV (Black).    Like many consumer shopping websites it showed ranges of prices from $247.99 to $360.99.   When I clicked the button to ‘name my price’ there were four vendors that were willing to actually negotiate on the price of the television.   I then clicked the button on the vendor with the lowest price at $247.99 and a button came up that would actually allow me to name a lower priced on the television set.    The process seemed really easy to me as my last step would have been to actually enter a price and see whether the store owner would take my offer.   The one thing to keep an eye on is that shipping showed up in really small fine print which needs to be factored into your overall offer for the purchase.

I don’t often blog about websites as new ones crop up every day on the internet.  I thought Netotiate was a neat one that could help you save some money especially if you have a knack for haggling.   So get out there and start making smart money moves by getting the price you want for what you buy.

Written by:

Ted Jenkin, CFP®, AAMS®, AWMA®, CRPC®, CMFC®, CRPS®

Co-CEO and Founder of oXYGen Financial, Inc – The Leaders in Gen X & Y Financial Advice and Services

Visit to www.oxygenfinancial.net to request a free consultation with the leading financial experts for people in their 20’s, 30’s, and 40’s in the country.

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About the author  ⁄ Ted Jenkin @ Your Smart Money Moves

Ted Jenkin @ Your Smart Money Moves

Hey!

My friends and family all think I’m a workaholic, but I say I’m just a guy that loves to help people do better in life.

My mother is still the only one that calls me by my real name Theodore Michael, my wife calls me Teddy, but for the rest of you it is just plain old Ted.

Ever since I was a little kid, I always loved money and being an entrepreneur. In fact, I still have cassette tapes of me talking to my grandmother at the age of five and my mother tells me all the time how much I played with money as a kid...

Read More About Ted Here

Ted Jenkin is a frequent guest columnist for the Wall Street Journal and Headline News Weekend Express. He is the co-CEO of oXYGen Financial. You can follow him on LinkedIn @ www.linkedin.com/in/theceoadvisor or on Twitter @tedjenkin.

Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. oXYGen Financial is not affiliated with Kestra IS or Kestra AS. Kestra IS and Kestra AS do not provide tax or legal advice.

The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra Investment Services, LLC or Kestra Advisory Services, LLC. This is for general information only and is not intended to provide specific investment advice or recommendations for any individual. It is suggested that you consult your financial professional, attorney, or tax advisor regarding your individual situation. 

Background and qualification information is available at FINRA's BrokerCheck website.

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