A friend of mine put his house on the market recently. He and his wife are planning to move to Georgia to be near their grandchildren.
I asked if he’d had many prospective buyers look at his house and he said it had been pretty slow—only a handful of showings. He then said, “But we haven’t even found a house in Atlanta yet, so we’re in no rush.”
I responded by saying, “Good for you. That’s a good place to be. Low need, high power.”
“That’s for sure,” he said. “Just hadn’t heard it put quite that way before.”
But that’s exactly how it is. If you have to sell something—and especially if you need to sell it quickly—you weaken your position to some degree. You’re operating in high need, and you have low power.
Likewise, if you have to buy something, a particular thing, and/or need to buy it right away, your bargaining power is also lessened.
So it’s always best to position yourself as much as possible to be in low need. You can always take or leave an offer.
But how do you do that?
I think it starts with clear, well thought-out plans and having clear priorities. You don’t want to make rash, emotional or spontaneous decisions if you can help it. You want to make careful, well-informed, logical choices.
You also want to build reserves—of cash and credit lines. It simply enables you to be more flexible and less desperate.
This all takes planning, clear thinking and the ability to make good decisions.
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