$384,961.42 for a house? When precise bids work and when they backfire

Making a very precise offer for a car or a house may hurt your chances of success if you’re negotiating with someone who has expertise in that area, according to research. Results from a series of studies show that precise bids – for example, $9,572.36 or $384,961.42 – are more effective with novice negotiators, who tend to interpret higher precision as a sign of competence. Experts, on the other hand, found moderately precise bids to be most persuasive….

Making a very precise offer for a car or a house may hurt your chances of success if you’re negotiating with someone who has expertise in that area, according to research. Results from a series of studies show that precise bids – for example, $9,572.36 or $384,961.42 – are more effective with novice negotiators, who tend to interpret higher precision as a sign of competence. Experts, on the other hand, found moderately precise bids to be most persuasive….