Posted by Charles on March 27, 2005 at 10:55:36:
Welcome to the “real estate game”. I am glad I am not where you are, there is just so much to learn and great fears of making mistakes and of being taken advantage of my people selling books and tapes.
I have been doing real estate for about 35 years. I love it and have gotten very good at controlling real estate for a profit.
Here are some suggestions;
Make “TRIAL OFFERS” A trial offer is an offer you make verbally to a seller on the phone.
The purpose of the trail offer is to get to the seller’s base line price. He may offer the property to the public at $100,000 because he has heard that “You can always come down, so the selller offers it a little higher!”
A trial offer will, if done properly will get you closer to the sellers real price need.
So, when communicating with the seller, always ask permission to get information, " Is this a good time Mr. Seller to get some information on the property?"
Chat for a while about the property and the sellers needs.
next: TELL YOUR STORY…A story is your way of letting the seller know who you are and what you are trying to accomplish. Tell the story that fits your needs, but always include the following elements;
- Fair and honest process of negotiating…
- Your need to make A LITTLE PROFIT
- Buying real estate for your family trust or
retirment. - Some personal informatiion about yourself
"Mr. Jones, thank you for the property information, we have been buying real estate for ______years, we look to make a little profit on everything we purchase, we believe in the fair and honest process of negotiating, I am buying for personal retirment or for our family trust. I work at ABC Company in the accounting dept.
Telling a story about yourself and your intentions will help you toward winning favor with the seller. People like to do business with people they like. So be likable. So many buyers interrogate seller with rapid inpersonal questions…be different. Be nice.
Now for the trial offer; Mr. Jones, I am sure you feel your property is worth every penny of $100,000; if I could close quickly, with no commission and no settlement cost and in “as is” condition, would you consider accepting $80,000?
He may say no, but he may also say no, but would accept $90,000.
The purpose of the trail offer is to smoke out the sellers true base line price.
Sorry for the long answer, I hope this will help you in some small way…
Charles
investorsuntied.com