Motivated Seller Cuts His Own Throat - Posted by Randall Porter

Posted by SandyFL on June 26, 2001 at 20:24:58:

Good job Randy! And thanks for the reminder. I talked to a few partially-motivated sellers last week, and made a couple offers. I have to remember, they’re not dead leads until they are sold to someone else!

I am going out of state next week so I said the one offer had a deadline of June 28. What do you want to bet he waits till the July payment is overdue to call and ask if the offer is still good?


Motivated Seller Cuts His Own Throat - Posted by Randall Porter

Posted by Randall Porter on June 26, 2001 at 13:13:12:

When I was at the Lenders Conference in Atlanta, a potential seller called and left a message on our office voice mail about a house he wanted to sell. I called him back, got the particulars on the property along with his asking price, and told him that he was asking way to much for the house for us to be interested. He said he wanted around $45K, which is about 85-90% of full retail.

Well, he called back yesterday, and now he is MOTIVATED. We looked at the house, and asked him why he wanted to sell.He said he wants to move to Flordia and he wants to move NOW. Again, we asked him what his bottom line price was for the house. He said" Well, I wanted to get at least $40K for it originally, and I really don’t want to take less than $35K, but if someone offered me $30K, I would probably take it."
We called him back today, and offered him $26K. He then said he would settle for $29K. I think we will end up at around 27K. The point is, let the seller talk. The more they talk, the more they talk down their own asking price.