They say that sticks and stone may break your bones but words will never hurt you. They are WRONG this time!!
There’s something very powerful about a seller telling you what they’re asking price is on a house. It becomes embedded in your mind like a little evil monster, and sometimes it’s hard to shake it. You may find yourself trying to come “close” to their asking price even though it’s not a deal. You might try to justify why they’re asking price is fair. You may even not even persue the deal because they’re asking price is TOO HIGH.
That’s why I created this great sound bit about why it’s ok NOT to ask the sellers how much they want for their house. OF COURSE they want more than you’re willing to pay (in most cases) – so why do you even bother asking?
I can totally understand asking JUST to see if they have realistic expectations or if they’re BELOW market value right out of the gate. But their words could be very damaging, especially to newbies!
Listen to some thoughts about this topic in the SoundCloud file below, and then start to focus on what REALLY matters when you’re talking to sellers. THEIR MOTIVATION!
No doubt, it takes practicing in real conversations to get a sense of motivation from sellers. But you can start studying the behaviors of motivated sellers right now, so that you’re ready for them when they call.
You don’t want to let a $10,000 opportunity pass you by because of their riduculous asking price.
Learn The Secrets of Master Negotiating at The Gathering
Join us at The Gathering in Jacksonville FL on July 14th and 15th where you will learn exactly how to WIN more deals with Sellers, make BIGGER checks, and be fast on your way to the closing table.
When you leave, you’ll be a master of these topics:
- Gathering the pertinent Information that you need to analyze deals in 10 seconds or less
- What you should say to the sellers the first time you talk to them
- How to ask all the right questions to help determine their TRUE motivation for selling the house
- When to kill the small talk and set the appointment with the seller
- How to probe at the problem and get an accepted offer by your sellers in a mad fast way
- Why you shouldn’t use the condition of the house as a weapon as a negotiating weapon
- How to tactfully present your offers to the seller and make it an offer they can’t refuse!
- Magic lines to use to get the sellers to say YES and ones that will earn an extra $5,000-$10,000 every time
- Discover why you NEVER want the seller to accept your first offer
- How to present the contract without being intimidating
- How to disclose to the seller your intent to resell (assign) the property
- How to get full and complete access to the house so that you can show your buyers and what to do if you can’t get in
This is the real estate event that is going to change your business and make you smarter, better, and more money!
Reserve your ticket now, only a few left at early bird price!
I like it…Although it does contradict what EVERY guru hammers on. Which is, "NEVER SAY THE FIRST NUMBER"
But this definitely makes sense, THANKS Tracy!
We should always be moving in the opposite direction of the herd, Brad!
As a marketer working for people who own 300+ houses and myself personally responsible for hundreds of millions in sales, this is lunacy. Really disagree.
That is your right 🙂 But theres a big difference between a MARKETER and a NEGOTIATOR when it comes to dealing with sellers.
Totally disagree with this. It is the kind of 'don't engage your brain' sweeping and not thought-through advice that will see people losing tens of thousands of dollars.
OR it could actually make them ten thousand. Its all how you use the information to your advantage.
Thank you for this info Tracy. I have been going about it wrong in talking with sellers wasting time with their over-inflated idea of what they want for their house. I had one seller here recently that wanted $200K for a 3 Bedroom/2 Bath in an economy where the same comps are at $75K. So, 1) Sellers either don't really know what their property is worth, or 2) like you said, they think their house is worth more than it really is. Thanks for sharing your experience and knowledge with us. I look forward to learning from someone who knows what they are talking about, someone who has the experience and who has actually done the deals.
Thank you
Personally I seldom ask what they want. I might ask what they owe depending on how the conversation is going. Talk to the seller as an equal, that goes a long way in my opinion. After all we are all humans.. At the end of the conversation I say run the numbers and make the offer. If they take it that’s great, if they don’t NEXT!!!!