What is Reasonable to Offer Below Asking Price? That seems like a legitimate question when dealing with sellers, right? 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 motivated 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. Don’t try to justify why they’re asking price is fair. You may even not even pursue the deal because they’re asking price is TOO HIGH. This all part of powerful negotiating techniques.
Sometimes, Not Knowing is Better
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 ridiculous asking price. Learn the ropes by studying Property M.O.B.’s Bad Ass Real Estate Wholesaling Training Program. The next time you ask yourself “What is reasonable to Offer below asking price”, come back to this tip and make yourself more money!
The MOB recommends a very good book about Negotiations. Its called “Never Split the Difference”: by Chris Voss. If you learn this skill of negotiating, then you’ll have the upper hand when it comes to dealing with sellers. Negotiating takes knowledge, skill and practice.