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rid of it, and I don’t have any reason to hold on to it. ” This per- son NEEDS to sell. Now we know the reason they need to sell, what they want for a price, and a good idea of the condition of the home. We also know something else from the address we got earlier. After doing comps and deals in the area for a short time, you’ll develop a knowledge of areas and what homes there sell for. So using the answers to these questions and the address, we have a quick idea of whether we can make this work or not. The better negotiator you become, the more money you will make in this business. So you want to practice and become comfortable asking questions and being a very good listener. Part of the art of negotiation involves asking questions and lis- tening to how the other party answers them. For example, let’s say that the address is in a neighborhood where you know that three bedroom, two bath homes like this one sell for around $100,000. This seller tells you that they lost their job and they have to sell, and they tell you that they want to sell for $45,000. You could very well be looking at your next deal! However, let’s say that they give you an asking price of $100,000, or $30,000, or $80,000. You have one more question to ask them: “ Is that price flexible? ” Yes, you’re trying to get a better deal, no matter how good the deal may already look. So you ask, “ Is that price flexible? ” It’s a question you ALWAYS want to ask, no matter what the price. The Rest of the Conversation and the Power of Negotiation
Example: You are talking to them about a house that is worth around $100,000, and they are asking $60,000. This looks like
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