What’s going on, fellow real estate investors, this is John Coming at you with the final video for negotiation in the sales, a theme that we’ve got going on for this quarter and we’re going to be talking a little bit more about that, but first, make sure you’re following us on Facebook, on twitter, on the podcast that we’re putting out on the Facebook group for Andy and his team with the Roanoke real estate education group. Make sure you’re checking them out and getting involved in taking action in your business with them and also on our blog. Make sure you’re following our blog to get all the latest content that we’re putting out in the action steps, action plans that we’re putting together a for the week and for the month overall. And then as that leads up into the live training event that we were going to be putting on an every single quarter for you guys.
So with that, let’s get into it. So we talked already about a couple of different items that deal with negotiation. You know, begin with the exits in mind as you’re getting started. We talked about being prepared for an offer, all the things that need to do and you’ve brainstormed a couple of items from your action steps for each of those are you going to do DIY, you’re going to do done for you solution. And again, that’s all about posture. So this one’s all about posture but a little bit more actionable for you. And I’m going to give you a kind of a three step process that might seem silly and I find it absolutely hilarious, but it absolutely works and you should definitely just go try it just to go haggle with somebody at a fully market or something like that for sure, but it kind of goes a little bit like this.
And so the topic for this one is just a counter with questions. You’re going to give him a counter offer for sure, but more immediate it either right when they call you to confirm or, and you’ve already looked, maybe looked over the offers are calling to confirm you or immediately follow up within half the time or even a little bit of a time that you are expected to give your counteroffer just to talk to the person about the offer itself before you actually submit anything back. So, the quick three step process, so it’s the grimace, the long pause and countering with a question. So let’s say someone comes up to you, you’re selling a house for 120,000, and it’s a nice house. You flipped it, you’re getting ready to sell it, and you have some other investor that took some course. It’s going to just come in with a really, really low ball offer overall. And they come in at, you know, let’s say 60,000. They’re coming in at 50 percent even though you just put all your time and effort into it, even though you got a good deal on it, you’ve upgraded it, you’re getting ready to sell it. And they come in and say, Oh, I’ll offer you $60,000,
Wait for them to say something for sure. But once I do say something, you can then follow that up with, you know, with all the work that we put into it in, in all the evaluations that we did, you know, our offers at 120. How’d you come to your number?
And so for them it actually puts them back on their heels. Now the ball’s back in their court to think about, hey, did I really think through this offer? Maybe am I just throwing stuff out there? Am I going to be taken as a serious investor if I’m just throwing out offers or do I actually have a system for actually coming up with an offer? If you have a system that comes up with an offer that’s like that, maybe you have that person has data that that you don’t. Maybe you have data that that person doesn’t. When you’re coming in with that offer, trying to get it at a either selling it at a premium price or making sure you’re getting it at the best possible price that you can, the lowest possible price that you can make sure that it fits within your model.
Maybe that’s all you’re doing and this is just an investigation thing. And for you, yeah, you’re putting in that one offer that may seem like a low ball offer. I know that I put in low offers all the time for people because you never know what their motivation is overall. And that’s okay. So again, counter with questions. What other, what other questions could you possibly come up with to get back inside the person’s head so you don’t have to think about it so you don’t have to go, yeah, let me do this, you can just come back to them and say, you know what, how did you come up with that number?
You know, if your profit margin was x, you know, how would you adjust to it, you know what other offer could we actually make to, to make this deal happen? If it’s too low, maybe there’s something else that they can add to sweeten the pot a little bit and make them come up with something that’s a little bit more and start anchoring that number of higher and higher, you know, put it back on them to really think through and get to the number that you have in your business model because at the end of the day, again, you’re prepared. You have great posture when you’re getting ready for this. And the last thing is you can always walk away. So counter with the question, always counter back with a question when you can. And then once you’re just kind of solidified and some of that and you can counter the offer back after you’ve gotten some feedback from them, that probably makes more sense.
You can stay at that offer, you can do something else, but the more you can get person in a dialogue rather than just submitting paperwork back and forth, whether it’s the agent or whether it’s the actual person is always going to treat you a little bit better than that with that this is John signing off for a negotiation in the sales section, for this quarter be on the lookout. There’s going to be a live event coming up. Make sure your butt is in the seat. Make sure you’re following us on all the social media that’s out there. Follow us on our blog. Andy and his team in Roanoke real estate education group. They’re also putting together live events every quarter as well. Do not miss those. Those are critical. They’re crucial to getting more information.
You know, again, we’re feeding you a little bit, but if you can take time with some of the people who are in the trenches doing deals right now, giving you life advice and then being able to turn that around with you. Actually being able to possibly get deals, take action in those live events themselves and come out with not just possibly, you know, better knowledge, but actually having stuff that’s already set up for you in your deals as well as making stuff happen. Well that. This is John signing off and we’ll see you on the next series. Take it easy.