Negotiating, Follow Up & Making Offers
Negotiating & Follow Up
Small Town Profits Audio: Negotiating & Follow Up
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STP Module 4 Negotiating & Follow Up - Download Transcript
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Notes:
“Learning how to sell.” An important skill in life.
#1 skill in sales – asking questions.
Recommended Books
-Author Jim Rohn
-Steven Scott, Lessons from the Richest Man Who Ever Lived.
-Grant Cardone, Sell Or Be Sold.
-If You’re Not First You’re Last
-Never Split The Difference.
-Never Be Lied To Again
-You Can’t Teach a Kid to Ride a Bike at a Seminar by the Sandler Sales Institute
-Go For No
Negotiating With Realtors
How To Get The Realtor’s Mobile Phone Number
-You’ll want to identify the Listing Agent.
-Virtual assistants can email agents and help find contact info
-Search online: MLS, Zillow, express.realquest.com (“For sale” tab), Google (Realtor – name and name of the company and the word “cell” and “mobile”)
-Call the office.
You: it’s Larry, Larry Goins. Hey, is Bob around? Bob Smith. Is Bob around? Bob Smith.
Assistant: She’s going to say something like he’s out in the field.
You: Oh I really need to get up with him and I don’t have his mobile number with me
right this second. (wait)
How To Leave A Message For The Realtor
-Voicemail message: Hey Bob, it’s Larry, Larry Goins, how you been? It’s Larry, you should know who I am. In case you don’t remember, Larry Goins, how you been? Hey man, I need to get an offer to you on 125 Oak Street, hit me back as soon as you can. Oh,
if you don’t have my number handy, here it is.You should have my number. In case you
don’t, here it is.
Realtor Calls You Back
Realtor: Are you an agent?
You: Hey Bob, it’s Larry, Larry Goins, how you been?
Realtor: Good, do I know you?
You: No man, but you’re going to, right? Yeah, I need to get an offer to you on 125 Oak Street.Tell me a little bit about it.
Realtor: Oh you don’t have an offer?
You: No, but I’m going to get one to you today.
How To Price Condition The Realtor
-(House. Asking $50k. You need to be at $25k).
-You: We buy a lot of these little houses. Unfortunately, I can’t really pay a whole lot for them. Little house like that, we would probably need to be somewhere in the low to mid 30s, something like that. In fact, the last house we bought, very similar to this, I think we paid 26 or 27, something like that. It was a bank home property Do you get many listings like this?
List Of Questions To Ask Realtors…
-Did I catch you at a bad time or is this ok?
-I was call about XXX can you tell me a little about it?
-Is it a blower upper or fixer upper?
-How much work does it need?
-How long has it been on the market?
-Have you had many offers?
-How is the market there?
-Would this be a better rental property or retail?
-Do you get many listings like this?
-Do you have any other properties I need to make an offer on?
Working With A Realtor
-The Realtors we work with love us because…
-Based on what you are telling me, it looks like I probably need to be around…
-Based on what you know about this seller and the property would you like to email the asset manager (or seller) and let them know that you have a cash buyer in this range?
-Do you mind if I get your email address so I can buy more houses from you?
-Do you have an automatic email notification list you could put me on?
When A Realtor Brings Us Too Many Things That You Have To Do
“This just doesn’t sound like a deal I’m going to be interested in, I have to jump through all these hoops. I can send you a bank statement that shows I can buy 30 or 40 of these things today. But if this doesn’t sound like I’m even anywhere near the ballpark, am I just wasting your time?”
Your goal with your first offer is to get a counter. Your goal is not to buy a house for that first number. Your first offer needs to be below what you can actually pay for it. It’s very important when you follow up with a Realtor in a week.
When There’s No Counter Offer To Your Offer:
Realtor: “No, they didn’t even counter.”
You: Look I know I know I’m not going to buy it for this, but they’re not going to sell
it for this. Why don’t they send me a counter and let’s keep the negotiating going so in 30 days we can all get paid? Because if they don’t send me a counter, it’s a dead deal, we’re dead in the water. Let’s keep this thing going so we can all make a little bit of money, how about that?”
Making Offers
Small Town Profits Audio: Making Offers
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STP Module 4 Making Offers - Download Transcript
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Notes:
The three most important things in real estate? Make offers, make offers, make offers.
Your speed to income is directly proportional to the number of offers that you make.
Your marketing and your strategies are going to change based on the economy. Even in a hot market in a small town there’s still a decent amount of inventory.
Realtor Written Offers – Have a VA Submit Offers
1: Either Shotgun or Rifle
2: Based on % or ARV & Repairs
3: Scan, Fax, Email Offer
4: Follow Up Call and/or Text
Automated Offers Through Realtors
Your Realtor Makes The First Offer For You!
They Submit The First Offer
They Send You The Counters
Dealing with individual sellers, making offers
-Use the One Page “standard” Offer.(No closing date, good for 60 days, automatic 30- day renewal)
-Get them to sign within 2 hours of agreeing.
Ways to get the contract signed
1. go see them
2. mobile notary (NSSNOTARY.com)
3. docusign, right signature, etc.
4. email to sign digitally using “sign now” app.
5. email to print, sign and scan back using scannable app
6. overnight with return overnight
7. snail mail
After you get the contract signed…
-Arrange for access to the house to take pics.
-Find out when it will be vacant if occupied or if they have anything in the house they want. Put a lock box on the door if vacant. Now you can show it anytime you want.
-Only show it to people who are cash buyers and send you a copy of their driver’s license.