The Real Estate Show

Radio Show Notes 08/12/24 Monday:

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Real Estate is the I.D.E.A.L Investment! 

Make an Offer Like a Pro: Essential Tips for Homebuyers

Monday On A Mission: Transform Your Real Estate Game with Expert Negotiation Tactics!

By Eric Willner, Investor, Coach and Host of The Real Estate Show, America’s longest running daily radio show about real estate.

"Welcome to The Real Estate Show – South Florida’s #1 Real Estate Radio Show and America’s longest-running daily radio show about real estate. I’m your host, Eric Willner, also known as the Voice of Real Estate. As the founder of this show and the creator of The Automatic Landlord System for owning cash-flowing real estate profitably and hassle-free, I’m excited to bring you another episode of what is essentially a virtual real estate seminar in every episode.

Today is the ‘Monday On A Mission’ Edition of The Real Estate Show, and we’re continuing our journey through the Step-by-Step Guide to Buying Real Estate. This week, we’re diving into Step 5: Making an Offer and Negotiating. This step is where the rubber meets the road, and it's where a deal can be won or lost. Whether you're a first-time homebuyer or a seasoned investor, understanding how to make a solid offer and negotiate effectively is critical to your success.

[Theme Introduction]

Did you know that nearly 60% of homebuyers in the U.S. say they’ve had a deal fall through during the negotiation stage? That statistic highlights just how important it is to master the art of making an offer and negotiating. Today’s show is all about Real Estate Success: Step 5 – Making an Offer and Negotiating in the step-by-step guide to buying real estate.

Before we dive deeper, let me remind you of this week’s special FREE Workshops:

1. Tuesday at 8 PM: Path to Home Ownership Introduction – Online by Invitation. Text ‘PATH’ to 561-861-2366 to join.
2. Wednesday night at 8:30 PM: Financial Edge University Overview – Online by Invitation. Again, text ‘PATH’ to 561-861-2366 to secure your spot.

[Main Content: The Importance of Making an Offer and Negotiating]

Real estate requires skill, strategy, adaptability, and an unwavering determination to cross the finish line successfully. The road to financial victory may not be a straight path, but it's certainly an exhilarating one! So, why is Step 5 – Making an Offer and Negotiating – so crucial in your real estate journey?

Here are 10 solid reasons why I believe this step is pivotal to your success:

1. It Sets the Tone: The offer you make establishes your seriousness and sets the tone for the entire negotiation process.
2. It Defines the Financials: A well-crafted offer can save you thousands by ensuring you're not overpaying.
3. It Shows Your Knowledge: Understanding market conditions and comparable sales (comps) demonstrates your knowledge and strengthens your negotiating position.
4. It Builds Rapport: The negotiation phase is a great opportunity to build rapport with the seller, which can be beneficial if you need to renegotiate later.
5. It Puts You in Control: By making the first offer, you set the anchor price, which influences all subsequent negotiations.
6. It Tests the Seller's Motivation: The seller’s reaction to your offer will give you insights into their motivations and flexibility.
7. It Creates Opportunities for Concessions: Skilled negotiation can lead to the seller covering closing costs, making repairs, or offering other concessions.
8. It Mitigates Risks: Careful negotiation helps you avoid common pitfalls, such as waiving contingencies that could protect you.
9. It Enhances Your Investment Return: Getting a better deal on the purchase price or terms can significantly increase your return on investment.
10. It Concludes the Deal: Finally, negotiation is what brings the deal to a close – and in real estate, nothing is final until the ink is dry.

Let’s break for a quick reminder: Today’s show and better credit are brought to you by TimeToFixMyCredit.com. If you’re ready to build your financial edge, text the word ‘EDGE’ to 561-861-2366.

Now, let’s revisit the Top 5 reasons why Step 5: Making an Offer and Negotiating is so essential, using the S.M.A.R.T. Goals model:

• Specific: In the context of real estate, specificity is king. When you make an offer, you need to know exactly what you’re willing to pay and what contingencies you require. Vague terms can lead to misunderstandings and failed negotiations.
• Measurable: You should always be able to measure the success of your negotiation. Whether it’s the price reduction, the closing costs covered, or the repairs included, measurable goals keep you on track.
• Achievable: While it’s great to aim high, your goals must be achievable. Setting an offer too low might insult the seller and close off negotiations before they even begin.
• Relevant: Your offer must align with your broader real estate strategy. If you’re investing for cash flow, make sure your offer price allows for profitable rental income.
• Time-bound: Putting a time limit on your offer ensures that negotiations progress swiftly and that the seller doesn’t use your offer to shop for better ones.

[Mid-Show Sponsor Break]

And now, a quick word from our sponsor. Today’s show and better credit are brought to you by TimeToFixMyCredit.com. Remember, good credit is the key to unlocking great deals in real estate. Text the word ‘EDGE’ to 561-861-2366 to learn more.

[Continuing the Discussion]

Real estate success is not just about finding the right property; it’s about negotiating the right terms. Negotiation is where you can really add value to your investment, and it’s why this step is so critical. Let’s revisit the Top 5 Reasons why Making an Offer and Negotiating is essential:

1. Setting the Tone: A strong offer sets a strong tone for negotiations. It shows the seller that you’re serious and that you’ve done your homework.
2. Financial Definition: Negotiating effectively ensures you’re not overpaying for the property, which can make or break your investment.
3. Knowledge Demonstration: By backing your offer with data and market insights, you gain the upper hand in negotiations.
4. Building Rapport: Establishing a positive relationship with the seller can lead to smoother negotiations and potential concessions.
5. Controlling the Process: When you make the first offer, you control the conversation and anchor the price.

Before we move on, let me remind you again: Today’s show is brought to you by TimeToFixMyCredit.com. If you want to make the most of your real estate investments, good credit is essential. Text ‘EDGE’ to 561-861-2366 to start improving your credit today.

[Summary and Conclusion]

As we wrap up today’s show, it’s clear that Step 5: Making an Offer and Negotiating is a crucial part of your real estate journey. The ability to negotiate effectively can save you thousands of dollars and significantly increase your return on investment. Remember, real estate success is not just about finding the right property; it’s about negotiating the right terms.

Tomorrow, be sure to tune in for our Tuesday Tools, Tips, and Techniques Edition of The Real Estate Show, where we’ll dive into the practical resources and insights that can help you profit and succeed in the real estate world.

Thank you for tuning in today. Remember, don’t just listen—use our show to get started in real estate investing. And don’t forget to attend our free online workshops. Text ‘PATH’ to 561-861-2366 to join us this week. Have a fantastic day, and keep moving forward on your real estate mission!"

Also, you can listen to the entire 30 minute broadcast of any day’s edition of The Real Estate Show by clicking on the audio link on that days summary post. You can also watch the Facebook Live video at www.facebook.com/TheRealEstateShow.

Want to know more? If you are serious about real estate and paying off debt, then find out more on today and every day’s episodes and learn more about Real Estate Investing and learn HOW TO by listening to The Real Estate Show with Eric Willner , Live every weekday morning at 9 o’clock (EST) on Florida’s Money Talk Radio stations WWNN AM1470, FM 95.3 and FM 96.9. You can also hear us on the free apps: iHeart Radio and TuneIn. Recorded Rebroadcasts are available 24/7 on Facebook. Please share this and our Facebook updates.

Eric Willner is the Host and Founder of The Real Estate Show, an informative show about how to buy, own, and improve real estate the right way, on autopilot. - The Automatic Landlord way. (AutomaticLandlord.com) You can reach Eric Willner at Eric@Ericwillner.com or 888-595-7779.

Also listen to the rebroadcasts on demand on Facebook.com/TheRealEstateShow 

Eric Willner is the Host and Founder of The Real Estate Show, an informative show about how to buy, own, and improve real estate the right way, on autopilot. - The Automatic Landlord way. (AutomaticLandlord.com) You can reach Eric Willner at Eric@Ericwillner.com or 888-595-7779.

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