The Real Estate Show

Radio Show Notes 08/16/24 Friday:

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Unlock Real Estate Success: Master the Art of Offers and Negotiation - Friday Wrap-Up

   By Eric Willner, Investor 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. It’s a virtual mini-seminar in every episode! I'm your host, Eric Willner, the Voice of Real Estate, founder of America’s longest-running daily radio show about real estate, and creator of The Automatic Landlord System for owning cash-flowing real estate profitably and hassle-free.

This week's shows have revolved around a vital theme: Real Estate Success: Step 5 – Make an Offer and Negotiate in The Step-by-Step Guide to Buying Real Estate.

Today, we're summarizing this week's shows and wrapping up the week to set you up for success in your real estate journey. It’s been a jam-packed week of insights, strategies, and practical tips to help you move forward with confidence.

Did you know? According to recent data, homes priced correctly and marketed well are still selling in an average of 21 days! That means the real estate market remains hot, but it’s all about playing your cards right. Making a smart offer and negotiating wisely can be the difference between securing a great deal or missing out entirely. This reinforces the importance of Step 5 in our guide, and why mastering negotiation is crucial to your success in real estate.

Before we dive into the meat of today's show, let me remind you of next week’s special FREE Workshops:

1. Tuesday at 8 p.m.: Path to Home Ownership Introduction – Online by Invitation
2. Wednesday at 8:30 p.m.: Financial Edge University Overview – Online by Invitation

Remember, we're in full "Challenge" mode with the 72-Hour Challenge, and you can join us NOW by texting "Challenge" to 561-861-2366. Don’t miss this chance to take control of your financial future.

Now, let’s get into the heart of this week’s theme: why NOW is the time to buy real estate. Making an offer and negotiating isn’t just about price—it's about understanding the market, knowing your financial position, and leveraging the power of real estate to create wealth. Let me give you 3 to 5 compelling reasons why this is critical:

1. Leverage Interest Rates: Even with fluctuations, today's rates are historically low compared to decades past. Securing financing at a good rate is key to long-term profitability.
2. Maximize Your Returns: By making a strategic offer and negotiating effectively, you can increase your return on investment and build wealth faster.
3. Opportunity Abounds: The current market offers unique opportunities for buyers to capitalize on distressed properties, motivated sellers, and emerging markets.
4. Wealth Creation: Real estate remains the IDEAL investment because it generates income, appreciates over time, allows for depreciation benefits, is easily leveraged, and builds equity.
5. Long-Term Security: Real estate is a tangible asset that provides long-term financial security and stability, especially in uncertain economic times.

Ultimately, the goal is to achieve financial freedom as an investor. To do that, you need a “B” (a business) to fund your “I” (your investments). The Real Estate Show can be your roadmap to get you there! BUT, you need to start NOW.

Many people get stuck in the role of an employee because they fear the risks of becoming a business owner. They lack a plan, and they feel overwhelmed by the complexities of real estate. But that’s where we come in. By listening to The Real Estate Show, we can help you get unstuck. We cover everything you need to know, from building a solid financial foundation to leveraging multiple streams of income.

As we wrap up this week, we’ve laid out the roadmap to safely create and keep wealth through affordable homeownership, a written financial plan, and multiple streams of income. It all starts with getting yourself organized, educated, and having a financial edge.

Today’s Show and Better Credit is Brought to You By: www.TimeToFixMyCredit.com. Remember to text the word EDGE to 561-861-2366 to get your financial edge today!

Now, let’s break down this week’s episodes and how they all tie back to our theme of making an offer and negotiating for real estate success.

Monday: Monday on a Mission

On Mondays, we set the stage for the week ahead, and this Monday was no different. We kicked off the week by diving deep into the importance of making offers and negotiating. The real estate market can be competitive, and being prepared to make a strong offer is essential to success.

Here are the three key points from Monday’s show:

·       Real Estate Success Theme: Focus on Step 5—Making an Offer and Negotiating in the step-by-step guide to buying real estate.

·       Importance of Negotiation: Highlighted the crucial role of effective negotiation in securing the best real estate deals.

·       10 Key Reasons: Provided ten solid reasons why mastering the offer and negotiation process is vital for real estate success.

·       S.M.A.R.T Goals Model: Integrated S.M.A.R.T goals into the negotiation process for strategic and measurable outcomes.

·       Special Free Workshops: Promoted upcoming free online workshops for real estate education and success.

1. Know Your Numbers: Before making any offer, you need to know your financial limits. This includes understanding your financing options, knowing your credit score, and having a clear idea of what you can afford. This preparation is crucial to making offers with confidence and strength.
2. Understand the Market: A big part of successful negotiation is understanding the current market conditions. Is it a buyer’s market or a seller’s market? Knowing where the power lies will help you negotiate better terms.
3. Get Pre-Approved: In a competitive market, being pre-approved for a mortgage can give you an edge over other buyers. Sellers want to know that you’re serious and capable of closing the deal.

This mission for Monday was all about preparation. Getting your ducks in a row before making an offer ensures you’re ready to negotiate effectively and secure the best possible deal.

Tuesday: Tools, Tips, and Techniques

Tuesday was all about giving you the tools, tips, and techniques to succeed in real estate. We continued to emphasize why NOW is the perfect time to make an offer and negotiate a deal, especially with the right tools in hand.

Here are some of the tools and strategies we discussed:

·       Understanding market value is crucial for making a competitive offer.

·       Always come prepared with a pre-approval letter to strengthen your negotiating position.

·       Set your budget and stick to it to avoid financial pitfalls.

·       Use contingencies wisely to protect your interests.

·       Work with a skilled real estate agent to navigate the complexities of the negotiation process.

1. The Power of a Comparative Market Analysis (CMA): A CMA helps you understand the value of the property you’re interested in by comparing it to similar properties in the area. This tool is essential for making a fair and informed offer.
2. Using Contingencies Wisely: Contingencies can protect you as a buyer, but overloading your offer with contingencies can make it less attractive to sellers. We discussed how to use contingencies strategically to balance protection with appeal.
3. The Art of the Counteroffer: Negotiation often involves back-and-forth counteroffers. We covered techniques to handle counteroffers effectively, so you can come out on top without alienating the seller.

By equipping yourself with the right tools and techniques, you can navigate the offer and negotiation process more smoothly and successfully.

Wednesday: Midweek Mortgage, Market, and Money Report

Wednesday’s show focused on the latest trends in the mortgage market and how these trends affect your real estate strategy. Understanding the current market conditions is key to making informed offers and negotiating the best deals.

Here are three key takeaways from Wednesday’s show:

• Mortgage Rates Are Easing – The current average for a 30-year fixed mortgage is 6.57%, but rates are expected to soften in 2024. Now is a strategic time to buy.
• Refinancing Opportunities Are Growing – With refinancing activity surging 35% in one week, homeowners are taking advantage of even slight rate drops to save money.
• Perception vs. Reality – Despite 59% of Americans believing we’re in a recession, the economy remains strong. This creates opportunities for savvy real estate investors.
• Workshops and Resources – Join us for our free online workshops and take control of your financial future. Text “Home” or “Edge” to [Your Show Text Number] for more information.

1. Interest Rate Trends: We discussed how interest rates have been fluctuating and what that means for buyers. Lower interest rates can provide more favorable financing options, making it a great time to lock in a mortgage.
2. Credit is King: We emphasized the importance of maintaining great credit to secure the best mortgage rates. If your credit isn’t where it needs to be, now is the time to work on improving it to position yourself for better offers.
3. Market Opportunities: We also highlighted current market opportunities, including areas where home prices are still appreciating and where buyers can get good deals. Knowing where the opportunities are can help you make better offers and negotiate from a position of strength.

Real estate is still the best vehicle to advance, whether you’re in the E (employee), S (self-employed), B (business owner), or I (investor) quadrant. Our market news shows that, no matter where you are now, real estate can be the key to moving forward.

Thursday: ATM – About The Money

Thursday’s show was all about the money—specifically, why NOW is the time to invest in real estate. We continued our discussion on making offers and negotiating, but with a financial focus.

Here are five key points from Thursday’s show:

·       Focus on Real Estate Success: Step 5 in the buying process is crucial—making an offer and negotiating effectively.

·       Importance of Timing: NOW is the ideal time to buy real estate, especially when equipped with the right financial knowledge and negotiation skills.

·       Rules of Money: Knowing key financial principles like the 1% Rule, the 4% Rule, and the Rule of 72 gives you an edge in real estate and personal finances.

·       Workshops and Community: The Real Estate Show offers workshops like the Financial Edge Academy and the 72-Hour Money Challenge to empower listeners with money-smart strategies.

·       Three Options for Real Estate Action: DIY with the upcoming Automatic Landlord 2.0, DWY with exclusive coaching, and DFY for deals offering high ROI.

·       Calls to Action: Engage with workshops, financial education, and credit improvement opportunities to achieve real estate success.

1. Understanding the Rules of Money: We reviewed key financial principles like the 1% Rule, the 4% Rule, and the Rule of 72, all of which can give you an edge in your finances and your real estate investments.
2. Leverage and Cash Flow: Real estate offers unique opportunities to leverage other people’s money (through mortgages) and create cash flow through rental income. These are powerful tools for building long-term wealth.
3. Financial Literacy: We talked about the importance of financial literacy and how understanding your finances can help you make better decisions when making offers and negotiating.
4. Multiple Streams of Income: We emphasized the importance of diversifying your income through real estate investments. Having multiple streams of income can provide financial security and freedom.
5. The Power of a Written Plan: We encouraged listeners to create a written financial plan. Having a clear plan can help you stay focused and make smarter decisions as you move forward in your real estate journey.

Today’s Show and Better Credit is Brought to You By: www.TimeToFixMyCredit.com. Don’t forget to text the word EDGE to 561-861-2366 to get your financial edge today!

So, there you have it! TGIF! Thank goodness it’s Friday, and thank goodness you’re financially prepared! Florida remains the best real estate market to invest in, and with the right strategies, you can secure your future in real estate.

We did it! Thank you for tuning in this week. Remember, don’t just listen—take action! Use our show as your guide to get started in real estate investing.

Tune in every weekday to The Real Estate Show, a literal seminar in every episode. Have a fantastic weekend, and we’ll see you again LIVE on the Monday on a Mission edition of The Real Estate Show!

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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