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The Real Estate Show
Radio Show Notes 4/22/19 Monday: The Right Real Estate Method can Radically Change Your Results
April 25th, 2019 4:06 PM by Eric Willner
Read a summary of the show below or
The Right Real Estate Method can Radically Change Your Results in every way and on The Real Estate Show today we give you some true examples. It’s also another example how financial literacy is so important, and why we are featuring it during April which is National Financial Literacy month. Today we also brought back our very popular Four Pillars Training To go more in depth in the right real estate methods.
First recall that ast Monday on The Real Estate Show, radio host Eric Willner shared and contrasted the difference between “Method” and “Market”, and why it’s important to understand the difference. If you missed it, or want to review it, you can go to our Facebook.com/the Real Estate show site and listen to the replay of 4/17/19 show.
Assuming you understand the above, and now have identified your market and contacted some prospects, the right real estate method you use can make the difference between success and failure. Let’s also assume, for today’s show purposes, that you have already gathered information about the property, and spoken to the Prospect, who you have determined is a motivated seller. The next step, is to make and offer which has a high possibility of getting accepted.
This next step is where the rubber meets the road, and where many would be buyers miss out. You need to know what the sellers hot button is if you want to get your offer accepted. Many times, they will volunteer that information and it’s just a matter of putting together an offer that meets their needs. Unfortunately, that’s not always true, and some sellers play their cards very close to their chest, or they are just too embarrassed to admit what they really need you to do. Here is how we have overcome that dilemma with the right real estate method.
And effective way to make an offer to someone who is not completely transparent about what they need, is to give them options and give multiple options in your offer. When this happens, I will make three options available in my offer to purchase the property.
The first option will be an all cash deeply discounted amount, perhaps somewhere around 60 to 70% of fair market value. This is a big discount to reflect the benefit convenience to the seller for an all cash, as is offer.
The second option is a full price offer but with attractive seller terms for me, the buyer. This may involve an owner carry back mortgage, it may involve a rental, and then a purchase, or some sort of a lease option or similar. The price will be at full market Value, and the payment and/or rent will also be at full market value. The terms will be so attractive to me, that the price becomes secondary. The seller wins and gets their full price, and I win because I get very attractive terms.
The third and final option, would be a hybrid. This would be a slightly discounted offer with some special terms included. This ends up being the most popular option, but would not have been so attractive if it were not framed by the other two offers first using the right real estate method.
The first low price offer anchors a low number Which makes the other offers seem more attractive. But don’t be surprised, if someone who wants a quick and easy closing, decides to accept your first offer. Don’t argue, just take it and close! The high option allows the seller to win in terms of price, but they also learn to understand that there is a give and take in the negotiating process. It also makes you look more reasonable, and not just another lowball artist, which are a dime a dozen.
The offer phase is just one more phase in the whole real estate process, but the right Real Estate method can save a lot of time, a lot of frustration, and equally important, a lot of money. Do these things, use the right real estate method, and transform your life AND your business into the income source you dreamed of.
Listen to the whole show and fFind out more from today’s episode and learn more about Real Estate Investing and keep learning more of “ HOW” by listening to The Real Estate Show with Eric Willner , Live every weekday morning at 8 o’clock (EST) on Florida’s Money Talk Radio station WSBR AM740, FM 96.9, and FM 103.9. You can also hear us on the free apps: iHeart Radio and TuneIn. Recorded Rebroadcasts are available 24/7 on Facebook. Please share our Facebook updates.
Also listen to the rebroadcasts on demand on Facebook.com/TheRealEstateShow
Then check out these EXTRA cool resources:
TimeToFixMyCredit.com for Financial Education and Credit Improvement
AutomaticLandlord.com for Landlording and Real Estate Investment
MackBuysHouses.com for a fast cash offer on Real Estate
MackSellsHouses.com for great deals on Real Estate Investments
MackBargainHouseHunters.com to Partner on Real Estate Deals
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. You can reach Eric Willner at Eric@Ericwillner.com or 888-595-7779.