Negotiation Time: How to Negotiate with a Seller

Negotiation is a Powerful Tool

Negotiation is a powerful tool in the real estate world. Doing it
properly could significantly increase your profits. When working
with sellers, negotiation must only begin if they come up with a
number first!


In this episode, Blair and Jeff talk about various investment
business topics. Take note of the insights they have about
dispositions in the housing business. Gain negotiation skills and
discover resources to make sure you respond faster to all the
incoming leads.
Learn More Additional Skills for Running Your Business

Learn how to train acquisitionists remotely and what you must
consider when doing comps. Find out how to make sure you are on
track with everything in your business. Finally, acquire
knowledge about how real estate transactions work.


To listen to the full episode go to MoreDealsLessHustle.com


Mentioned Resources:


Zapier

Facebook Marketplace

Zoom

Realestate ABC

Ron LeGrand

Craigslist

Zillow

Mojo

Propstream



In this episode we covered:


00:01:07 – About who signs the insurance policy when buying a
subject-to

00:02:47 – About the reason for having lots of leads without
responses and what can be done with them, changing the name on a
Facebook page, and building the ad template manually

00:07:44 – Tips and insights into dispositions for owner
house business

00:15:05 – About providing an acquisitionist with different
work resources and getting them trained side-by-side and remotely

00:18:35 – How to make sure sellers make payments during 90
days after signing contract at closing and about who signs the
purchase and sales agreement first

00:24:24 – How to determine the ARV of a property, what to
consider when doing comps, and where to find comps

00:28:45 – How to handle sellers when advertising they can
close whenever they want

00:32:55 – How to negotiate with sellers when their asking
price is near estimated value

00:36:46 – Steps to take when you are not sure if the seller
is asking too much for their property, about how real estate
transactions work, and what happens if we default on an agreement

00:41:01 – MLS dated as public record?

00:41:28 – About KPIs and how to make sure you are on track
with goals in your business

00:44:01 – About how many leads need to be generated to get
three or four deals a month in the training program

00:45:02 – How to generate scarcity for the deals

00:47:02 – How to approach a seller who wants cash for his
clear-and-free property in a rural area and how to negotiate a
monthly payment with the seller if he is willing to take terms

00:53:50 – Time for the closing call after having agreed to
terms and having the video walkthrough

00:56:08 – What to offer for a free-and-clear handyman
special in Alabama, how to negotiate the monthly payment, what to
do if the seller mentions interest rate and exit strategy for
this deal

01:03:44 – How to proceed and negotiate with sellers who want
buyers to come up with numbers first

01:12:18 – Who must sign lawyer’s documents at closing

01:15:13 – Wrap-up and market update: business opportunities
with mortgages in forbearance



About Blair:


Blair is the founder and creator of Dealbot, a motivated seller
lead generation company. He has managed nearly $2mm in marketing
spend and generated over 100,000 motivated seller leads. He also
buys and sells houses himself in the Winston-Salem and Charlotte,
NC markets. In the past year, he has acquired nearly $3mm in cash
flowing rental properties with zero money out of his pocket.


Multimedia:


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Thank you for listening!