6 elements to RE Success

I like your elements i would like to hear your thoughts on the contractual and offer elements.

Once we know how much to offer for a property, we are ready to make the offer and write up the contract. The first thing we must ask ourselves; and answer honestly, is whether or not our offer will meet the seller's need. If not, perhaps we should consider a different exit strategy that will allow us to make an offer that will meet the seller's need.

If we cannot do this, we shouldn't expect the seller to accept our offer. However, we can still present the offer because; 1) maybe we haven't correctly identified the seller's need, and 2) the seller's motivation may override their needs.

When making offers through realtors, you must also consider the realtor's needs in presenting your offer as well. Most people would agree that the realtor's need is to get paid.

If you are using a buyer's realtor (your power team member) to do your presentation, you can still ask to be present when they make the offer. You want to know that your agent has the basic presentation skills necessary to sell the deal.

A contract is an agreement between two or more persons (individuals, businesses, organizations, or government agencies) to do, or to refrain from doing, a particular thing in exchange for something of value. Essentially is the elements of an agreement between two or more parties that is committed to paper to avoid confusion.

Contracts do not prevent lawsuits! Always remember, in the United States, anyone can sue you for any reason, at any time, and a contract cannot take away their right to do so. A contract can make it very difficult for the suing party to win, but it does not remove their right to trial. As my dad used to tell me, "Locks keep honest people honest." Contracts work the same way, they keep honest people honest. They also spell out your understanding and the other party's understanding of the terms of the agreement.

There is no one way to write a contract - there are many. If you are working with realtor, you will probably be pressured to accept the pre-approved contract that the realtor wants you to use. You are not required to use their form, but if you don't you could win the battle, but lose the war. In other words, they accept the contract the way you have it printed, but when they present it to the seller, are they going to talk positively about it?

Great words of advise. You are a great coach. I hear from students regularly about the good things yu say.

Thanks Harold you have been most helpful

No problem!
Happy to help!