I posted 25 of these in my town. I have gotten calls but all of them seem to be pretty High. I knew my area wasn't really the best place for despertate sellers with equity in thier house.
What do you do when there lowest price is too high?
__________________
Don't go by their price. Find out what kind of problem they have. Let them know that foreclosures are up and the price they think they can sell for is not the right price. Pull comps. What kind of questions are you asking them?
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Ask these questions in this order!
You will find their motivation
I've you don't find the motivation then politely tell the person you cannot help them and refer them to list with your realtor.
The seller HAS to !!SELL NOW!! In order for you to get a good deal.
There are motivated sellers everywhere in this country.
You just have to ask the right questions and stay in control.
Remember, its a buyers market! Cash is king!
Get er done!
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"In order for me to think outside the box, that would require me to acknowledge that the box actually exists. In my world, there is no box."
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may own a $100k property free and clear but they still want $100k
A seller will try and push you around, stick to your guns and tell them you are a business man and you make business decisions based on numbers and foreclosures are flooding the market and you can buy their same property for a lot cheaper right now. If they are motivated they will sell to you. If they aren't then thank them for calling and tell them to call back when they want to sell at a discount. NEVER try to make an unmotivated seller into a motivated one! Let them go and move to your next call.
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"In order for me to think outside the box, that would require me to acknowledge that the box actually exists. In my world, there is no box."
~Matt Larson~
3000 homes???
Always Looking to Acquire Houses | Always Looking to Amaze Investors
Luis, in that case. I will be calling you in a few minutes. We can buy up some properties where am at. I will be calling you shortly.
Thanks guys for yoru support.I used the question found in Dean's new book 30 days.
Two more question At the end of the call do you make an offer or say you will call them back? I have been saying I will look at the details (run on true view) and call them back and let them know. Alot of the prices they are asking are fmv should I still call them back or just let it go?
I plan to make 30 signs this time and put them up every where in putnam/westchester ny. I just need to find motivated sellers.
Luis. You will know whether to call them back or not by the tone of the conversation you've had with them. During the call evaluate what their motivation is and how motivated they are to sell. When you have been able to discern those 2 things, and they both point in a positive direction for you to negotiate a deal, then following up with them is absolutely in order. It's at that point you check your numbers and figure out what your offer price will be. If they aren't motivated, or are planning to stand firm on their asking price, thank them for their time then pack it up and move on.
Motivated sellers are out there, they just are sometimes hidden in places we may not immediately think to look. Stay positive!
Hi Clarsen,
Thanks for the great adivce. Unfortunatly most of my signs got taken down. Good luck though 4ft ladder at homedepot for $16 on black friday. If they want to take them down now they are going to have to work for it.
I find it interesting, when a home seller wants to sell their home and they paid $300k 8 yrs. ago and they expect the same amount in this day and age. All we can do is show comps and talk about the updating that needs to take place. If they still are not motivated we just have to move on. Remember our success comes from MOTIVATED SELLERS.
FYI: Try putting your signs out on Friday night and picking them up on Sunday night. See if this helps in keeping more of your signs. You’re doing awesome, keep it going.
Best of Luck!!!
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Thanks for the great adivce. Unfortunatly most of my signs got taken down. Good luck though 4ft ladder at homedepot for $16 on black friday. If they want to take them down now they are going to have to work for it.
Mike, you would be better off buying items from Home Depot or Lowes to make a sign hammer. You can get your bandit signs up in less time it would take to haul a ladder around with you. Check out the youtube link below to see the HOW TO.
http://www.youtube.com/watch?v=ahFHyUzioQo&feature=related
for the youtube link-pretty neat!
@ Mike: keep the info for the people that want to sell high and check back after 3-4 months; if their houses are still on the market, they'll probably be motivated then
Learning and progressing every day,
Valerie
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
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Hi Mitchell Thanks for the support. I will keep looking for new buyers.
Travis that is AWESOME. Wish I would have though of that your thinking outside of the box. I was just going to be the guy that walked around my county with a ladder and a bandit sign. Wish I didn't spend the money on the ladder and staple gun but I like your way alot better.
Val thats really not a bad idea. I was going to refer them to an investor I work with that is also a RE agent.
I dont have anything against bandit signs, i have used them before, but i found better results driving by the neighborhoods and finding empty homes with tall grass. Also, It is funny, but one of my real estate investor friends said he found a great home by just Driving while that same block had couple bandit signs. If the bandit signs are not working, maybe you need to find homes with tall grass in that same neighborhood and make the owner an offer.
Tom and Jeri
www.TuCasaInvestors.com
www.TuCasaRealtyllc.com