From the course: Real Estate: Negotiating with Sellers
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Effective steps to take for negotiating
From the course: Real Estate: Negotiating with Sellers
Effective steps to take for negotiating
- [Instructor] Let's move into some effective steps for negotiating. How you could move from one situation to the next situation in an orderly series of steps to create a desire result. Well, number one, whenever you enter into a negotiation know your starting point, know what your property is worth, know what the rehab would cost, understand the facts around where your bottom line came from, and then be specific and strong in your bottom line. Know where it is. Understand that if it doesn't work for the seller, that's okay, you're willing to walk away and remain friends. But know your starting point and know your bottom line. Number two, once you know your starting point and bottom line, you must know the seller's emotional triggers. Here again is a trap if you're not careful. Many new investors will go into a negotiation assuming somehow that the most important factor to the seller is the price of the home.…
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