Low-Ball Offers Without Offending the Seller? [
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- Опубликовано: 25 апр 2015
- www.biggerpockets.com/askbp006 - When you buy real estate, you need to get a GREAT deal. However, if you offer too low, you risk offending the seller. So how do you submit a low-ball offer without offending the seller? How can you snag a great deal without ticking off the seller? In this episode of the #AskBP Podcast from BiggerPockets, Brandon Turner addresses this question and leaves you with a killer good quote!
Хобби
Never ever tell the Seller you are trying to make a profit off them.
I use this method:
1. I express how much I love the property
2. Make a low ball offer
3. Listen to them complain
4. Explain costs they haven’t considered I will have to bear (while expressing how much I love the property)
5. Listen to them complain
6. Tell them you’re having trouble understanding how they got to that number and if they can help you understand
7. Be prepared to walk away
Do all this with a playful demeanor and constantly talk about how much you love the property. Do not talk down on the property.
8. If you walked away end the meeting by becoming a friend w them and thank them. Tell them to keep you in mind if they reconsider.
9. Check back in every month or two as a friend and slide in a question about the property… if they still got it
10. Close the deal
Boo Hoo Hoo! Sellers getting their feelings hurt on lowball offers. Don't like the buyer's lowball offer? Reject it and move on to the next buyer.
Good stuff Brandon! Thanks for the quick post filled with good tips. Much appreciated!
Really helpful ways to frame the conversation. Thank you!
I enjoyed and appreciate your Knowledge.
Jide
great videos, I like these style of videos!
Great post! This reflects some of what I've learned so far, but the reverse psychology is a great twist that I haven't heard yet. Thanks for sharing!
Thank you yeah so needed this one
I wholesale houses and before I give them a number a walk them through the flip formula and slightly over-inflate the repairs number to build in my wholesale fee. So that way I shift the blame on the repairs and the mathematical formula works out in my favor. Anybody else?
Great Video!
10% lower seems to be an average.
Nice video, these are still effective techniques today.
thanks! I am about to call a seller now and use this tactic
I don't worry about offending and I always let them know before I throw out a number it is what I came up with to make it work for me. Had a investor hang up on me recently because I thought we were talking about a different property and offered a crazy low price on the wrong property. Helps if we both speak English well so that mix up wont happen. So lost that lead but gained a better lead. Most of my properties came from Auctions so you know exactly what your paying when it ends.
I seriously never understood why people get so offended by low ball offers. It's just business people. And instead of telling me to F@#$ Off, maybe counter offer like a sane person or say no thank you. The people that told me to F#$%& off didn't even get to find out how high I would have gone.
Omg, I have always felt the same way. Even when I'm selling things and I get lowballs it never bothers me. I like to do it,because sometimes you get amazing deals.
Some people are just sensitive
Some offers are hilariously ridiculous lol.
CheapOs I never accept those low ball offers and when they counter I reject that offer as well!
I just lowball with no fucks given
LOL I have to learn how to do that.
Really???okkk!
Nice man Jedi mind tricks... (but when you are making offers through an agent you have to go through their drama, bias and inexperience of investing and they are first line of communication to reach seller. (So pick a smart agent that understands investing ) do not tippy toe around an agent .. and do not get in any contract with agent as a buyer.. ).
lots of information Thanks.
Joyce
I like that quote 👌
I always learned not to ask in a negative. If someone asks me if I wouldn't be interested I tend to agree with them that they are correct.
I need a Wisconsin purchase and sale agreement
Can I blame it on my wife?
ofc
😂😂😂I blame it on my husband
lmaooooo
😂😂
I got a good question. A property we wanted got a different lower offer accepted we found out the seller realtor bought themselves to upsell for more over $100k. We still want the property it is not worth what they crazy listed it for. It's farm property. Should we put in a low offer? It's been a year since. We want to offer a little higher then what they had it listed for last year. We want to keep it farm property not develop it.
You want to structure the deal in a way that looks like you are being accommodating and fair for both parties. Here’s how I got my house even though the list price was outrageously overpriced:
-I paid cash
-Used the comparative market analysis to prove they were overpriced
-The house was on the market for nearly a year with no takers, so I had a little leverage
-I offered my full offer price as earnest money down
-I offered to pay my closing costs in full and offered to pay theirs in full
-I told them they didn’t have to professionally clean the house and that they could leave things behind if they didn’t want to take it with them
-Offered to let them pick the closing date and title company
-Info-only inspection contingency, so no asking for repairs or credits
-title contingency
I got 30% off the listing price!
I would never set someone up to reject your offer any easier than it might already be. Don’t say “you wouldn’t consider that would you?”. No. Make an offer and be confident in it. “Is that something you would consider? Or be able to work with?
Offending the other person is must
Mentions Jim Rohn, gets a sub.
So... treat them like a kid? ....Idk😐
So, it’s just a number to the investor, but it should be explained to the seller that a profit must be made to feed the buyer’s family? What about the seller’s family? Since most of these strategies are aimed at distressed sellers to begin with it sounds quite callous to even talk about making a profit at seller’s expense. Why is it always the profit of the buyer that is more important? What happened to win win?
Debtors and borrowers are losers. Cash is king. No free lunch
$20k less than asking is not a lowball offer
It's relative. If the asking price is $20mil, $20k is nothing....but if asking is $40k, then $20k is a lot.
You should look up the concept of percentage.
It’s a low ball offer
Blame it on your religion why don’t you.
These tips aint happing
Taking advantage of someone is Not a game. It’s disturbing that for example, you would be blissfully happy that your seller is a grieving low income elderly sick person who needs cash to survive. You are greedy and selfish. All of you. I would never ever do such a think. You don’t even think that someone may do this to Your parents?
why are you here?
Take the “mathematical” thing for you and go find a lowball house with your “mathematical” lowball offer 😂. This video sucks.
"If they're asking $80,000, how do you offer them $50k?", you don't. Find something in YOUR $50K BUDGET. Ridiculous
Maybe the property is not worth 80k
@@kirisutegomen12 the title of this is low-ball offers. Acknowledging the value, yet making an offer considerably lower than said value. Otherwise the title would be "making a FAIR MARKET OFFER".
@@lorig2828 Salty