In this special episode of Escaping The Real Estate Investing Newbie Zone podcast, Chris Bruce talks about an issue which happens frequently when talking with sellers. They say in sales 101 whoever is first to say their number loses. This is the reason why most homeowners (sellers) will never give you their asking price when you ask them. Now being in the business for 9 years we’ve been able to develop a strategy which gets sellers to give us their asking price 9/10.
Want to know this strategy? All you need to do is when a seller is reluctant to give you their asking price say this.
“Well Mr. Seller I know you don’t have a price in mind, however I know you wouldn’t take (insert low ball offer) for the property right?
What this does is first it gets you on the side with the seller. Because he/she agrees with you that they wouldn’t ever take that low of a price, then it gives you the opportunity to say well now that I know what you wouldn’t take, what’s a ball park price you would take, or looking to get for the property.
This works like crazy. So make sure to use it next time when talking with a seller.