Wednesday, October 30, 2019 / by Gianfranco
You’re selling your house by yourself, you get an offer and now you want to start gathering intelligence about the buyer’s motivation…Where do you start?
Today we're going to talk to you about something that's really important, especially if you're planning on selling your home as a for sale by owner and not using a real estate agent. You want to make sure that you find out what your buyer's motivation is. You've got to find that information out in the negotiation.
Just like how your motivation is extremely important and you want to keep that confidential. It's just as important to know the motivation of the buyer who's purchasing your home. If they're tight on time, if they have to be in a house at a particular time, or they have unlimited budget, then that will work for you, right? You want to know those things.
So, if you're selling a home on your own, then there's certain questions or there's certain ways of finding out why the buyer is looking for a house, right? Or if you're working with an agent, then you need to work with an agent that's trained to understand what questions to ask, to understand the kind of body language or the actions of a buyer that will help them better understand what the motivation of the buyer is and how much they can push them.
There's a science that goes on behind this negotiation. It's not the way most people think. A lot of the negotiation, it's done in a very basic level. It's basically they're like messengers, or almost like an e-mail, where they say, "okay, Mr. and Mrs. Buyer, this is what the seller says", and then they go back and say, "okay, this is what the buyer said". So, they're just messengers.
But a good broker or good real estate agent or negotiator does a lot of negotiating in the background, and basically figures out the buyer's weaknesses, the motivation, the real reasons, what's important to the buyer. It's not like they would have to gather this intelligence through conversations they have with the buyer or the buyer's agent.
So, it's important for you to understand there's a science that goes behind this, and make sure the agent you interview or hire to sell your home, has a good track record for negotiating, because we've seen a lot of times, sellers leave thousands and thousands of dollars on the table, because they have a weak negotiation tactic.
Selling is an art. A lot of people are messengers. That's easy to do. Anyone can do that, right They've got messenger bots and all these automated systems now that can do even a better job than that, but for us, our team, our business, our business model is always educating ourselves. We spend thousands of dollars on coaching and training. We're part of one of the best Craig Proctor coaching system out there that trains the top real estate agents in all of the world. And also Grant Cardone Sales University.
So, we're big believers of these gurus and learning what the science behind it is. And by the way, when we say motivation or asking the right questions, no one is tricking anybody. We're trying to find the best common ground for two parties to make both of them happy, because what buyers are looking for are homes, and what sellers are looking for are buyers. So, if we can match those two, then everybody's happy.
And when it's important to both sides, then it feels like a win-win transaction, and that's when it's important that you have superior negotiation skills on your side, so you can negotiate from a position of strength.
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Watch the full video here: https://youtu.be/Eyx3g8Itx48