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In today's real estate FAQ's episode you'll learn tips for getting a lowball offer accepted! Let's begin with some basic how to buy a house questions that come up frequently. Nearly every buyer always asks, "can I offer less money for the house," when they are ready to write an offer. When buying a house, the list price and terms of the contract are negotiable. To weigh the odds of what is considered a lowball offer on a house, begin with understanding if the current market is a: sellers market, buyers market, or balanced market. Depending on the type of market will determine the likelihood of getting an offer accepted on a house, especially one quite a bit under list price. The next question that usually pops up is, "how much should I offer on a house below asking price?" That's a great question! Real estate lowball offer mistakes occur when a buyer first doesn't understand the current market conditions and trends. Working with a savvy buyer agent, when a home buyer gets ready to write an offer, the agent will double check value. If higher than reasonable then the offer should be less than asking price. If the list price and valuations check out, then it's matter of motivation on behalf of the seller and the market conditions. (i.e. are multiple bids occuring? how long has the house been on the market?) So, how to make lowball offers on a home successfully? First, understand the market conditions. (Yes, I'm driving this point home because it's critical to your success!) Next up, find the homes with the longest days on market that you like best. Next, schedule with your trusted real estate advisor to check them out asking your agent to "comp" the property before viewing the home. Ask your real estate agent if the home is overpriced, underpriced, or at the right list price. Chances are, if a home has a many days on the market over the average in your area, the price isn't right and the seller must come down if they hope to sell. So, what percentage is considered a lowball offer. If the home is priced correctly, anywhere from 3%- 5% under list will definitely be low. If the home is overpriced then anywhere from 7%- 10%+ will be considered a lowball offer. Here's the deal... In practice, me and my teammates have assisted home buyers get as much as 15% off the list price on occasion even in a seller's market. While it's certainly not the norm, every property, buyer, and seller thus negotiations are unique. To balance that fact, if a buyer wants to consistently be unreasonable by making lowball offers on correctly priced homes or underpriced homes and not listen to the prudent counsel or learn how to make a successful offer, then I will consider the buyer unmotivated to buy a house and simply fire the client. Please understand that when real estate agent's represent home buyers, we are looking out for your best interest and will assist you in getting the deal possible for the current market on both price and terms that help you get the home you want. Depending on your motivation to get the house, days on market, price, and market conditions, terms needed (i.e. buyer closing costs, home warranty, etc...) will determine the best way to make an offer on a house. Be realistic, be smart, and listen to your trusted real estate advisor whether you'll be able to get your lowball offer accepted or not. Sometimes it does work out. To get the most of this video, watch it start to finish and share your questions & comments, about when to walk a way from a home purchase with our community below. Thank you. To get honest information the next time you're buying a home or selling a house contact a great local trusted real estate advisor. If you want help finding one of the best real estate agents in the nation, a CRS please let me know. I'm here to help! If you want to know more about Las Vegas real estate or buying a home in Las Vegas, please let me know. I'm happy to help! Thank you for watching! =) Enjoy an amazing day! -Your Real Estate Geek, Andrew Finney Contact info: Andrew Finney USMC Combat Veteran/ Real Estate Consultant License #S.0173260 Call/ Text: 702-710-0287 Email: Andrew@AndrewFinneyTeam.com https://www.andrewfinneyteam.com/ BHHS, Nevada Properties 7475 W. Sahara Ave. Suite 100 Las Vegas, NV 89117 Designations- Certified Residential Specialist (CRS) Accredited Buyer's Representative (ABR) Sellers Representative Specialist (SRS) Certifications- Military Relocation Professional (MRP) Awesome Music Courtesy of: Song: Syn Cole - Feel Good [NCS Release] Music provided by NoCopyRightSounds. Video Link: https://www.youtube.com/watch?v=q1ULJ92aldE Download this track for FREE: http://bit.ly/SynColeFeelGoodDL
Hey guys, in this video I go over how to make an effective lowball offer when trying to buy a used phone! These tricks will help avoid pushing sellers away and rather make them willing to negotiate with you! Phone Flipping Course https://phoneflippinggurus.teachable.com/p/phoneflippinggurus/ Phone Flipping Mastermind Facebook Group: https://www.facebook.com/groups/phoneflippingmastermind/ Phone Flipping Instagram: https://www.instagram.com/iphoneflippers/ Personal Instagram: https://www.instagram.com/kish_israni/ Don't forget to LIKE and SUBSCRIBE :)
http://www.REIClub.com Negotiating Counteroffers Requires Poise and Patience. Here Are Some Negotiating Counteroffer Tricks for Real Estate Investors... SUBSCRIBE TO OUR YOUTUBE CHANNEL http://www.youtube.com/subscription_center?add_user=reiclub SUBSCRIBE TO OUR FREE NEWSLETTER https://www.reiclub.com/real-estate-newsletter.php LET’S CONNECT http://www.facebook.com/reiclub http://twitter.com/reiclub https://plus.google.com/+reiclub http://www.pinterest.com/realestateclub/ Hi, this is Frank Chen with REIClub.com, the only site you need as a real estate investor. Today I've got a quick video on how to negotiate a counter offer. Many investors will tell you to offer between 50-80% of the listing price, but the issue with that, is every property is different and there are many scenarios where your first offer won't always be accepted. So what happens when you get counter offered? Step 1: Be Prepared when Negotiating Counteroffers - MLS printout - read the remarks, DOM - Property comps for similar properties being sold in the area - same parameters - Public Tax Records - Tax Assessment to give you a ballpark comp - Investigate - owner occupant, investor, investment group, bank owned? - When was the property last sold? How much? - find this out from your realtor - Title, mortgage and liens - find out if property is "clean" Step 2: Establish Your Bottom-Line - How much can you comfortably offer on this deal, and still make a decent profit? - Establish your bottom-line so you don't get pushed around and make a poor decision Step 3: Getting The Price You Want - Goal: Raise as little as possible, and have the seller come down as much as possible - Incremental - Each counter needs to be slightly less than the original increase. EX: 100K first offer, 103K second offer, 105K, Third Offer - This shows the seller that you may be coming close to your bottom-line Step 4: The Waiting Game - You want your seller to feel anxiety and make an impulsive decision - Don't counter immediately, it shows eagerness and desperation - you lose control - Take a few hours before submitting your counter - 4-6 hours - Tell your realtor you need time to think - Tell your realtor its going to be really hard to reach the price they want - Tell your realtor you want to start looking for other properties in the area - Hopefully your realtor will passively convey this message to the seller, which will create pressure ***Understand that the realtor is essentially looking out for their personal interest, their commission. So if they sense weakness from either you or the seller, they will tend to put a bit more pressure on the weaker party to get the sale finalized. Step 5: Final Offer - "Is this the best you can do?" - This is my final offer - Have the confidence to walk-away - its more powerful than you think Step 6: Follow-up Offers - If you are really interested in the property, send a follow-up offer at a slight increase - It might stir up another phase of negotiation. Avoid the Following: - Don't be overly critical on the property to lower the price - may offend or annoy seller - Don't express your position to anyone, not even your realtor - Don't low-ball your offers - immediately get rejected - avoid this by researching - Don't give ultimatums - "if you don't take this offer, you're looking at several months of vacancy" - Don't get PERSONAL - it's about the house, not about you. Not all counter offers will be unacceptable. Assess the property of interest, know your margins, and if the numbers are right, whether it is at your price or the sellers, you should make a move on it. It all comes down to the numbers, whose more prepared, but most importantly, who is more patient. Every dollar you negotiate down, is a dollar saved. The best advice I can give you, is don't get discouraged, and don't take anything personal. It's all part of the sales game. Again, this is Frank Chen with REIClub.com. Please take the time to leave your comments for this video below and please subscribe to our YouTube channel so you'll be automatically notified when we upload more quick video tips for you. Take care and good investing. http://www.youtube.com/watch?v=lQXK4UfWar0 "REIClubRealEstateInvesting"
Learn how to analyze a rental property with the unique "four square" method and make sure your next rental property investment is a cash cow! In this video from BiggerPockets.com, Brandon Turner (author of The Book on Rental Property Investing and co-host of the BiggerPockets Podcast) shares with you the step by step method for determining the monthly cash flow and cash on cash return for any rental property investment. Calculating the numbers on a rental property doesn't need to be difficult - and this video proves it.
It's important to learn how to negotiate the price of real estate. But that being said, when you know your numbers well enough, negotiation doesn't need to be a lot of back and forth. In this episode you'll learn how to make the right offer up front and skip the offer game like a professional. Watch and Enjoy! Kris Krohn & Nate Woodbury WORK WITH KRIS: ======================== Becoming a successful real estate investor is easier than most people know… as long as you have the right Mentor and the right system. Click here to learn your best options: http://LimitlessMentor.com/TV/ BOOKS By Kris Krohn ======================== The Straight Path To Real Estate Wealth: http://limitlessmentor.com/TV The Conscious Creator: http://amzn.to/2gFEkblLimitless: http://amzn.to/2gLQXoV Be On Limitless TV ======================== Record your questions on video, and join me in a future episode: http://bit.ly/2yO78c7 MUSIC ======================== Tobu - Infectious https://www.youtube.com/watch?v=ux8-EbW6DUI Artist: https://www.youtube.com/tobuofficial Licensed under Creative Commons — Attribution 3.0 Unported— CC BY 3.0 ======================== Video by Nate Woodbury (The Hero Maker) BeTheHeroStudios.com http://YouTube.com/NateWoodburyHero
Here are a few tips from Renzo Real Estate on how to best handle a low ball offer as a buyer's real estate agent. As Realtors, we often have these discussions with buyers centred around "wanting a deal". In this video, you will learn more about how to handle this