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How to Negotiate Low Offers with Dan Lesniak
Manage episode 401503654 series 3237066
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In this episode of the Hyperfast Show, Dan Lesniak tackles the challenge of negotiating low offers in real estate, a common hurdle for agents. He begins by distinguishing between list price and market price, emphasizing the importance of educating buyers early in the process about the realities of the market. Dan advises agents to thoroughly analyze comparables to understand and establish the market price accurately. He also stresses the need to manage buyer expectations, preparing them for the possibility that a seller may not budge on price, even if the offer is justified by market data. The episode delves into strategies for researching the seller's circumstances and motivations, which can provide leverage in negotiations. Dan highlights the importance of aligning non-financial terms of the offer, such as closing dates and contingencies, to make it more appealing. He advocates for removing emotion from negotiations, fostering calm and logical discussions to facilitate agreement. The episode is packed with actionable advice for real estate agents looking to navigate the complexities of low offers, ultimately aiming to equip them with the skills to secure the best outcomes for their clients.
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Join Dan as he discusses:
- Strategies for negotiating low offers in real estate, emphasizing the critical distinction between list price and market price and the importance of educating buyers on market realities.
- The importance of conducting thorough research on comparables to accurately establish market price, and preparing buyers for the possibility that sellers may not accept justified low offers due to various factors.
- Techniques for understanding seller motivations, aligning non-financial terms of the offer, and the necessity of removing emotion from negotiations to facilitate successful outcomes.
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