People can be approached in a variety of ways. There has been an entire library written on the issue, and every salesperson would gladly offer you their perspective. However, after more than 15 years of constructing one of America’s finest real estate portfolios in New York and New Jersey, we are convinced that being direct is the best course of action. The honesty and efficiency of telling it like it is is a nice difference from a politically correct America, and sellers appreciate it. So, how does that function in practice?
No cheesy introductions.
So how many times have you cringed when a telemarketer begins with a clichéd “so how’s the weather over there?” Alternatively, the automobile dealer can begin by saying, “Isn’t that model a beauty?” The truth is that all humans consider these flowery introductions to be a waste of time. But it becomes even worse when you’re dealing with real estate owners from the Greatest Generation. They despise cheesy starts, and it’s a deal-breaker in many circumstances; you’re labeled as someone who is dishonest and wastes their time. “I’m interested in your property located at _________________,” is the proper way to begin a conversation with the seller. Is that something you’d be interested in selling?”
Play no game.
Most real estate sellers despise overt attempts to play the negotiation game. If you avoid this embarrassing conduct, the vendor will reward you with a higher price. While everyone understands that negotiating entails making a lower offer and countering with a higher bid, it can become frustrating when taken to an excessive level. Some buyers will begin by saying, “I’m not interested in your property, but I thought I’d ask and see if it’s for sale” – yet you’re obviously interested because you’re talking to them. Buyers do this in the hopes of getting a ridiculously low price from the seller. Instead, it irritates the vendor. Forget anything you’ve read in Amazon’s “you can negotiate anything” books.
Don’t be afraid to show your excitement.
Many homebuyers make the mistake of concealing their enthusiasm for the property. They feel this provides them a competitive advantage in negotiations. This, on the other hand, frequently destroys the deal. Why? Because savvy sellers understand that there will always be bumps in the road on the path to finalizing the deal, and a buyer who isn’t interested will bail when these issues arise. On the other hand, the passionate buyer has the energy to win, but the seller also sees their enthusiasm as a compliment to the property they purchased. It’s been well said that enthusiasm is contagious, and it’s a powerful force when it comes to real estate purchases.
Be yourself to increase your chances of “connecting.”
One of the most powerful forces in real estate is “bonding” which means the buyer and seller became friends. Sellers are willing to help their friends by giving them lower prices and seller financing. But you won’t make any friends if you are not honest and being yourself. Please don’t put on any artificial pretenses with sellers as they can immediately smell a rat and will not trust you. It’s easy to act natural, and here’s one time in which it’s essential. That being said, don’t be stupid for being too open about your thoughts. Don’t show up at a meeting and talk about the three forbidden topics of “politics, sex, and religion.” And dress conservatively, even if you would rather be wearing a Hawaiian shirt and shorts. Put your best foot forward, but don’t put your foot in your mouth.
The honest, courteous buyer who is genuinely enthused about their home elicits a positive response from sellers. So, if you approach your seller in this manner, you will have a lot of luck buying real estate. Those that encourage you to play games and give your meeting the greatest “Hollywood” shtick have no idea how to acquire property successfully.