Negotiating Deals

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There are a number of techniques and strategies to keep in mind when negotiating deals successfully.
I'll address several of them here.
- Have a specific goal in mind when considering a deal.
- Be focused on making it a win-win situation for all parties.
- Create relationships and separate the people from the problem.
- Focus on the motivation of the person you are dealing with, not your position.
- Be guided by reason and facts, not pressure and hype.
- Always be willing to step away from the table, there is always another deal.
- Silence is golden and speaks louder than words.
- Find and work only with the decision maker on a deal.
- Do your diligence and know all of your options.
- Be patient, flexible and confident.
- Remember always, the saying "he who mentions a number first loses!" You can't build a successful, long term real estate investing business without the help of realtors.
The challenge is that many realtors have little real estate investing knowledge.
What's worse, even though every agent will work for your money, few are willing go that extra mile to really help you grow your investing business.
Here are three simple secrets to getting a great real estate agent really working for you: 1) Use a top "Sales" agent with a proven track record to sell your investment property.
Don't take on a "listing" agent.
And only use a proven realtor with real estate investing experience.
2) Position a Realtor as a Buyer's Representative Have another agent act as your "Buyer's Agent" to find property on your behalf.
Be sure you outline the sorts of properties you are looking for, then your agent will contact you when they find this type of property.
3) "Pocket" Listings.
Follow these simple guidelines and you will work from a position of strength and respect.
As Benjamin Franklin said, "A slip of the foot you may soon recover, but a slip of the tongue you may never get over".
Mary Wozny
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