[Music]
Hello everyone and Welcome to another
episode of Selling Greenville your
favorite real estate podcast here in the
upstate of South Carolina I am your host
Stan McCune realtor right here in
Greenville South Carolina and as always
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one quick thing in addition to all of
that there will be no episode next week
for Thanksgiving I'm sure everyone will
be hopefully if you're if you're in a
state that isn't restricting things
because of covid that you will be
enjoying time with family and friends I
will be enjoying time with family and
friends myself so I assume that not
too many people are going to be
listening to podcasts we will have no
episode next week we will resume after
Thanksgiving with sell and Greenville
today we are talking about real
estate negotiation five things that
are big mistakes that you make in a real
estate negotiation the five biggest
mistakes at least the the the biggest
ones that I could think of and I
thought of some more I ended up
whittling down this list of five but
five mistakes that are made in a real
estate negotiation now there are a
gazillion books out there that talk
about negotiating and I want to make
sure from the get here that I am not
trying to say that those books are wrong
or you know trying to offer competing
information against some of the
psychologists out there or anything I'm
simply stating and talking about in this
episode mistakes that I have seen buyers
and sellers make and giving some of the
rationale behind why those are are
mistake why you shouldn't make it and
what else you can do and the first
mistake kind of plays into that little
Prelude which is the mistake of thinking
that all negotiation is the same and
that negotiating a house is like
negotiating anything else I'm sorry if
you believe that and if you've read that
you are flat out wrong negotiating a
house is very different obviously there
are some similarities between
negotiating a house and negotiating
something else but it is a completely
different type of transaction for
instance if you're purchasing a car
you go in there you test drive the car
once maybe you take it to your
mechanic if you if you so desire you
come back you negotiate the terms you
buy it the
salesperson I assume that they pretty
much get paid that day or that week
and you get the car you pay some money
you get some financing right there maybe
or not you were you were pre-approved
going into that and you leave and you
spent a few hours in there you left with
a
car and and that's that buying a
house is completely different than that
you have different parties that are
involved you have usually A lender
that's involved on the front end then
you have Realtors who are involved
potentially then you have inspectors
and appraisers and and all these other
parties and and different places where
things can go wrong and different
negotiation points right that we're not
just talking about neg negotiating on
the front end of the transaction and
this podcast isn't just talking about
negotiating on the front end of the
podcast on the on the front end of
the transaction sorry you have to
negotiate on the front end when you're
getting that initial price but then when
you have your inspections done you're
going to have to negotiate again you're
negotiating repairs whether you're the
buyer or the seller there's a
negotiation that happens there if
you're in a due diligence period as a
buyer client or you're seller selling to
an to an investor who has a due
diligence period they might decide to
negotiate the price in the middle of the
transaction and they can do that in
South Carolina during a what we call due
diligence period you might have a low
appraisal you might have to then
renegotiate okay what happens when the
appraisal comes in low maybe the buyer
can't afford to increase their down
payment maybe they can maybe the seller
can't afford to come down on the price
maybe they can there are all kind of
negotiations that can happen there maybe
the CL 100 isn't clear there are all
sorts of places where you have to
negotiate in a real estate transaction
it's very different than negotiating
your salary with your boss it's very
different than negotiating your car
purchase with a
dealership and in addition to that
which we'll get into a little bit more
here in a second there's a lot of
emotion in real estate transaction
not everyone is like this but there is
kind of a common phenomenon
psychological phenomenon that happens
with a lot of people where they have to
almost like grieve the house that
they're selling and in some cases it
might be grieving and some cases it
might be you know all the memories that
they're leaving behind they need to say
goodbye say goodbye to the house say
goodbye to all those memories I mean
even when I moved last year my
10-year-old who at the time was nine
even she at one point point at our old
house I I caught her just outside in the
backyard just calmly standing there
and I asked her hey what's going on and
she said you know I'm just thinking
about all the good memories that we had
back here and even her as a 9-year-old
there was kind of like this saying
goodbye to the house and I think that
that's a I I know that that's a very
common phenomenon you don't experience
that you know people that are selling
cars they might have some memories some
experiences in them but it's not the
same people that are other things you're
negotiating it's not the same you can't
do a one-size fits all and so one of the
biggest mistakes for people that are
skilled in negotiating that have
experience in negotiation that have
maybe a background in sales as they
think oh we're just buying or selling a
house this is like any other thing in
the world that we're negotiating here
I read in this book or I've learned in
my sales process this is a technique
for negotiating it doesn't always work
that simply because there are so many
other factors at play here so that to me
is mistake number one that we just need
to get out in front of logically is
thinking that all negotiations are the
same real estate transaction has some
unique aspects to it mistake number
two is revealing too much information
about yourself as either the buyer or
the seller there's a lot of ways that
you can reveal too much information
about yourself to the other party and
there's the reason for this is that
there is just a lot of reading between
the lines and you need to just recognize
right on the front end that there is a
lot of distrust between buyers and
sellers the buyer is assuming you know
that the seller is holding back
information about the condition of the
house that the seller you know is trying
to squeeze every every dollar out of the
house you know probably cut Corners here
or there the seller is thinking about
the buyer okay the buyer is just going
to try to beat me down on the price it's
just going to try to nitpick on this and
that it's going to try to get Ticky Tac
on the repairs buyers and sellers
particularly in this market which is a
very competitive market and and people
are quite frankly being ticky tacky
buyers and sellers have a bit of
distrust for each other that happens
just inherently it happens inherently on
the transaction regardless of any of the
specific details of the transaction it
starts off with a trust deficit okay now
the way that you build that trust
deficit back is a bit counterintuitive
it's not by revealing more information
that builds trust it's by keeping back
information and staying Anonymous and
simply plugging away at the transaction
this is what I've found because once you
re reveal information to someone that's
distrustful they don't then say oh okay
well this seems like a good person I
think I'm going to trust them more no
they take that information and they
filter it through their lens of distrust
and then they twist that information to
make it fit their narrative basically
the narrative that they have that you
are not a trustworthy person and that
they should have concerns about you and
so it ends up backfiring often times
when you reveal too much information
this is why I don't like it when my
clients write letters like a buyer
client this is a somewhat it's not super
common but a somewhat common thing is
that buyer clients or buyers in this
market will write letters to a seller
trying to express how much they like a
house or don't like a house well I I
guess they're Focus mostly on that they
like this house perhaps in contrast to
some of the other houses that they've
looked at and sellers will will read
in between the lines and will try to
figure out the all the psychology Behind
these these different sentences
that are written in these letters and
let me tell you it doesn't work out well
for the buyers almost all the time those
letters do not work it's there are some
rare moments where there is a connection
that happens where the the buyer and
seller both you know the language used
in in the letter just clicks and it just
works but often times the distrust
deficit comes into play and the sellers
are like oh man these these people you
know they sound like they have issues or
they sound like they're going to be
problematic or whatever the case may be
it's a very common thing so when I'm
representing a client I try to reveal
I I try to paint a picture of my clients
with the buyer or the seller that these
are just nice normal qualified honest
people and again I'm trying to be honest
in all of this I don't say things that
aren't true but the things that I reveal
typically reveal that my clients are
just nice normal qualified honest people
that I know well you know most the
vast majority of my clients I know quite
well I've worked with them for a while
and I've had multiple meetings with
them and these people they're just
looking to complete a regular real
estate trans action they're not looking
to do anything crazy they're just
looking to buy or to sell a house and
that's it keep the party Anonymous and
keep the everything about my
relationship with the realtor because
the realtor on the other end of the of
the table they know who I am so they can
there is already going to be hopefully
trust hopefully not distrust I have a
good relationship with with the vast
majority of the Realtors around here
they already have hopefully an equity
in trust in my relationship with them so
I want to keep that relationship the
Center focus and downplay all the the
personal information and relational
information with with my clients they
don't need to know that that's personal
information I don't want that to get
twisted here's a few examples of things
that I've heard Realtors do and say
reveal for their clients that oftentimes
end up getting twisted
a phrase like they are well Todo they
they might say something like this like
oh man my my buyer clients they are well
too this would be you know their third
home they just want to be near their
their daughter to be able to come down
here during the winter you know it's
really cold in Maine and and they
have a lot of money this will be a
smooth
transaction they're not going to be
too picky because again they're they're
really wealthy they can buy this with
cash they can they can close it really
quickly blah blah blah so I then go
back to my seller clients and and tell
them that and my seller clients are like
well why on Earth if they're so well to
do they give us such a a bad offer you
know or it might not even be a bad offer
it may be you know maybe $5,000 less
than what it's listed at but now they're
hearing how much money these people have
and now they're like well forget that
they need to come up on this purchase
price and and so that can be twisted
maybe here's one say they're an
honest just an honest Christian family
they're not trying to pull a fast one
they're not trying to do anything shady
this is you know they did these repairs
to this house and they did it to the
best of their abilities and hired
qualified people and there there's
nothing hidden there these are just good
honest Christian people I had a realtor
once tell me that she doesn't like
working with Christians and she quickly
as soon she said that she quickly
backtracked now I am all about fair
housing and but then she went on for the
next 10 minutes about how she doesn't
like working Christian so I don't think
she's all about fair housing and I'm
not going to reveal who that was nor
did I report her I'm not the the fair
housing police she did say some things
like I said that backtracked a little
bit that if she hadn't said I
probably would have had to talk to
someone in my office to determine
whether this was something to worth
reporting but yeah too much
information that that we don't need to
to discuss people's religion or
anything like that keep them
Anonymous going into details like or
saying something like you know they
really can't afford more than you know
200,000 like you've got this listed for
215 we're offering 200 that's that's all
they're pre-approved for that's all they
can afford well that can come across
to the seller that well they don't have
any money and this is going to be an
issue they're they might is their
financing going to work out what issues
are we going to have because they don't
have any money here's another one
they've had a couple of deals not work
out and and you know they they love this
house they really want this house this
is their dream home like we just need to
make this work well why have they had a
couple of deals not work out and me as a
realtor obviously I'll ask that but
it it there may not be a whole lot of
information that she can give me and now
or that he can give me and and now it's
like well I'm going to go back to my
clients and Report you know hey the
buyer for your house or the the people
that are looking to buy your
house they revealed to me that they had
a couple of deals not work out so I
don't know what that's all about I
couldn't get a whole lot of information
guess what that's not good that's
not information that you want to reveal
without
context here's another one for for
you an analytical folks out there I I
have some clients particularly investor
clients they will you know like to break
everything down into a spreadsheet and
have a very detailed almost like a you
know they might have a proforma they you
know do all kinds of different things
in spreadsheets trying to determine
how much a house is worth and I've had
some that are like you know hey go ahead
and give this information to the seller
show the seller what numbers we're
looking at so that they can see that
we're not just making this up well
there are some times and and every
Situation's different there might be
some times where that's a good strategy
but there are a lot of times where
that's revealing too much information
now they're looking at the spreadsheet
and they're seeing you know again
feeling like oh man this this person is
going to be a Ticky Tac buyer or this
guy is he's too analytical I've dealt
with people with engineer brains like
him or like her I know what this is
going to be like and and they're looking
at the spreadsheet and even though it's
a non-personal spreadsheet they're
bringing all this personal baggage into
it now you don't want to reveal too much
information I try to keep my clients
Anonymous try to keep the personal side
of it between me and the other agent and
I found that that really works the best
all right number three making things too
complex now this isn't just each
negotiation you want to keep each
individual negotiation in a
transaction simple and to avoid being
too complex but this also applies to the
entire transaction if the entire
transaction is complex in some way or if
let's say on the front end I've run into
this before on the front end just the
negotiation on the front end getting the
house under contract there's like
multiple rounds of negotiation all sorts
of back and forth and add this language
and take this out and do this and do
that that is a bad sign for the rest
of the transaction remember there's not
just one negotiation that happens
there's multiple rounds of negotiation
and
transaction and when things are complex
on the front end or during one of those
negotiations it can end up casting a
dark cloud over the entire transaction
and can cause again some of that
distrust to then
overshadow the transaction and and
to to make it more difficult and and
potentially even to derail the
transaction itself and ultimately
when when people are buying a house and
when they're negotiating I mean it is a
complex situation there are a gazillion
reasons why you why the average buyer
might want the seller to come down on
the price perhaps you know they're only
pre-approved up to a certain point or
they want their down payment to be lower
or they're trying to keep their PMI at a
certain level and you know they only
have so much to put down on the
house maybe they've are pretty
detailed in terms of of looking at the
condition of the home they notice
several things that need to be repaired
they notice several things deferred
maintenance that needs to be looked at
you know maybe this house they've
looked at other houses that are honestly
nicer for the same price point but this
one just checks off more of their boxes
but now they're also thinking well it it
checks off our boxes and logically it
works but we like it but we don't love
it we're going to have to do a lot of
updating and so all of these things
right now if I as a realtor go back to
the seller to the listing agent and tell
them all of these things here are 10
reasons why we need the the seller to
drop the price by
$155,000 or whatever the case may
be guess what that is going to be that
is going to come across as too complex
again they're going to read into it
they're going to have concerns now of
like okay is the entire transaction
going to be comp this complex so it
needs to be simple and so I always try
to keep things as simple as possible
when I'm vouching for my clients I
don't have 10 reasons why why my
clients offer should be accepted I give
a handful of really strong reasons I
don't give 10 specific details on my
clients I give a handful of kind of
General again Anonymous but one but
reasons details for my clients to vouch
for them that I know will resonate with
with the agent things that are just
simple things that will not get us into
the weeds and cause questions and cause
concerns it's very simple to it's very
sorry similar to point number two I
made about revealing too much
information but specific to when
you're actually starting to do the
negotiation and the details of the
negotiation themselves can end up being
too complex so when I'm when I'm writing
an offer and when I'm or when I'm
writing for instance a a repair request
list for one of my buyer clients or
when I'm responding to a repair request
list that a buyer has presented on one
of my listings responses I always try to
keep Simple I will keep my emails as
much as possible to one paragraph or
less not getting into the weeds if I
need more more details than that
that's going to be a phone call that I
make to the agent the way I write my
offer I try to keep them very simple try
to keep them clean don't add you know we
need all of the you know we need you to
to concede this and concede that and
include this don't include that the you
know the seller is going to do all of
these things and as a buyer here's what
they offer in return listen this is a
competitive market simple offers are
going to win any day over complex offers
I've had some clients sometimes that
they they want me to add in a lot of
a lot of notes into the language of the
contract to make sure that all all sorts
of things are included and obviously
I will do that but you have to
understand that doing that really
weakens your offer and it just makes it
more complex realtor is looking at two
offers one of them has all kinds of
notes written in clarifying that
seller is going to do all these special
things and the other one doesn't and
they're basically the same in every
other way they're going to accept the
simpler offer so we I try to make things
simple as much as possible on every
level of the transaction from that first
phone call to the realtor I try to keep
it simple and memorable to make sure
that he or she knows who I am knows why
I'm calling why my client is
serious and then I continue that process
throughout the entire transaction to
keep things simple to avoid going off
the rails making things overly complex
but it takes two to tango and I need
my clients to to be okay with that
and to be willing to have things simple
as well some some people in their minds
things are very complex and they want
that to come across to the other party
perhaps even without them realizing
it and that can really cause a
transaction to go Haywire number four
on here is making the other party feel
betrayed or taken advantage of this is
this is really really important because
as we mentioned before a real estate
transaction is really personal it's
really emotional and it's very very easy
for one party to feel betrayed or taking
advantage of particularly if the other
party at some point changes their tune
or starts going in a different direction
from what they originally said that
they were going to do for instance let's
say that a
seller portrays a house or a listing
agent portrays a house as just being an
excellent shape I mean this house they
has they have renovated everything and
have done everything perfectly they had
general contractor come in and and
they did all these modifications to code
everything's perfect then the
inspector comes in and the inspector
just finds so many things not done to
codes so many things that you know
Outlets that were installed that aren't
working electrical issues there's a
Plumbing Leak that clearly the seller
knew about but the seller didn't reveal
all all sorts of different things that
the buyers didn't notice on the front
end and that the sellers didn't disclose
and while at the same time the sellers
were saying that you know in
marketing the house that it's in great
condition guess what the buyers are
going to to feel feel a bit betrayed
right now they're going to feel like
something is is wrong like this seller
lied to them and and again it a lot of
this keeps coming back and there's a
reason why it was one of the first
things I said this trust deficit that
you have you have to understand that
that comes out in a lot of other ways
in the
transaction and and this is one of them
another example is let's say that
me as a buyer agent I'm representing my
buyer client one of one of my again
simple pitches to the listing agent is
my clients they love this house this is
the perfect house for them you know
we've been looking for a while and and
nothing else has really fit the this
profile of house that they're looking
for and I just think it's going to be a
smooth transaction they're going
to you know be
easygoing obviously we're going to do
our inspections and all of that but all
indications are that that they just
really love this house and it's just
going to be a smooth transaction and we
can just get this thing closed and move
on to the next one right that's a
compelling pitch to an agent because
listing agents they just want to sell
the house and just move on to the
next
one so we do that we get that under
contract and then my clients it turns
out that they start having some
buyers remorse they are like you know
well we paid a little bit too much maybe
I don't know it was a multiple offer
situation are we sure that we didn't you
know give them more than what we needed
to and and now the buyers who were so
excited about the property before
obviously I didn't lie about that when I
was talking to the agent the buyers were
excited and and I by the way I don't
have a specific case in mind that I'm
I'm not thinking about a specific client
as I'm saying this is just a a general
scenario but you know now the buyers
start to sour on the property or
whatever the case they're not as as
excited as they were
before and so now that starts to come
out so the inspection is done the
inspector finds you know normal things
that the inspector finds a lot of ticky
Tac things that aren't very important
you know maybe a a closet door that
doesn't close properly you know you've
got a toilet that's slightly
crooked but is fully functioning you
know all of these different things that
inspectors find well now the buyers
because they are starting to sour on
the property they still want it but
they feel like maybe we spent too
much we didn't negotiate right on the
front end or whatever ever the case may
be whether it's right or wrong they
say you know what we want put you know
here's 35 things from the inspection
report we want you to ask for them to
fix all of these things
that's not a normal I mean that would
be multiple pages of repairs that we're
asking for a seller to do and if the
house is in good shape and we're just
talking about about a bunch of ticky
Tech things seller is going to feel
betrayed seller is going to say what's
going on here we we had this buyer
client that loved the house and now
they're asking for for all these silly
things like what the heck no we're not
going to do all of that do they want the
house or not now they don't want to do
any repairs you now completely shot
yourself in the foot you've betrayed or
or you know taken advantage of of the
situation at least in your mind
you're trying to do that and now you've
got a seller that's upset and angry
ticked off S doesn't want to do anything
now now you've completely shot yourself
in the foot and so we have to be careful
that we don't go too far overuse
our leverage so to
speak and overplay your hand and get in
a situation where you take advantage or
betray the other party here's one that
that has happened to me before right we
have a hundred-year flood a very rare
weather event where flooding occurs and
After the flood guess what every single
crawl space and basement in the area has
water in it that is what happens when a
hundred-year flood
happens water ends up in places where it
normally doesn't I had you you can have
wind driven rain we talked about this in
our our previous episode weeks ago
really months ago about storm season
wind driven rain I've had this this
year we've had a lot of weird weather
events I had wind driven rain come into
my garage I've got a water spot in my
garage that you know my roof is
perfectly fine it's like a two two
threey old roof U but I've got a water
spot in my garage because rain swirled
in a weird Direction during a very odd
storm and it it came in through one
of the eaves in my
garage so you've got a rare flooding
event and there's a little bit of water
in the crawl space and guess what
happens the buyers just the timing was
just right that this happened right
before the inspection the inspector
Flags there's a little bit of water the
the wood moisture level in the house is
normal okay so that's really the main
thing that you're looking at is the wood
moisture level that tells you whether
there's an actual moisture problem or
not he says yes that's that's normal but
we have a little bit of standing water
in a corner of the crawl space and now
the buyers are like ooh we have a
situation here we can use this to our
advantage can't we
can't we you know water in a cross space
that's hard to get out I mean we might
have to do a French drain we might have
to do a sump pump I mean there's all
kinds of things that can cost hundreds
or thousands of dollars that we might
have to do now so Stan how about you
go back to them and as part of this tell
them that they need to pay for $2,000 of
our closing cost because that's what
it's going to cost for us to have to
remedy this situation
potentially listen that's a that's a
bad idea you've you've now overplayed
your hand all right and again every
situation is different but when we're
talking about a rare weather event a
very rare weather event that
happens and now you're trying to get a
seller to make concessions that they
wouldn't have made 99 out of a hundred
other years this is the 100-year
flood the seller is going to feel
betrayed they're going to feel like
you're taking ad anage of them and guess
what it's going to send the transaction
often times in the wrong direction and
now your distrust deficit has gotten
even bigger now there rather than you
know kind of reading into situations
here and there now they're reading into
every situation now they're expecting
you to to try to overplay your hand try
to leverage every situation to try to
do things at every turn
that will benefit you and hurt them
that's what they're thinking same thing
can happen with the buyer if the
seller tries to overplay their hand as
well and it's important to understand
just because you have leverage doesn't
mean you need to exploit it there is a
delicate balance there and a fine line
there are times when you absolutely need
to exhaust every drop of Leverage that
you have in in a real estate transaction
but there are times when
that can be the worst thing for the
transaction and where you can actually
like I said overplay your hand and
completely derail the transaction cause
there to be distrust the entire rest of
the way cause the other party to not be
happy and I've had situations where this
happens and guess what the buyer and the
seller they have to they get to closing
they have to sit at different tables
because they are so fed up with each
other they've never met but just
everything that's happened happened
during the transaction they cannot sit
together at the same table because
they're so angry and upset with each
other by that point and that's
terrible you know that's a terrible way
to to buy a house that's a terrible way
to sell a house we want to make sure
that the that we use the leverage that
we have but also that we don't derail
the transaction in the process of of
overplaying the leverage that that we
have and so that's a that's a fine
line I try to discuss that and work
through that with my clients and and be
reasonable come up with a way to make
sure that you're not leaving money or
leaving repairs or whatever the case may
be on the table while also making sure
that you're playing fair that you're
actually acting in a way that's
responsible acting in a way that will
build trust rather than take away more
trust and and ultimately that that
the way that you operate keeps the
transaction on the right Tracks number
five thinking too short term and and
again these all kind of build on each
other this is the fifth and final
biggest mistake you can make in a real
estate negotiation is thinking to
shortterm and what I mean by that is you
might think okay this this is just one
little
negotiation this isn't going to really
impact anything else I have the
leverage if this worst case scenario
this doesn't work out we're just moving
on to something else there's always
other fish in the sea
we're we're not going to sweat it if
for whatever reason this negotiation
doesn't work out this transaction
doesn't work out we'll just move
on and having that kind of take it or
leave it mindset can be helpful that
can that can make put you in a
situation where you're not boxed in
so that in and of itself isn't bad but
thinking that you have nothing to lose
that's what I hear sometimes well got
nothing to lose let's just try this
no no no you always have something to
lose okay even if you feel like losing
out on the house isn't that big of a
deal or losing out on the property isn't
that big of a deal there's always
something else that can be lost and you
have to make sure that you don't think
too short term in the transaction think
about this there's a lot of real estate
transactions that fall through a lot of
them and a lot of them are in multiple
offer situations so there is a decent
probability if you put an offer in on a
house and it's multiple offers and they
accept an offer that is higher than
yours you miss out on it there's a
decent chance that they will end up
having that fall through at some point
and they'll come crawling back and
giving you the opportunity to buy it
again if you were a complete turnoff
during the negotiation the first go
around when they didn't accept the offer
they might not come back to you and give
you that second chance to get that house
I've had so many situations over the
years where the listing agent for buyer
clients or even even me as a buyer where
we put offers in they didn't get
accepted they accepted a different one
that falls through and then they come
back and give me or my clients the
opportunity to purchase again and the
second go around we able to and the only
way that we're able to is because we set
the right stage right at the
beginning we gave the right impression
right at the beginning they were close
to accepting our offer but they they
thought that maybe they could just get a
little bit more money by accepting this
other person's offer it didn't work out
now they they've come back to their
senses and they're like you know what we
should have just gone with these people
to begin with you've got to remember
that that that is a very good
possibility that happens quite a bit and
you can't think too short term don't go
in guns blazing into that negotiation
and just completely turn people off you
may end up in a situation where you
don't get a second chance at a house you
should have gotten a second chance at
because of the way you acted the first
go around
additionally you may find yourself
where you have to deal with that agent
again I mean particularly if you're an
investor client you're going to find
that you're dealing with a lot of
the same listing agents over and over
again but even if you're not even if
you're just looking for a home to be an
owner occupant in let's say that you
have a a transaction or just a
negotiation
that goes poorly with an agent what
happens if you find another house that
that agent has listed and you have to
go back to negotiating with them now
that you're dealing with a different
seller probably but the same agent and
this is a small Market here in
Greenville that's very very possible and
on top of that because it's a small
Market agents talk to each other right
and let's be honest here I was I was
just talking to to a guy the other day
and he said he worked for a
company that does real estate investing
he used to work for a company that
does real estate investing in Greenville
and he mentioned the company name and I
immediately knew who it was and it
immediately put a bad taste in my mouth
this is the company that puts a bunch of
lowball offers in on properties and I
bet if I went to 10 agents that are
full-time real estate agents most
real estate agents around here are not
full-time you should know but if I
went to 10 full-time real estate agents
I bet that eight of them would
immediately know the name of this
company and it would put a bad taste in
their mouth this this company their
strategy has been too short term of a
strategy and word gets out people in a
small market like this agents talk
sellers talk investors talk there are a
ton of of different groups that meet
to talk about real estate and word gets
out and you can't think too short term
you've got to think big picture for that
transaction big picture for potential
future transactions and if you think too
short term you're going to end up
hurting yourself in the long run and so
I always encourage my clients a lot of
this is just having empathy it's just
thinking about the other party making
sure that you keep everyone's goals and
everyone's emotions and objectives
and whatnot in mind it's very possible
to do that and still protect your own
interests that's the tight rope that
we're trying to to walk when we're
performing a real estate transaction
keeping everyone happy keeping the
transaction on the right track making
sure that my clients get what they need
while at the same time trying to give
the other party a sense that this is
going in the right direction for them as
well because if they don't get that
sense it's not going to be a good
transaction
and it could have a bigger impact on you
as a buyer or seller down the road that
is it for today's episode I thought I I
hope that was helpful to Think
Through negotiation tactics for Real
Estate there will be no episode next
week enjoy your Thanksgiving don't do
anything too crazy wear a mask if you
have conditions that require you to wear
a mask don't get together in Too Close
Quarters I listen I don't care care you
get together with whoever you want to
get together I'm not a totalitarian
here trying to tell you what to do enjoy
your Thanksgiving stay safe we'll talk
in a couple of weeks
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