One of the reasons I love our coaching student Chris is that he’s always asking, “What’s next?” instead of “What if?”. Because he’s still relatively new to real estate, there is a lot that he just doesn’t know how to do, but he doesn’t let that stop him from taking action. To help you see how to negotiate when a situation has unexpectedly changed, Gavin’s roleplays with Chris about a recent deal that almost didn’t happen because of an unexpected home repair.
It can get easy to get upset in the course of a negotiation, especially when a buyer or seller is being overly aggressive. Listen carefully to Gavin’s advice for how Chris can avoid this trap. While you want to make more money with every deal, you also want to preserve your relationships.
Unexpected housing repairs can sink what looked like an otherwise great deal, but you don’t want to pull out of every deal every time that happens. Building some leeway into your offers is one way that you can protect your deal from getting torpedoed before closing day.
When we roleplay with one of our coaching clients, it helps them see where the negotiations have broken down, and then we can give them some tips on how to recover their position of strength. Gavin emphasizes using the numbers as an excuse for why Chris can’t move on his side because he wants to remove a potential problem for Chris.
Chris’s willingness to learn and take action makes him a great coachable client. If you’re ready for a real estate mentor to help you take your investment journey to the next level, reach out to us on our website.
Watch and Learn
Listen and learn:
- When the numbers don’t work, what kind of options do you have?
- How can you diffuse a tense negotiating session?
- The number one, most important tip I have for you today.
- How to make yourself an easily coachable student.
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