Epic Real Estate Investing - A Simple Strategy for Getting More Offers Accepted | Financial Freedom Friday

Episode Date: February 14, 2014

If you get more offers accepted, you'll do more deals and you'll make more money. Adopt this simple strategy and you will get more of your offers accepted. Cha-Ching! ----------------- Subscribe to Financial Freedom Fridays on Matt's YouTube channel by visiting EpicREI.tv or... Subscribe to this podcast and access all of Matt's shows at EpicRealEstateInvesting.com   Learn more about your ad choices. Visit megaphone.fm/adchoices

It's time for Financial Freedom Friday with Matt Terrio. Although I never found much value in holding a real estate license in my role as a real estate investor, this week I was able to implement a negotiating strategy taught to me by my former broker. It worked countless times when I was representing homebuyers and sellers as an agent, and it worked this week as an investor putting five figures in my pocket. So I guess all that work as an agent, wasn't really for nothing. The negotiating strategy to which I'm referring to is to never let the ball bounce twice in your court. You see, I encourage new investors at the beginning that the ones

that I mentor, the ones that I coach, to start presenting offers to every motivated seller that they meet with. You see, that's a practice that will indeed get you more deals. It'll get you started, right? I'll get you into the game. And specifically, deals of where you didn't think there was a deal to be had. And the second part of this practice that I teach is to present offers in a way that the worst case scenario is that the seller counters the offer back. Now, that all straightforward, very basic. But here's where it gets tricky. This is where people get stuck.

You see, should the seller counter your initial offer and you don't like that seller's counteroffer, don't get all upset. Don't get emotionally involved. Don't get insulted. At the very least, not to the point where you fail to counterback. No, don't do that. As in the game of tennis, every time the ball. ball lands in your court, what do you do? You got to hit it back, right? You got to hit it back

before it bounces a second time. So if you receive an offer as a seller and you don't like it, just counterback. Just hit it back. And if you receive a counter offer as a buyer and you don't like it, what do you do? That's right. You counter back. And you keep countering back until you reach an agreement or the other side stops playing until the ball bounces twice in their court. I mean, And even if you hit a limit on the price or terms that you're willing to accept, countering back with those same terms and just countering back over and over, totally acceptable, totally allowed. You see, after the second counteroffer that I received this week, the second one,

I was pretty sure that there wasn't going to be a deal. But I kept hitting the ball back, and after four counters, an agreement was actually reached. A profitable agreement for both sides. Definitely a win-win situation. So keep the ball in play. Don't let it bounce twice in your court. for if you do, you might forfeit a game that you might have won had you just hit the ball back one more time. I'm Matt Terrio of Epic Real Estate, and I'll see you next week on Financial Freedom Friday.

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