🔥I just finished up a new report on much of what we’re up against when it comes to our financial futures and how to save yours, if you’d like a copy… I made it really easy and uploaded it for you here 👉 EpicFreedoomBook.com 🔥
Not sure why but I think this is the first vid I've ever seen that actually breaks down how and what to say when making an offer. Love that he got specifically to the point. First time viewer. Thanks
Thanks for the sub. To be straight... click bait here is not entirely out of the question, but I make it a point to ALWAYS deliver on the click. Thanks again :-)
There are so many fake videos out there on same topic but telling us junk. This is the only genuine video on this topic, going extra mile with detailed steps and phrases to be used. Many thanks for your efforts and sharing your experience.
I’m finding it a little entertaining how many people are saying this video has manipulation and sales techniques in it and thus you should just hire a realtor. If you have hired a good realtor what do you think they are doing differently? What I’m seeing is the assumption that the seller has the upper hand, they can just sell the house to someone else and that is fine.
When going at it alone with the intention of negating the buying agent commission. Does it usually work out where the selling agent makes a with the seller (seller takes lower offer, but pays only half commission), or is it a deal between the selling agent and buyer (buyer makes regular offer, selling agent gets full commission, then kicks back half to buyer)?
You've stated $170K and the seller rejected it. Then you asked the seller what they think the price should be after considering the market and the current condition. When the seller states their reduced price, say $185K, then talk about the difference: "Thank you, Mr. Seller. Now it seems like we're only $15K apart, which is a bit too much in my view. Is that the best you can do or can you help me to say yes by reducing that $15K gap?"
Every state might have some nuances with regard to the paperwork required, but I have used simple purchase agreements that can be found in just about any stationary store. If the Seller is represented by a Realtor, they'll probably require you to use the state Realtor form, of which they can provide that for you. If you're dealing directly with the Seller (no agents involved), something like this should do the job just fine... amzn.to/2EGAMT1
Great video. Also I would add that you should always include an earnest money deposit in the offer so they know you are serious and you have solid financing.
Why would you have the buyers agent fee kicked back to the sellers agent vs. taking that percent off from the price of the house. If I'm representing myself, there's no agent the seller has to pay and I want that money to come off the price of the house. If I need the sellers agent to do any work on my behalf, then I will give him something, otherwise, I want a price concession, as that can really add up, especially with the prices of decent houses now days.
I would say the pricing part was pretty off, but otherwise some good info. Part of the reason I do NOT care to use a realtor is they often are very erratic with their pricing. Years ago when I sold my first house, their estimates for resale were 329 to 510k. I sold for 460k, which was 30k above the appraisal. I also find depending on the realtor they'll give you too high of a price to try to get your business, and then say the market has softened and you should take this much lower offer. Half the time its because they're about to collect both the selling and purchasing commissions... Its a very strange occupation that kind of works against the buyer's and seller's best interests. Also, a big part of both buying and selling a house without a realtor is understanding the paperwork, decide on a deposit amount, how to choose a lawyer etc. I would say that would be an important follow up video.
I want to buy a home however I want to do it myself because I’ve talked to multiple agents and no one is interested in helping me. Example a house was $180,000 I asked if we can put in an offer of $175,000 considering my budget and that the house was listed for pass 40 days and it needed repairs which we were ok with. The agent told me no that we have to either give them the asking price or more and we never put any effort to trying to get that house and eventually it sold for $170,000 way below the asking price. I feel like no one is helping me nobody contacts me, I have to find all the houses myself, the home can be missing a roof and the agent is still telling me I have to pay the owner the asking price of $300,000, it’s ridiculous. I rather put in offers and get rejected then sitting around doing nothing.
The entire exercise relies on the buyer extracting information from the seller that they later use against them . A thinking person will know this : " Mr. Market is not the bad guy...I know what Mr. Maket says it is worth and I plan to sell it for that...but you ( the buyer ) have extracted info in casual conversation that you are now using against me. Hit the road. No deal for you " That is what a thinking seller will do.
Awesome info, thank you. I know this is two years old. I doubt in today's market with sellers getting 30 offers in a weekend will meet. I'll try though.
I have a house I love and found out last week from the owner that he bought it for 120k to flip and sell(he has been flipping houses for years). neither of us want to use a realtor and he asked for our input and to let us help him work on it. Would that be a good idea and would it help us in cost?
I can’t think of the last time I have actually seen a seller....let alone a seller in their house giving a tour of the home. YEARS AND YEARS. What market are you in? Sounds like a wonderful place where time has stood still. In fact this guy somewhat reminds me of Carlton Sheets.
What if you get that stubborn one that insisted their bottom line is still the overpriced value? Then it is a no deal and move on to the next property? I usually noticed that there is a pattern. High end seller is usually generous when it comes to negotiation but lower to mid (sometimes) end sellers are usually overpriced their home and stubbornly refused to lower the price. Only those that are already in a financial distress that they finally become cooperative.
At the end of the day, you can't force someone to sell their home. If they want more than what the property is worth, that's their problem not yours. I don't see patterns between higher end and lower end properties. Distress hits people of all economic levels the same, and ultimately that's what will lead to a discount. With all that said, this video was more about how to present on your own, and how to use some investor know-how to get the best deal possible on your primary residence. Thanks for coming back, and thanks for your contribution.
Hello sir looking to possibly purchase a condo in state of Massachusetts how would estimated closing cost be on 103,000 property? ( rough estimate) Thank you sir
Thanks for such detailed explanation of all the stages! All the suggestions for phrasing become even more valuable when English is not your native language and you have no previous experience in negotiations on such matters.
11:19 This strategy may work if the seller isn't intelligent enough to realize that the houses used as comps ALSO needed similar repairs and weren't perfect.
I really did enjoy this presentation thank you! You seem friendly, knowledgeable and i feel these could work! Not in 2021 market, i doubt, but maybe after. Thanks again
i'm buying a cheap damaged property to fix and live in it fits my budget range and fixing skills its a foreclosure , any idea what the bank care about in an offer ?
That would typically happen AFTER you reach an agreement with the seller and a contract has been signed. Doing so beforehand will typically result in a waste of your time. Thanks for the question. Good luck!
Please use a realtor. My uncle said it best to me "just because you can change tires, doesn't make you a mechanic ". The seller is the only one that wins when you don't use a Realtor. Be smart.
Abena0205 Many buyers agents now are known for working for the seller (they get a commission from the selling price), and essentially keep the buyer on the outside of the negotiations, only sending you numbers and counter offers. it can be very frustrating if you think the house is priced too high for market. Ultimately if you try this guys method and you feel it’s not working in your favor, don’t sign anything and go hire a realtor for the next offer.
No, didn't assume that at all. Like every question or concern in real estate, the answer is "it depends." It's impossible to address every variable in every conversation. The bigger point of this lesson is the positioning of an offer.
@Epic Real Estate Investing: If I were a seller and you showed that calculation to me, I'd say that the comp values are net of repair costs on those houses. So, unless you can show me that my house needs more repairs than those other houses needed, then the net sale price of my house should be roughly in line with comps.
@@ncooty Thanks for the clarification, but again... "Like every question or concern in real estate, the answer is "it depends." It's impossible to address every variable in every conversation." Also, when you put sellers in your shoes, you are inadvertently negotiating against yourself. At the end of the day, though... do what makes you happy.
Thank you! Very helpful, when you say "let's put the offer on paper" what exactly does that entitle? Having a Escrow Company put the paperwork together? Or a attorney writing up an notarized offer?
No, but all that does qualify. What I'm specifically referring to is presenting a written offer on a formal purchase agreement to a seller. Many investors leave money on the table by trying to negotiate everything verbally and if they can't come to an agreement, the deal dies. But, when you put an offer in writing, it frequently can change the dynamic of the entire conversation. Let me know if you need anything else.
@12:26+: You seem to believe what most salespeople believe: that it's all about saying the right words to manipulate people. I realize that belief makes the salesperson seem more important than the product or the content of the transaction, but I find it sleazy and off-putting. (E.g., don't worry about the _quality_ of the product; just make people _think_ it's valuable. Sell the sizzle, not the steak.) Maybe you're right and sellers are rubes, but I wouldn't want to condescend to someone else that way. _(If you say it the right way, you'll trick the idiot into thinking your offer was their idea!)_ I'd tell someone to leave if they spoke that way to me. In fact, I'd have asked you to leave the first time you asked, "Is that fair?" Such a salesy line, especially when posed that way.
thank you for the video. I am going to take a real estate salesperson exam. after I get the license, I am planning to buy my own house. so in that situation, can I represent myself and get half of the commission? or do I need to associate with a broker to get 1/4 of the commission? what is the best way for me to save money?
I'm going to look at house today later on, Thanks so much for the knowlage!! thanks to the video I have more confidence about what I'll do once I get there! plus I looked around the area for same price propeties and turns out the interior livable area was almost twice on every home. Only down side so far since its a new home we'll see what else. One question the fences are missing all around the house... is that something I should write down when making a last offer>?
There is so much manipulation and psychology with this . Just make a offer and walk away . The market will determine if it sells or not . There are many overpriced homes on the market and they will always be on there .
I’m buying a house from a friend , we agree the appraisal price is fair . All we need is a title company and loan officer to complete deal . Correct me if I’m wrong . No agents
How to deal with sellers who lie... move on or ask for proof. No proof? Move on. When does the inspection come to play? When you are ready to agree to terms
The typical listing contract has the buyer agree to a TOTAL commission up front, say 6%. The listing agent agrees to SHARE part of the total commission with a buyers agent. If there is no buyer's agent, then the listing agent gets to keep the ENTIRE 6% commission, even if the buyer wants to represent him/herself. The listing agent really has no incentive to kick back any of their commission since the seller already agreed to pay their agent 6%.
The seller's agents incentive to kick back the commission to the buyer is to get the sell, so they can collect a commission for themselves. If they don't make a sell, they don't get a commission either. They make the same either way and if they are willing to compromise on the 6% commission, then they lose the sell.
Wow... these are amazing skills to learn, negotiations and control. you're very convincing , thank you for sharing! How would you negotiate if you are dealing with the estate lawyer ( the owner is deceased) ?
No difference really. Rather than focussing on the motivations of the seller, you'd want to focus on the motivations of the estate lawyer. Thanks for watching.
@@EpicRealEstate thank you for your prompt response, it helped me today, waiting to hear from them. I am not sure how to come up with the offer, since the property' condition is not good at all comparing to the comparables in the same building and surrounding, and also, the interest rate is much higher now than a month ago . I would be grateful of any tips?
When an offer has been accepted and a realtor on the seller's behalf is present. How do we go about choosing the closing company, for earnest money deposit, etc. And what documents should we as buyer be looking for? Also shouldn't we want to also find out about home inspection, loans and back taxes attached to the property? Thanks for your helpful video.
Pretty simple to look up a closing agent online or ask a fellow real estate investor for a referral. Yes, you should want to do all of the due diligence AFTER you get the contract signed. Thanks for watching.
You could pay a realtor to write up a basic offer and then save a pdf copy, or pay a lawyer to do the same and even ask questions about whether the contract binds you to something you don’t want to do/should be watching out for-Lawyers here in IL charge $500 ish for this kind of service and you’ll have a basic contract in hand.
🔥I just finished up a new report on much of what we’re up against when it comes to our financial futures and how to save yours, if you’d like a copy… I made it really easy and uploaded it for you here 👉 EpicFreedoomBook.com 🔥
Awesome video love it..
Not sure why but I think this is the first vid I've ever seen that actually breaks down how and what to say when making an offer. Love that he got specifically to the point. First time viewer. Thanks
Straight to the point, no click bait & no bull. Thanks for keeping it real, new subscriber.
Thanks for the sub. To be straight... click bait here is not entirely out of the question, but I make it a point to ALWAYS deliver on the click. Thanks again :-)
This is the first great video I have seen on the topic. Well done and thank you.
There are so many fake videos out there on same topic but telling us junk. This is the only genuine video on this topic, going extra mile with detailed steps and phrases to be used. Many thanks for your efforts and sharing your experience.
I like the visual notes and scripts, very helpful! Thank you
You're welcome :-) Thanks for the feedback.
This is an awesome, vast, field of information! So valuable to the buyer! It’s all about the approach and research. Thank you so much for this info!
Great Value! Awesome Video..very informative, thanks for sharing.
Thanks Keith.
I’m finding it a little entertaining how many people are saying this video has manipulation and sales techniques in it and thus you should just hire a realtor. If you have hired a good realtor what do you think they are doing differently? What I’m seeing is the assumption that the seller has the upper hand, they can just sell the house to someone else and that is fine.
Agreed. If you want to pay full price, then pay it. You don't need a video tutorial for that :-)
Dude, you did a lot of talking for no reason at all.
go to 2:30 to skip all the rambling
Finally a video that’s not just some realtor trying to sell me on why I should get a realtor.
When going at it alone with the intention of negating the buying agent commission. Does it usually work out where the selling agent makes a with the seller (seller takes lower offer, but pays only half commission), or is it a deal between the selling agent and buyer (buyer makes regular offer, selling agent gets full commission, then kicks back half to buyer)?
You've stated $170K and the seller rejected it.
Then you asked the seller what they think the price should be after considering the market and the current condition.
When the seller states their reduced price, say $185K, then talk about the difference:
"Thank you, Mr. Seller. Now it seems like we're only $15K apart, which is a bit too much in my view. Is that the best you can do or can you help me to say yes by reducing that $15K gap?"
you have cleared many concepts and provided a great strategy for a win-win situation. Thanks
Really useful information. No like some other videos that beat around the bush and don’t teach you anything.
What paperwork would need to be used to make the written offer?
Every state might have some nuances with regard to the paperwork required, but I have used simple purchase agreements that can be found in just about any stationary store.
If the Seller is represented by a Realtor, they'll probably require you to use the state Realtor form, of which they can provide that for you.
If you're dealing directly with the Seller (no agents involved), something like this should do the job just fine... amzn.to/2EGAMT1
Thanks so much for your speedy reply!
Great video. Also I would add that you should always include an earnest money deposit in the offer so they know you are serious and you have solid financing.
Why would you have the buyers agent fee kicked back to the sellers agent vs. taking that percent off from the price of the house. If I'm representing myself, there's no agent the seller has to pay and I want that money to come off the price of the house. If I need the sellers agent to do any work on my behalf, then I will give him something, otherwise, I want a price concession, as that can really add up, especially with the prices of decent houses now days.
Would you have objection/rebuttal scripts you'd be willing to share?
I don't really operate from objection handling scripts, but rather like this...
th-cam.com/video/O7XXKEicYpc/w-d-xo.html
WOW! This is just what I was looking for, you're brilliant!
Thanks for watching :-)
I would say the pricing part was pretty off, but otherwise some good info. Part of the reason I do NOT care to use a realtor is they often are very erratic with their pricing. Years ago when I sold my first house, their estimates for resale were 329 to 510k. I sold for 460k, which was 30k above the appraisal. I also find depending on the realtor they'll give you too high of a price to try to get your business, and then say the market has softened and you should take this much lower offer. Half the time its because they're about to collect both the selling and purchasing commissions... Its a very strange occupation that kind of works against the buyer's and seller's best interests.
Also, a big part of both buying and selling a house without a realtor is understanding the paperwork, decide on a deposit amount, how to choose a lawyer etc. I would say that would be an important follow up video.
I want to buy a home however I want to do it myself because I’ve talked to multiple agents and no one is interested in helping me. Example a house was $180,000 I asked if we can put in an offer of $175,000 considering my budget and that the house was listed for pass 40 days and it needed repairs which we were ok with. The agent told me no that we have to either give them the asking price or more and we never put any effort to trying to get that house and eventually it sold for $170,000 way below the asking price. I feel like no one is helping me nobody contacts me, I have to find all the houses myself, the home can be missing a roof and the agent is still telling me I have to pay the owner the asking price of $300,000, it’s ridiculous. I rather put in offers and get rejected then sitting around doing nothing.
change agent
find another
Hey matt,it's very simple and strategic plan,thank you ,youv'e paved the way for us greenhorns.
Thanks for the feedback, and thanks for watching :-)
The entire exercise relies on the buyer extracting information from the seller that they later use against them . A thinking person will know this : " Mr. Market is not the bad guy...I know what Mr. Maket says it is worth and I plan to sell it for that...but you ( the buyer ) have extracted info in casual conversation that you are now using against me. Hit the road. No deal for you " That is what a thinking seller will do.
I enjoy the most when people that tell me what I've been doing daily for the last 15 years doesn't work. Thanks for watching, though.
The best video I've seen on this topic. Thank you so much!
Buying a home based on emotion is always expensive. Houses are always investments. You can lie to yourself, but it's still an investment.
Not always a good investment 👉 th-cam.com/video/J7mHECXWs8c/w-d-xo.html
thanks for watching.
Awesome info, thank you. I know this is two years old. I doubt in today's market with sellers getting 30 offers in a weekend will meet. I'll try though.
Put in multiple offers yourself. When conditions change, strategy must change.
Thanks for watching.
I have a house I love and found out last week from the owner that he bought it for 120k to flip and sell(he has been flipping houses for years). neither of us want to use a realtor and he asked for our input and to let us help him work on it. Would that be a good idea and would it help us in cost?
How did it go ma’am??
I can’t think of the last time I have actually seen a seller....let alone a seller in their house giving a tour of the home. YEARS AND YEARS.
What market are you in? Sounds like a wonderful place where time has stood still.
In fact this guy somewhat reminds me of Carlton Sheets.
Haha... sounds like you're missing out on the off-market deals of the 21st century.
Thanks for watching, and the laugh.
@@EpicRealEstate keep that 21st Century gem all to yourself. Don’t let me or anyone in....we will all just spoil it. :-) Keep making it happen!
Great insight! Thanks for sharing!
This video is beyond helpful. I can’t hype it up enough. Thank you for sharing!!! I’m big on “everyone winning”. Would feel terrible otherwise ❤
this is very informative!
What if you get that stubborn one that insisted their bottom line is still the overpriced value? Then it is a no deal and move on to the next property?
I usually noticed that there is a pattern. High end seller is usually generous when it comes to negotiation but lower to mid (sometimes) end sellers are usually overpriced their home and stubbornly refused to lower the price. Only those that are already in a financial distress that they finally become cooperative.
At the end of the day, you can't force someone to sell their home. If they want more than what the property is worth, that's their problem not yours.
I don't see patterns between higher end and lower end properties. Distress hits people of all economic levels the same, and ultimately that's what will lead to a discount.
With all that said, this video was more about how to present on your own, and how to use some investor know-how to get the best deal possible on your primary residence.
Thanks for coming back, and thanks for your contribution.
Hello sir looking to possibly purchase a condo in state of Massachusetts how would estimated closing cost be on 103,000 property? ( rough estimate)
Thank you sir
What would
Lamont Stewart 2-5% of the home . I would assume 2-3 thousand for you
Thanks for such detailed explanation of all the stages! All the suggestions for phrasing become even more valuable when English is not your native language and you have no previous experience in negotiations on such matters.
You're welcome. Thank you for watching :-)
Great video and info...OK once you get a contract accepted and signed...How do you set up an escrow?
Fine im subscribing
11:19 This strategy may work if the seller isn't intelligent enough to realize that the houses used as comps ALSO needed similar repairs and weren't perfect.
Where would the inspection come into play?
After the contract is accepted by the seller.
Thanks for watching.
None of this went over actually doing the paperwork or how to make an offer, you know... the reason we came to this video.
I really did enjoy this presentation thank you! You seem friendly, knowledgeable and i feel these could work! Not in 2021 market, i doubt, but maybe after. Thanks again
i'm buying a cheap damaged property to fix and live in it fits my budget range and fixing skills its a foreclosure , any idea what the bank care about in an offer ?
If one asks to meet with the seller, the listing agent must always accept?
No, if the seller doesn’t want to meet. But, my request has never been denied [knock on wood]
Thanks for watching.
@@EpicRealEstate Thanks👍
Thanks for sharing. Any tips on what you put in the written offer? Do you wave inspection or other contingencies?
you a genius son
How do you do this with a new home when it’s the builder?
The same way, but... a builder won't be your best prospect for getting a deal.
This tutorial was created with private sellers in mind.
Don’t u have to get an inspection and
Deed search first ?
I know absolutely nothing about this.
I’m trying to buy my first home.
That would typically happen AFTER you reach an agreement with the seller and a contract has been signed. Doing so beforehand will typically result in a waste of your time.
Thanks for the question. Good luck!
Please use a realtor. My uncle said it best to me "just because you can change tires, doesn't make you a mechanic ". The seller is the only one that wins when you don't use a Realtor. Be smart.
Abena0205 Many buyers agents now are known for working for the seller (they get a commission from the selling price), and essentially keep the buyer on the outside of the negotiations, only sending you numbers and counter offers. it can be very frustrating if you think the house is priced too high for market. Ultimately if you try this guys method and you feel it’s not working in your favor, don’t sign anything and go hire a realtor for the next offer.
@11:40: This math assumes the comps didn't need any repairs. I don't think that's a reasonable assumption.
No, didn't assume that at all. Like every question or concern in real estate, the answer is "it depends." It's impossible to address every variable in every conversation.
The bigger point of this lesson is the positioning of an offer.
@Epic Real Estate Investing:
If I were a seller and you showed that calculation to me, I'd say that the comp values are net of repair costs on those houses. So, unless you can show me that my house needs more repairs than those other houses needed, then the net sale price of my house should be roughly in line with comps.
@@ncooty Thanks for the clarification, but again... "Like every question or concern in real estate, the answer is "it depends." It's impossible to address every variable in every conversation."
Also, when you put sellers in your shoes, you are inadvertently negotiating against yourself.
At the end of the day, though... do what makes you happy.
You are amazing! Nice presentation. Can I have the first to firth steps sent to my email? Thank you
Thank you! Very helpful, when you say "let's put the offer on paper" what exactly does that entitle? Having a Escrow Company put the paperwork together? Or a attorney writing up an notarized offer?
I see you've already answered this question below. Nvm thank you.
No, but all that does qualify. What I'm specifically referring to is presenting a written offer on a formal purchase agreement to a seller.
Many investors leave money on the table by trying to negotiate everything verbally and if they can't come to an agreement, the deal dies. But, when you put an offer in writing, it frequently can change the dynamic of the entire conversation.
Let me know if you need anything else.
This was awesome and fair info man! Thank you!
Glad it was helpful!
Thanks for watching.
This was great thank you!
Glad it was helpful! Thanks for watching.
Why would you not want to work with an agent as a buyer? The seller pays the buyer agents commission so you'd have no dues.
The commissions may come off the seller’s side of the P&L, but who’s writing the check for the house?
@12:26+: You seem to believe what most salespeople believe: that it's all about saying the right words to manipulate people. I realize that belief makes the salesperson seem more important than the product or the content of the transaction, but I find it sleazy and off-putting. (E.g., don't worry about the _quality_ of the product; just make people _think_ it's valuable. Sell the sizzle, not the steak.)
Maybe you're right and sellers are rubes, but I wouldn't want to condescend to someone else that way. _(If you say it the right way, you'll trick the idiot into thinking your offer was their idea!)_
I'd tell someone to leave if they spoke that way to me. In fact, I'd have asked you to leave the first time you asked, "Is that fair?" Such a salesy line, especially when posed that way.
I don't know what most salespeople believe. If your way gets you your desired result, ignore me. Thanks for watching, though.
thank you for the video. I am going to take a real estate salesperson exam. after I get the license, I am planning to buy my own house. so in that situation, can I represent myself and get half of the commission? or do I need to associate with a broker to get 1/4 of the commission? what is the best way for me to save money?
I'm going to look at house today later on, Thanks so much for the knowlage!! thanks to the video I have more confidence about what I'll do once I get there! plus I looked around the area for same price propeties and turns out the interior livable area was almost twice on every home. Only down side so far since its a new home we'll see what else. One question the fences are missing all around the house... is that something I should write down when making a last offer>?
New subscribed for sure!!
Great info!
This is great information, thank you
Looking at the housing market is new to me. Where do I find houses FSBO? Looks like most/ all have a agent to contact
Zillow or Facebook market I've seen are pretty reliable
This was great! How do you put an offer on paper?
There is so much manipulation and psychology with this . Just make a offer and walk away . The market will determine if it sells or not . There are many overpriced homes on the market and they will always be on there .
HanchoPOW do it your way. I’m okay with that.
I’m buying a house from a friend , we agree the appraisal price is fair . All we need is a title company and loan officer to complete deal . Correct me if I’m wrong . No agents
you right
Excellent!!
Many thanks!
How do you deal with sellers who lie about the repairs and damage? When does the inspection come into play in these steps?
How to deal with sellers who lie... move on or ask for proof. No proof? Move on. When does the inspection come to play? When you are ready to agree to terms
The best way to get someone to do what you want is to make them think it was their idea.
The typical listing contract has the buyer agree to a TOTAL commission up front, say 6%. The listing agent agrees to SHARE part of the total commission with a buyers agent. If there is no buyer's agent, then the listing agent gets to keep the ENTIRE 6% commission, even if the buyer wants to represent him/herself.
The listing agent really has no incentive to kick back any of their commission since the seller already agreed to pay their agent 6%.
The whole point is omitting any commission for any sleazy "middlemen". Realtors 90% of the time are hot garbage
The seller's agents incentive to kick back the commission to the buyer is to get the sell, so they can collect a commission for themselves. If they don't make a sell, they don't get a commission either. They make the same either way and if they are willing to compromise on the 6% commission, then they lose the sell.
Clear cut thank you
Wow... these are amazing skills to learn, negotiations and control. you're very convincing , thank you for sharing! How would you negotiate if you are dealing with the estate lawyer ( the owner is deceased) ?
No difference really. Rather than focussing on the motivations of the seller, you'd want to focus on the motivations of the estate lawyer.
Thanks for watching.
@@EpicRealEstate thank you for your prompt response, it helped me today, waiting to hear from them. I am not sure how to come up with the offer, since the property' condition is not good at all comparing to the comparables in the same building and surrounding, and also, the interest rate is much higher now than a month ago . I would be grateful of any tips?
When an offer has been accepted and a realtor on the seller's behalf is present.
How do we go about choosing the closing company, for earnest money deposit, etc.
And what documents should we as buyer be looking for?
Also shouldn't we want to also find out about home inspection, loans and back taxes attached to the property?
Thanks for your helpful video.
Pretty simple to look up a closing agent online or ask a fellow real estate investor for a referral.
Yes, you should want to do all of the due diligence AFTER you get the contract signed.
Thanks for watching.
The incentive for the listing agent to do this is that they might get 4.5%, as opposed to only 3% if they sell to a a buyer with an agent.
Thank you
Where can I obtain a form to write an offer if I’m not using a realtor? Please advice :)
You could pay a realtor to write up a basic offer and then save a pdf copy, or pay a lawyer to do the same and even ask questions about whether the contract binds you to something you don’t want to do/should be watching out for-Lawyers here in IL charge $500 ish for this kind of service and you’ll have a basic contract in hand.
Great advise. Thanks
How can I do a title search
Through a title company.
Not a flippant answer, that's how you do it :-)
Way to act like a realtor when you don’t want to deal with realtors