Mike Ferry Reveals Secret – How to overcome common challenges while in Real Estate Dealing?
Over the last several months, Mike Ferry have asked agents who have attended his prospecting school here in Las Vegas, NV what their biggest challenges are while dealing with Buyers and Sellers. We have received great questions, so we wanted to use this forum to answer them for you.
Common Challenges to overcome while dealing with Buyers and Sellers in today’s Market:
1. What do you say to a buyer that wants to write a “Low-Ball” offer?
Answer: Are you aware, Mr. and Mrs. Buyer, that the sales prices in most of the country have dropped far beyond anybodies wildest expectations since you are aware of this, do you feel that making a low-ball offer creates any room for negotiations with the seller?
2. What do I say to a buyer who say’s they want to wait because they think the prices are going to continue to drop?
Answer: Mr. and Mrs. Buyer, obviously we do not know if prices are going to drop any further than they already have. We do know, of course, the prices today are the prices we had 15-20 years ago in the Real Estate market. Are you buying the home today as a home for you and your family to live in, or are you buying the home as an investment to make an immediate profit on?
3. What do I say to a seller who wants to wait until the market gets better to sell their home?
Answer: Mr. and Mrs. Seller, the market has recovered dramatically in terms of the number of sales being made every month throughout North America. Since the sales we are making today are at the same pace as the pre-economic recession pace, why do you feel waiting is a good idea?
4. What do I say to a seller who thinks their home is worth more than it is?
Answer: Can you tell me specifically why you feel your home is worth X number of dollars more than all the homes that have sold in the area to-date? Are you selling your home because you are trying to make a profit, or are you selling your home because you have to move?
As you know, asking great questions expands your knowledge and helps you to continue to grow as a Real Estate professional.
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