Presenting your offer without a realtor

[Wesley W.]

Hi all!

I've done some searching, but haven't found something akin to "The Idiot's Guide to Presenting Your Own Offer."

I've only ever purchased/sold property using a realtor. So, if I am looking at a FSBO property for a buy-and-hold portfolio, I go to my attorney and we construct a contract.

Then, how does it get presented? Do I walk over to the owner and hand it to him? Do I mail it? Do I verbally discuss my offer with him beforehand?

I'd obviously like to have the offer presented in the way that will maximize the chance of success, so how is it done?

I know if my offer is "so low as to be insulting" the seller is obviously not motivated enough (yet!) - so how do I couch a low-ball offer to him in a non-adversarial way? Do I let him know how I came up with such a low offer? Do I provide documentation?

How is it done?

Thanks for your collective wisdom!

[Tom Goans]

Excellent question Wesley,

This is how I have been approaching buying and selling real estate of all types for almost 50 years. I NEVER work with a real estate agents for numerous reasons. I have been very successfully investing, managing, and selling my own properties since the 1970s.

When working with a seller, remember, the seller has an emotional attachment to the property. This is their baby. If you are offering less than they feel the property is worth, you are saying their baby is not as special to you.

Brush up on negotiating skills. This is critical in all aspects of the real estate business. Buy several books and audio media. Become an expert at negotiation.

Embrace what your seller believes. Understand. Walk a mile in their shoes. Shut Up and Listen closely to every word and the emotion behind the words.

Then offer a solution. Your solution may be less money than was desired, but you plan to take very good care of the seller’s baby, give it a new coat of paint, and ... You plan to enhance, not change, enhance the seller’s baby.

Get the seller to appreciate your position and even embrace your thoughts. Now, the seller wants you to buy the property - even if it is for less money.

This is just one way to approach the opportunity. Make it an opportunity for both parties and you will be successful. Win-Win.

The opposite is true when selling. Be a problem solver - not a buyer or seller.