Buyer & Seller Motivators

Buyer & Seller Motivators

Residential Real Estate Broker · Conroe, TX · Member since 2008 · 1k+ posts · 43 votes

As I finished showing property to a prospective client I noticed that while viewing the property I was able to predict that the current residents were involving in a divorce situation with almost pinpoint accuracy. I thought about something that has become apparently clear to me over the years which is.....not everyone is motivated by money whether buying or selling.

How did I determine that it was a divorce situation? Well I checked the deed history info on the home and noticed that the sellers had purchased the house with a 80% LTV loan and had put 20% down. This usually means bad credit. Furthermore they were taking a loss on their entire downpayment. The other factor was that the house had undergone some abuse like kids drawing on the walls and filthy carpet...which means unattended children.

I remember when I was much younger I purchased a $3,000 living room set because I liked the painting that was hanging over. If I knew then what I know now, I would have just bought the painting.

My first real estate transaction was after taking some of the Ed Beckley courses. I structured a seller finance within a trust type deal. The seller's religion/believe system dis-allowed him from taking advantage of anyone by way of usury hence he felt it was unjust to benefit from the $40,000 in appreciation on the sale of his home. So I paid the same price for the home that he did. I said Praise the Lord!

I thought I would put the question to the group as an opportunity to brainstorm, share and learn from the cumulative data.

This question is what have been the motivating factors involved in some of your transactions whether buying or selling? And the second part is How do you determine that these factors are in place.

thanx

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  • Member since 2008 · 249 posts · 6 votes
    20y

    Great thoughts. The more time I spend with buyers and sellers, I find their emotions/upbringing/lifestyle/etc. play a bigger part than I ever realized in their decision making. The key I constantly find to success is asking questions repeatedly. Eventually, I stop asking and they start talking. That's when the lights start coming on.

    Again, great thoughts!!!

  • Residential Real Estate Broker · Conroe, TX · Member since 2008 · 1k+ posts · 43 votes
    20y

    Asking questions then listening to the answers is a must in this business. Anthony Robbins teaches a principle that goes like this......."People like people that are like them".

    People that like themselves generally like people who are willing to listen to them talk. The more you listen, the more they seem to like you. This tends to make negotiating with them an easier task.

    There's a scripture somewhere in the Bible that says "paraphrased"...."even an un-intelligent man will be considered to be wise if he is in the company of wise men who are conversing and chooses to keep his mouth quiet.

    Thanx for the input, asking questions and listening is a real important key.

  • Member since 2008 · 37 posts · 0 votes
    20y

    When I call on FSBO's or better yet, when they call me......instead of wasting my time....and the potential sellers time too, I ask ONE simple question:

    Mr. or Mrs. Seller, on a scale of 1 - 10 (ten being the highest), how motivated are you?

    If they answer with an 8 or below.....I simply will not work with them.

    It's direct & to the point but......you have to be in this biz! :wink:

  • Residential Real Estate Broker · Conroe, TX · Member since 2008 · 1k+ posts · 43 votes
    20y

    I like that concept....I'd like to find a way to intergrate it into my system.

    good one!

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