Overcoming doubt - property on market

[Scott Gordon]

How do you overcome your doubt when dealing with a property that’s been on the market for a substantial amount of time? i.e. a property has been on the market for 120+ days - I keep wondering, if it was a good deal why would it have stayed on the market for so long?

[Lee Fuhr]

I almost never offer on properties that have just recently been listed.  I specifically sort my searches by day on market in reverse, so I'm only looking at the properties that have been sitting.  Sellers get more and more likely to accept a lower purchase price the longer it sits.  Never offer asking price if a property has been sitting.  And don't get emotional about it - if the numbers work at $50k, offer $45k or $48k, knowing you have a little wiggle room, but then be willing to cut bait if they won't meet you at $50k.  Real estate as a profession has to be about the numbers.  If you put your heart in it, you'll end up paying more, and that can spiral out of control and then you aren't making any money.  Get emotionally attached to the property AFTER you've successfully closed on it for a great price - never before.  Good luck!