Five Ways To Motivate Owners To Sell Their Property

What do you do when you when you uncover a hidden gem of a property but the owner does not seem to look interested in your offer? Homebuyers and flippers find this to be a constant challenge but the reality is, most sellers need plenty of convincing before they take on an offer. If you find yourself with an owner who will not respond to your offers, here some ways you can encourage the owner to at least listen to you.

Look Around for More Properties

Searching and inquiring about many properties at a time will certainly increase your chances of closing a deal. Call or email at least two property owners a day, pitch your offer, and be consistent in your schedule. This consistency will increase your network and improve the likelihood that you fill uncover a seller to accept your offer or at least make a counteroffer. The more sellers you pitch your offer to, the better.

Improve Your Purchase Offer

A good offer is impossible to reject. Remember: finding a legit buyer for a property is difficult. If you give homeowners a proposal that is complete and honest, then they will at the very least consider it. Sellers will know that you are serious if you make a formal offer.

Consider including in your offer your reason for buying the property, how you plan to pay for it, your budget range, and that you are willing to pay cash. A well-written cover letter or letter-of-intent to buy along with your credit report could also help seal the deal.

Visit the Property Before Making an Offer

Respect the asking price and inspect the property first before making an offer. Do not downplay the positive features of a property, but also point out what may need to be fixed or replaced, so you can reasonably say how much you are willing to pay for the property without offending the seller. You will also want to be aware of any special history attached to the property that you are buying. Most sellers appreciate buyers who express serious interest in their properties and oftentimes hold out to sell only to the ‘right’ person.

Stick To Your Timetable

If you plan to propose to several sellers, stick to your list and provide a limited window of time for each to respond to your offer. Do not waste your time on those who clearly are not interested in selling their properties. This is why proper prospecting is important. Know those who need to sell their properties immediately and give them 24 to 48 hours to accept or make a counteroffer. Follow up within that period and move on to the next seller if you do not get a reply.

Convince Agents to Help Motivate the Sellers

Agents directly deal with the property owners. Build a network of real estate agents that you can rely on and compensate fairly if they help you close a good deal.

Remember: it is difficult to motivate people to sell their properties; but with the right strategy, you can convince them without waiting too long and missing out on other opportunities to buy. A complete and straightforward offer is an effective way to get people to reply to your offer. Know your strategy and stick with it.