Using The Golden Rule

When you are looking to buy a property, the best thing you could do for yourself is furthering your education in real estate investing. Never stop learning how you can be investing better or how to create ways to buy a property or structure each deal. It isn't always about the money when it comes to the real estate deal and information is power. You can use that power when you put yourself in the place of the people who own that property and are looking to sell it to you.

Of course price is an issue in any real estate deal but to negotiate wisely you need to know the seller's motivation for wanting you to buy their property. The best way to discover this is to ask good questions that are open ended so they can't offer you just a yes or no response. The more they expand on their answer to you, the better chance of you understanding their motivation to sell. While you are asking these questions keep in mind that while you want to negotiate a deal to own this property, they probably love their home and it is often important that they like you and will feel good about letting you buy it.

Remember to talk with them not at them. Don't turn it into an interrogation but rather a conversation. Given two equal offers they are going to go with the person they like and that can be you every time you negotiate to own a real estate property if you understand their motivation to sell. It isn't rocket science, just common sense and the golden rule whereby we treat others as we would like to be treated.

Rhonda Hoffman

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