BiggerPockets Podcast 321: How to Negotiate Real Estate—Expert Deal-Making Tactics with J and Carol Scott and Mark Ferguson

by | BiggerPockets.com

Would your real estate investing business benefit from better negotiating tactics? Of course it would!

On today’s show, Brandon and David sit down with J and Carol Scott, as well as Mark Ferguson, co-authors of the new BiggerPockets book The Book on Negotiating Real Estate. The authors discuss several powerful negotiating strategies, plus common misconceptions about negotiating, how “winning” in negotiating doesn’t always mean the other side is losing, and how the best deals are done through building rapport (with examples of how to do just that).

You won’t want to miss their tips on how to prepare for a negotiation beforehand—something that’s made them hundreds of thousands of dollars over the years—and how to negotiate with your own contractor to get the best prices possible!

This episode is full of advice to help you, the investor, save money and get deals. If you want to experience better results getting what YOU want out of a deal, download this one today!

Click here to listen on iTunes.

Listen to the Podcast Here

Watch the Podcast Here

Help Us Out!

Help us reach new listeners on iTunes by leaving us a rating and review! It takes just 30 seconds and instructions can be found here. Thanks! We really appreciate it!

This Show Sponsored By

Sharestates is America’s private lender. We fund fix-and-flip, ground-up, term, and refinance projects nationwide across all asset classes: residential, multifamily, mixed-use, commercial and land. Sharestates offers high loan-to-value funding at competitive rates and quick closings. Broker and correspondent lending programs are offered as well.

Request a quote today, visit biggerpockets.com/sharestates.

Deep Dive Sponsor

simplisafeCheck out SimpliSafe Security’s DIY home security systems; an affordable, wireless, cellular, and customizable system that doesn’t require a contract!

If you go to SimpliSafe.com/biggerpockets you’ll get 25% off any new system. That’s an amazing deal.
They rarely do anything like this but they’re doing it just for us!

Fire Round Sponsor

WizeHire is an online recruiting service that fuses recruiting software with the personal service of a hiring coach to help you find the best candidates for the job. They do all the heavy lifting for you so you can stay focused on what’s important.

Visit WizeHire today!

In This Episode We Cover:

  • Introducing J, Carol, and Mark
  • Common misconceptions about negotiating
  • How winning doesn’t always mean the other side losing
  • The right mindset when it comes to negotiating
  • How building rapport can get you deals
  • Learning to shift the negotiation off of price and into something else
  • Tips in preparing for your negotiation beforehand
  • Negotiating with your contractor to get the best deal possible
  • The tip that’s made them hundreds of thousands of dollars over the years
  • How they closed on a deal using negotiating tactics to lower the price on an already great deal
  • And SO much more!

Links from the Show

Books Mentioned in this Show

Tweetable Topics:

  • “90% of negotiation is literally the skills all of us already have.” (Tweet This!)
  • “Treat every conversation as a discussion as opposed to as a questionnaire.” (Tweet This!)
  • “Negotiate everything, always.” (Tweet This!)
  • “The person who cares the least has the most power.” (Tweet This!)

Connect with J and Carol

Connect with Mark

Bonus Episode!!!


In this bonus episode, co-authors Carol and J Scott read from Chapter 5: Seller Motivation and Leverage. This passage reveals the exact questions the authors ask sellers, and how to “aggressively listen” for valuable information — even when making casual conversation. Plus, Carol and J do some investor/seller role-playing.

Order “The Book on Negotiating Real Estate” today at www.BiggerPockets.com/NegotiatingBook; you can get a physical copy, eBook, or audio version (that one is read by professional narrators) — OR just get the Ultimate package, which includes everything, PLUS access to two live Q&A webinars with Carol and J, two bonus videos, and a Quick Reference Guide with the top negotiating tips and tricks from the book.

Enjoy this sneak peek!

About Author

Thanks for checking out the BiggerPockets Real Estate Investing & Wealth Building Podcast. Hosts Joshua Dorkin & Brandon Turner strive to bring top-notch educational content and interviews to our listeners -- without the non-stop pitch prevalent around the industry. With over 180,000 listeners per show, the BiggerPockets Podcast has become the biggest real estate podcast in the world. But don’t take our word for it. We’re the top-rated and reviewed real estate show on iTunes — check it out, read the reviews on iTunes, and get busy listening and learning!

3 Comments

  1. Christopher Smith

    Good Session

    Mark Ferguson actually advised me on a 2016 SFR acquisition. He doesn’t know me from atom as we have never met, but I asked him via an email if he would eyeball at a very high level my numbers and then give me a tentative up or down. He looked at the numbers and gave me an up indicator so I went forward with negotiations.

    It was a situation where the couple I was negotiating with had an original buyer fall through, a replacement home about 85% to 90% complete, and the prospects of being obligated on two mortgages. Long story short, I had my property manager (out of state buy that I could not attend personally) let the couple know upfront that II was an investor so the offer wouldn’t be at a full retail price. However, I had cash and since an inspection had been performed for the prior failed offer, I could close the deal in no more time that it would take to wire the funds.

    I got the deal at a really good price, and the couple was relieved of their original mortgage obligation which was huge to them. I also permitted the couple to live in the house (till their new home was ready) for an additional month if they would allow me to show it to prospective tenants. They were happy to agree to that, and I had the property rented before the couple was gone.

    It’s actually my highest percentage yielding rental property (nets nearly 70% of an above market gross rate), plus its appreciated from 185k to 245k in the last 33 months.

    • James Sickler

      I came to the show notes to check out the Discount Code for Pro Membership as well! I assume they would not have left it in the podcast if they weren’t going to honor it. However, Brandon could have just gone off script and is now in trouble:)

Leave A Reply

Pair a profile with your post!

Create a Free Account

Or,


Log In Here