How to Buy Property From Unmotivated Sellers
Let’s talk about how to approach unmotivated sellers.
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First off, I have no clue why you would want to approach an unmotivated seller. The way to do it is quite simple—just don’t. Seriously, don’t do it.
If you are a real estate investor and you are trying to get someone to sell a house that they do not want to sell, what is the point? Think about a telemarketer who keeps calling you and trying to sell you braces when you have perfect teeth. It’s just frustrating, right?
Why You Should Find Motivated Sellers Instead
In my opinion, by approaching an unmotivated seller—no matter how awesome their property is—I don’t think you’re going to get the result that you are after. And not just that, I believe that real estate should be a win-win: a win for you as the real estate investor and a win for the seller.
Guys, you make money when you buy a property, not when you sell it. So it’s very important that you are buying cheap.
You need to be dealing with people who are motivated and have a sense of urgency. Maybe they have fallen on hard financial times or something is going on where you can come with a cash offer and quick close.
Then you’re doing them a favor! They can move on. They can get out of their mess. And they can use that capital to support or pay for whatever they need to do.
At the same time, you’ll get a bargain property! You can fix it and sell it or fix it and rent it. It’s a win for you and a win for them.
But you trying to play tug of war with an unmotivated seller is pointless in my opinion. There’s just going to be a clash of heads and a sour taste in everyone’s mouth.
I think your time is better spent on finding motivated sellers. Capeesh?
I want to say this to real estate agents, too. Look, I love you guys. I love the effort, the commitment to the numbers, the door knocking, the handing out business cards, the cold calls, and the databases you keep up-do-date.
But like I say to everyone else, why would you try and convince someone to do something that they might not be ready to do? Why would someone list their property with you if they’re not motivated to sell it?
And if you do convince them and get them across the line, what’s going to happen? They’re probably going to ask you for top dollar, more than the value of the property.
Or they’re not going to sell it. They’re going to complain that you’re not doing your job properly, and they’re going to give you a mouthful.
It just ends up going nowhere. You won’t get the result you want, and they won’t get the result they want. In my opinion, there is no point in it.
So guys, how do you approach someone who is not interested in selling their house? Don’t approach them.
Your time is better spent focusing on people who are motivated to sell. That way you can structure a win-win scenario for everyone involved.
Am I wrong or am I right?