Why You Have To Be Willing To Walk Away To Close the Best Deals

[Jonathan Greene]

In every corner of real estate, those that are willing to walk away will always close the best deals. That doesn't mean you have to be rude to walk away, it's all about valuing your time and price and not spending excess time in a back and forth when you know your numbers. Too often as a new investor, we can't let go of that property we love so much. And then we pay for it later. All because we weren't willing to walk away.

My strategy as an agent and as an investor has always been the same. This is what I have to offer, I am confident in what I am offering, this is my only offer. No hard feelings if you don't take it, here is my card or contact info, just give me a call when you decide. Then, I never, ever adjust my offer. I still think negotiation is valid, but it's often just a game because neither side wants to walk away. For me, it's a waste of time to go back and forth over and over again. I don't like to spend all this time going back and forth over $1,000 or one cracked window.

As an investor, I submit my offer with an explanation of why my numbers are the way they are and that's it. I don't keep calling them, I don't even worry about it. I will check in two weeks later, but they usually call back before then if they were really ready. Once a seasoned seller knows you will negotiate, they will keep going and expect you to follow. When you lay out why your terms are just as important as the price and give a detailed background on the comps and compare them, there isn't much they can say. And PS, no one else in your market is likely to give them all of that information. That's why your offer is your only offer.

Some people find this too hardcore or not friendly, but it's not like that at all. It will save a ton of time over the year and give you more freedom to make more offers instead of waiting on one. I know that a lot of people hug the deal because they are hard to come by in their area, but that still doesn't make it a good deal if you can't get it at the number you want. You can still be friendly and build a relationship with a seller by not caving or wavering. In the end, I think that most sellers respect this more and trust you more when you say "this is my offer and this is why" and then you stick to that, no matter how long they take to get back to you to do the deal.