Running real estate business is a challenge. However, it is not something impossible to be successful in this business since lots of people have proved it. The main thing to remember when it comes to property business is that it is about numbers game. Every step and plan should be calculated thoroughly for more positive results. To build your business, you need to earn as many leads as possible. The more leads you earn, the closer you get to close the deals.
However, lots of experts say that numbers of leads don’t necessarily determine in closing the deals. There is more important factor to consider which is to improve the offers you make or how you make them. Lots of investors think too simply regarding to this matter. They do everything in order started from submitting an offer, waiting for a counter, and close it. However, the reality is not as simple as that because the market has its way.
How to make effective and attractive offers
The market today focuses more on attractive offers. Thus, it won’t do if you just simply submit the offer and wait for a counter. You will only get a counter offer if your offer is attractive enough. What to do to make the right offers so that your chance of acceptance will go higher? Here are tips you can follow:
- As mentioned earlier that it is important to make attractive offer. Thus, you need to do it to grab the attention. In order to get the attention, you need to find out more about your target. For example when you are in buyer’s market, finding out the seller’s situation will help you make the right offer. You will be in upper hand with all information you gather. Thus, you can then make attractive contract for the seller. Make sure to make some concessions to get your price.
- Don’t be hesitant in dealing with the offers. It is important that you are decisive. Generally, seller will accept your offer in two weeks. It is the most ideal deal. However, there is also situation when you have to proceed negotiation. Thus, it is more recommended to follow up within 24 hours without prompting the seller for quick answer. Just make sure they receive your offer and make yourself ready for further follow up just in case they have something to ask. Make sure you already have had number in your mind which you are willing to pay. If you already mapped out your number before submitting initial offer than it will benefit you.
- Make everything less difficult than necessary. There is no use to put some resistance in making offer. It is highly recommended that you make clean, legible and signed contract to submit. The lenders tend to accept reduced cash if the deal is easy to close. If you choose to pay cash, make sure to make it ready within a week or two in max. Or, prepare yourself some cash as down payment on the contract.