Finding motivated sellers is great, but not good enough. To make real estate profits, you still need to sell your properties to turn your potential profits into låna 15000 actual cash. So I want to share with you a very special strategy for selling your properties. I call it the ‘Pre-Done Property Differentiator Technique’. Before we get to that I want you to understand a few things about what makes people buy homes in the firsts place.
I hope they will help your properties stand out even in the most crowded market. You’ll be able to attract more motivated buyers, and more serious offers to your properties. They’ll allow you to command a higher sales price. And it will all take you less than 18 minutes. The best part is that is absolutely free. Now this all sounds pretty attractive right? Well it’s gonna knock your socks off.
I’ve got a new term for you guys; ‘Housing Market Commodification’ which is a phenomenon where in a certain area, for whatever reason, potential buyers start treating those houses just like commodities. Everybody focuses on price, price, price.
The slight differences between them are ignored and the same value is assigned to the whole lump of houses. What that means for you as a Real Estate Investor is the only way you’ll sell your property fast is by selling it for the lowest possible price. Otherwise, in a commodified market, it just doesn’t sell. OK so we have to talk about how the heck do you beat this Housing Market Commodification?
To Improve or Not to Improve
Now a lot of folks try to beat the Housing Market Commodification by just making a lot of improvements and modifications on their home. This is especially true of motivated sellers. Now that’s a good strategy, sometimes. But not always. There are two problems with this.
First of all, when a market is highly commodified, even with all the improvements and add-ons, new features and upgrades you add to a property, also become commodities. Everybody just expects that every property is gonna have it! Secondly, the problem with using that strategy to try to beat the Housing Market Commodification is that it eats into your profits. You’re spending even more money. And you’re gonna earn less at the end of the day. There’s gotta be a better way.
In order to find a better way, we need to really need to get to the buying process that a potential home buyer goes through before they decide whether or not they’re going to buy your property.
Let’s Get Psychological
When it comes to closing deals, there’s a lot more you need to look at than just is this a motivated buyer or is this a motivated seller. If you’re familiar at all with the psychology of selling, you know that buying is an emotional decision. Of course there’s some logic and rationale involved. But at the end of the day, people buy with emotion, even more so with a home. There’s so much attached to it; family, finances, etc. so many different things. Now let’s take a step forward and look at the emotions that make folks buy a home and what are the emotions that prevent people from buying a property.
Home Go’s Vs Home No’s
Well I group them into two categories. The first I call, the ‘Home Go’, emotions that make people want to buy your property. One of them is a feeling of excitement, something new; a new property, home, neighborhood, a new opportunity, It’s all very exciting.
Another emotion is hope; hopeful that the home will fulfill their needs for themselves, for their family, for their security. Another great emotion is imaginative. Yeah, imaginative. That’s, when somebody comes into your property, into your home and can start picturing themselves in the home. Wow, I can imagine coming home and sitting on the porch here. I can imagine this being the new room for our baby. These are all emotions that draw them to your property, that make them want to make you an offer.
On the flip side we have ‘Home No’s’. Those are the emotions that keep them away. Fear that they might not be able to handle the property, that it might not be everything they’re looking for or that they’re making the wrong decision. How about feeling overwhelmed? For most people buy a home is the largest financial decision they’ll ever make in their life. There are a lot of lawyers, potentially Realtors, Agents, Mortgage Brokers involved; lots of money; a lot of paperwork.
The more overwhelmed they feel the less likely they are to make an offer to actually go forward. There’s also feelings of being skeptical. Can I really trust this person selling me the property? Is this property really good? Am I gonna run into problems with it along the way?
Now the whole key to getting people to buy your property is knowing how to get people over all these Home No’s. To do that you’ve got to make a little discovery. You see, when we look at theses different emotions, whether it’s fear, whether it’s feelings of being overwhelmed, feelings of skepticism, they’re all linked together by one common thread, and that’s uncertainty.
Fear, feeling overwhelmed, and skepticism all come from uncertainty. I don’t know If I’m in danger; if this is a bad move. I don’t know if I have enough time, and responsibility to take over this property. I don’t know if I can trust this person, this property. If you can find a way as Real Estate Investor to defeat this uncertainty which; by the way, is gonna come to that special technique I was sharing with you a little bit earlier. You’re gonna sell more properties. You’re even gonna be able to command a higher asking price for your properties.