night hunting spotlights
night hunting spotlights
"Sale Straight or No Deal." (Charlotte Realtor when presented with a location-specific offers)
"It Nothing like playing with house money. "(Las Vegas Creed)
Oh, it was difficult to find real estate agents who want to deal with location-specific perspective of listings for sale. Some will not call you back. Others take the offers and not respond. Some will tell you that their customers are not interested. Then, others ask for the world: 10% down, first and last months rent and a premium rent 20%, and closed within 6 months (if not it would be an immediate funding be a problem?).
But, as Tupac said "I 'm not mad at cha. Got Nuttin but love for you. "For me, the reluctance of estate agents to enter into lease-trafficking own more as a question that should be corrected from my side of the altar. If I had to hire own better, Realtors on the other side of the transaction would strongly reminded me back. I honestly believe that almost all real estate agents want to do the right thing for their customers. However, my presentations are not addressing the lingering concerns they have. Specifically, I show not:
- Value lease-own for their customers (they see risks)
- Incentives more on this in section next week (they do not see how they may pay)
First, let address the objection of value. In the book, "The genius of negotiation" by Deepak Malhotra and Max Bazerman they have a 5-part of the stage of a successful negotiation. The first step is "Assess your BATNA. OK-how. The next step is …
Wait! What the devil is a BATNA? BATNA stands for Best Alternative Negotiated an agreement. Or in simple terms, if this does not work, what I do instead? Everyone does it mentally to some degree in their head, without thinking.
Example: OK, Mark has you asked to leave. Do you say "yes" and go out with him this week? He is average looking and needs cut his nose hair, but it seems kind of funny. If you say "yes", you have a date (and a free meal) on Friday night. If you say "No" you can be sitting home alone (again) this weekend to watch television and listen to your friend, Molly, complaining about his terrible life for an hour on the phone. Oh geez, it could get worse, Molly would want to stop if she knows you'll be at home …
So, either you can go out with Mark and complete the negotiation of an agreement (a date), or deny him. Your BATNA is to stay home, watch TV, and try to evade Molly.
But that's life! This could be even more complex, who knows? " Mark's friend, Hot Dan, could call (unbelievable as it may be …) and ask you out. If you go out with Mark, it would destroy your chances with Hot Dan. But is it really going appeal? You've heard he loves suggestive Suzy. Decisions, decisions, decisions …
This is the exact scenario even for a rent-own offer. Right now, your client has one vacant house on the market, they lose money because they must pay two mortgages (home vacant and where they live now). For this example, we assume the payment on their house vacant is $ 2K/month. The hope is, of course, that expectation worthwhile and they sell their vacant house in the near future. Analyze negotiation:
Offer: Rent-tenant own offers 4K $ fee option down, $ 2K/month, and wants to buy the house at market price in two years.
Seller BATNA: Continue to pay $ 2K month wait for a buyer very coveted will be a below market offer.
Rent-to-own Buyer BATNA: Look for another suitable house out of 10,000 + homes on the market are vacant.
But what if there is an agreement?
Agreement: Seller shall cease to have to make a payment 2K $ monthly and carries a potential gain net 96K $! Instead of paying 2K per month, they receive 2K per month. ($ 2K + $ 2K = 4K $ X 24 month lease = 96K $!). Remember the cost 4K $ option to pay the landlord, UPS net to a sum cool 100K! Rent-to-own Buyers get a chance to build their credit, accumulate a down payment, and start building a life in a house that will be theirs. Everyone wins.
Before you say it ( "But lease-own tenants ever buy!"), Say they do not and leave at the end of their lease. It Now the spring of 2012 and the market seems much better, is not it? Perhaps you can list the house for much in a market sales much better?
Know BATNA your client and act accordingly! Perhaps on reflection, you may want to take this time with Mark (to avoid Molly) and forget the wick-eyed Hot Dan, who never seems like it will settle. Mark's Lonely, you're alone, why not all?
Brett Furniss is the President & Owner of BDF Realty, “Charlotte’s Most Innovative Property Management & Investment Company” (http://www.BDFRealty.com). BDF Realty is a Charlotte-based company that specializes in rent-to-own (lease options) and rent-to-sell. He is the author of the FREE E-Manual entitled “How to Rent-To-Sell Your Own Home” which details how to get the most potential buyers to your home in this difficult real estate market.
Wild Hog Hunt Light Infrared Spotlight Night Vision Boar Hunting
