334 - NEVER LEAD WITH PRICE and the Power of FOMO

Aug 15, 2024

Ever wonder how to win a deal even when you're not the highest bidder? In this episode, I sit down with Zack, one of my students from Arizona, who’s facing a tough situation—a seller is ready to sign, but there's a competing offer on the table that's $20,000 higher. We dive into the strategies that can tip the scales in your favor, even when you're up against bigger offers. From understanding the seller's true motivations to leveraging the power of FOMO (fear of missing out), we explore how to close deals by focusing on more than just the price.

Key Takeaways:

• Never lead with price in negotiations; focus on solving the seller’s problems instead.
• Building trust and rapport can often outweigh a higher offer.
• The power of FOMO (Fear of Missing Out) can make a seller more likely to accept a lower offer.
• Always understand the seller's situation and needs beyond the monetary aspect.
• Offering additional value—like convenience or faster closing—can be more compelling than just raising your offer.

Resources:

• Deal Machine (Discount code PIN)
• $40k in 40 Days Challenge
• Driving For Dollars Mastery
• FREE TRAININGS – Get Started in Creative Real Estate
• FREE Cold Calling Script