How do I start my negotiations with the seller? What is the best way to start? Any assistance is helpful.
First of all, read and listen to anything you can get your hands on from this fantastic site (look at the left margin).
If sellers contact you from marketing you’ve done, then tell them you’re responding to their inquiry. Get them to tell you about their situation by asking them open ended questions, like “What would you like me to do for you?” or “Tell me about your situation.” Gatther info about their house and their needs, but make it conversational (even if you are using a list of questions). Don’t make it sound like an interrogation.
Relax and be yourself (unless of course, you’re normally stressed). Pretend like you’re talking to a trusted friend, if this is what you need to relax you. Know what you’re talking about.
I can go on and on, but I won’t
Good luck!
You must dig and find out what the sellers “Problem” is. Your best deals will come from “Seller” problems, not necessarily house problems. Seller problems are divorce, layoff, bankruptcy, relocation, etc…
Find the sellers pain and then show them how you can help solve that. Its not always best offer that wins…
For example, one time I had a seller accept an offer from me that was 30k below what they could get on the market. They took my offer because I let them stay as long as they needed to move (they were having all sorts of issues with their new place). Of course, they had to pay rent while they stayed. But the point is I gave them the flexibility they needed and solved their problem.
I hope this helps