Negotiation Example Flashcards
______ do you want to sell me your home today?
Yes
______ great, because I want to buy your home today. What would you offer me as a price to buy it?
$130k
$130k. Could you see yourself going lower?
wait for a response
I can go to $120k.
You could go to $120k. Can you do any better than that?
wait for a response
That’s it. $120k
$120k hmmm, that’s it? You can’t see yourself going any lower? Help us out?
(wait for a response)
Well, maybe $115, but that’s my bottom line.
$115k, that’s the bottom. _______ you have an expensive bottom line. So what your saying is that buy another home with the funds I brought to buy your home today? ______ Can you see yourself doing better than $115k?
Well, ummmm….
______ help yourself out, I really want to buy it today….
Now list out his/her reasons that they want to sell it.
Ask or yes responses and nod your head
Isn’t it true that…
…we discussed that you need to sell it because….
…we discussed that you need to sell by ____ date because….
…you mentioned you do not want it vacant because…
…you mentioned you need the cash because…
…you mentioned you do not want the stress because…
What other reasons?
______ I agree, so knowing that you are wanting to sell your house today, what is your lowest number under $115k that you would go?
Ok, I guess I could go to $113k
Not saying I can, but if I am hearing you correctly If I give you $110k today you would sell me your house today?
Yes,
Ok, great. So would that be for all cash, or would you consider a seller financed transaction, where you could make additional interest?
I’m not sure.
What would you do with the money that I am using to buy your house?
Buy another house.
Would you use all of the money to buy that house or take out a mortgage?
Probably take out a mortgage.
So you would take out a mortgage? When would you do that?
In about 6 months, when my credit is stronger?
6 months after improving your credit? So, in the meantime I am sure you would want a high interest rate on your money, perhaps higher than the bank would offer. (nod head)
Yes, of course.
So, I tell you what, how about if I pay you the $118k with interest? Here’s how it will work. I’ll pay you $5k today and put immediate cash in your pocket, and in 6 months I’lll pay the balance the agreed upon cash price of $113k. You will have made 8.8% on your money and come out ahead an extra $5k. Does that work? (nod head)
Yes.
