Real Estate Investment Strategies: Sellers Vs. Investors
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Your approach and strategies for closing any real estate deals successfully will depend on they type of clientele you are working with. There are two types of clients you need to be able to differentiate: the sellers versus the investors, each requiring a different level of handling. To help you quickly identify and categorize your sellers and your investors, I have some tips for you.
Check the following:
Time Factor – is the owner someone currently residing in the property and is repaying the loan over time? If yes, this person is a seller. On the contrary, was the property recently purchased? Is the intention to flip and quickly sell it? If yes, this could be your investor. You can find out relatively quickly by checking the documentation on the property.
Emotional Factor – sellers are more likely to be emotionally attached than investors. Thus, the seller would be open to hearing the various offers. Your investor, however, is more likely to be interested in the price offers and is interested in getting rid of the property as soon as possible.
Price Factor – investors are looking at profit margins and thus, may not be as willing to budge on price. However, sellers are often more flexible. Sellers would be more flexible because they only have actual rates estimated, not margins of profitability like that of an investor. Moreover, sellers suffering from financial hardships are more flexible and are more motivated to sell their property. Investors, on the other hand, probably purchased the home on a short sale and are looking to make a huge profit so they are less likely to want to negotiate.
Paperwork – check facts on the property’s deed carefully if you are buying from a seller, especially if it’s an older property. For properties sold by investors, the properties are likely to have been purchased recently so the paperwork would have been already looked at in great detail. However, just to be safe, have your attorney look over it.
Physical Condition – investors are looking to use you for future property sales so they are more likely to point out to you the pros, as well as the cons, on the physical condition of their property. Sellers, on the other hand, may just want to quickly sell you the property and get out. In cases like this, you may want to bring a contractor with you to inspect the property to give you a more accurate assessment before you make your decision to purchase the property.
Body Language – body language can tell you tons about a person. Sellers would be comfortable and open to your ideas on how to sell the property, whereas, investors already have their own ideas. They will tell you when and how to sell their property. Attitude says a lot about a person and can help you in your relationship and in the handling of the person during the process of making the sale.
Thus, correctly identifying the sellers from the investors will help you to better strategize proposals that will get you the most out of each deal.
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