Summary of "Psychological Wholesaling Hack to Get Sellers to Say "Yes" EVERYTIME!"
Summary
In the video titled "Psychological Wholesaling Hack to Get Sellers to Say 'Yes' EVERYTIME!", Zack shares effective strategies for negotiating with sellers in Real Estate Wholesaling. The main financial strategies and methodologies presented include:
Key Strategies:
- Creating a Sense of Winning for the Seller:
- Make the seller feel like they are winning in the negotiation, even if you are the one benefiting more.
- Use the technique of "meeting in the middle" to give the seller a sense of accomplishment.
- Lowball Offers:
- Start with a significantly low offer to create room for negotiation.
- For example, if a house is worth $200,000, start with an offer of $120,000, which allows for negotiation to a middle ground that still benefits you.
- Building Rapport:
- Establish a connection with the seller by mirroring their communication style and personality.
- People are more likely to say yes to someone they feel understands and relates to them.
- Good Cop, Bad Cop Technique:
- Use this approach by presenting yourself as the reasonable partner while blaming a "bad cop" for low offers.
- This creates a dynamic where the seller feels more inclined to negotiate favorably with you.
- Conditioning the Seller:
- Before meeting, confirm with the seller that they are ready to make a yes or no decision regarding the sale.
- This helps avoid the "maybe" scenario, which is often unproductive.
Methodology:
- Let the seller feel they have won in the negotiation.
- Make an initial lowball offer to allow negotiation space.
- Build rapport by matching the seller's communication style.
- Implement the good cop, bad cop method to frame the negotiation positively.
- Condition the seller to ensure they are ready to make a decision before the meeting.
Presenters/Sources:
- Zack (Presenter of the video)
Category
Business and Finance
