Posted by Tony-VA on February 08, 2001 at 12:56:31:
Maybe it is your wording but something jumps right out at me here.
I NEVER make an offer to homes for sale by owners. Remember Lonnies negotiation techniques. Always let them name the numbers first. Feel them out for what they will take if you pay all cash and then walk a way.
If you make an offer, they are going to shop you. Some broker comes along and tells them their home is worth $8,000 more than you offer. Of course this includes $4k in their commission they expect. The seller sees these pie in the sky numbers and you are forgotten.
If on the other hand you hand merely mentioned that you might be interested if they could do better on the price, and gave them your card, they may well call you 4 months after their home has sat with a Broker’s sign in the window and no offers.
It comes down to finding motivated sellers. Some seller merely need time to ripen to full motivation. By naming numbers, you have given away your negotiation position. By making 12 offers on 9 homes, you have, I assume, offered more money and thus decreased your position even further.
Stick to the book and Lonnie’s techniques will prevail. I also highly recommend Roger Dawon’s “Secrets of power negotiating”. Roger does an outstanding job of explaining the various techniques and counters used when negotiating.
Remember to be a good listener and let them do the talking.