In this week’s episode of Cut To The Chase, my co-host Diego Traglia and I talk about how to bridge the gap between seller and buyer.
Keeping your seller and buyer on good terms is imperative to the smooth running of a sale. With this in mind, you must always stay genuine in your approach. Once a buyer or seller hear you telling a lie or stretching the truth too far, the trust is gone and it will become harder or near impossible for you to bridge the gap between them.
You can keep a buyer and seller happy in many other ways, but it can be particularly tricky when you are down to the last 1% of negotiating. A tip from Diego is to humanise the buyer to the seller, be honest with them about how hard the buyer is trying to get the funds to the level the seller wants them. If your buyer is borrowing money from family, don’t be afraid if you feel the relationship is right to tell the seller and let them know the lengths the buyers will go to for this home. This shows commitment to the sale, will appeal to the nostalgic side of the seller if the home was sentimental, and removes the suspicion that the buyer is simply trying to undercut the seller.
Here are a couple of classic lines that Diego and I use to bridge the gap between seller and buyer which may be helpful to you:
‘So what you’re telling me is for $10,000 you’re willing to put your life on hold. Well, frankly i think you’re worth more than $10,000. My suggestion is give me the 10, and that cloud of uncertainty disappears in a few weeks time.’Aaron Davis
In response to comments on record price and buyers unwilling to pay ‘more’ than anyone else for the home:
‘Todays price is going tomorrows market price. Although it may be a record price now, tomorrow it’s going to be the benchmark.’Diego Traglia
Aaron Auction Advice #1342
Prime your buyers by focussing on the positives rather than the dollar difference and get them saying ‘yes’. Talk about their conditions that have been accepted, ask them questions you already know they will say yes to eg ‘you’re here because you want to buy this house’. This will make your buyer see that the value of the home is more than that discretionary dollar.
Cut to the Chase Podcast
Diego and I release a new Cut To The Chase podcast every week. We discuss tips we have learnt over the years in the industry and addressing common questions and issues in the real estate business. Make sure to check back every week for valuable advice, and a bit of cheeky banter!
Find my upcoming auctions to watch online here.