Welcome to the Get Traction Podcast, a show aimed at educating aspiring real estate entrepreneurs. In this episode, host Tom Zeeb discusses the importance of pinpointing problems and packaging solutions as it relates to negotiating a deal. Tom starts by defining pinpointing and identifying the common mistakes that are made in this process. He speaks to the value of listening with empathy and asking the right probing questions.
Tom shares his own professional experience where building a rapport with a motivated seller led to a successful deal. Tom highlights the differences between a cash offer and a terms offer and discusses the reason he always makes two offers. Finally, Tom stresses the importance of trusting your negotiation training when it comes to pinpointing and packaging.
What We Covered:
- 00:39 – Introducing today’s topic, making the deal through pinpointing and packaging
- 00:56 – Pinpointing defined
- 01:52 – The biggest mistakes made when pinpointing
- 03:52 – Tom talks about using & conveying empathy
- 06:47 – The importance of listening and asking the right probing questions
- 08:20 – Building rapport with a motivated seller
- 13:54 – The difference between a cash offer and a terms offer
- 15:53 – The reason Tom always makes two offers
- 18:24 – Tom details an example of using negotiation tactics to close a deal
- 22:36 – How building a rapport helped Tom negotiate and close this deal
- 25:58 – The importance of staying true to your negotiation training
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