10 Principles To Make Millions In Real Estate: Strategic Negotiation

10 Principles To Make Millions In Real Estate: Strategic Negotiation

I’m here and today, we’re talking about
strategic negotiation. This is part 3. I’m sorry that I’m late. I was trying to
catch an important date. I’ve got a date with destiny and there’s a house over
there that I wanted to negotiate. And I just missed it because I was too dang
slow. Friend, my name is Kris Krohn and today we are continuing our game. I’m
talking about the 10 principles that are the foundation for making millions of
dollars in real estate and strategic negotiation is going to speed up the
process so you don’t miss out on your next hot deal. These 10 principles are the most
important principles to know how to make the real money in real estate. And one of
those 10 is designed to keep you from making a big mistake. It’s all about how
you negotiate. Now, when you get in the game a real estate and you’re following
the other principles and you’re finding a really hot deal, you know, maybe you
click the link, you access my system. You’re working with me, you’re part of my
community. And all the sudden, you get a really good deal. That doesn’t mean
you’re going to buy it. It means that you finally found buried treasure. And
whether you get it or not really comes down to how well you do this right here.
So, what I’m going to do today is I’m actually going to share with you my
favorite strategy as quickly as I can. I really want to give you a taste to
understand how you actually lock down a really good deal.
Now, understand this. If I were to find a house that I know I’m gonna make $50,000 of profit on, let me ask you. How many other people out there can
do the exact same thing? Many. Which means that there’s some stiff competition. So,
if you’re like, “You know what? I found this amazing deal. I’m going to sleep on it
tonight. Tomorrow I’m going to call my accountant. I’m going to run some numbers by
them. The next day I’m going to… You know, sleep on it again. And then I’m going to
make an offer.” Dude, I’m telling you right now, if the deal is that good, it’s gone.
Someone’s already found it. The secret to negotiating a really good deal. I want
you to write, this is a very technical term. It’s called being wicked fast. Friends, negotiation is all game a speed. And real
estate is not designed to be super friendly. For those of you that are new
to real estate, here’s how it works. This is my very generous picture of you. And
then what you typically do in the game a real estate is you’re going to work with
another person. And this person is holding a briefcase and they’re also
happy because they’ve got Commission breath and they’re called a realtor.
They’re like, “Yeah, I’m going to make a big Commission for negotiating this deal.” I
can show you how to avoid those commissions. But then this person, you’ve
got the other person there’s this house over here that you want to buy with a
$50,000 profit. And the person living in that house, they’re all so let’s just say
happy. And they’re not going to talk to you.
They don’t even want to talk to your realtor. Guess what they have? They have a
lady friend who’s also a realtor. And what these 2 is these 2 have
conversations with each other. This is how it goes down. You’re saying, I saw
this house. I like this house. Go put an offering. And then this person’s like,
“Awesome. Let me write it up and I’ll give it to you tomorrow.” The next day rolls
around. They give you the offer. You don’t get it in to lunch. You sign it. You’ve
just wasted a whole freaking day. Finally, you get it back to your realtor who
gives it to the other realtor who then takes it and presents it to their person.
And they’re given like 24 to 48 hours to make a decision. And they’re talking
about how they want to negotiate it and then they come back and say, “Here’s our
counteroffer.” And then your guy takes it and gives it to you and says, “Okay.”
There’s a stupid chain and I’ve seen deals get wasted time and time and time
again because it takes freaking bloody 3, 5, 8, 10 days to get a deal
under contract. Someone else already came in all cash and said, “I’ll buy it.” I seen
people get messed out of deals all day long because they’re playing the stupid
game. now legally this is the way Realtors are designed to work. What I’m
going to do is I’m going to share with you a shortcut. What’s happening is there
is these papers going back and forth call the contract. And they want your
signature here and then here’s your counter signature and then they add a
page for you. You know, your counter and then this is when you’ll accept it. And
the paperwork just takes a whole lot of time. So, what we’re going to do is
instead of actually negotiating everything on paper, we’re going to do it a
different way. There’s this brand new technology that’s barely been out. This
is really incredible. I don’t know if you’ve heard of it. It’s called the
telephone. It’s amazing. Okay, I’m joking. You’re probably watching this on your
phone. Here’s what you can do. You can do this thing called verbal offers. And
you’re going to want to write this down. This is like literally, this can make the
difference between nothing and making 50 grand on a deal. Here’s the way of verbal
offer goes. I’m talking to my realtor I’m saying, “Dude, I want that house.” They are
offering that house for 125 thousand dollars. And I want
to ask to buy it for a 115. We’re skipping the paperwork
dude. Call him up and just say and float the idea by the realtor and say this. I
mean this is important like write this down. You want to
instruct your Realtor how to do this. “Hey, I’ve got my buyer. He’s pre-qualified, up
to the amount, he’s ready to go, he’s seen the house. He wants it. But his absolute
highest and best offer is $115,000. Will you please
talk… First of all, is that even within the realm of possibility?” And then they
might say, “I don’t know. Let me talk to the person. And usually within an hour,
just by having a phone call, she might come back to say, “Hey, I talked to the
seller and dude, that’s just…” They’re not going to look at anything that’s under 120,000. In a matter of an hour, we found out something
valuable. We know what the home is listed for. We already know it’s a great price.
We’re pushing it by asking 10 grand less. And they already came back and
verbally told us that they’re not going to do it for less than 120. You now have a choice. Are they bluffing and you want to offer 118? Are
you going to miss out on 50 grand over a couple thousand dollars? You might want
to. You have to have your thresholds. But you might actually come back and say, “You
know what? Actually 120 works. I thought we’d meet there in the middle.” They want
125, it’s a good deal at 125. I was going tO offer 115. Where we’re going to end at
120. So now, you put in an offer for how much? 120 thousand. Part 2. The realtor has
to say. We’re giving you our highest and best offer. We will not do any
negotiating. This is the best it’s going to be. If you want to come back and and ask
for a little bit more, just tell me now and we’ll walk. You hand over one piece
of paper, you get a signature, they send it back. This is how 95%
of my deals go. I win because I’m wicked fast. Which is quite righteous. So, here’s
my advice for you. When you’re playing the negotiation game, the most important
thing is to play verbally and paperless. Because verbal, through telephone can
travel a heck of a lot faster than doing the whole writing up of contracts back
and forth. Now, little bonus tip. You might be working with a realtor that’s like, “No,
I can’t do it that way or I have problems with that or I don’t want to do
it this way or sign the paperwork.” I’m telling you right now.
Fire your realtor. You got the wrong 1. Friends, thank you so much for watching
today. There’s so much more to teach you on this and I’m just giving you enough
because I love you and I really want to do everything I can to help you get
started. You know, it’s a lot every day coming out with a brand new video and I
want to give you as much as I can. And I got my next several hundred topics
all planned out. So, I just want to give you enough on this because I know for
when are you watching it, this is exactly what you need. For most of us out there,
if you’re ready for a deep dive, if you’re ready to actually have me become
your mentor officially, click the link below and you’re going to get all the
information about the the 10 principles learning everything about them in this
foundational course. Where you can get your hands on all the basic foundation
so that when you’re watching my videos and you’re having questions like, Oop!
Kris is no longer using language I’m unfamiliar with.” It all clicks it makes
sense and you can start taking action in the game of real estate and start making
money. Tomorrow I’m going to be releasing my final video. I’m going to be hitting
one more time. Another one of the top 10 principles to help give you everything I
can to succeed in the game of real estate. See you then.

22 thoughts on “10 Principles To Make Millions In Real Estate: Strategic Negotiation

  1. First one

  2. Thanks for posting these videos!

  3. Iā€™m ready to make a deal in 2019

  4. Ok ok

  5. You should film a video how to partner up with your team

  6. All facts! I do this on the regular lol I'm an investor 1st, agent 2nd

  7. Any tips on the ins and outs of a real estate transaction??

  8. Your 10 Principles only have 1,2, 7 & 9 up on youtube. Can you tell me where to find the others? Thanks!!

  9. Great vid again kris

  10. Mmm sounds like I got a realtor problem šŸ¤”šŸ¤”

  11. what about hiring the seller's realtor???
    whats better????

  12. Commission breath! Lol!!!

  13. Commission breath?!šŸ˜‚šŸ¤£šŸ˜†šŸ˜†

  14. How do you put your property in the rental market

  15. Do you put your property on a for rent website or do you place advertising on them

  16. 1.6 million $ is not so much

  17. Just to see if you ever read these comments……I have $200,000 available, I am interested in trying to invest in ten properties figuring 20 percent down on an average price of 100,000 each……I am 61 years old, I wish to retire at the normal age, however I really don't have the income to do that, yet……if I get an answer I can get to Utah, when I am home from Iraq……have a great day….thanks

  18. Nice sir

  19. thanks for the video Kris!!! still trying to scrap my 500 dollars šŸ™

  20. I liked your version in your audio book much better.

  21. Great explanation Kris!
    Every agent goes through negotiation processes and these are great tips to ease that process.

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