Sam's Blog

Dr. Chester L. Karrass, world-renowned authority on the negotiation, talks about the power of legitimacy that removes you from being the "bad guy".  This powerful technique can save you a lot of time and money in real estate too!

Here's how!

You get a call and the prospective buyer on the other end who wants to look at a property that is 25 miles away.  You have a great conversation and things are progressing nicely in getting to know them etc.  But, you are smart enough to know that they may not be pre-approvable and you are not interested in spending 1.5 hours showing them the property unless you know for sure.  But, you do not want to ask them if they will let you get them pre-approved first, so...

Using this technique is the answer!  Just ask:

Will you be paying cash or have you already been pre-approved for a mortgage?  If no to cash then:

"Okay, well my procedure requires that prospective buyers have to be pre-approved first before seeing any houses unless they are paying cash!" 

Then you can give me a call and I'll do that for you in 20 minutes so very little time is wasted and then everyone is better informed.  Just make this your personal guideline that you set for every house you show.  By doing this, you are not the bad guy, it's "that policy" that is the bad guy!!  Just don't tell them that it's your personal policy that you set for yourself because you have been burned many times!

The power of legitimacy is no different than the clerks at a retail store charging you $25 for a toy.  It's not them; it the established price for that item that takes them out of the negotiation for the sale.

USE THIS TECHNIQUE TO GET THEM PRE-APPROVED SO YOU WILL NOT WASTE YOUR TIME AND GAS WITHOUT CHALLENGING THEIR FINANCIBILITY!

And remember that it's in your best interest AND theirs to get pre-approved first because if they see the house and find out later that they can get approved but the payments are twice what they are comfortable with, then they'll probably lose interest in continuing to look in their real price range!!  Yikes!! 

GET THEM PRE-APPROVED FIRST.   I'LL HELP YOU DO THIS FAST!

Sam Thompson, PHH Mortgage, Senior Mortgage Advisor

843-230-7929

Great Links:

Pinehurst Real Estate  - www.pinehurstrealestatenc.com

Pinehurst Luxury Homes  - www.pinehurstluxuryhomesnc.com

North Carolina Horse Farms  - www.southernpineshorsefarmsnc.com

Fort Bragg Real Estate  - www.fortbragghomesnc.com