A Millionaire Mogul’s Real Estate Negotiation Strategies

Anthony Lolli is living proof that good real estate negotiation strategies produce major profits. By age 21, he closed enough major real estate deals to start his own firm.

At age 23, Anthony Lolli was already a millionaire.

On a recent Real Estate Rockstars podcast, Anthony shared some of the best negotiation strategies for real estate agents. Read on for a few of his tips on buying and selling property at the best price possible.

To learn details on his negotiation strategies, and to hear about some of his most impressive real estate deals, listen to the podcast below.

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Real Estate Negotiation Strategies for Sellers

All sellers want to get top dollar for their home, but few know how to make it happen. With your knowledge of the industry and some solid negotiation strategies, you can help clients sell their homes for as much as possible.

Here’s some advice from Anthony on negotiating a property sale:

Look at the Prequalification Letter

Some buyers simply can’t go over their original offer, and no amount of negotiation will change that. To get a feel for how much a potential buyer might be able to pay, look at their prequalification letter.

Counter with Comps

When a buyer’s offer is too low, coming back with sale prices from comparable properties is a good strategy. Reasonable buyers will adjust their offer accordingly when they realize the seller knows they’re likely to get a better offer from someone else.

Share Marketing Plans

By showing that they’re marketing for maximum exposure, sellers send the message that they’re motivated to sell but not desperate to take any offer they get. Knowing that other offers will be coming, buyers may feel pressured to make a more competitive offer.

Real Estate Negotiation Strategies for Buyers

Purchasing properties at insanely low prices isn’t always possible, especially in most markets today. However, you can help clients buy at a better price with the right negotiation tactics.

Here’s what Anthony suggests when negotiating a property purchase:

Do Your Due Diligence

Thoroughly researching a property prior to purchase is vital. It helps to ensure that buyers make smart purchasing decisions, and it can also reveal information that can be used as leverage when making an offer.

For instance, when a property has been on the market for months, you know that the seller likely hasn’t been able to get an offer at their asking price and may be willing to budge.

Learn the Seller’s Transition Plan

Taking some time to understand what the seller plans to do following the sale of their property is also important. With this information, buyers are able to make a more accurate assumption regarding how firm the seller’s asking price is. In many cases, like when the seller is planning to upgrade, there’s some substantial wiggle room.

Learn More from Millionaire Mogul Anthony Lolli

Want even more information on Anthony Lolli’s real estate negotiation strategies? He covers them in depth and shares details from his most impressive real estate deals in his book, The Heart of the Deal.

To download an electronic copy of Anthony’s book, sign up for our Agent Success Toolbox. In addition to real estate eBooks, it contains scripts, checklists, and more. The Toolbox is a 100% free resource for agents, so check it out!

For more advice on negotiating real estate deals from a millionaire mogul, including how to handle lowball offers, listen to the complete podcast with Anthony Lolli.