Oh boy, not a good week. Two of the offers I placed for foreclosures were not accepted. I don't understand why buyers don't listen to our advice. I continue saying to offer listing price cause it's low enough & they always offer less. This particular offer was cash (he thought that would make a big difference). I guess it didn't, $15k under listing, please....Lets see what he offers on the next one because my other buyers have not yet learned their lesson.

Typically, tell my investor clients to go about 10% below the asking price, if there are a lot of offers, the Bank usually says, make your best and final offer, at that time, I tell my Buyer to overbid.

Are you showing your buyers the area's list price to sales price ratio? $15K doesn't mean much to us - tell us percentages. It could be 15% off list, or 2%. Show your buyers the stats and help them see that properties are selling for X% below list, not Z%. Investors aren't going to listen to what they think are just your opinions, but they tend to listen to the hard data you show them. They tend to be analytical people and need to be treated as such.

A side note - learn to identify personality types (I use Myers-Briggs types) and treat people differently according to their personality types. People respond to different treatments and different motivations. You have to change you approach because they aren't going to change their behaviors for you. You will be amazed at how much easier it gets to move people onto your page if you become really adept at this.

TB, you are a sales superstar! I totally do the same thing you just described, for instance, I had a new client I received from the internet and knew nothing about him or his family. Apparently, he and his family were educators and very religious so I knew not to ever say JESUS CHRIST, and to pick his brain about what are the best colleges to send my teen to. End result, they purchased a home for $1.1M.

We try much the same approach. I've noticed we have to tailor our information and delivery to the different types. For example and artist - does not care to know what the survey looks like, but an engineer has to have it, plus the past utility bills, etc - but the engineer doesn't care about how pretty the wall color is, or maybe the view. You won't hear an engineer talk about how they 'feel' in the home, neighborhood, etc. Just examples - I could go on and on...

Anyone use the DISC approch? No one is 100% one thing. Take the test here, http://www.gregwiens.com/disc.htm.

http://en.wikipedia.org/wiki/DISC_assessment
Dominance - Independent, persistent, direct. Leader, CEO

Influence -Social, persuasive, friendly. Realtor

Steadiness- Consistent, like stability. Accommodating, peace-seeking. Support rolls.

Conscientious- Slow and critical thinker, perfectionist.
Logical, fact-based, organized, follows rules. Don't show feelings. Private. Few, but good friends

This is a good personality test too. I know KW uses it to choose its team leaders.

Yeah, I got a similar DISC one with StarPower convention. Used it a couple times, not sure if I'll keep it.

I am afraid to take the test because they could label me as completely insane working in this industry.

Don't be so quick to dismiss that offer! I got a property reassigned to me that was listed at XXX and the offer came in at exactly $15,000 off asking, it had been on MLS less than 10 days as my listing when the offer came in. The offer was accepted. It was the right offer to take, it had previously been on market for over 230 days and only 1 offer. It needs a lot of work but is in liveable condition but deferred maintenance is now at the fix it or lose it stage on some exterior features (not the dwelling itself however). The point is clients like to lowball and they think cash is all that and sometimes it is and sometimes it not; it just depends. The moral is you don't know until the offer is presented.

Your stratagy also works well for me... except I recommend 5% below list to start if the property is on the market for less than 30 days. Then we kick it up to over list for "highest and best" request. Sometimes even $5-10k over list still isn't the best around here.... that hurts!

Thanks for sharing the link.... took the test. I enjoy that kind of stuff. Reminds me a little of an NLP course I took last year.