Law 3 Timing MattersBe the First or Last Person to Make an Offer

An essential component of finding a seller who will meet your Terms is timing. If at all possible, you want to try to represent the seller's first or last chance to sell. You're looking for the advantage of an uncompetitive environment. When other investors are vying for the same property, the very nature of competitive offers can make it difficult to achieve your Terms.

The lead generation programs of many Millionaire Real Estate Investors are designed to put them in the best possible position to be a seller's first chance to sell. They market and prospect for sellers who do not yet know they are sellers. They are competition-averse and love to ask the question "Have you ever considered selling that property?" They also have a hair trigger when it comes to properties that meet their Criteria.

They don't hesitate to take action and make the right offer. While time will tell if the seller will accept their Terms, they would rather have the offer fall through than risk competitive offers that almost certainly will drive up the price. There is no risk in this decisive action. The property meets their Criteria, and they only make offers that meet their Terms. The very nature of real estate offers is that what the investors are buying is an option to buy the property. If during the property inspection the realities of the property no longer meet their expectations, they can walk away.

If you've participated in an auction, you've seen how the law of being last plays out. Serious investors rarely bid before the auctioneer counts down with "going once, going twice . . ." They understand that most of their competition has been weeded out, and if their price terms can still be met, they make their offer. Also, they rarely stay in the bidding process for long. Great investors pick their moments, and when they can, they choose to be first or last.

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