Show me the money!
Money makes the world go-round. It gives you freedom, time, power and much more.
To gain something you need- it usually costs you money (we’re not talking intimate relationships here folks…although some may say that is still a valid statement).
So if you need something, you are going to have to purchase it. And the purchase price on an item is set up before you move forward with forking over your hard earned cash.
But who sets the prices on products/services anyways?
Someone made up the price.
They built in a profit for the business, but the thing is that you or I don’t know how much profit is in there (most of the time)…
We all know business needs to make money to continue to stay in business, but if you blindly accept every first offer you receive then you are leaving tons of money on the table.
This is especially true in the Real Estate Industry. And most people just say “ok” and pay whatever price people give them… which is a huge mistake.
Some standard items in a Real Estate transaction that most people blindly pay when everything is negotiable are:
- Termite repairs
- Contractor repairs
- Escrow fee’s
- Title fee’s
- Notary fee’s
- Realtor fee’s
- Loan fee’s
- Inspection fee’s
- Much much more…
Literally everything is negotiable And all you need to do to get them reduced is…
Drum roll please….
It blows my mind how many people just accept a price… and don’t even simply ask “Is that the best you can do?” …
Or even take it a step further and say..
“Well I was more looking to spend x amount, how close can you get to that number?”.
You may have to get a little firm and say I’m not paying that.. but that will come with experience and knowing when you are being over-charged for things.
In-fact did you know that even everyday items you purchase are negotiable– and in places you purchase from on a regular basis?
- Clothes in a department store
- Food on the drive through menu (ya not kidding)
- Groceries at the grocery store
- Coffee at starbucks
- Your phone bill
- Your cable bill
- Your utility bill
- Much much more…
All of these places you can get your items for cheaper than you are told the first time.
Play this game:
For the next 30 days ask every cashier for every purchase if they can give you a 10% discount.
The point of the challenge is to learn to feel comfortable asking.
The worst that can happen is they will say is no, but you will be surprised when you actually get a “yes”.
Think about it- every place that has employee’s offers employee discounts. Do you think the employer is going to take a loss on it’s products/services by losing money to the employee… no they arn’t.
There is always room for a discount.
You can take this game a step further and at places like a clothing store…ask to speak to a manager and tell them you only have x number of dollars (magically 10-20% off) but you want to make the purchase and will do so right now if they can give you a bit of a discount.
Play the game.
Just see what they say. They won’t give it to you if they are going to lose money… but all businesses have enough of a profit cushion built in that you can get things for a bit cheaper.
Think about it…
You are leaving hundreds of dollars on the table each month in small purchases, and thousands of dollars in large purchases… this can correlate to tens of thousands of dollars each year (you’ll be surprised to see how much small purchases add up to each month if you track your spending habits each week like we recommend).
Over 5 years you are talking a years salary for most people.
Can you imagine if asking a simple question and maybe pushing just a little bit saved you $5,000, $10,000 , or even $20,000+ each year?
When you are dealing with many Real Estate transactions this is very possible.
So do the challenge, and start asking if “that’s the best you can do” and “if they can waive that fee”, or “what can you do to help me out on price, I have a limited budget” and see what people say!
The whole point of the challenge is to get comfortable asking because on larger purchases like Real Estate, there is usually ALOT more room for a discount and you are talking thousands or even tens of thousands of dollars back in your pocket…
And that my friend, is always a good thing.
**So remember EVERYTHING IS NEGOTIABLE**
Chris M Cordova
CFO Better Tomorrow Group
Chris is an active investor, Realtor, Broker, marketer, serial entrepreneur, and co-founder of Better Tomorrow Group. Follow Better Tomorrow Group on Instagram@bettertomorrowgroup on Twitter/Periscope @TheBTgroup and Facebook at Better Tomorrow Group. If you would like a FREE copy of Flipping Your Thoughts On Flipping Follow this LINK.