The Best Way to Lower Your Seller’s Price | Real Estate (LA 1524)

The Best Way to Lower Your Seller's Price | Real Estate (LA 1524) Transcript: Steven Butala: Steve and Jill here. Jill DeWit: Hello. Steven Butala: Welcome to the Land Academy Show, Entertaining Land Investment Talk. I'm Steven Jack Butala. Jill DeWit: And I am Jill DeWit. Wait for it. Broadcasting from sunny Southern California. I had to say that. Can you see? Can you see? Steven Butala: Today, Jill and I talk about the best way to lower your sellers price. Jill DeWit: What? Steven Butala: I can't wait to. Jill DeWit: Why would we ever do this? Steven Butala: Hear how Jill does this also. Jill DeWit: What? I need to do it. How do I do it? We can help. We got this. I'll tell you why this happens too. Although, you probably know. Steven Butala: Before we get into it... Well, sometimes you send a letter out. The thing comes back and they say, "I got your letter and I do want to sell but this price doesn't work for me." Jill DeWit: No, no, no. I'm lowering their price of any one I offered them. Steven Butala: Whoa. Jill DeWit: Yeah. Hold on. Let me- Steven Butala: Yes. Set us up. Jill DeWit: Let me tell you what the show is really about today, babe. Jill DeWit: That's great. Steven Butala: You know what? Jill DeWit: That's awesome. Steven Butala: Before we get into it, let's take a question posted by one of our members on the landinvestors.com online community. It's free. And if you are already a member, join us on Discord. Jill DeWit: I thought you were saying, "If you work for your spouse, you understand what just happened." I work with, not for. Jill DeWit: All right. Bobby wrote, "Hello, to this fabulous community. And thank you again for taking the time to read this. One area I'm getting hung up on is checking counties against the listed to universal rule. This usually kicks out otherwise great counties as they pass all other tests. Except that one. I thought I understood it but can someone please explain, in your words, and the overall importance of this test so I can be sure that I'm applying the correct logic. Thanks so much." Jill DeWit: Go. Steven Butala: Here at Land Academy, we have what is called a red, green, yellow test when you choose a county to send mail or zip code. And before I send mail out, it has to pass these three tests. And one of them is the listed to universal rule, which means how many properties are listed for sale on the MLS against the universe of like-kind properties in that county or zip code. So, there might be 50 pieces of property that are listed for sale and 5,000 pieces of property that are in the universe of just vacant parcels in that county. And you want that number to be low. Jill DeWit: I like that number. Steven Butala: Yeah. Jill DeWit: 50 to 5,000, I can do. 1,000 to 5,000, not so great. Steven Butala: Or 5,000 to 5,000. Jill DeWit: Really bad. Steven Butala: San Bernardino County California is like that. So, you don't want to generally send mail. In general, you don't want to send mail to where there are just tons and tons of for-sale property. And this statistic is designed to point in the direction of, don't do that. Jill DeWit: This is such a common thing. I love it. When you do this Bobby and you do it, just get into it. Figure it out and when you're staring and please pull at least zip codes or counties or something lined up. Two or three of them are going to jump to the top. You're going to go, "Oh, I see it now." So, as you're starting the process, we all kind of question it like you are but hang in there. Jill DeWit: Thank you. Steven Butala: Today's topic: The best way to lower your sellers price. This is why you're listening. Jill DeWit: As I alluded to in the beginning, here's the setup. Steven Butala: I want to sit back and listen. Jill DeWit: Okay. This is fine. So, you picked a county. You did what Bobby said. You sent out your offers. You think you did a great job pricing your offers.