Page 211 - Trump University Commercial Real Estate 101

I W ish Someone Had Told Me These Things

When you are starting out, you should be making at least two
offers a week. This is what I require my coaching students to do. But
what if there are no decent properties to make an offer on? Then you
make an offer based on the current numbers. Explain to the seller or
broker why you ’ re making such a low - ball offer, and ask if you should
still submit it. I mentioned this technique earlier, and how you will
occasionally be told, “ Okay, send it to me. ”
Even if that does not happen, you ’ ve accomplished something —
you took action and proposed a transaction. Offer by offer, you will
get better at analyzing deals, presenting your terms, negotiating, and
reading the other person. You ’ re turning into a professional.
Two offers a week. People often ask me: “ What ’ s a good offer -
to - acceptance ratio? ” That ’ s going to differ throughout your career.
At the beginning, you ’ ll do very few of the deals you make offers
on. You have yet to establish your relationships, and many of the

deals you ’ ll first be exposed to are not very good. Then your relation-
ships start kicking in — if you follow my advice in this book. You begin
to build rapport and establish your reputation as a closer, and the
choice deals begin to come your way.
Your ratio will drop from 1 in 20 to 1 in 3. You will only chase after
good deals where the seller is willing to give you actual fi nancials so
you can make an educated offer.
Strange as it may seem, the way to get to that great 1 - in - 3 ratio is
not to be highly selective with your offers at first, but to just get out

there and do them again and again.

Give Before You Get

I own a real estate brokerage company. When I started it, I did what
you are doing right now — I acquired as much knowledge as I could, so
I wouldn ’ t have to learn it all through trial - and - error - and - more - error.
I came across Floyd Wickman, who specialized in real estate
brokerage. Floyd had the best scripts in the business. I listened and

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