Do real estate investors low ball or take advantage of sellers who need to exit their properties?

Do real estate investors low ball or take advantage of sellers who need to exit their properties?
Video Transcription

Frank: Hey, what’s up everyone. Frank from Frank G Buys Houses Here, in front of one of our latest acquisitions. A busy time here in the spring, actually coming up on summer in central Florida. And so this is a question I get many times when somebody first reaches out to me. They’ll ask the question, because they think investors are going to low ball or take advantage. So they’ll ask a question like, “Hey, you’re an investor?” I’m like, “Yeah, I’m an investor and a licensed agent.” “And are you going to low ball me? Are you going to try to take advantage of me? Are you going to try to rip me off?” And so those types of questions come and I’m assuming it’s because it happens a lot out there.

Now, the people that I know in any business, and there’s always people in every industry that take advantage of customers and don’t do the right thing. But the ones that I know of in the business in real estate investing that are in it for a longterm for a long time, I mean, you can’t stay in this business for a long time if you’re not going to treat people right. So in our case, there’s multiple options. For example, this house that I’m standing in front of, the gentlemen reached out to us. We came. We were here, I don’t know, 20, 30 minutes. And we worked out a price between us that both sides felt really good about. And that’s the only way that we’re going to do it is if both sides feel good about it and it works for everybody.

And we tried to convince this seller to let us list it for them, that he would get more money than what we could pay. And we told him, “Man, let us list it. That’ll be the best option for you.” And he’s like, “No, I didn’t want to do that. I want to sell it. I want to move on. I just want to get it done. I don’t want to waste any more time.”

And so we help sellers in a lot of different ways. Sometimes we buy them for cash. Sometimes we list them. Sometimes there’s other ways that we work with sellers as well. So the answer is no, we do not low ball take advantage, rip off people, but it has to make sense financially for both sides. And so we’re happy to explore, happy to talk through any way to do that. But here’s an example. And this gentleman actually wrote a little testimonial for the website because he liked how it worked. It was efficient, quick and got it done and moved on. And so that’s how we roll. We’re straight shooters. Tell it like it is, you tell it like it is, see if anything makes sense.

And all the houses that we’ve seen in the last year, I think we’ve worked with either 35 or 40% of the houses in some way, either we listed them, we bought them for cash, whatever arrangement that we made. So we’re not the answer for everyone and we’re not the answer in every situation. But one example today is there’s a person that has got a house that’s really in rough shape that I personally am not able to buy from him, but I’m helping the customer figure out how he can get out of the situation he’s in. So we’re committed to helping, even if we’re not the right solution from a cash purchase perspective. There’s lots of ways for us to help sellers. We’re in the business for the longterm and we’re going to help you find a solution. That’s what we’re going to do. So, feel free to reach out. The answer is we all don’t take advantage and we all don’t low ball and we all don’t try to rip off the consumer. Most of us want to do the right thing. Have a great day.

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