Hi [name] and welcome to Ian Keightley's Weekly Insight for Monday February 9th 2009
The apparent value need not be the transaction point
All around us we see houses being discounted, news of drops in value, car yards discounting, retailers offering products so much cheaper than a few months ago. I have even witnessed property auctions where the "old value" is sought by inflated "vendor bids" despite the bidders stopping earlier. This simply delays the sale.
What do I mean by this?
It is fruitless seeking "old" values when prices are dropping.
Many salespeople and "sellers" are hoping the prices of the past are still obtainable. Why? Because it keeps the seller happy and makes the salespersons job easier. If only it was that easy. There is jusy very little business in that world. In real estate, whilst sales stay in the 4000-5000 range a month prices will continue to ease. Nothing will change until there is over 6000 house sales minimum a month for 3 or more months.
The current "Market Value" is most likely today determined by the motivations of the seller and buyer, and the negotiation skills of the salesperson.
Retaliers are showing their motivation - prices are down!!!!! Go and buy a LCD TV or suit today. Compared to a few months ago these are now bargains. Why. Because CASH IS KING!!!!
Go and make an offer on a car yard today. Watch the deal come together. Because CASH IS KING!
Go to a Property Auction and BID with CASH. The conditional interest that is used to protect the sellers from facing reality in this market is creating a false value. If sold subject to a house sale it is likely both properties are over valued. CASH IS KING!!!!!
The Motivation of the seller to convert the product, service, or house, into cash determines the point at which the sale is made. It need not be crashing values at all, it is just the transaction point for this sale. Values drop when many sellers are in the same predicament and they compete with each other for a sale. The sale is therefore more important than the PRICE. Once again CASH IS KING!!!!
Whatever you are selling - look for CASH!!!!
What ever you are buying - OFFER CASH!!!!
Got a product, service or propoerty you can't sell. Check out the best competition and compete with them with the best presentation, the best marketing, the best negotiator and be aggressive in your pricing.
The CASH market requires courage, tenacity, honesty, skill, perserverance, action, urgency to see the opportunity and then patience to get the deal together.
Quote for the Week
"In business never refuse the best cash offer"
Have an awesome week
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Posted: Sunday 22 April 2018