One of the most important parts of any flip is “the offer”.
I get a lot of questions about my “offer” technique, and my response, “I text them.” is often simpler than people expect.
That’s my process, though. I text them. Almost all of them. Sometimes in rapid fire.
As I scan whichever website I’m currently using, if a car interests me, I simply send an offer via text on the spot.
I then keep scanning, until another ad interest me. Then, you guessed it, I text another offer.
What do I say in those texts? I’m glad you asked!
My Texting Process
I generally start by texting, “Is there any way you could take $XXXX for the (fill in the model of the car) cash today?
It’s important to add the “cash today” part because that will create a sense of urgency with some sellers. I say “some sellers”, because there will be a few that need cash fast! You might just be the answer to their prayers.
My initial text can be answered in a few ways. The simplest of which is, “No”.
On a side note, expect to receive a lot of no’s. Some of which may be proceeded by words that you wouldn’t say around your mother. After all, we’re often offering thousands below their asking price.
Remember, though, we’re not sending offers to make friends. We’re in it to make money!
Reply for No
When I receive a, “No”, my reply is, “Wish I had more to spend. It looks really nice. If you change your mind please let me know.”
Believe it or not, I’ve had multiple people text back a few days later and ask if I was still interested at the price I offered.
A big part of the way I word my texts is to make the reason I can’t pay their asking price about my budget and not the value of their car. The last thing you want to be a tire kicker. Tire kickers don’t get that text back a few days later.
Mentally, people would rather give a good deal to someone whose budget is the constraint, as opposed to someone who was rude and trashed their car.
Another possible answer is “No, but…”
For example, “No, I can’t take $3000, but I could do $3700.”
This is better than a no, but not always enough to make the buy worth it.
If they come back with an offer close to yours, and which would still give you room for a good profit; it may be worth it to go look at the car in person. While there, you get a second opportunity to negotiate. This time you aren’t negotiating the original price, but from the already lowered price that they countered it.
If they counter, but at a number still too high, refer back to our response for “No”.
The obvious answer we’re looking for is, “Yes”.
After receiving a yes, I then do my due diligence to ask about the history of the car and about its condition, both mechanically and cosmetically. We’ll go more in-depth in a future post about the exact questions I ask.
There are two exceptions in which I don’t text.
The first is when I’m using the Facebook marketplace. For that, I use the built-in messaging feature. For sites like Letgo, if they have a phone number listed, I still text as opposed to using their messaging feature.
The second is if it’s an unbelievable deal and time is of the essence. For example, a Jeep Wrangler posted a few weeks ago, and I called as soon as I saw the listing. This particular Jeep was priced so low, I knew I stood to make about $4500 profit on it. I wanted to meet the guy right then as I had cash in hand, and that’s just what I did.
Texting has become my go-to source for making offers. It’s quick, easy and I find it’s much less confrontational for those “low offers”.
How about you? Have you ever used text to make an offer? How did it go?