A retrade is simply a concession.

I signed it.

We're ready to go.

Now, the seller was motivated to sell.

So they came up and we said to them,

how are we going to make this happen? Hello and welcome. My name is Gino Barber, one of the co-founders of Jake in Gino.

And in this important lesson, we're going to be discussing what is

a retrade and how you can successfully negotiate a retrade in your favor. Now, the word retrade

when I started back in the early 2000s, it was just commonplace. There was negotiation going on.

You'd find a property you didn't

like or there was something wrong with the property that you didn't foresee during your due diligence

and you would say to the seller, hey, Mr. and Mrs. Seller, there's something wrong. I need to retrade.

A retrade is simply a concession. And over the past few years, retrades practically disappeared.

And it really is market specific. And you may be saying to yourself, well, what happened to

negotiation and real estate back in 2020, 21, 22, and 23? Well, the market was hot. Retrades didn't

work. If you tried to do a retrade, there was someone

behind you that was willing to buy the property with those defects. And we see how well that's

worked out for them now. But in any case, where we are in this current part of the market cycle,

you can successfully negotiate a retrade if it is a valid retrade. It is market

driven and there's certain areas where when you're doing your initial underwriting on the deal,

you're getting financial numbers, you're able to look at the property, you put a property

on the contract

...