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How Can You Negotiate the Best Price When Buying a Home?
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Apr 8, 2025
Buying a home is one of the biggest financial decisions you’ll ever make, and negotiating the right price is key. A strong negotiation strategy can save you thousands or help you secure your dream home. In this episode, we share expert tips to help you confidently navigate the home-buying process and get the best deal possible. Listen now, and for more insights, click here: How to Negotiate the Best Price When Buying a Home (https://real-estate-crunch.com/how-to-negotiate-the-best-price-when-buying-a-home/) #RealEstateCrunch #HomeBuyingTips #RealEstateInvesting #NegotiationSkills #HomeBuyersGuide #BuyingAHome #SmartHomeBuying #PropertyInvestment Support the show (https://www.buzzsprout.com/2029617/support)
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[Music]
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hi this is Anita from Real Estate crunch
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when anyone is buying anything as big as
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a piece of property whether it's a home
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or it's a piece of land you want to make
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sure that you got the best price
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possible so this is kind of a question a
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lot of people ask how do you know that
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you got the best price well real
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estate's like a lot of other things you
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don't really know if you buy when the
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Market's High then the market goes low
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maybe that was not the best time to buy
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the trick is to be able to buy just at
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the right time when you're getting the
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best price
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possible first that's why the first
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thing you need to do when you're looking
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to buy real estate is you need to
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understand the market you need to really
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take your time and understand what is
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the market value of the piece of
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property you are looking to purchase
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with a lot of things when it comes to
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buying a a lot of people make mistakes
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when suddenly they become in a rush or
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they begin to think like oh this is just
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the best deal ever if we don't buy now
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we're not going to ever be able to get
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anything that's good and then maybe they
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don't do their due diligence so they end
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up with something which is a problem
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when you are purchasing real estate you
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need to do your market research and do
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your due
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diligence you need to look at similar
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homes that have sold recently to get a
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sense of what is fair pricing I always
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say to my my team here when we're
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looking at something in real estate is
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you know you need to visit at least 20
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places I don't know why the number 20
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but you need to really visit that many
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and compare and you know people will say
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oh it's a hot Market you need to make a
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decision right away well maybe you do
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but you don't want to rush into
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something that's going to have a problem
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if you lose that deal there's probably
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another deal around the corner just keep
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looking for it and you'll find it
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determine whether it's a buyer or
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seller's market Market this is really
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key here in a buyer's market there's
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more room for negotiation since more
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homes are available to the buyers if
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it's a sellers Market this might be a
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little tougher but still I would still
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check out many different places before
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you make the decision on the one just to
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make sure that you're getting the best
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decision some sellers may be eager to
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sell quickly due to financial constraint
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if that's the reason maybe they've you
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know relocated their jobs or personal
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reasons then that can maybe work a bit
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in your favor another thing is you're
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getting pre-approved for mortgage
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pre-approve for mortgage gives you a
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strong bargaining position you know
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sellers take buyers with pre-approval
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much more seriously because they know
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financing is not an issue you need to
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understand that when a seller is looking
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to sell a property they want to make
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sure that they can sell that property
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they don't want to tell you okay we're
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going to sell this property you and you
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you know and then suddenly you can't get
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the pre-approval and then they're stuck
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and have to go back again to square one
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they want to know that you have the
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financing so if you get pre-approved
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financing for the price you're looking
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for this can also help you make a
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competitive initial offer you know make
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sure that it's competitive but you know
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it doesn't have to be exactly what
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they're asking for but give a
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competitive offer offer below asking
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price but not too low and this really is
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a key here this this is where you need a
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really good real estate agent that can
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help you with this that you you don't
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want to offend this the seller and offer
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way too low but you know at the same
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time you want to you want to be able to
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get a fair
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price you know include an earnest money
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deposit include a deposit which will
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have some earnest money limit some of
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the contingencies like while
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contingencies protect buyers too many
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can make an offer less appealing to the
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seller and again this can really depend
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upon whether it's a seller or a buyer's
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market if it of course is a buyer's
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market you may have some more Le weigh
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in some of these things if it's a
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sellers Market you may not this is where
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it comes to where use a real estate
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agent to Advantage you know a really
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skilled real estate agent can be a
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valuable asset in negotiations you know
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they can provide insights into sellers
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motivations help structure an offer that
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appeals to the seller and use their
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experience to navigate counter offers
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and you know other tricky
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situations so here are some negotiation
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tactics to secure the best deal
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the first one is and I I love this one
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and I cannot emphasize it enough because
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so many times when we're buying
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something we get so emotionally attached
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or we make ourselves believe we're
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becoming emotionally attached or we
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think oh this is just the best deal
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possible I couldn't won't be able to
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live without this
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deal the first one is be willing to walk
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away you know this is one of the most
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powerful tools you can use in
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negotiation is the ability to walk away
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this will force the seller to reconsider
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their position and maybe come back with
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a better offer or if not they'll sell it
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to somebody else but you should be in
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the position to walk away you know ask
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for seller concessions instead of
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focusing solely on price ask the seller
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to contribute to closing cost include
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appliances or make necessary repairs
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those are all things that you can do
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some kind of concessions you could add
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in find out why the seller is selling
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you know you we cannot maybe leg ask
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this but you can maybe find out a way
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find out you know they kind of in a
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hurry are will they be flexible on the
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price and there's again where a good
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real estate agent can help you with this
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that they should have some of this
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understanding request a home inspection
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a home inspection can reveal issues that
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can be used to negotiate a lower price
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so you really need to have your own home
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inspection use a professional negotiator
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if you really feel like negotiation is
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not your thing you can't do it you might
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want to have someone help you
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professionally negotiate it and give you
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the best deal possible you know so these
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are all things that you can do to be
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able to help you to be able to get the
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best price possible you can you know
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handle counterfeiting offers kind of
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like a pro you know number one know your
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limits respond
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quickly negotiate Beyond price if the
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seller's firm consider negotiating
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closing costs negotiating other things
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which can help you with some of the cost
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and once an agreement is reached ensured
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all details are documented in writing
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this here is really essential you need
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to make sure things are documented and
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down in writing work closely with the
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lender real estate agent and attorney to
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finalize paperwork and complete the C
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closing process smoothly this really is
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a key here you don't want to be things
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to be held up or you don't want to be
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problems that come and sort of bite you
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later on because things were not done
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properly we've written a Blog on this
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entitled how to negotiate the best price
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when buying a home we'll put a link in
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the description below so if You' like to
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be able to read that we'd love to have
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you be able to to read this and and you
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know we'd love to hear from you we we
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hope that you'll join with us be part of
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our community as we all crunch together
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on real estate and learn on real estate
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thank you so much for listening thank
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you so much for being part of our
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community
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[Music]
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