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In this video, Jamel Gibbs from REI Education Academy discusses the necessity of extending contracts with motivated sellers in real estate investing. He introduces a one-page agreement that can be utilized for obtaining contract extensions. The tutorial emphasizes the importance of understanding when to use this agreement, particularly during market transitions, if you've overpaid for a property, or if you need additional time to sell a property for which you already have a buyer. Jamel walks viewers through the details of the agreement to aid them in closing deals consistently.