Posted by Dale OH on November 01, 1998 at 20:39:28:
Tony, don’t get discourged, yoou will find that first deal. My first call resulted in my first property, closed a week ago. Some time you get lucky and some time you don’t. I too have had a couple of rejections. Keep on looking . Good Luck!.
1st Rejection - Newbie - Posted by Tony_PA
Posted by Tony_PA on November 01, 1998 at 18:27:42:
Ok, I got the guts up and made my first call on an FSBO. The first question the seller asked was, “Do you want to buy my home?” I said absolutely! When through all the questions and got to the part about existing financing he has on his property. He flipped out! He said, “you obviously don’t want to but my home!” I asked why would you say that. He said , “because you’re a real estate agent or something like that.” I said "Oh, not, not at all sir, I invest in real estate strive to work on a way to purchase your property that would be good for both you and me. His last response was, “I’m not interested in any of that” and hung up the phone.
Now I realize that I was probably not working with a flexible seller in this case and I can live with that! Maybe he had been misinformed or has a lack of knowledge on real estate investors. Either way, it was tough to swallow for a first time call. Now I just got a call back from a message I left earlier on a property. I will be right on the line to them (as soon as I get off hold with this travel agency).
Getting over it quickly - Posted by Tony_PA
Posted by Tony_PA on November 02, 1998 at 22:35:09:
Thanks everybody for your comments. I have since made about 4 other calls. The last one was to a Real Estate Agency on a particlular property that was just sold. BUT, they turned me on to two more properties that seem to fit my needs. I will be discussing these properites on Friday (because I have to go to Chicago for my REAL job). Hopfully they do not sell. Thanks again for helping me keep my head where it needs to be!!!
Re: 1st Rejection - Newbie - Posted by Jody
Posted by Jody on November 02, 1998 at 21:02:07:
What I learned is you can’t sign a contract over the phone. I usually make the appointment, and save any business arangements until face to face. You Can’t push a pen through the phone! : )
Consider it a learning lesson, we all get them!
Pre-empt the question - Posted by John Behle
Posted by John Behle on November 02, 1998 at 17:12:05:
A large portion of “For Sale by Owners” have had negative experiences with Realtors. Others are being called incessantly by agents trying to get a listing.
I’ve always found it valuable to disarm their question right up front by stressing I am not looking to list their property from the very beginning. When they balk at questions about their financing or motivation, I stress that I am a specialist in creative financing and the more, the greater the possibility of me or one of my investors being able to buy their property.
I have the beginning dis-advantage of being a broker, so I have to notify them and really emphasize that I am looking for my own portfolio. I counter that with my training and EMS designation as an “Equity Marketing Specialist.”
When I anticipate and pre-empt their concerns or reservations, it goes smoothly (most of the time).
Re: 1st Rejection - Newbie - Posted by phil fernandez
Posted by phil fernandez on November 02, 1998 at 06:18:55:
Tony,
All part of the job. You’ll get used to it after awhile. Also keep this guys phone number and call him in a couple of months. At that time he might be more motivated to at least listen to your proposal.
Re: 1st Rejection - Newbie - Posted by Ray(OH)
Posted by Ray(OH) on November 01, 1998 at 19:42:36:
Tony,
I am a newbie myself, just a little further along than you are. The experience you had with that seller is perfectly normal. As human beings, we have built-in survival mechanisms. One of them is to say “NO” to that which we do not understand. Some of us, however, have a willingness, or even a desire to learn new things. (We can be taught new ideas, like the concept of win-win negotiating) Then there are those that don’t have an open-mindedness to learn new concepts, these types spew way too much negativity into the atmosphere and will cause you to waste far too much precious time and positive energy trying to overcome their ignorance.
The good news is that there are a lot more of us than there are of them. Learn to recognize them early on and then move on to the next eager subject.
My two cents,
Ray
Re: 1st Rejection - Newbie - Posted by William Lofton
Posted by William Lofton on November 02, 1998 at 03:02:28:
Well put Ray I agree fully.