Re: Now, I’m confused… - Posted by Jim FL
Posted by Jim FL on April 15, 2002 at 15:46:42:
Frankly, I like what Johnboy had to say, and suggest.
I use a technique somewhat like that.
However, when I’m busy and call volume is WAY UP, I will sometimes go into a little more detail on the phone when asked that question. (Screens out the ones who are not READY to sell TODAY, and those are who I want! The sellers who say, "PLEASE come buy my house, and I do not care HOW, just get me OUT NOW!!)
I also get a ton of callers asking, “how does this work”.
My first reply is usually, “well, we buy and sell houses. What do you have?”
We then open the dialogue as to what the house is all about, and try to get into the sellers situation.
Should a seller still request info on “How this works”, I’ll reply with something like this.
“Mr. Seller, this really depends on your situation. But, let me break it down for you. We basically buy our properties one of two ways, either ALL CASH for a SEVERE discount, or on terms.”
100% of the time they ask about the CASH offer.
We tell them that we inspect the house, and if it is something we are interested in, or have a need for, we can pay them up to 65% of the full value and close in a week.
This usually gets them to ask, “What is this terms thing?”
To which I’ll reply something like this…
“Well, terms means we can pay a higher price to you for the property. You and I Mr. Seller will talk, look over the house and come to an agreement on numbers, and we MAY then be able to take over your payments, taxes, insurance, and basically anything to do with the house.”
“Does this sound like something that would work for you?”
If they say, “No”, we ask “Why? what do they want to happen here?”
I’ll also add in a little FLASH of REALITY and ask them, “If you do not sell the house, what will happen, or what are you going to do?”
This often gives the sellers that “Deer in headlights look” and brings them around.
I do prefer to do this face to face, but when busy, going to see a “maybe” house is just not doable daily.
I do TRY as you mentioned, to get the sellers to talk to me first about the house and their situation.
This gets you into a good dialogue, and opens the sellers up.
When dealing with sellers, you are not only offering them a solution, but selling yourself and your ability to solve their problem.
Once you convince the seller that your offer will solve the problem they have, and you WILL perform, deals become much easier to get signed.
Just last week I met with a seller, looked over her house, and then talked about my offer.
After we presented what we could do for her, I asked her one simple question…
“Would you just like to get this taken care of today?”
She responded with “Yes, that would be perfect, I’d like to be done with this house ASAP.”
I then had my partner go to the car and get the forms.
We signed her up, collected the keys, placed a sign, (the house was vacant), and left to begin and complete due diligence.
Everything came back fine, clear title, loan info verified etc.
So, a truly motivated seller will often sign what ever you place in front of them, as long as it solves their problem.
This particular seller is covering a few more payments, and sending them directly to me.
We are getting calls on the place, and expect to fill it very soon.
Anyway, this is just how I handle deals as they come.