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Cold calling techniques...help me?

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My biggest fear of being a lease option investor is making cold calls to FSBO and FRBO. When I think about making the call I picture a man on the other end of the line being extremely angry that I just disturbed his evening and then giving a piece of his mind. Does anyone else share this fear.

 

 

I would love to hear for people who have overcome this fear. How did you do it? Visualization?

 

Any assistance would be greeeeeeeeeaaaaaaaaatly appreciated.

 

 

 

Thanks,

 

Ed

 

 

Ps. For you experienced L/O investors that call on FSBO and FRBO typically what do the people on the other end say/do when they are not interested. Do they yes, are they polite, etc.?

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My biggest fear of being a lease option investor is making cold calls to FSBO and FRBO.
You and every other newb, Ed. This tells me you're running about normal.
When I think about making the call I picture a man on the other end of the line being extremely angry that I just disturbed his evening and then giving a piece of his mind. Does anyone else share this fear.
Why would the man on the other end be angry? He has paid to have his phone number in the newspaper so that people would do just that: call him. It may very well turn out that he isn't interested in anything but a conventional sale with a new loan. So? What's he got to be angry about? Wish him luck, thank him for his 90 seconds, and move on. If you start to catch an attitude, it isn't difficult to hang up the phone on someone...........and it can be quite satisfying, too :D .
For you experienced L/O investors that call on FSBO and FRBO typically what do the people on the other end say/do when they are not interested. Do they yes, are they polite, etc.?
Are most folks polite? In my experience, yes. But there is always the curmudgeon with the bad attitude. So what? I hang up the phone and my relationship with this guy has just been terminated. Or, if I'm in a playful mood, I can always give it back as good as I can get it :lol: . But, again, the rude jerk is certainly the exception. Hey, most folks just want to sell their house and be done with it. They are not angry that you called to inquire.

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Thanks Michael. Those are some good tips. I have a feeling that once I start making some calls that I will find that most people are not the monsters I am envisioning them to be and I will start to feel more comfortable.

 

I appreaciate you sharing your personal experience with me.

 

I guess I can look at it that I am giving the homeowner another option to choose from. The more options the better for the home owner. I can offer quicker financial relief than selling conventionally. The more I think about it the more I realize that lease options are actually a really good thing. About 12 years ago I was buying and selling foreclosures. I had one that I couldn't sell because the prices were dropping fast. I would have loved to had someone offer to take over my payments and maintenance using a lease option and pay me in two years. I just wanted quick relief and to get on with my life. Having options are good.

 

I also like your reminder that I can just hang up and it's over.

 

 

Anyone else have any thoughts on techniques to use for making cold calls less anxiety filled. The more options I have the better.

 

 

Thanks,

 

Ed

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Hi Ed, I am a newbie, and still a virgin no deals yet. Hey you will have good, and bad days. Like being sick, or not just wanting to get on the phone, but you can do other things like write numbers down, and drive your area to look for fsbo, and go on line to look for homes for sale. When I first started out calling I was very scared. I was very nervous, and about after the fifth call It started getting easier. There are all kinds of things to get you on the phone. I will share minds with you. I have two grandsons now, and they live in Arizona if I continue to work for someone else, I will never see them. That motivates me to pick up the phone. I also have two of the lowest paychecks that I have received from work. One is for $443.51 and the other one is $533.59 and I look at them everday. Here is one for you. I say to myself I am tough as a Rhino, and that keeps me from being scared. I know it crazy right but it works for me. Ed look at this like you are providing a service, and you are. Some people will need your service, and some people will not need your service. The good part about your business is you decided who you wan't to work with. We are not in the retail business so we can work with who we want. ;) I had one guy that talk fast to me on the phone. He just told me to just drive by the house. I said ok, and hung up. I did not like him so I will not call him again. :o I ask one women is your house still available? She said no real loud. I said to myself she must be having a bad day. B) You get good ones, and bad ones. To be honest with you the people that are not so friendly on the phone. I like them yes it sounds crazy, but I look at it this way, they are giving me free trainning to be Rhino Tough. As in I am tough as a Rhino. :lol: Just remember Ed we are looking mainly in the paper and the FSBO and the frbo, and that is not even counting all the homes that are listed with and agent, so we will never run out of homes. Also if you have kids, or plan to have kids, and you work at this you can have quality time with them. And not have to worry about going to work for someone else. Your work will be at home, and it does not get any better than this. Just my 50 cents. :D

 

MichaelR

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I get so terrified that I freeze and am not able to pick up the phone, but I have found that I can talk myself into it if I believe in what I am doing.

So, what I do to motivate myself is read over Michael's manual and I come here to read success stories. I do what you are doing right now, I get positive feedback and it motivates me armed with this motivation along with a cup of coffee, I begin to make the calls and always, and I mean always be confident when calling others. Gain your respect right from the beginning. I use a solid steady voice and I keep it short and sweet and then I wait. They will tell you what you need to hear to either go forward or terminate this call.

After a few calls it gets easy and even intoxicating, you will want more numbers to call, more people to talk to, you will become afraid to stop for fear of losing this brand new confidence and bravery, you will be the Lease Purchase Specialist!

Hopes this helps!

Cruz or Brandon?

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Here's my two cents worth:

 

When calling, sound friendly and interested. Then ask questions and start the conversation in this order:

 

1) Ask about the house (or if you have info on it then just confirm it)

 

2) Ask why they are really selling it

 

3) Then make some remark about how others are having similar reasons or that the economy still stinks or something to distract them.

 

4) Then ask them why they are REALLY selling?

 

5) Then ask a question like: "If someone were to offer you all cash today, what would be your best price?"

 

6) After your answer to #5, stop and pause...sounding uncertain or confused...or something like that...

 

7) Then ask: "Is that really the best you can do?"

 

8) Then ask them: "If I gave you your asking price, could you give me terms?

 

9) I think at this point you'll know if the deals dead or a no go. Be sure to follow up in about two to four weeks as their situation may have changed.

 

As far as the fear factor is concerned, I started with 5 phone calls per day for two days and then worked up to 10 per day. Set a weekly minimum and stick to it.

It's definitely a numbers game so dont be discouraged after the first few phone calls. Sound natural, as relaxed as possible and by all means don't sound desperate - be in control of the conversation.

 

Hope this all helps.

 

Andrew

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You know, nothing gets you over that like just making yourself call people over and over. And go at it awhile, don't just call one person and then break, keeping at it for a few hours and you get over the jitters.

 

I have found most people to be very nice and open to ideas of how to solve their problem. Just last week when we did a lease purchase, the sellers told us afterwards about their experience with another investor in town. They had met with this investor before us. They didn't like him at all. They felt he was demeaning and short with them. So they called us off of one of our signs. We were nice, chatted with them over a few weeks, actually before we ever got the paperwork done. They had a lot of questions! It was well worth it to hear their praise and the $19,000-$37,000 we will make off the deal isn't bad either! :rolleyes::D

 

AngelMG

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Good points, Angel. First, we must make those calls to get over the anxiety of doing so. After you do and get over the hump you soon look back and wonder what all the stressing was about. You'll kick yourself for not beginning sooner.

I, also, have done many deals with homeowners who had spoken previously with other investors. Turns out these other guys are rude, fast talking snake oil salesmen. The homeowners don't trust 'em. They called me, Mr. Rico Suave, and I got the deal and the money.

My point is that you, too, can be smooth and polished speaking with sellers. But it starts with talking to that first one and growing from there.

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