getting started

[mamasanta25 0]

Hello all,

I was just about to make the first call to a fsbo ad. I actually called and hung up. Honestly I was very confident, so I have no clue what happened, but I couldn't do it. I don't know what I am afraid of. There are a few concerns I would like to voice, however. What if, by some stroke of good luck, the first homeowner I call wants to do a deal with me? I don't know what the heck I am doing yet. What am I going to tell him, ummmmm, can I call you back tomorrow and discuss the details? I mean, yes I know the basics, but if I were a homeowner, I would want to know every possible detail about this process right away. I don't have those details readily available upon making the call. When I do make the call, the homeowner will ask what lease purchases are, and how exactly it would work, because lease purchase deals do not occur around here at all. I know the basics, but I guarantee that won't be enough for the person. Well, I guess I may be experiencing the paralysis of analysis, as we all do. I just hope I can make it out of this annoying stage. Any suggestions?

Samantha

[ChrisNJ 0]

Hi Samantha,

 

Here are my suggestions:

 

First...Take a deep breath. Try to relax a little. Maybe squeeze one of those stress balls.

 

Second... Use a script. If you know the material well, maybe you can anticipate questions the homeowner will ask.

 

Third...Practice on someone. Call your girlfriend and give her your schpeel. (sp)

 

Fourth... Picture the homeowner naked. Try to be disarming. Tell the owner that the WORST thing that will happen is he will sell his house.

 

Hope this helps a little.

 

Chris

 

P.S. Hooray...my first post!

[Andrew Ikeda 0]

Hi Samantha:

 

Sometime ago, I suggested doing role play in the 'suggestions' section of this message board. Would you be interested in maybe practicing by e-mail or on this message board?

I've also wondered about this too. We must remember that the first few phone calls are going to be a learning experience. So what I suggest is just relax and dont expect to make a deal. Be positive but dont have high expectations. When I go to job interviews, I always tell myself that I wont get the job but look at it as a way to practice my interviewing skills and meet people. I usually dont have to wait long to find a job. Perhaps the same idea's will work for investing?? Also be honest.

Just some thoughts. Hope it helps. Good luck.

 

Sincerely,

 

Andrew

[MichaelC 160]

Good morning, Samantha. I see your struggling breaking out of the comfort zone you have created for yourself. This is a very common trait among novices. Rest assured this means you are normal .

You say you think you are experiencing the ol' familiar paralysis of analysis. I don't know that is it, as much as a simple fear of the unknown. That unknown being what happens when you speak with homeowners.

I can best reply to this concern based on my personal experiences, and the experiences of many of the students I have worked with. This fear you have is in the heart of each and every new investor. You are not unique in this regard. Every new investor who has gone on to become a successful one overcame their fear by picking up the telephone.

You dial and introduce yourself. You explain quickly and directly what you are looking for. If the homeowner says, "No, thank you.", wish 'em luck and move on.

The next few go the same way.

Suddenly, one says they have been unsuccessful trying to sell, and were just about to put their house on the market for rent. They hadn't thought about a lease purchase and they aren't sure what a lease purchase is.

What are you going to do at this point? You already said you know the basics. You'll be surprised how much more you know than you think, and how satisfactory you're answers will be to the homeowner.

Now, let's go further and say the homeowner wants more info. Slow things down, Samantha, and tell them you will be happy to email them some additional information about what you do and how you do it. You can always tell the homeowner that you will consult with your "partner" and get back to them, should a question come up that you are not certain of the answer. A "partner" is a great thing to have to slow things down when you need some time to think.

After you say this, email me and I'll be happy to help you. I want you to have a success story to tell. But, it starts with you picking up the phone and making those calls. You can't get a deal if you don't make an offer. You can't make an offer if you don't find a motivated seller. And you can't find a motivated seller if you don't talk to a lot homeowners.

[option8 0]

I think role plays would be valuable...we could all learn new ways to respond to objections...Andrew- what a great idea! Count me in!

 

Option8

[mamasanta25 0]

Thanks Chris and Andrew. Chris you really made me laugh. You are right though, if I use that approach, it doesn't have to be so nervewrecking. I mean, it really doesn't anyway. I just live in sort of a smaller town, and people here are really uptight, especially when it comes to selling their home. Well, maybe anyone who is selling their home is that way, who knows. I am going to try again today, and hopefully it will be okay. I am most afraid of sounding like an ass. You know, someone who really doesn't know what they are talking about. But I realize I have to start somewhere. Wish me luck. Hey, is anyone getting deals out there?????

[mamasanta25 0]

Hey Michael, we were posting at the same time. That is great advice, and I will take action today with all of that in mind. Thank you. And Andrew, I will certainly share suggestions for your role play idea.

[Mr Saint 0]

Samantha,

 

I haven't had my first "successful" deal yet, however, I've talked with a lot of homeowners. You're right about sounding like you don't know what you are talking about....at least for the first few. With my first calls, I stumbled over words, lost my train of thought, didn't know the answer right away, even said things that were really stupid. The thing is, you will find out, homeowners will basically ask the same questions. Once you talk to a few, you will be able to anticipate their questions and be ready with a quick informed answer.

 

I feel your pain....I hate talking to someone when I don't have a full grasp on the material....but it does get better. Pretty soon, you'll be talking lease/purchase in your sleep.

 

Go get 'em!

[mamasanta25 0]

Thanks Mr. Saint, that helps me to know that everyone else feels stupid too, and it is actually a bit humorous to picture you, and myself stumbling over words, just like when you are giving a class presentation, ya know? Anyhow, I know what has to be done, and thank you all for your words. They have tremendous power.

Samantha

[mamasanta25 0]

Mr. Saint, what area are you in? Are there other people doing this sort of business? Or are you virtually the only one?

[Mr Saint 0]

I'm in the Atlanta, GA area. There are LOTS of people doing this sort of thing. I can only hope I'm one of the few doing it "smarter"

[Guest shane]

Hello Mamasanta25 I find it helps doing all the things the gentleman have recommended to you, especially having a phone script and role playing. I also have sat down and thought about all the possible questions a seller might ask and mastered them.If you find yourself making a call and getting nervous, tell yourself that you have already spoken with this person and you are calling them back to reiterate what was already gone over.I know the phone fears, and they don't help.

I hope this helps.

[mamasanta25 0]

Thank you shane. That's nice of you.