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AMPinvestor

Seller copycats

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Has anyone ever called a potential seller out of the For Sale By owner ad in their local paper? Only to see the same sellers ad two or three weeks later, now reading For sale with option to buy, etc. I was wondering if there would be a script to get our point across but not give to much info. as to what we what we do. To avoid the copycat seller.

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You don't want to give away your strategy, which is what happens when you educate the seller.

 

Instead, maybe your dialogue should go something like this:

 

You: Mr. Seller, if you don't sell your property what do you plan to do with it?

 

Seller: I don't know for sure, maybe I will just rent it out for awhile.

 

You: If I rented from you for two or three years, would you be willing to sell to me if I could give you your full asking price?

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Amp, sure, this has happened to me on a number of occasions. More so when I was first starting in this business. In my eagerness to show how knowledgeable I was, and to provide the homeowner with customer service, I would spill my guts in hopes of getting them to deal with me.

Then, I would be told they "need to think about it". Two days later I would see an ad in the paper with that seller's phone number. I would call and pretend to be a potential tenant/buyer and listen to these folks pitching the advantages of a lease purchase to me!

It bothered me greatly at first. But, then again, this behavior by a homeowner was the exception rather than the rule. Most homeowners are not interested in doing the work involved in this business themselves. Most are also wise enough to know that a little bit of knowledge that they may have gained from me isn't going to put them in the real estate business. And, of course, most know that they need the proper paperwork to cover their backside and do the deal properly.

To amuse myself, one of the things I began doing was calling these folks and pretending I was an interested tenant/buyer. But, a troublesome tenant/buyer. Asking all sorts of questions that would make them think they have opened a huge pandora's box they weren't expecting. You know, questions like:

1) Can I raise pit bulls in the yard?

2) Can I have a two week grace period to pay the rent?

3) Can I call you at anytime of the day and night if there is a problem?

4) Can I sublet some of the rooms out?

5) Can the title be put in my name now?

 

You get my point. Have some fun and, who knows, they might be calling you back in a few days.

In the meantime, if you find this is a consistent problem, (and I'd be surprised if it is), tone down your "education" of these homeowners. Make 'em need you, and perhaps you can emphasize the need for very strong contracts which protect their interest. This is something they will hang on because they don't have 'em, and can't get 'em at Office Max, either.

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When presenting your offer to the seller, they should be motivated enough to use your service. If they think really they can sell themselves, let them. Maybe they just aren't motivated enough? Maybe use your service as a consultant, with a good fee of course. If they still don't sell, and NEED to, they just may come back to you with an open mind.

 

The reasons why a motivated seller will need your service is either they lack the knowledge to put a deal together, or they are just fed up, and want to be done with it!

 

Just my 2 cents.

Nick

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