script is this OK

[theaussibloke 0]

Hi all; the other day I went to see some people who were selling their house FSBO. This is the second time I've agreed to go see someone and they just wanted to "talk about it" They said "they are thinking of renting their place out and they will try to sell it for a while longer but if that dosent work they get in touch with me."

 

I'm getting sick of this line and the lesson here for this newbie is they are not yet motivated enof to do the deal and I am being controlled by them not the other way round.

 

This first script is what I sent them via the FSBO website email is:

 

"Would you like to sell your property on a rent-to-own basis. I can help you with this free of charge.

 

You will get next years price plus a bit more and a rental premium.

You will get a tenant who will treat your property like it’s theirs because they intent to buy it.

The tenant buyers will do all the day-to-day maintenance at their own cost.

You wont have to lose money by going to an agent or discount your price.

 

Email me.

Thank you - Kevin Piggott

The Rent To Own Consultant

XXXX XXX XXX.

PLEASE INCLUDE YOUR PHONE NUMBER

 

 

The script below will be the script I am thinking of using to try and prevent the seller from calling the shots. It mostly comes from a post by another person on forum.

 

“Before I come over to your house, I need to know what you need for a sale price and what rent do you need to cover the mortgage?

 

I would like to do some research and make sure this is in line with what I think I can get before we go to the next step.

 

Also I need to know; if the numbers work for you, are you prepared to go ahead with this when we meet because I hav’nt got the time to come to yours until you decise you're going to go ahead with it.

 

As part of my duty of care to the tenants I will need to see a copy of both your drivers licence and a rate notice from the city council or a copy of the title deeds to the house when I come over.”

 

 

My question is, Will this second script ensure I stay in control and is it a bit too direct, confronting and off putting.

 

I would also appreciate some feed back on the first script too as I suspect I may be giving them an RTO lesson.

 

Thanks for your help and have a great year.

[Adam King (MI) 1]

Kevin,

Your script should involve one thing. Listening. It should then involve you producing the verbiage of a win/win scenario. Sounding like you're going to save their lives doesn't work. Sounding like you are willing to help but cautiously does. This is known as the give and take away. When the seller starts calling the shots and it begins to hurt my profit, I walk. I'm here to help not to be told what to do or what to buy. That is a decision I will make on my own. Keep that in mind while talking to sellers and you'll be just fine.

 

Another thing to think about is saying too much. I see a lot of new investors talk themselves right out of a deal when they start talking about how they work with the tenant/buyers. The seller needs only to hear three things.

 

1. You're intersted

2. You can do what you say you can

3. You'll buy/control the house

 

Hope that helps,

Adam

[MichaelC 160]

My question is, Will this second script ensure I stay in control and is it a bit too direct, confronting and off putting.

Aussie, no script will guarantee that you will stay in control as a result of it. Each deal and each homeowner is different. To be successful in this business requires the ability to think on your feet and, perhaps more importantly, to be willing to make your share of mistakes and learn from them. What all that means is we need to continually be mixing it up with sellers. Then, after all is said and done, step back and understand what worked and what didn't, and how to be better the next time.

To answer the second part of your question, yes, in my opinion that approach is too forceful. If it were me and I was being told I needed to provide my drivers license and deed to a complete stranger, I suspect I would end the conversation then and there.

[Craig 0]

The seller needs only to hear three things.

 

1. You're intersted

2. You can do what you say you can

3. You'll buy/control the house

 

Hope that helps,

Adam

 

 

Adam:

 

I like your thinking keeping it simple. You know how many houses I have talked myself right out of, LOTS.

 

Will use that as a guide for the year. LISTEN and keep it simple.

 

1. You're intersted

2. You can do what you say you can

3. You'll buy/control the house

[Gordon Holtner 0]

Hi people

 

Craig I too have talked myself out of at least 5 deals this month. MC's manual is right the less said is better

I guess the only way this lesson sticks is if you just do it. Aussie, Adam and MC are right say less listen more and of course try again and correct your mistakes.

 

 

Gordon Holtner

[megabucks41 0]

MC and Adam are always right because they have paid the price to be whom they have become. In order to reach their level I will do what ever it takes to get there, no matter how long it may take. This is not a business about selling homes or buying them. This is a people business, and the more you learn to talk and listen to people the better it gets. One more thing: you have to try and get the answers to your questions from sellers or buyers in a way that is not confrontational. You want to have a friendly conversation, always making your questions soft and relaxed. We have used a script written by Peter Conti and David Finkle and we turned that and made it ours after a year of practice. Getting a deal doesn't seem hard. Getting rid of them is a bigger hurdle and maybe it will take another year to learn that. Who gives a rip as long as I keep moving forward to my goal of being like the two most powerful men in my life right now, whom are MC and Adam. . .plus the rest of the gang on this board. Happy Year all, and may we all make more than the year before.

[MichaelC 160]

Ernie, many thanks for the kind words. It's always appreciated.

Getting a deal doesn't seem hard. Getting rid of them is a bigger hurdle. . .

I must tell you this surprised me when I read it. Especially so in our area, which is a sellers market extraordinare. If you are consistently having trouble moving a property once you have it under wraps, this tells me it can only be one of two things. Either there aren't enough people who know about the property being available, or the terms are not in line with the market. The remedy is to review your marketing strategy, and verify that the figures you're asking are in line with the local market.

[megabucks41 0]

MC you are right and we've have had a few set backs but we have gotten back on track as of late and the one thing that we are encountering is when dealing with some of these sellers is that they are looking to get way above market value for their property So in the beginning of talks once we agree on our price after a few days we might have to go back and bring that price down some, cause it just won't move just like we told the sellers it would do then it's when the sellers changes their minds at times about doing the rent to own they want max cash out. So we go to the sellers that want to work they way we want them too. And as far as marketing we are doing bandit signs, flyers and the flyer mag. And we are getting a lot of calls and the word is spreading out about the webpage which is good. So I am sure that this year should be a great one.

[MichaelC 160]

Ernie, as tempting as it is to do and say anything to get the deal signed, try to resist doing so. Taking on a property that is overpriced will only result in an angry homeowner, (it'll always be your fault, even though you told them the price was above market), unnecessary marketing expenses, and frustration for you because you can't move the property.

Do your CMA and share it with the seller. If they still want to add $25K to the price, let 'em do so. . .but without you being a part of the picture. Call them back in a month after they have seen the error of their ways. They'll have wasted their time and money, not your's. And they'll have no one to blame but themselves. And now if they are serious, you have yourself a property with marketable terms.

[theaussibloke 0]

Thank you all for your help. Certaintly appreciated