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Doug Pretorius (ON)

Is it just me

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My market is once again breaking sales records and we're still in (though winding down) the peak selling season. And yet just about every other seller I call is interested in renting to own! Just curious if anyone else is enjoying an uptick in seller interest.

 

BTW I've slightly modified my opening line and it seems to be working really well. It eliminates nearly all the "huh?" questions, and gets it out there right away that I'm in business and not a regular buyer, which I find to be very important in my area. Here it is in case some of you want to try it out:

 

"Good afternoon, this is Doug Pretorius with Homes Everyday. I'm calling because we're looking for nice homes to buy in your area and we were wondering if you would be interested in selling on a Rent to Own?"

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Doug, the general consensus here in the States is that across the country the residential real estate market has, indeed, hit a wall. I know here in Florida that inventory has tripled, and even quadrupled, in many areas. Surprisingly, though, there is much resistance from sellers who are locked into the heady days of yesteryear when 25% to 30% yearly appreciation rates were the norm for five years running. The result is that sales have plummeted. Buyers keep reading articles in the newspaper about swelling inventory, so they are making low ball offers. Sellers are digging their heels in. Nothing is moving and inventory continues to grow. Methinks it is only a matter of time before my local market takes a serious turn to the downside. But, that's just one old fool's opinion. Your mileage may vary. :wacko:

As for your script, I like it just fine. No dancing around, to the point, and very similar to what I have been using on and off for years.

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Mike, getting right to the point, especially on outbound calls, is probably the single most important thing I've ever learned in this business and I learned it from you! I think you're one of, if not the only, course authors who tells people to do that. Everyone else advocates talking to each seller for like 30 minutes, getting every bit of info about the property and their lives, before you even have a hint that they would consider a creative offer. It's ridiculous! No wonder everyone gets frustrated with cold calling!

 

Just because you know that they changed their shag carpeting just last week, doesn't make them any more likely to agree to a creative offer, and now you've spent 30 minutes on something that you could have found out in 5 seconds.

 

Anyway, that's enough of a rant about "the other guy's" telephone techniques. About my script... I should have mentioned that it is a very localized script, I've made the changes that I have, based solely on trial and error for my particular area.

 

For example, nearly everyone in my area knows what "rent to own" means. By saying that instead of "lease with option" or "lease purchase", I save a huge amount of time explaining what it is. I know you, Mike, have said that people in your area are not any more comfortable with "rent to own" than they are with "lease purchase" so you use lease purchase because it includes the word they want to hear, namely "purchase".

 

A couple of other things I've done, all in an effort save time by reducing needless questions, is:

 

"Good afternoon, (more courteous than just "Hi") this is Doug Pretorius with Homes Everyday (a business). I'm calling because we (a business) are looking for nice (not ugly) homes (plural) to buy (not list or rent) in your area (we're local) and we (a business) were wondering if you would be interested in selling (not renting) on a Rent to Own?"

 

I've noticed that by mentioning right upfront (and several times) that this is a business calling, and that we're looking to buy, no one asks whether I'm a realtor anymore. There's also no transition where I have to explain that I won't be living in the house myself, which is something I've always found difficult.

 

Anyway, I hope that helps someone :wacko:

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A couple of other things I've done, all in an effort save time by reducing needless questions, is:

 

"Good afternoon, (more courteous than just "Hi") this is Doug Pretorius with Homes Everyday (a business). I'm calling because we (a business) are looking for nice (not ugly) homes (plural) to buy (not list or rent) in your area (we're local) and we (a business) were wondering if you would be interested in selling (not renting) on a Rent to Own?"

 

I've noticed that by mentioning right upfront (and several times) that this is a business calling, and that we're looking to buy, no one asks whether I'm a realtor anymore. There's also no transition where I have to explain that I won't be living in the house myself, which is something I've always found difficult.

 

Anyway, I hope that helps someone :wacko:

Excellent advice, Doug, and worth repeating. Thanks for sharing! :ninja:

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Doug,

 

Are these cold calls for CAs or SLOs or both?

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Mike,

 

It is interesting to see all the press and people still hoping for that white horse. We have been able to move our houses (not rent to own) only by using owner financing.

 

We are getting more seller leads though. Its funny that when they call my 800# and speak to the operator they actually answer the 47 questions. Our marketing is off last month due to many seller calls. I also decided to not to market in one city (Port St Lucie, FL) so my calls are down but we are still getting calls from down there.

 

Hope all is well in Lauderdale. I need to make a run down that way sometime. Gotta take a look at my old stompin grounds.

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Hope all is well in Lauderdale. I need to make a run down that way sometime. Gotta take a look at my old stompin grounds.
Don't be surprised if you find your old stompin grounds are covered by another strip mall or condo conversion :wacko:. That pretty much sums up Broward County these days.

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Christine, I'm letting them choose. I tell them that they can take on all the responsibility and make a bit more money. Or we can guarantee all the payments and maintenance and handle all the management for them.

 

The hassle-free guarantee seems to be the preferred choice. The nice thing is that when they tell me that's what they want, what they're really saying is that they're willing to be responsible on the price and payments.

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Gotcha. One thing though--them taking on all the responsibility in a CA--how do you figure? T/b's are responsible for maintainence and repairs....sorry, maybe I'm confused. I think what I need is some refreshing on the real differences between SLOs and CAs. Thanks.

 

 

 

Christine, I'm letting them choose. I tell them that they can take on all the responsibility and make a bit more money. Or we can guarantee all the payments and maintenance and handle all the management for them.

 

The hassle-free guarantee seems to be the preferred choice. The nice thing is that when they tell me that's what they want, what they're really saying is that they're willing to be responsible on the price and payments.

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Christine, I'm letting them choose. I tell them that they can take on all the responsibility and make a bit more money. Or we can guarantee all the payments and maintenance and handle all the management for them.

 

The hassle-free guarantee seems to be the preferred choice. The nice thing is that when they tell me that's what they want, what they're really saying is that they're willing to be responsible on the price and payments.

 

 

Great line! What do you suggest if an investor does not have a company when intorducing yourself to sellers? Thank you.

 

Robert

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Gotcha. One thing though--them taking on all the responsibility in a CA--how do you figure? T/b's are responsible for maintainence and repairs....sorry, maybe I'm confused. I think what I need is some refreshing on the real differences between SLOs and CAs. Thanks.
You're not confused, Christine. You're just thinking about a CA from the perspective of an educated investor, instead of a seller. Sellers don't know what a CA is and they don't know there's a difference between a tenant and a tenant/buyer.

 

When I offer them the choice, I explain just the basics as I stated them above. So the seller thinks: "Ok, so I can make more money but I have to do all that management and maintenance and who knows what all. Or I can take this Doug guy up on his offer to GUARANTEE the payments and maintenance whether he has a subtenant in the house or not!"

 

Great line! What do you suggest if an investor does not have a company when intorducing yourself to sellers? Thank you.
Doesn't it cost something like $50 and 15 minutes online to get a business license?

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Gotcha. One thing though--them taking on all the responsibility in a CA--how do you figure? T/b's are responsible for maintainence and repairs....sorry, maybe I'm confused. I think what I need is some refreshing on the real differences between SLOs and CAs. Thanks.
You're not confused, Christine. You're just thinking about a CA from the perspective of an educated investor, instead of a seller. Sellers don't know what a CA is and they don't know there's a difference between a tenant and a tenant/buyer.

 

When I offer them the choice, I explain just the basics as I stated them above. So the seller thinks: "Ok, so I can make more money but I have to do all that management and maintenance and who knows what all. Or I can take this Doug guy up on his offer to GUARANTEE the payments and maintenance whether he has a subtenant in the house or not!"

 

Great line! What do you suggest if an investor does not have a company when intorducing yourself to sellers? Thank you.
Doesn't it cost something like $50 and 15 minutes online to get a business license?

 

Thank you for the reply. I am not looking for a business license. Is there another "better" or "professional" way of introduction to seller via phone or email if investor does not have a company. I'll create a company later on. Right now I am thinking of "Hi, my name is Robert... and I am a management property consultant..." What do you think?

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Thank you for the reply. I am not looking for a business license. Is there another "better" or "professional" way of introduction to seller via phone or email if investor does not have a company. I'll create a company later on. Right now I am thinking of "Hi, my name is Robert... and I am a management property consultant..." What do you think?
That might work, give it a try. You could also use an operational name that sounds like a business: "Hi, this is Robert with Igloo Buyers of Florida"

 

... "Is global warming melting your home? Polar bears eating your children? Baby seal hunters trashing your rentals? We're your solution! We buy Igloos in any area or price range! Call 1-800-YELO-SNO"

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. . .You could also use an operational name that sounds like a business: "Hi, this is Robert with Igloo Buyers of Florida"

 

... "Is global warming melting your home? Polar bears eating your children? Baby seal hunters trashing your rentals? We're your solution! We buy Igloos in any area or price range! Call 1-800-YELO-SNO"

:blush: You know, I'm tempted to dial that 800 number to see who answers, but I'll leave that to Jason.

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You know, I'm tempted to dial that 800 number to see who answers, but I'll leave that to Jason.

 

 

Some kinda f'n AT&T access code thingy. :blush:

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