Jump to content
The forums have been archived and are now read only. Years of great info saved for your reading pleasure. Thank you! Visit us on Facebook: https://www.facebook.com/NakedInvestor/ ×
The Naked Investor Forums
Doug Pretorius (ON)

My Pure Option Journal

Recommended Posts

Doug,

 

You think perhaps it could be your presentation?

I've never heard you talk to a seller or the word-for-word contents, but from what you've

said and typed over the years, this seems to be "where your system is breaking down".

There should be no reason for any seller NOT to sign with you.

I've met with countless sellers myself, and whenever I didn't see a deal for me to have or

any other way I could help them, I usually (8 times out of 10) had them agree to and sign a Non-Exclusive Option.

Of all the ones I asked or suggested, NONE of them refused.

Share this post


Link to post
Share on other sites

Well I have zero experience talking to sellers about pure options but I have to agree with Jason. I can't see why they wouldn't sign. The offer is fine, so obviously it's something else. I'm gonna call it the "schmoozz" factor. Sellers must be getting a bad vibe from you Doug, something they don't like. Again, I have no experience so maybe I have no idea what I'm talking about, but I think you need to work on getting sellers to trust in you. How you do that, who knows. Maybe it's because you been working for yourself too long and just ordering around all these TB's. If you had a real job and you were trying to move up the ladder like the rest of us punks you would understand how to "schmooz" people and tell them what they want to hear. Maybe you should get a job at McDonalds and try to work your way up from fry guy to night shift manager, then you could learn how to "Schmooz" ^_^

Share this post


Link to post
Share on other sites

Well something's definitely got to change drastically. The house that I made an offer on (that started this thread) is now listed with an agent for LESS than I offered (then they still have to take the commission off of that!)

Share this post


Link to post
Share on other sites

Come on down to Alabama and we'll inject some southern charm & hospitality into ya.

 

Ladies will wanna be with you, and men will wanna be like you.

 

^_^

Share this post


Link to post
Share on other sites

Update

 

Had my 6th full price pure option offer rejected a couple of days ago. And I haven't had anyone else contact me about selling their houses in the last several days, this is probably because I ran out of FSBOs and started over re-contacting the same ones.

Share this post


Link to post
Share on other sites

Ok Doug, You know what I was thinking? Selling something as personal as your house is not always as simple as getting the price you want. I'll bet many people want to know that the house they built memories in is going to someone they feel comfortable with. Here's an analogy: 3 managers interview 4 people for a job. Do you know what the number one factor is in determining who gets hired? Research says that it is NOT qualifications (like your full price offer). In actual fact, the number one reason people get hired, is that the interviewers LIKE the candidate (or can see some of themselves in the candidate or relate to him/ her ...). I think this is what the problem is with your full price offers. Like I said earlier, I think these people need more "schmoozing". They need to see you are a decent, hard working, helpful person, that is going to do a transaction that helps the seller and another family by offering financing to help them get into the house. Does this make any sense? Rob

Share this post


Link to post
Share on other sites

Rob, that could be part of the problem.

 

I think another part is the Dancing Bear Syndrome (Adam, you remember this don't you?) A non-exclusive option offer doesn't qualify sellers at all, so it's no surprise that you're going to get a bunch of flakes. It's like signing up buyers who have no income and no savings ... a total waste of time.

 

I've been reading the websites of a lot of successful realtors and you know what I've noticed? They don't sell the benefits, at least not right away. FIRST they scare sellers to death by describing the selling process with words like: "complicated", "dangerous", "lawsuits", "financial disaster" etc. Then they present themselves as saviors.

 

I think sellers take one look at my offer and think: "This schmuck is giving me everything I want! If I hold out maybe he'll wipe my ass too!"

Share this post


Link to post
Share on other sites

I just finished firing off my 3rd batch of 20 emails to FSBOs in the area. Some of these sellers have received 1 or 2 emails before plus a phone call. I'll start calling the first batch again tomorrow to follow up with the email.

 

I've learned not to expect a landslide of sellers just because I'm offering full price in cash. Most (95%+) of sellers still won't go for it--amazing but true. Now I understand why realtors (who also essentially offer full price all cash) are doing VERY well and become a top-producer if they can "corner" Just 1% of the market.

 

 

Hey Doug,

 

Long time since I've been on this board here, eh?

 

Anyway, I can't seem to figure out why all these sellers are not willing to selling to you either. You know, confidence and trust plays a huge part in pulling this type of business off!

 

However, what I DO KNOW is that you know your stuff man. You are da man when it comes to creative real estate, and your marketing / advertising, etc.

 

So, I started thinking, what does Dougie boy need. I mean, RIGHT NOW!

 

And it hit me. You should do what I just arranged after failing so miserably at this myself too.

 

I now have a partner that I work with who actually has over 40 years in CREATIVE REAL ESTATE INVESTING. His duties are, but are not limited to:

 

Taking ALL the calls from my sellers;

 

Meets with them;

 

Negotiates with them; AND

 

Writes up the paperwork.

 

You see, he's the expert, not me. I am expert in the marketing aspects and can come up with some crazy ideas. He helps make it happen!

 

So, Dougie, I think you should try to find someone to partner up with and have them do all the negotiations with the Sellers.

 

As far as dealing with Buyers & T/B's, I already know that have this area down pat.

 

Anyway, hoped this helped and/or gave you some inspiration!

 

It ain't over until the Fat Lady Sings! Don't forget that, Dougie!

 

Good luck!

 

JMB :lol:

Share this post


Link to post
Share on other sites

Taaah-daaaaah!

 

Finally got my first straight option, as mentioned in Adam's challange post. Potential profit is roundabout $20k.

Share this post


Link to post
Share on other sites
Taaah-daaaaah!

 

Finally got my first straight option, as mentioned in Adam's challange post. Potential profit is roundabout $20k.

LaBatt's all around! Congrats, Doug. :o

Share this post


Link to post
Share on other sites

Congratulations Doug!! Well... with all the trouble with sellers in the last bit, what was different this time?? Do tell!

Share this post


Link to post
Share on other sites

Get paid, ya canuck!!!!!!

 

 

I'm wondering...how does Canadian currency compare to the American dollar (as in conversion rate)?

Either way, $20k + ain't too shabby.

Good luck.

Share this post


Link to post
Share on other sites
. . .I'm wondering...how does Canadian currency compare to the American dollar (as in conversion rate)?

Either way, $20k + ain't too shabby.

Good luck.

$20K Canadian buys a lot of blubber for the little lady in your life. :o

Share this post


Link to post
Share on other sites

Thank you one and all :o

 

$20K Canadian buys a lot of blubber for the little lady in your life. :D
...not to mention electrolysis.

 

Congratulations Doug!! Well... with all the trouble with sellers in the last bit, what was different this time?? Do tell!
I approached them as a private lender and investor with qualified buyers, and all I need from them is to show their house to my buyers.

Share this post


Link to post
Share on other sites

×
×
  • Create New...