Craig 0 Report post Posted December 29, 2007 I have seen articles on educating the prospective seller to the advantages of Lease Options. I get many prospective sellers who say NO to lease options because they don't understand the process. They do see the time line which is required to complete the sell and its not always a sell. My question,how can we as consultants educate them without looking like a hard sell salesperson? Michaels brochure "Advantages of Lease Options" is simple and factual works good. Information CDS with a presentation might be a good mailer with follow up. What do other "NAKED BOARD MEMBERS" use to accomplish this hurdle? Steve, should have some good input here because he is a educator... Share this post Link to post Share on other sites
Doug Pretorius (ON) 9 Report post Posted December 29, 2007 I tried educating sellers on the phone. I tried educating them with a detailed website. I tried delivering a brochure that included everything from testimonials to a detailed FAQ. None of it worked. It reduced my sorting speed, caused me to spend time on something other than contacting more sellers, and in the end it didn't convert anybody. I discovered another way to bypass the "huh? I don't get it, ahh.. NO!" response. It takes about 1 minute and goes like this: You: "Hi, I was just wondering if you would consider renting your house?"Seller: "Yeah I've thought about it."You: "How much would you need in rent?"Seller: "Umm, about $1,000."You: "If I wanted to buy the house in a year or two would that be alright?"Seller: "Sure!" Everyone understands "rent" and "sell". So instead of trying to educate sellers about lease/options which they think they don't understand. Just address the components of a lease/option, which they do understand. Share this post Link to post Share on other sites
Craig 0 Report post Posted December 29, 2007 I tried educating sellers on the phone. I tried educating them with a detailed website. I tried delivering a brochure that included everything from testimonials to a detailed FAQ. None of it worked. It reduced my sorting speed, caused me to spend time on something other than contacting more sellers, and in the end it didn't convert anybody. Everyone understands "rent" and "sell". So instead of trying to educate sellers about lease/options which they think they don't understand. Just address the components of a lease/option, which they do understand. Hi Doug hope your holiday was great. It seems you have had similar to experiences as I have had. That was why I decided to ask other NAKED visitors what cards they deal. I am very interested in the results from the posting. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted December 29, 2007 Craig, I have found that if you have to revert to "selling" the concept it's probably never going to result in getting a deal. Explaining and educating is one thing. But hard selling is best left on the used car lot. If after my initial phone conversation and Lease Purchase Advantage flyer, they still are confounded, confused, and cross-eyed, there is nothing left for me to do but move on. Share this post Link to post Share on other sites
<Steve> 82 Report post Posted December 30, 2007 What do other "NAKED BOARD MEMBERS" use to accomplish this hurdle? Steve, should have some good input here because he is a educator... naaaaa MC is the "educator" I am just a student...although an "A" student In my area a few years ago, if you said Rent-To-Own or Lease Purchase you got 'Deer Eyes' looking at you. People didn't know what the heck it was. It was great because it was like owning the market and having the new idea in town. So as I was learning myself, if I messed up explaining the L/O it didn't matter because the sellers didn't know what the hell I was talking about anyway. Of course lease options were around but not like now. The local news paper and others now have "Lease Purchase" in the real estate classified sections, and other national investors and locals have picked-up on lease options here. Now many tenant/buyers use the term Rent-To-Own knowingly and many sellers/investors are trying to do some version of it to lease or sell their homes. Although not the Naked way; so I still have an edge. I don't like explaining and explaining on the phone either. For me cold calls are emails. I like sellers contacting me as there is some level of motivation before having to explain what it is I do. So I market my web site. And before having the web site the Naked Investor Flyer worked also. News paper ads, emails, letterhead, business cards etc. push my web site. My hope is that there is some level of introduction in educating a potential seller with what I do. One of the first questions I may ask is "have you seen 'our' web site." This lets me know how much explaining I will need to do, and if I need to take a deep breath or not. If the seller is confused and initially rejects what I do and I want to get off the phone, I send them over to the web site, where I tell them they can get more detailed information. But really I try to explain what I do while gathering information about the seller and their property. As the conversation goes along and there are no "huhs"? from the seller that's a good thing and a potential deal. If the seller gets hung up on an issue, it's like MC mentioned, it's time to hang up and move-on. Share this post Link to post Share on other sites
Craig 0 Report post Posted December 30, 2007 What do other "NAKED BOARD MEMBERS" use to accomplish this hurdle? Steve, should have some good input here because he is a educator... naaaaa MC is the "educator" I am just a student...although an "A" student Steve, Thanks for the information. I do use the site as a tool to educate but have slacked off on advertising do to the other tools that haven't produced as I expected. Share this post Link to post Share on other sites
Michael Quarles 1 Report post Posted December 30, 2007 My best year was over two hundred transactions and I have to say that my 3rd and 4th questions on my inbound script are rhetorical at best... 3 - Sometimes the only way we can buy the houses we look at is to take over the debt and pay you your equity which means the loan will stay on the house until it’s assumed or paid off. 4 - Sometimes we even buy the house under a lease option… Is that a problem? I ask the questions wanting to get the no answer and I don’t care... Right from the start I present the seller with the idea so when I go out to buy the house I have gotten the no out of the way...And I never explain what those two sentences mean... Our response is “that is a great question and when I come out to buy your house I will explain everything to you that is what you want isn’t it”?Michael Quarles Share this post Link to post Share on other sites
