Seller asking for references...

[joshril 0]

As you all know, I'm new at this... I have a great deal pending with a seller ready to go pending references and background on my company... Not sure how to field this. I guess I just move on to the next one. I have run into this a few times... any advice?

[Jonathan RexfordFL 8]

Have you hammered out the deal yet?

 

If so give him some references.

 

I am sure you have an advisory panel.

 

I am sure you know people that have known you for years that can vouch for charcter.

 

Are you a member of any organizations such as BBB, BNI, Chamber of Commerce.

 

Do you belong to a church.

 

Are you married with a family.

 

The point I am saying is that you can put together a BIO on you real easy. As friends to write you a letter. If you have past business relationships (not real estate related use them also).

 

You are going to be approached by this a lot.

 

Now lets get into the real matter.

 

This person is not convinced that they are not ready to do business.

 

I would call him back or the next time this objection comes up and ask the following "Jack is there a particular reason you want to check references?" and let him answer. Then say Jack, I agree. If I provide you with some great references is there a reason why we cannot do business on the terms we agreed to? If you can't then go dig some more.

 

Asking for references is normal in this business. I give them in any real estate transcation. It is my BRAGG book. Title it :HOW I SAVED SELLERS FROM THE CLUTCHES OF DISPAIR" coming to theater near you.

 

If you don't have a book. Then go get one. Who is your advisory panel? Everyone on this board that has been helping you.

[Guest Diver]

I've been dealing with this issue to. So I provided references about my character. The seller is a loan coordinator and then asked for my SSN. Thats where I drew the line. I'm doing a CA not purchasing for myself. I still get to meet them on Wednesday. We'll see if I get the deal or not. Diver

[Jonathan RexfordFL 8]

I think it also all about positioning. If a seller asked for my SS so they can check my credit report, I will also ask the same so I can determine that they are not behind on there payments. But I have know problem showing my credit report. I have never been asked. References...yes. Credit report. NO!

[Guest Diver]

I don't have a big problem with it and I don't have anything to hide. Its just that I think they were going to more than just a credit check. I like the idea of asking for their SSN if it comes to it. Thanks, Diver

[MichaelC 160]

As you all know, I'm new at this... I have a great deal pending with a seller ready to go pending references and background on my company... Not sure how to field this. I guess I just move on to the next one. I have run into this a few times... any advice?

It's always the new guys being asked for references. And that's probably because you sound new when talking with the homeowner. Get a deal or two under your belt and your confidence and approach will reflect you know what the heck you're talking about.

You can use some of Jonathan's ideas, or you can be upfront and tell the homeowner you're fairly new at this, while at the same time convincing him he will be a happy homeowner when all is said and done.

 

 

Oh, and for the wiseguys that ask me for a complete background check, credit report, SSN, etc. Not a chance. I'll give them the name and number of homeowners I have done business with, but that's it. If they need more than that, they're letting me know early on they are going to be a pain in the ass to work with. Don't need the aggravation. I'm already married with children.

[joshril 0]

As you all know, I'm new at this... I have a great deal pending with a seller ready to go pending references and background on my company... Not sure how to field this. I guess I just move on to the next one. I have run into this a few times... any advice?

It's always the new guys being asked for references. And that's probably because you sound new when talking with the homeowner. Get a deal or two under your belt and your confidence and approach will reflect you know what the heck you're talking about.

You can use some of Jonathan's ideas, or you can be upfront and tell the homeowner you're fairly new at this, while at the same time convincing him he will be a happy homeowner when all is said and done.

 

 

Oh, and for the wiseguys that ask me for a complete background check, credit report, SSN, etc. Not a chance. I'll give them the name and number of homeowners I have done business with, but that's it. If they need more than that, they're letting me know early on they are going to be a pain in the ass to work with. Don't need the aggravation. I'm already married with children.

 

This was one of the first sellers I spoke with last week... I'm sure I botched the presentation over the phone. I have quite a bit working, so it's not a big deal if he decides not to go with me. I'll just lay it out like MC suggests and if he says sure... great... if not... no biggie. Also in agreement that there are too many motivated people to work with to be giving out SS#, DL, etc.

[BEV! 0]

It happens to all of us I guess

 

Speaking from experience, when I was also a newbie, my very first potential deal (one of the builders in my area) asked me for my DL (drivers license) so he could photo copy it.

Of course I've not done any deals and had no idea what the heck I was doing.

I asked him why he wanted my DL? He told me he wanted to work with me on all his brand new houses and give me all their keys and would feel better if he had my DL on file.

 

I didn't like it one bit as it did not feel right.

I walked away and moved on... but I'm glad I had that experience because without that experience I wouldn't had analyzed what I had said to this builder that lead him to feel unsecured with me.

I than realized that I was saying (or not saying) the wright things or doing (or not doing) the right things.

 

I changed my entire verbal approach the next week and have not been asked for references, DL, or SSN from any homeowner since then... I found out the problem was ME. (my approach)

In other words, if you're facing this issue (about references) more than once, then you may want to change your approach. (what you say, how you say it, etc)

 

Ironically though, I had a homeowner (FRBO) asked me for references not too long ago :-)

About 3 yrs ago... here's a script of how the conversation went somewhat... (yes I have plenty of homeowner I've dealt with but...)

 

FRBO: Your idea is fantastic, but do you have any references of homeowners you have dealt with?

BEV: I have helped TONS of homeowners in the past few years.

 

FRBO: Great, could you please provide me with their names and phone numbers so I can call them?

BEV: Mr. Saheed, as much as I love to do that for you, I won't be able to do it.

 

FRBO: Really? Why not? You either have them or you don't. Why can't you give me their info?

BEV: Because I "respect" other people's privacy and am not about to spread their private info around to all who ask for it.

You can either respect that as well or not respect it and just walk away. As simple as that.

 

FRBO: Can you have some of them call me then?

BEV: Sure, but what's in it for them?

 

BEV: Mr. FRBO, think about it, if you were one of my past customers and I would spread your personal info to every individual whom asked for it, how would you feel?

Or if I were to call you several times a week for you to call a prospect customer of mine for references, how would you feel? Would you do it? What's in it for you?

 

FRBO: True! I never thought of it that way, but you're right

BEV: And besides, you're not paying me a dime to help you save your house.

 

------------------------------- the end

 

My recommendation would be to create a website with all your past deals and add it to your biz card or marketing materials so prospect can refer to it if they want to see references (without personal info of course)

 

Good Luck,

BEV!

[MichaelC 160]

BEV: And besides, you're not paying me a dime to help you save your house.

And therein lies the key.

[Jason (AL) 1]

Speaking from experience, I can say I've never been

asked for references...even when I first started.

 

I agree with the others. If you sound like a newb, then they're going

to treat you like a newb.

Know your niche inside and out, and also know what it

is you're wanting to achieve.

Also, have the perspective of what you're offering is going to

help your sellers and they'll be better off in the end

by dealing with you as a result.

Never done a deal, you say?

Three secret words to help you overcome this:

Act as if...

(This also works with the ladies as well. )

 

Besides, if a homeowner is pressing you for personal information,

then they're not motivated enough to deal with.

Someone that actually needs your help will view you as their

knight in shining armor ("armour" for the Canucks) and could care

less about pity stuff.