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[djbusch 2]

Hi everyone. I'm really enjoying the knowledge being shared here.

 

I have several good leads on homeowners willing to listen to why they should agree to a lease/option with me. The only problem is that I'm somewhat awkward with people, especially on the phone. I've had 3 on the phone in the past week and to date, none have called or e-mailed back. I'm fairly certain my presentation was just plain awful, resulting in losing those 3 potential deals.

 

So what are the magic words on that first call?

[chris1288 0]

Can you elaborate as to what you mean by "awkward with people"? Sounds like you just need more practice so you can polish up your pitch.

[pilot76180 51]

David, the KEY to talking to sellers comes down to two things...well....3 things.

1) Understanding your program

2) Having knowledge to answer all questions with confidence

3) Your general ability to interact with people.

 

When I talk to a seller, I don't care what they ask me, I can immediately respond back with a confident answer and go into detail in regards to mortgage guidelines, or whatever they may be asking.

This does take some time and practice.

If you answer with hesitation you could ruin the deal.

Also, if you aren't comfortable talking to people anyway, it makes it very very tough.

[MichaelC 160]

David, there is no education like experience. You might need to push yourself outside your comfort zone to get past the hurdle of speaking with homeowners. (By the way, most newcomers to this business share your anxiety about this.)

Don't put so much pressure on yourself, either. Have a conversation and if it doesn't go as planned, review what you did and didn't do well. Learn from that and try again. Truthfully, there are no "magic words". You need to built trust and confidence with someone for them to want to do business with you.

[<Steve> 82]

David, I was the same way at the start. To help I marked the pages of the naked investor manual with post it notes so I could remember what information I needed to ask during the conversation and how to briefly introduce my business to the seller. You just have to be yourself and talk about their property. Get the seller talking and you listen. Jump in and ask a question of something you need to know. Go as far as you can with the call and if you mess up, the next call you will be able to take it further. After a while it becomes memorized and second nature. Do you have the manual? I think it is a great reference just for this reason.

[pilot76180 51]

When I first started I did what most newbies do...I overloaded the seller with info!

I tried to give them all of the info I knew about lease option and why it would benefit them, and it overwhelmed them.

Just give them some basic info and you'll get your grove.

[djbusch 2]

Steve,

 

I don't have the manual yet. I ordered it yesterday and I'm chomping at the bit waiting for its arrival.

 

Thanks everyone for the advice. I'm going to go make those calls, come what may.

 

David, I was the same way at the start. To help I marked the pages of the naked investor manual with post it notes so I could remember what information I needed to ask during the conversation and how to briefly introduce my business to the seller. You just have to be yourself and talk about their property. Get the seller talking and you listen. Jump in and ask a question of something you need to know. Go as far as you can with the call and if you mess up, the next call you will be able to take it further. After a while it becomes memorized and second nature. Do you have the manual? I think it is a great reference just for this reason.

[djbusch 2]

Well I just finished making my calls and e-mails. All in all I only got to speak with 1 seller, but I feel that went well.

 

I realize that schools of thought differ on this - but some of the properties I contacted sellers about are 40+ miles away, and the sellers really seem to want me to come & look at the home before we do any negotiating. Should I just bite the bullet and go look at the house? Or is there a way I can politely guide the seller away from that?

 

And what happens when I get one of these far-away properties signed up and have to market to buyers? It would be a serious pain in the butt to drive 40 miles each way to show the house to a dozen different prospects...how do you guys handle that?

[lhenley 8]

Did you know the properties were 40+ miles away before you called them? I wouldn't travel that far without having the numbers already worked out with the seller.

 

Honestly, I'd market closer to home before I ventured that far out.

 

Lynn (FL)

[djbusch 2]

Did you know the properties were 40+ miles away before you called them? I wouldn't travel that far without having the numbers already worked out with the seller.

 

Honestly, I'd market closer to home before I ventured that far out.

 

Lynn (FL)

 

I knew, but somehow I imagined I could work around that small detail...maybe a tad gung-ho...

[vballdarin 1]

Hey there David...

 

DO NOT try to go look at every house. You then become a Real Estate Agent-type-person. (Unless you have a bunch of free time and don't mind driving all over creation) One of the things I would tell people is that I'm NOT a real estate agent and that if we can't agree on some basic numbers to see if YOUR house is a good fit for MY program, then it doesn't really make sense for me to have you spend your free time showing me your house since I'm not going to be the one living there anyway. After we agree on everything or after you've signed the paperwork, then (if this is how you're going to do your business) I'll take some pics and get to know the layout a little better.

 

As our fearless leader (MC) would say.... "That's why it's called a COOPERATIVE Assignment". Unless they are willing to cooperate with us in agreeing to the numbers and in showing the house since it's so far away, then there's nothing we can do for them. WE have the KNOWLEDGE and the KNOW HOW.....they have the house. If they want us to do all the work....they need to make the numbers better for us to make it worth our while. Otherwise, let them keep making payments on their empty house for another 6 months. (I've learned NOT to bend over backwards for sellers. My spinal column only goes in one direction and it wasn't made to go backwards.)

 

Hope that helps out a little.

 

Darin

[Jonathan RexfordFL 8]

David,

 

After reading your posts, I since one word "FEAR" Nothing wrong with it. Just turn it to your advantage. In this business it is all about gathering information and prescribing a dose of medicine for a seller.

 

When a Seller throws out an objection it is usually either a lack of trust or they just don't know. Having your presentation and delivering it in 30-60 seconds is key over the phone. What you can do is work on your delivery. Practice with some objections and make your own delivery your OWN words. It will come off as having a conversation with an old friend. People have posted common objections here on the website.

 

Don't get too much into Scripts. Remember it is just you and the seller. The Seller is the one with the problem and if there where magic words to say, you are the one with the Magic Pill.

[pilot76180 51]

Before you go see the house, I would make sure the figures work for the seller. E-mail the figures to the seller and see if they work.

I have sellers ask me "Don't you want to come see the house first?"

I explain that as long as it is in good condition and not in need of repairs, I don't need to see it, and my rep will be the one taking the pictures anyway.

I try to focus on a 30 min drive time radius myself, and normally less than that.

Get the seller to understand and see if the #'s work, then go from there.

I'd also see if you can get pictures of the house to make sure it's not a lean-to before going out there.

[MichaelC 160]

I agree with the above, David. It makes no sense for you to be running around the county, looking at properties whose owners aren't interested in a lease purchase. Who cares if the kitchen is pretty and the fruit trees are in bloom? You're only concern initially should be whether or not they are agreeable to a Cooperative Assignment and whether or not the numbers work. No need to see the house to determine this.

If they are open to the idea and the numbers are realistic, then it might be worth your time to have a look. And if the property is 40 miles away, you're going to need to work out an arrangement for the homeowners or someone else to show the house for you. It isn't time efficient for you to be driving over there everytime a prospective t/b wants a look.