So how are we going to get ready to have a conversation with our motivated sellers? I believe that readiness is a state of mind, and I have put together some ideas for you designed to help you have meaningful and successful conversations with motivated sellers resulting in profitable deals.
First of all, expect to be anxious and know that it’s okay to be anxious. You probably wouldn’t be very good at what you do if you didn’t care about the outcome.
Next, while you are feeling anxious, get in front of a mirror and practice what you are going to say to the seller. Do this more than once. The more you practice what you are going to say, the more comfortable you will be and therefore less likely to forget what you were going to say. Practice controlling your voice and be mindful of how fast you are talking. Your speech should be at a moderate volume and speed when speaking to a seller.
Remember to breathe! Practice what you are going to say all the way through without making faces, gasping or throwing out any expletives. Your seller doesn’t care if you’re speech is perfect, they just want to know what you can do for them to help them solve their problem. You might even want to practice what you are going to say in front of a spouse or close friend.
Remember that your sellers are people, just like you. They are probably just as anxious about having a conversation with you. After all, selling their home is a big decision, even if they are ready and know they need to sell.
Expect the unexpected. Maybe the seller will accept your offer right away. Maybe they won’t like your offer at all. You really should have some idea of how to approach this based on the prior conversation you should have had with the seller on the phone. And remember the more motivated the seller is the easier this conversation will go.
Also remember that all of these techniques can be applied to the conversations you are having by telephone with your motivated sellers. In fact, once you get good at conversations with sellers on the phone, many times the deal will be cemented even before you end up face to face with a seller. Also be prepared to sit on a couch as opposed to being at a table so bring something hard to write on, like a clip board or a briefcase. If you need to wear glasses don’t forget to bring them with you. If you are bringing a briefcase, stick a flashlight inside. I have had several instances where I’ve had to fill out paperwork in semi-darkness and a flashlight is a big help. Just learn to expect the unexpected.
Be sure and establish a ritual to get ready to speak to sellers. Make sure you have all your facts and figures straight and make sure you have all the paperwork with you that you could possibly need to cover a variety of scenarios. The more professional you look, the more comfortable the seller will be working with you. Be sure and let your seller know ahead of time what paperwork you need from them as well like a deed or mortgage paperwork.
The easiest and best way to get comfortable working with sellers is by making more offers and doing more deals. Develop a positive attitude and philosophy about making offers. Don’t take it as a personal rejection if the seller doesn’t accept your first offer. They may accept a subsequent offer, maybe not. But remember if you had a conversation and pre-screened the seller on the phone you already have a pretty good idea whether or not they will accept your offer.
But do you know what I have to say about this? There is always another seller waiting in the wings who really wants to work with you and if you are dealing with the right kind of sellers at the beginning, you will make more deals than not. So get out there, make some offers and do some deals!!
For more information on tools to find all the motivated sellers and lenders for the Real Estate Investor, be sure to visit Kathy Kennebrook’s website at www.marketingmagiclady.com.