Don't Know What To Say To Sellers? Use A Script!
By: Omar J.
Submitted: 04:27AM on Wednesday 24 September 2008
The author has permitted the reprinting and redistribution of this article.
To ensure your success as a real estate investor you must be prepared to deal with sellers. The bottom line is you must know exactly what to say to them to get the appointment and you must know exactly what to say to them to close deals. In addition, when you are faced with objections from sellers you must have logical confident responses that will lead to the close and ultimately the deal.
The best way to prepare to deal with sellers is by using scripts .Having something to follow can be greatly beneficial for your confidence and your poise. The most common way to do this is to sketch out an outline for your situation. What are the main points you want to hit, and what do you need to cover? This is a great way to help keep your thoughts organized and a great way to eliminate fear. Following a script also keeps you from getting "tongue tied" because you don't what to say or forgot what you wanted to say. In short, A real estate script keeps you on the right course.
As a real estate investor you should have a set of scripts handy that cover every possible situation that you might encounter with a seller. Once you have those set of scripts you must practice, practice and practice some more because it is the key to becoming a master communicator.
A great way you can practice is by utilizing family or friends. They can pretend to be the seller and you can play your investor role of wanting to obtain their property. Your comfort level with people you know should ease your anxiety.
In addition, your repetitive rehearsal will allow you to become more confident in communicating your message and your delivery will dramatically improve and become ingrained in your sub-conscious mind. As you practice, everything will become second nature to you like reciting your ABC's. This will allow you when you are talking on the phone or meeting with an actual seller in person to be naturally automatic in your response to questions that the seller may ask you. It will also allow you to be automatic when posing your own questions to the seller.
The following is a script of what to say to a seller who is a frustrated landlord.
Seller: Hi my name is Pete and I am responding to a letter sent to me in regards to buying my property located at 1313 Mockingbird Lane.
You: Hi Pete, my name is Omar and thanks for responding to my letter to you. Let me explain to you exactly what I do. I am a real estate investor who buys houses creatively by offering win win solutions to property owners. I have the ability to close quickly because I don't need a bank to buy your house. This eliminates any and all hassles. Can my service be of use to you?
Seller: Yes, because I'm looking to sell my house fast.
You: If you don't mind me asking, why are you selling your house?
Seller: Not a problem. The reason why I am selling my house is because I am tired of being a landlord. It's a two-family house and the 2 tenants who are renting the place for the lack of a better word suck. So I just want to get rid of the place.
You: I understand and as a former landlord I can totally relate to your situation. Sometimes you rent to tenants who decide they don't either want to pay rent or if they pay it they decide not to pay on time which poses problems.
Seller: Exactly, plus I'm tired of making repairs to the place because it puts me in the hole.
You: Speaking of repairs how much repair costs do you think your house needs?
You: What do you owe on the house?
Seller: That's really a personal question.
You: I buy on average 40-50 houses a year using various methods. I'm probably the most serious buyer you have talked to yet. The bottom line is to make you any type of serious offer on your house I need to know the facts. Will this be a problem for you?
Seller: No, I owe $180,000
You: What is the appraised value of the house?
You: Will you allow me to buy your house by taking over the payments?
Seller: Yes, as long as I am able to cash out some of my equity.
You: I don't see any problem with that. Are you ready and prepared to fill out the paperwork to get it done today.
You: Ok great! Let's set up an appointment so that I can see the house.
"THE ARCHITECT OF YOUR DESTINY IS YOURSELF"
"SUCCESS WALKS HAND IN HAND WITH FAILURE"