Want to know how to make $10k per hour? - Posted by JoeKaiser
Posted by JoeKaiser on February 20, 2002 at 06:23:07:
The last thing you need is a “letter” to make an offer. Good grief. What you need, Chris, is an appointment.
Meet the seller. Let him see that you are a real person, someone who is trustworthy and can be depended upon to perform as agreed. Let him get to know you and size you up. If you’re halfway good at this, in twenty minutes (I’ve timed it) he’ll have decided that he likes and trusts you and if you’re really good at this stuff, he’ll show you how to fill out the forms.
When he tells you, “you remind me a lot of me when I was your age,” he’s either (1) ready to give you the keys, or (2) about to take you for everything you’ve got.
Hopefully, it’s the former. When you’re new, it’s sometimes hard to know.
In either case, a meeting is ten times more powerful than a letter. Sellers will agree to things after having met you that they would never consider in a letter. In the meeting, you can tell them why you’re doing it this way, you can answer questions, address their concerns and dare I say . . . negotiate. A letter is a negotiation, I know, but it’s not a very good one most of the time.
The money in this business is made seated at their kitchen table doing the deal, not at your’s typing up letters of intent.