Posted by Jimbob on December 13, 1999 at 15:50:53:
JVC,
How about putting yourself in the sellers shoes? Ask yourself before I would let someone I don’t even know take over my property, what kinds of re-assurances would I want to hear? What would really make me feel at ease letting this person take over my house?
Such as: Landscaping, painting, general cleaup, re-carpeting, marketing, and selling the property within 1 year (the less time you have control of the property, the less risk for everybody).
Also, when the market is hot, sellers don’t need to cater to people with no money, if you bide your time, keep studying and asking questions, when the makets cool down, you’ll be ready to make your move.
I’ve been farming the expired listings for most of my L/O leads and have received a fairly good response…But, I’m still a rookie, and it seems that as soon as the sellers discover that I won’t be living in the home myself, they’re turned off. I realize that I need to improve my presentation, and with practice and time I will, but in the meantime, it kills me to have these opportunities slip away…would appreciate any tips, etc. from the experienced ones…
Posted by Leo Quinn on December 14, 1999 at 05:28:26:
Hello JVC:
I haven’t been at L/O’s long enough to be discouraged but when I get around to calling owners, I am going to be upfront…“I am an investor and through my advertising I now have at least 10 buyers who might be interested in purchasing your home on a rent to own basis. Would you be interested in discussing this?”
At least this way if they say no…it’s at the beginning before you have wasted a lot of time.
In my case I actually have about 25 people who responded to an ad and who have money for option consideration among other redeeming qualities (I hope). I’m now on the hunt for sellers open to L/O’s.
Posted by JoeB(Atlanta) on December 13, 1999 at 18:35:09:
When I was new to doing presentations I relied more heavily on a “credibility kit” I put together, which I showed to the Sellers at presentations.
It has:
*buyer/seller testimonial letters from our customers (we always ask for those),
*my credit report,
*my “affiliations” (local Chamber, Better Business Bureau, local Real Estate club, etc.) and “team” (attorney, CPA name/phone),
*list of references (past buyers/sellers) they can call
*some articles that have been written about me in the local papers
*explanation of what will happen during/after purchase or LO
*“Special report” on benefits of LO
Hope this helps, seems to overcome seller resistance lots of times.