Posted by Steve B (MA) on January 26, 1999 at 17:07:36:
The first thing I ask the owner in our conversation is to simply tell me a little about the property. I am listening for key points such as: (1) we inherited the property and want to get rid of it because its too much trouble for us; (2) we are looking to move and need to sell asap; (3) we just got a divorce and need to split up the proceeds asap; (4) we are falling behind on payments and need to move to a more affordable property; (5) we want out of the property and don’t care about making money on it.
The above are all signs to me of motivated sellers. The unmotivated ones will get around to saying they are in no rush to sell it and want to get as close to market value for their property. These owners are better off putting it on the retail market because their is no profit for me in even meeting with them.
Ask a lot of questions; don’t waste your time on the unmotivated sellers; and don’t worry about getting a lot of calls that don’t sound profitable – the good ones will come.
Email me if you have any other questions.
Steve B (MA)