Posted by JPiper on April 02, 1999 at 13:41:50:
Imagine my delight at having learned a new sales technique…“plucking a nose hair out, just to create a real tear in the corner of one eye”. Thanks for a good belly laugh.
JPiper
Need help in reaching motivated sellers. - Posted by Thurman
Posted by Thurman on April 01, 1999 at 23:06:19:
I have been using Ron Legrand’s “I buy or lease houses” ad in newspapers in five counties for the last two weeks and the responses has been great. However, none of them have been truly motivated sellers. Their mindset is cash, cash, cash and nothing but cash at or near fair market value!
I believe Ron’s ad is a good ad, however, I would like some suggestions on ways to attract the motivated and flexable sellers and/or ways to cut down the calls from non-motivated sellers.
Thank you for your time and consideration.
Thurman
bmcnew@gvc.net
Re: Need help in reaching motivated sellers. - Posted by Bill J. Gatten
Posted by Bill J. Gatten on April 02, 1999 at 13:29:19:
Thurman,
The obvious answer to your question would be to have you suggest to your respondants that they could refinance for the maximum amount, and carry the remainder for you in a low interest rate note. However, there’s a little more to it than that. A simple matter of “The Psychology of Selling.” Remember that everything you say and do, should be for the benefit of the seller, not yourself (as far as they are concerned). They don’t want to help you… they want you to help them. That’s why they called you.
In a converstion I had with some CREO folks at a training session yesterday (Brad Crouch, Jim Pruitt, Steve Love, Ed Krenz, Tony Brunner… and some assorted RE Agent converts who’ve decided to go straight and own RE instead of just selling it), I suggested that instead of proposing that a seller should go to a lot of trouble to facilitate YOUR easier purchase: it would be far more effective to pose the same issue in a manner that connotes YOUR going to a lot of trouble for the benefit the seller. I.e…
“To be honest with you, Bob–under your particular circumstances–(drip with sincerety and itegrity here… sometimes I pluck a nose hair out, just to create a real tear in the corner of one eye) I’d really suggest that before I get involved at all, you go ahead and refi the property on your own for as much as your can get. Then…when I take over your payments (“your” payments, not “the” payments), I’ll be covering the higher amount for you (the “for you” part is important).”
Then when they say: “Yeah, but what about the rest of the equity? They’ll probably only go to 80% LTV or so.” You pause a moment, sigh, and say, “Well, that shouldn’t be a problem either: I can go ahead and pay that to you at, say, 8% per year, for a year or so: though, to be perfectly honest, I’d really like to pay it off sooner.”
Works for me. Hope it helps in your efforts. Keep us posted.
Bill
Re: Need help in reaching motivated sellers. - Posted by rudy
Posted by rudy on April 02, 1999 at 07:59:53:
You need to follow ron’s instructions and follow up,next week, next month, next year, the ones you will eventually buy will sell to you when they get motivated NOT when you are. Offer to help them sell and take and option for 10%or less than retail…rudy-austex