Posted by David P. Butler America’s Note Network on March 11, 2000 at 18:13:21:
Hey Messerb,
I believe they still offer it right here on this site, but if you can’t find it there, email me privately and I’ll give you another reference point.
Thanks for asking, and hope this helps.
David P. Butler Vice President, Broker Relations
Over qualifying the sellers? - Posted by Richard
Posted by Richard on February 27, 2000 at 24:50:00:
Hello,
I have many ways that I find leads, they usually start on the phone. I am having no hard time finding people that are motivated, but when I ask them if they want to get involved in any kind of a carry back or what they would take if I could bring in all cash they innevitably make it clear that they do not want too cooperate. My question is:
Am I making it to easy for the sellers to say no, and is motivation alone enough for me to drive out to their house (granted they have what I am looking for…equity, the right payment amount etc…).
I am afraid that I am loosing out on some deals.
I am not really looking for a script, just some help on what the main objective of the call should be…
Thank you all for any experience you may relay.
Richard
Re: Over qualifying the sellers? - Posted by David Butler America’s Note Network
Posted by David Butler America’s Note Network on February 27, 2000 at 13:46:26:
Hello Richard,
In reading your first paragraph, it appears your thinking might be a little bit backward here. You say you are finding plenty of “motivated” sellers but no cooperative ones. By definition, motivated sellers are cooperative sellers.
However, motivation, by itself, does not insure that a deal can be made, because all sellers have needs. Most of them also have “wants”. Your objective at the outset is to try and ascertain their needs, separate the needs from the “wants”, and create possible solutions THAT WILL SATISFY THEIR NEEDS. Then you have to “sell” your solutions.
Keep in mind that a solution will rarely work unless it solves a problem for the seller. Really, sellers could care less about your needs. So, the ball is always in your court when it comes to finding solutions that give you want you want - at the same time you give the sellers what they need.
It is helpful to keep in mind that much of the time, even in desparate straits, many sellers are focused on their “wants” rather than their needs.
A lot of that is due to the fact that people tend to react emotionally rather than logically in terms of understanding what their real problem is.
That is where your challenge lies. You have to find a way to build rapport to the point where you can help them identify their problem(s), and then work into educating them about the possible solutions.
You’ll be doing good if you can get to the point that you can close on one of the ten propects you bring to that point.
Depending on your local demographics and economy at a given point in time, it may take you 20 calls to get one prospect - other times it may take as many as 100 calls to get one prospect. Things change by the day, so all you can do as far as getting prospects is continue to make the calls.
A big part of your success is going to come through educating your prospects - but to make this process work for you, you can’t spend a lot of time trying to educate someone who isn’t motivated, so your first objective is to identify as quickly as possible those who are truly willing to listen to possible solutions - and then put yourself in their shoes.
By the way, a very good book on the subject is OWNER WILL CARRY, by Bill Broadbent. Bill has been doing this for about 40 years now, and he is well known and respected throughout the creative real estate industry.
Also, in addition to some good information right here on this site, you might want to click on our banner above (not American Note’s banner), and look through our library of articles on the subject of owner carrybacks.
Hope this helps, and best of luck.
David P. Butler Vice President, Broker Relations
“OWNER WILL CARRY” book - Posted by messerb (Atlanta)
Posted by messerb (Atlanta) on March 11, 2000 at 17:51:52:
David,
Thanks for the recommendation of your website and the book “OWNER WILL CARRY” by Bill Broadbent. Do you know the author and how I might get a hold of him? I’d like to buy his book. Amazon.com does not carry it.
Thanks!
Re: “OWNER WILL CARRY” book - Posted by John Behle
Posted by John Behle on March 14, 2000 at 22:11:56:
I don’t see the book here, but you can get it at the noteworthy site. I recommend it highly. It’s at: http://www.notetools.com/books.html