Now that you’ve decided to give Real Estate Investing a try and you’ve chosen your geographical territory to target, it’s time for you to start talking to sellers and ask them to sell you their house. Remember, ATTRACTING MOTIVATED SELLERS is an art and a science. The most important thing you must master is to learn how to solve problems for homeowners. Once you realize that buying real estate is a people business not only a business about real estate. It’s a people business first then the bricks and mortar of real estate.
ANSWERING THE PHONE
Now that you’ve chosen your list and your marketing message, it’s time to man those phones and be ready once the phone starts ringing. Remember, the reason for marketing is to make the phone ring. Once the phone rings, it’s important that you or someone on your team is available to answer it. Once you answer the phone, you have a few short seconds to win the caller over so you have to be prepared and able to convince the caller that you are interested in their situation and want to help them. People don’t care about you, they care about themselves so you have to be sincerely interested in them!
2 Part Negotiations
Before you can ever ask the seller to sell you their house, you have to identify a few key factors. The first one is to find out why they are selling. When they would like to close. Only after that do you want to ask how much they would like to sell the house for. The two most important elements of buying houses and dealing with sellers, in my opinion, is finding out their level of motivation and if there is equity in the property. I like to use this question, “On a scale of 1 to 5 with 5 being the most motivated, how motivated are you to sell your house in the n3xt 30 days?” If the homeowner is not a 5 or 4 then you will have an upward battle in buying their house.
Now that you have the list of 500 absentee owners with properties that have high equity in your target market, it’s time for you to decide what marketing piece you should use to grab their attention. Since you know that none of these owners actually live in the property that you are targeting, you should tailor your marketing message to them specific. For example, in your marketing message, let the homeowner know that you make the process of selling their home easy and hassle-free. You allow them to sell their home without doing the necessary repairs or renovations that they would need to do in preparing the house for the market to a retail buyer. You will buy the property as-is and they don’t have to paint it, put in new flooring or major systems such as a new water heater or new furnace or air conditioner or even a new roof.
BUY SOME HOUSES
Now that you’ve decided on who you’re going to mail to and what you’re going to say and Motivated Sellers have started calling you. You just realized that you only have enough resources to buy one or two houses! But the Motivated Sellers are still calling you, now what? Do you stop your marketing campaign? Heavens no! One of the best things that can happen to you is that you’ve attracted more Motivated Sellers than you can handle. That is a great problem to have! Just call me and I will show you how to turn them into money! No kidding aside, once in a while I come across a real estate investor who is so good at attracting Motivated Sellers that they stress out because they can’t handle that many deals. If this happens to you, realize that you’ve found your expertise and stick with it. Next, hitch your wagon to someone like me who is really good at putting the deal together. Go to my website at www.DarBuysHouses.com and click on FREE CONSULTATION and book an appointment on my calendar to discuss how we can partner together in the business.