OfflineOk, so I just put my first add on craigslist looking for buyers and sellers. I am not sure if I did it right, but I haven't gotten my call back from the Academy yet and I have to do something.
My question is this. I am really nervous because I just put an ad up and I don't have a plan after that. Does anyone know where there are some Buyer / Seller First Contact scripts? It doesn't even have to be a script, just the specific questions that I need to ask to get them prequalified or to find out if it is a deal I may want.
Any other tips from this point would be greatly appreciated!
Thanks in advance!
Jack
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Great question. I'm going through the same thing. Feel a little dumb, didnt know what to put in the ad? what do you say?
Hi Jack,
If you hunt around this site you will find all kinds of useful info. This is an old post that was recently re posted by sistreat, hope this will be helpful for now and I am sure that you will gets lots of good advice from others on the site too.
Angela
Don't Know What To Say To Sellers? Use A Script!
By: Omar J.
Submitted: 04:27AM on Wednesday 24 September 2008
The author has permitted the reprinting and redistribution of this article.
To ensure your success as a real estate investor you must be prepared to deal with sellers. The bottom line is you must know exactly what to say to them to get the appointment and you must know exactly what to say to them to close deals. In addition, when you are faced with objections from sellers you must have logical confident responses that will lead to the close and ultimately the deal.
The best way to prepare to deal with sellers is by using scripts .Having something to follow can be greatly beneficial for your confidence and your poise. The most common way to do this is to sketch out an outline for your situation. What are the main points you want to hit, and what do you need to cover? This is a great way to help keep your thoughts organized and a great way to eliminate fear. Following a script also keeps you from getting "tongue tied" because you don't what to say or forgot what you wanted to say. In short, A real estate script keeps you on the right course.
As a real estate investor you should have a set of scripts handy that cover every possible situation that you might encounter with a seller. Once you have those set of scripts you must practice, practice and practice some more because it is the key to becoming a master communicator.
A great way you can practice is by utilizing family or friends. They can pretend to be the seller and you can play your investor role of wanting to obtain their property. Your comfort level with people you know should ease your anxiety.
In addition, your repetitive rehearsal will allow you to become more confident in communicating your message and your delivery will dramatically improve and become ingrained in your sub-conscious mind. As you practice, everything will become second nature to you like reciting your ABC's. This will allow you when you are talking on the phone or meeting with an actual seller in person to be naturally automatic in your response to questions that the seller may ask you. It will also allow you to be automatic when posing your own questions to the seller.
The following is a script of what to say to a seller who is a frustrated landlord.
Seller: Hi my name is Pete and I am responding to a letter sent to me in regards to buying my property located at 1313 Mockingbird Lane.
You: Hi Pete, my name is Omar and thanks for responding to my letter to you. Let me explain to you exactly what I do. I am a real estate investor who buys houses creatively by offering win win solutions to property owners. I have the ability to close quickly because I don't need a bank to buy your house. This eliminates any and all hassles. Can my service be of use to you?
Seller: Yes, because I'm looking to sell my house fast.
You: If you don't mind me asking, why are you selling your house?
Seller: Not a problem. The reason why I am selling my house is because I am tired of being a landlord. It's a two-family house and the 2 tenants who are renting the place for the lack of a better word suck. So I just want to get rid of the place.
You: I understand and as a former landlord I can totally relate to your situation. Sometimes you rent to tenants who decide they don't either want to pay rent or if they pay it they decide not to pay on time which poses problems.
Seller: Exactly, plus I'm tired of making repairs to the place because it puts me in the hole.
You: Speaking of repairs how much repair costs do you think your house needs?
Seller:About $20,000
You: What do you owe on the house?
Seller: That's really a personal question.
You: I buy on average 40-50 houses a year using various methods. I'm probably the most serious buyer you have talked to yet. The bottom line is to make you any type of serious offer on your house I need to know the facts. Will this be a problem for you?
Seller: No, I owe $180,000
You: What is the appraised value of the house?
Seller: $220,000
You: Will you allow me to buy your house by taking over the payments?
Seller: Yes, as long as I am able to cash out some of my equity.
You: I don't see any problem with that. Are you ready and prepared to fill out the paperwork to get it done today.
Seller: Yes
You: Ok great! Let's set up an appointment so that I can see the house.
Hi serena,
Post a new thread (forum topic) with a title that relates to your question such as "What ads have worked for you?"
Many members have shared successful ads in numerous posts and I cannot remember where all of them are.
It is useful if you need help to put a new topic title out there that members can see and respond to. FYI, if you ask a question in another thread such as this one it might get missed altogether!
Also, if you post late, your thread might get lost overnight and the folks who could give you the best advice might miss it altogether. Post a new topic forum in the morning if you can.
That, 'feeling a little dumb' thing lessens a little every time you come and read the wealth of info on this site.
At the top of the left column on this site there is a search / enter box, try typing in things you want and see what you get. (Play around with it).
Good Luck!
Angela
Thanks for the info guys! Anyone else have any super great tips or something that works for them for buyers and sellers?
The info here is really good. I like the advice here. Keep up the good info.
"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote
???
Scott
Could you point me in the direction of scripts to record when potential buyers are calling off your ads? I would rather record the script and select the prospects that seemed the most serious about owning their home so that a lot of time is not wasted in call backs.
Also, do we need to use "weasel clauses" with the lease/option in case we can't find a buyer for the newly purchased property within a reasonable amount of time? I know you can agree up front to postpone your first payment for 1 to 2 months (with sellers approval, of course) but I don't want to purchase the home if a buyer is not available so I need an exit stategy.
Can anyone expound on these questions?
Thanks,
Rick
Rick Hagood
Ram Investments
Residential Investments
wefindhomes4u@****
What you need are the basic questions.
Whom am I speaking to? Then inroduce yourself also. May I have your phone number? Also do you have an e-mail address? Then just let them know. " I need to ask you a few questions about the home ok".
1) What is the address of the home
2) How much do you owe on the home?
3) How many payments are you behind?
4) Is there a second mortgage.
5) How long have you owned the home?
6) What is the condition of the house?
7) How much do you think it would cost to renivate it.
9) When is a good time to come see the home.
These are just some of the questions to ask. Pretty basic. All the while show a little empathy but dont over do it. Hope this was helpful.