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How to Build Rapport with Motivated Sellers

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First Thing’s First … you need to have a good impression

When it comes to buying directly from a seller, there are few skills that are more important than being able to build a relationship with that seller.Yes, you need to find a suitable list to market and write a good copy (check out Sharon Vornholt’s great article for tips above) list When What to write). But one thing you certainly know is that no one is going to sell it to someone who fundamentally dislikes it.

Many people, and perhaps most people, will deliberately hurt themselves if that means they can avoid benefiting those they dislike. It even has a term, Altruistic punishment.. Moreover, even without a realtor, every seller knows that even if you give you a reason to sell (especially at a low price), it will directly benefit you.

There is no neutral third party here. Because of this conflict of interest, you are essentially unreliable as a buyer. You will need to gain the trust of the seller by doing what you say you will and by not utilizing the seller. This is a hassle. But believe me, it’s an effort worth investing in.

But first and foremost, we have to start with a list that Tim Ferriss shouldn’t do. Became popular..

To-do list

1. Bark out the offer

They say you offered too much if you weren’t embarrassed by your first offer. In many cases this is true. However, if you are dealing directly with the seller, the immediate low-value offer will be dismissed as arbitrary and perhaps rude.

The seller is not going to give you time if you are not building trust and / or making your claim as to why a discount is needed. If you’re just making an offer with a random REO (real estate ownership), it’s certainly okay to just make an offer. However, if you want to deal directly with the seller, you need more sophistication.

2. Use high pressure sales tactics


No one likes to be on the receiving side of high-voltage sales tactics. Salespeople who use the “clock ticking” sales method, or who always use the main question, are not fun to deal with. So don’t be one of them.

These suspicious moral tactics tend to clam sellers. I often said, “A confused heart says no.” But so is the over-pressured mind. In addition, these types of tactics are also the ones most likely to lead to regret. Seller’s remorse exists in the same way as buyer’s remorse.

Perhaps you can get real estate under a contract with such high voltage technology, but don’t be surprised if that same seller tries to wiggle their way out of the contract the next day or week. And maybe you can go ahead and execute the contract. But it doesn’t stop the seller from leaving your company from bad reviews or telling others not to work with you. And keep in mind that your reputation is more important than any transaction. In any case, who wants to deal with all those headaches?

3. Talk to home

We want to make our claim as to why a property should sell cheaper than the seller wants, but one of the worst things you can do is slander the property and make this claim. Is to be. The problem is that while you mean this criticism harmlessly, it comes off as an insult. Many people have their own homes. This is especially true if they live there and it is not their rental or inheritance. And if they did their job, that’s even more true.Most do-it-yourself not good.. But it’s never a wise idea to tell them.

Related: Three Motivated Sellers (& How to Solve Problems and Win Transactions!)

Talking about properties is basically insulting the sellers on their faces. “Why are you willing to live here on earth? Do you enjoy a dirty life?” Or “Wow, you rented this place! You have to be a slum road. “Or” So you must be broken and have no money to fix something. That’s embarrassing. “You understand the idea.

The following describes the correct way to create a case when migrating to a to-do list.

To-do list

1. Accept Smalltalk

It may sound simple, but it doesn’t underestimate the importance of telling a small story. In one of them, “Why did they pay to study what everyone already knows?” Study, Researcher found People are more likely to trust the person they like. As Big Think says, you “morally elevate them.” And no one will like you until they talk to you. So talk to them!

surely, I took a note In contrast to acquiring 32 apartments a few years ago, “… whenever I got to the same room as him, I was there for at least two hours.” When buying a house, such a conversation is probably No need, but the longer he spends with the seller, the more he likes us and begins to believe that he will somehow sell us real estate.

If you don’t know how to start or continue a conversation, there are many good books.I start with Rail Rounds How to talk to anyone.. That said, the best place to start is to ask, “How was it today?” Then see if things take off from there. Be sure to ask a free-form question so that the seller can elaborate.

Another good tip I found from charisma on Command’s amazing Youtube channel is “Human Google”.As He puts it“[Take] Maybe with all those questions we might go to technology, or maybe we wouldn’t speak out [ask] People around us, especially those we don’t know … “

In this case, take any question you have about the house, or the picture they have on the wall or anything they mentioned when they passed by (it’s not controversial) and ask the seller about it. Please ask. That should start the conversation. Then, after about 5 to 20 minutes, I will move on to business.

2. Take a serious interest in others

Virtually everyone can sniff out false compliments and dishonest people. So don’t worry about forging it. It’s important because Dale Carnegie put it so famous in his classic book, How to make friends and influence people, “Please be really interested in others.” If you think about it, there is no reason not to be interested in them. We are a social species and talking to people is generally fun.

Even if the person is uncomfortable, there may be something to learn from them. As Ralph Waldo Emerson famously said, “In my walk, everyone I meet is somehow my boss, and in that respect I learn from him.” The best I’ve met All the investors were enthusiastic learners.

You also need to empathize while you are interested in others. Many of these sellers are in a difficult situation and you need to sympathize with them about it. After all, you are there to provide a potential solution. Sometimes you can even help get rid of the edges.

When I was buying a lot of short-term sales from mortgage delinquents in 2009 and 2010, after that person said they were late, I say “Who are you lately?” .. (This was a time of the financial crisis.) I think this line has removed much of the shame that sellers may have felt and made it easier to negotiate openly.

3. Honestly, but kindly make your case

negotiation

In most cases, you need to make your claim as to why you should sell your property at a lower price than the seller wants. But how do you do this without insulting them, as they are on the “To Do” list? In my humble opinion, the answer is to express everything positively. In other words, it’s not about what’s wrong with the property as it is, but what you need to do to move the property to the desired location.

For example, instead of saying “this carpet is old”, say “you need to upgrade your carpet to get full market value”. The word “upgrade” is a good word, not that something that exists is bad, but that it can be improved.

$ 1 billion is an upgrade from $ 1 million, are you going to complain about $ 1 million? In most cases, the seller is well aware that the carpet is terrible in this example. But just as if you say you’re not good at math right after you admit that you’re not good at math, you’ll feel sick.

4. Don’t get angry

In most cases, your offer will be much lower than what the seller wants. Sellers may get angry with this, but they are likely to be negative and say something like “Oh, I couldn’t be that low.” In any case, don’t be offended or make excuses. “Don’t worry. How low do you think it will be?” Or something like that. If they’re angry with it, it’s probably best not to even ask for a counter. Just be responsive and comfortable and don’t forget that it’s a number game. There will be lots of unsuccessful negotiations, and that’s okay.

Related: Three Ways to Respect Home Dealers During Deal Negotiations

However, it is important to understand that most negotiations have a context in this regard. Negotiations with many direct sellers last quite a long time before you sign a home. A friend of mine actually noticed that none of the transactions he bought directly from the seller came from their first interaction. Most of them come quite later. That’s why it’s so important that you don’t feel uncomfortable when the seller says “no”.

5. Follow-up

As mentioned above, these negotiations are often not resolved in the first lap. Perhaps the seller wants to list the homes for sale by the owner. Perhaps they do, and it doesn’t work, they never approach it. In most cases, the best way to do this is to say “no” and then ask the seller if they are willing to follow up within a few weeks.

Usually they will say “yes” no matter how low your offer is. Then wait a couple of weeks and then call back. Perhaps nothing has changed, but the seller may have a whole new perspective on the situation and be much more willing to accept the negotiations.

Before putting it together, add one last point that may be in either your to-do list or your Not-To-Do list. This is to be open and honest about what to do for life and not to disappoint anyone. Real estate investors can sometimes have a bad reputation because of some bad apples. By not being one of them, it’s much easier for you to convince someone who isn’t one of them.

Being fair with people and telling the truth makes things easier. After all, there’s little to remember.

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What to add to the to-do list and to-do list?

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