To close more deals with motivated sellers is what the most successful real estate investors are able to do. If you are in the market, hopefully that person who will be benefiting from the closing will be you! The seller may be looking to close quickly for any number of reasons. Among these reasons may be a possible short sale, a probate, a potential foreclosure or a pending divorce, just to name a few. Very often these deals will generate widespread interest and it is those investors able to place themselves in the shoes of the seller that will probably benefit the most. The majority of successful investors typically know how to deal with problems and issues while also understanding how to get the closing done in a quick fashion. You will always find yourself converting more deals rapidly when you master the art of putting yourself into the seller’s shoes. Take a look at five suggestions that will be of great benefit in your closing deals with those sellers that are motivated.
Get A Script Properly Prepared
Just what they are going to be saying is something that seasoned investors will always have in their heads. And you don’t want to make it sound like a rehearsed script, but rather like a sincere interest. You never want to meet with a motivated seller and then simply wing it. Doing so is definitely a step in the wrong direction. The fact of the matter is that after speaking on the phone to the homeowner, you should have a pretty solid idea of what will be happening. When you arrive at the home for the initial meeting, you will want to get answers to some specific questions. But you want to do so in a way that doesn’t seem as if it is a pre-rehearsed movie scene. And you want to leave the meeting with a fairly solid idea of their expectations, timeframe and motivation.
Keep The Tone Light
Taking the proper tone in your meeting is a great way to separate yourself from the other investors. While potential short sales and foreclosures are serious issues, they are not the gravest ones that will ever happen. That does not mean you don’t care about the seller and their concerns at all, but very often a bit of brevity will in fact go a long way. After you leave, very often what will be remembered will be some slight self-deprecating remark you make or a small lighthearted comment you render. A little thing mentioned about a movie or a sports event will often be the thing that is remembered after the meeting is completed, and the homeowner will feel some sense of relief from what they have been dealing with.
Deal With Reality
There is no question that painting a true picture of reality is the most difficult task in dealing with homeowners. The truth of the matter is that there is such a vast array of misinformation out there that homeowners very often focus their thoughts on totally inaccurate information and data. When you go to your meeting you want to make clear to the homeowner that you truly grasp what it is they are going through. You want to try and keep things somewhat upbeat but you also want to be sure they understand just what negatives might occur. There is no question that doing so will earn you their respect and will gain you many more deals, even if it may cost you one or two. The truth of the matter is that being understanding but direct with them will be something they are going to truly appreciate in the days ahead. And your compassionate concern and information may be the thing that prompts them to complete any pending deals. At the very least it will help you to understand just where it is you are standing in the matter.
When you attend a motivated seller meeting, the intended purpose is to get a deal done. Creating a call for action is the best way to get this accomplished. You want to make the seller see how they can work with you and just what the next steps are. You can even go ahead and tell them that if they sign a contract with you today, just what will happen next. You simply want to get across to them just what it is they need to do and just how they can go about doing it. You want to know just where they stand before you conclude any meeting. Giving them additional time is giving them time to further explore alternate options. Even if they do not sign on the spot, you want to establish a procedure they can easily follow. Answer any and all questions they have but get across to them the need for immediate action.
Follow Up On Things
The fact of the matter is that no matter how ell you make your presentation, many homeowners are not immediately going to be signing on immediately. This is why it is so important you make a specific time and date up for them to make a response. This gets them to the point of mind that they will be hearing from you again at a specific time and date, and this will help convince them they will in fact be working on with you. Once the deal has in fact been secured, you set up for them specific dates and times when they will need to make a response. When the dates have been established, you want to continue to keep in touch with them regularly and keep them in the loop with things. Never leave the seller simply sitting in the dark on matters. You want to continue keeping them in the loop and not sitting by wondering what the heck is going on!
There is a delicate balance involved in dealing with motivated sellers and the better you get at handling it will help ensure ongoing success in these dealings!