I’m just about to start up my marketing campaign and I was wondering what questions the experienced investors ask the callers of their ads in order to figure out how to structure their potential deals. I have a good idea of what information I would need to gather about a property but I’d like to double check with some experienced investors before I start receiving calls and emails. Thanks.
Generate some scripts and keep them with you. I use Vonage for my 800 # and it logs all calls so I have their phone # and time of call already. It also lets me forward the calls to my cell phone.
Have a 20 second script that tells the caller a little “READ A LITTLE” about what you do, keep it short and brief, highlight that quick simple sales are your biggest benefit.
Make sure to treat the callers professionally and politely. Do not negotiate or debate the price on the phone. Just get their info, address, asking price, reason for selling, and try to politely ask the condition of the property.
Try to make an appointment to come out and meet them, and see the property. Check the comps that evening. Be prepared to make an offer.
When you get there, be very polite, say its a nice house even if it isnt, do not point out any damage or repairs necessary, just make a mental note or write it down. Check out the area on the way in.
Check the ceilings for water stains, check the kitchen cabinets, check the windows. Sit down with them, be nice, get to know them, tell them more about how your business works. Find out how much they owe if you could not get it from the tax record. Make an offer to help them get out of the loan at a number right around what they owe. Tell them you can do it in 10 days. Tell them you are very serious, and that your offer is legitimate, leave them a contract if you think they are serious. Wish them luck, offer them advice on how to resolve their situation, impending foreclosure is rarely ever abated, most people keep thinking they are going to save the house, but it never happens. Tell them how they can avoid it, rent for a year or 2 and rebuild their savings and credit. You need to be more of a trusted advisor to them, with a valid solution for whatever there current problem is. If your seller knows what his house is worth, and has no hardships, and is trying to get his payday, politely thank them, wish them luck, and give them your card if they decide they really need to sell fast.
Do the old insurance salesman routine, pay them for referrals, tell them you will cut them in on any deal they refer to you.
Follow up with them in 3-4 weeks.
Do it 10-15 times, you will hit on one. The more you do, the better you get, the higher your closing rate.
Thanks Gus, I’ll use all your suggestions.