What do I bring with me inside when I am visiting a property? Do I bring a purchase and sell agreement? Some investors say that it is best to leave all documents in your car and go inside with nothing. Then when the time is right, go to your car later and get them so the seller doesnt feel akward. What is the best method?
Bring inside to do what kind of deal? I rarely leave my stuff outside as I have already communicated with the seller. They know whats up usually. Herbster
Brief case.
50 ft. Measuring tape, flashlight, pad and pencil, calculator, camera
screwdrive, pliers and a socket tester.
Leave the purchase agreement in the car, fill it out
away from the seller. Determine cost and make an offer quick.
You may not get another shot.
A property may sit vacant for a year, as soon as the nosy
neighbor sees you looking than here they come.
Don’t be surprised how many people have been looking and
thinking about it, and you help them finally decide.
Hello…
I had to get up after falling off my chair… Is my hair messed up? OMG "Leave your paperwork in your car? :banghead
And why are you visiiting houses… We visit hospitals and family not houses… WE BUY HOUSES…
Here is something I wrote on the topic…
The goal in all of your presentations:
To handle the seller’s objections prior to them being asked by the seller
To set a purchase price that you’re comfortable buying at
Have the seller agree on that price.
What type of investor are you?
Your existing strategy will dictate at what price you can buy the house and where the money is going to come from.
At your presentation, you will want the following:
Hand-held calculator
Yellow note pad
2 blue ink pens (one for each seller to sign with)
2 sets of contracts (a set consists of 2 copies)
Business cards (more than two)
ALWAYS know your “number” before entering a presentation
Have with you your presentation folder which should contain the following:
• title comps –show selling prices for similar houses
• MLS comps – list of active, pending and sold houses
• map to property – mapquest.com
• Ugly, Uglier, and Ugliest Repair Sheet – use this when inspecting the house for damage
• contract (two copies)
• two business cards
Make sure you are dressed professionally and that your vehicle is washed.
If you have the opportunity to buy the house, the seller will walk you to your vehicle, so make sure the inside is clean and orderly. Remember the expression about first impressions!
Once you have arrived.
Park on the street, never in the seller’s driveway.
NEVER use the doorbell or doorknocker; always knock with your fist.
After knocking, step back away from the door about 5-6 feet and turn and look up the street, not at the peep hole in the door.
When the seller answers the door, step up confidently, say hello, and introduce yourself; if it is a female, wait for her to extend her hand; if it’s a male, extend yours first.
Ask if your parking location is all right.
Ask to see the home and if you can walk freely around.
Always have the seller with you as you look at the house.
Never say “It’s a beautiful home,” or anything similar. We buy “houses”, not homes. Home is perceived as having an extra, subtle value.
As you look around during your inspection, point out all of the negative repair items of the house and write them down on the Ugly, Uglier, Ugliest Repair Form. Say these words: “I will have to fix this” and “that will need to be repaired,” etc. This is your one chance to find everything that’s wrong with the house and you don’t want to be hasty with your inspection.
If it is the ugliest place you have ever seen, say so. If it’s a wreck, say so. They already know it is.
After your entire inspection, ask to sit at the kitchen table, if there is one, or on the couch if not. You are there to make a deal now.
Michael
Why is it that Michael Q is always so over-the-top with his responses?? I don’t get it.
When Michael responded to the guy who mentioned “leave your paperwork in the car”, what’s wrong with that?? I mean, if it works for the guy, it works for the guy! It would be different if Michael Q objected, but the ASKED THE GUY why he does that. Who knows, Michael Q may be able to learn from others rather than just push his own agenda. Example, for certain deals, I leave my paperwork in the car. Reason? You don’t want to come off as too pushy to a seller, pushing a bunch of paperwork in front of them. That is why sellers clam up and whatnot. Or maybe Michael Q you have to for whatever reason be all salesy with sellers. I never have to be pushy though, and deals magically get signed up easier. Sellers just appreciate a professional but approachable business that will help them out of their situation. So it’s up to you Michael, but leaving the paperwork in the car for certain deals is a highly effective technique. A situation for example where I personally do that is in a Lease Option. At a certain point in my discussion with the homeowner when I deem it time to sign, I basically ask the seller “so shall I go to my car to get the paperwork”. I want the seller to TELL ME to go get the paperwork to get things signed up. This is the seller TELLING ME “I want to sign this deal with you right now”. I’ve never had a seller say no when I presented it that way. Why? Because I’m not being pushy. I’m there to chill and have a good time with a new friend kinda thing. Giving them OPTIONS. It’s part of the chess match if you will. In certain deals however, I don’t leave paperwork in the car. An example of this would be a Sub2 deal. Either way, this hasn’t hindered my ability to get deals signed up in the slightest. In fact, sellers in the Lease Option situation appreciate that I’m not coming across as a pushy saleman trying to get them to sign, pushing paper in front of them. That is WAY WAY to salesy dude. Homeowners want to tell you to get the paperwork in a lease option deal. So anyway, I think that is what the guy before you was trying to say. And if he wasn’t, I am telling you this is what I do in a lease option, and this is why. Trust me bra, it works wonders. I’ve heard the analogy ‘comparison shopping with a friend’ should be how you do transactions.
I do however agree with the rest of everything Michael Q has said.
When Michael mentions “always know your number”, I assume he means the bottomline that he’d be willing to pay for a piece of property. To always know that beforehand. That is obvious. A better idea and one that I do is to make sure you get the commitment of the price from the seller right over the phone BEFORE going to the house. And if your due diligence proves the seller correct, and their property passes your critical eye, then you would sign and agree to their price, or the price you both negotiate to. But I don’t personally see the point in negotiating in person when you can do that right over the phone. Waste of time when you got other calls coming in.
Wish he’d just share his opinion though without all the horse poo.
Chuck E
Go ahead and leave your paperwork in the car and take on the wimpy investor role in a presenation… Doesn’t affect me at all… I am a Gorilla Investor and don’t apologize for it… We Gorilla Investors need wimpy investors… It balances the food chain…
I like chilling with friends… Have a beer or glass of wine… I most definitely never chill with a seller… Too much opportunity at risk… aka money… However if you want a luck run business then instead of doing a six pac have one with the seller…
Just my over-the-top approach…
Michael
Michael Q,
To each his own bro. Like I said, I guess you feel like you need to be a gorilla to get deals, and that is fine. Not sure why you perceive not doing your technique as “risk”. Anyway, as I said I didn’t disagree with your entire original reply. It was just the part about bringing in paperwork.
I think what is more important is that the original poster hear that there is more than one way to skin a cat.
That is what is great about real estate though. There are many different ways to get the job done. So to the original poster this might be valuable to see. You can be a “gorilla” like Michael Q and get the job done. Or you can practise the techniques that myself (who doesn’t sell any courses) do and get the job done also.
Makes me laugh when Michael Q makes generalizations on things he disagrees with with other posters on this board. Seriously I just laugh. Hey Michael, loved the battle you had going with the guy about bandit signs. LOL.
I’m curious Michael, why don’t you just relax and chill with a seller? What makes you so uptight that you can’t relax? Do you have a scarcity mentality? Do you not have the skills to relax AND get deals done? LOL, I’m poking fun at you bro because I get a kick out of you. Hopefully you don’t take it too seriously. But something tells me you will anyway…lol.
I read about you congratulating a guy on another post about a 9% response rate from his marketing. Wow, are you serious bro? You are happy with 9% only? HAHA. It’s no wonder you feel the need to have to be a gorilla with sellers. I’d feel the way you feel with only 9% from direct mailers too. Happy investing (chuckles).
Chuck E
I guess I am uptight because of this corn cob up my , well you know where, that frankly makes life, well, pressing… And you’re right again when you point out that the only reason I am so adamant about my opinion is because I am selling a course… Is it that obvious… Not worth the money anyway… Damn… I guess I need to be a little more relaxed.
Maybe I wasn’t held enough as a child while growing up. Dad didn’t play catch with me but a few times… Too fat for a girl friend in Junior High… Teachers made me sit in the back of the room so I wouldn’t bother other children.
You’re right next time I go out to a seller call I am going to leave the contracts in my vehicle. If they ask for them I will just say they’re in my car and if they really want me too I will go get them … Hopefully they wont ask. I am sure I will be making up for the bonding I didn’t gt a as a child, maybe a little transference isn’t too bad… I will ask them at some point if I could be their friend… Tell them my life story and hope that somehow connects.
Easter is this weekend so I better get busy going out to sellers if I want a place to be on Easter. What a paradigm shift… Thank you for your vast wisdom and especially your mentoring…
Glad I could humor you… No one has ever been so caring as to tell me that they find me funny. Its my life quest… Can we become friends… I cant catch well or hug so maybe we can just sit and, well just sit. Toys will be in my car if you want to play but its your call.
Mousy Mike
Yall are funny
http://onnidan1.com/forum/Smileys/classic/lol.gif
Anyway I agree with MichaelQuarles…bring the stuff into the house. Not to mush it in their face & force them to sign, but to let them know in no uncertain terms you’re there to buy their house. I’m not there to sell them anything…I just tell them here’s what I can do for you, and here are the facts both good and bad. Either they’re in or they’re not. I can imagine some people would wonder just how real you are if you won’t even bring the paperwork in the house with you. Just my opinion.
Keep in mind that I don’t just run out and “look at houses” just because a seller says for me to come take a look at it. To me, visiting the house serves two purposes: (1) verify the condition of the house, and (2) get paperwork signed. I need to know before I leave my desk that (1) there’s a deal here and (2) the seller is interested in selling to me on agreeable terms & at a good price. Otherwise I won’t waste the trip.
Again, just my way of doing things.
Michael: No matter what man, you make me laugh. Some others may take offense, but I don’t bro. Keep up the good conversation! These boards need it!
NSU: As I said to Michael Q, to each his or her own. Again, this is what is great about real estate. I personally don’t have to follow Michael Q or your way and I still get deals signed. You guys do it your way and get deals signed. Isn’t that the point though? Don’t matter how, just get deals done, right. So who cares HOW so long as the deal makes sense, right. And just to clarify NSU, I don’t leave paperwork in the car for all deals. I pointed out specifically I do it for Lease Options and have had great success with it. Different strokes, right? Whatever works. I just want folks like the original guy to understand if you market correctly and consistently the sales funnel will always have leads in it at various stages spitting out sales. So long as you stay consistent, you don’t need to be a gorilla. That gorilla way, if it works, great. Not oppose to it personally. I only objected to the idea that in Michael’s original reply to the guy talking about leaving his papers in the car. That was the objection. It’s also in the particular presentation style you use, right. Maybe my presentation may not work with you style NSU. But the bottomline is, who cares! So long as the deal gets done, who cares? Based on Michael’s reply to another guy regarding the congratulations about 9% direct mailer response rate (which is laughable), it might explain why he needs to be gorilla-like with sellers. 9 leads from 100 direct mailers Michael? LOL, that is disgusting. Hey Michael, just tell the guy to put up some bandit signs! Bandit signs, I think I see Michael Q’s eye twitching. LOL. Anyway, happy investing to all.
nsu1997
I actually recommend going out on any appointment where the seller wants value or less and where the mortgage balance wont interfere with my purchase price. So if someone is in reality land or better. If in fantasy land I too dont waste my skill set.
I remember the day I went to the house and on the inbound script it said he wanted 282k at the door he said he wanted 202k
Happy Investing
Michael
PS As I typed this someone else posted a message O… I see who posted… Actually 9% is outstanding…
9% response rate may work for some people, but certainly won’t work for me. This is what was so laughable to me about your over-the-top Michael. Look back at what “martini” said about the costs. $150. $150 for only 9 people who all weren’t motivated. Happens I guess, but congrats for that? LOL, too funny. 9% sucks dude. It just sucks! That is WAY too tight to expect sales consistently. I now understand why you’d be a gorilla with sellers Michael. Damn bro, I’d be that way too…lol. But again, my attitude is if deal gets done, who cares man! I like the Mary letters you do Michael. It is an excellent idea, so kudos to you. However, how does 9% get you clankin’ glasses with “martini”. Martini I’m sure KNOWS that sucks, and so do you. You know he needs to get something else going marketing-wise to better use his $150 effectively, whatever that might be. But if the crowd wants to be gorillas too like Michael, then 9% response is the way to go. Martini, if your watching, take the next $150 in your marketing budget and get some bandit signs. At least challenge Michael’s teachings and find out what works best and go with that. -laughs under breath…9%- HAHAHA.
I guess response rates are relative to the investment in the marketing to get said response rate. 9% is unheard-of high if you’re doing flyers, doorhangers, or mailing postcards or some type of we-buy-houses letter. But 9% is on the low side for yellow/mary letters.
I bring my
clipboard
inspection sheet
flash light
digital camera
screw driver if the property is a boardup
razor
Haven’t been here for awhile, but had to comment about taking the paper work in, or leaving it in the car discussion.
I learned a long time ago to do both, I take in a briefcase with my inspection tools and paperwork, but just remove some of the tools first for the inspection phase. I even call it my “toolbox” to reduce the sellers pulse rate. But many times I found it increased my closing rate to be able to play off the paperwork is in the car gambit, and it is a great test close question for many sellers.
Remember all sellers are not the same. Some are a sucker for a fast ball, some for a slow easy curve ball, and you use what you need to get the out.