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Thursday, July 17, 2014

What's the Secret to Getting a Seller to Say 'Yes'

The secret is that there is no secret. The whole concept of there being a 'secret' is the psychological game gurus use to trick people into thinking the guru knows something nobody else knows and without that information, success is unobtainable. So, the guru convinces these people they must pay up in order to get those secrets or risk failure.

I talk to sellers every day; Monday thru Sunday. I like to talk to responders of my marketing on the phone. It's about the only aspect of this business I truly enjoy. At this point, getting a ‘Yes’ is more thrilling than cashing the check! (I get to keep the whole 'Yes.' The government gets a good portion of the check.) Just the idea that I got someone to read my copywriting, pick up the phone and potentially pass huge amounts of equity over to me is an amazing thing. Therefore, I want to talk to a lot of people. I ask simple questions and try to get them to talk as much as possible. Like one of my favorite instructors says "You have two ears, one mouth. You should be listening twice as much as you are talking."

A lot of new investors get overwhelmed with all the questions they think they don't know to ask. To get a great deal on a property, I only need to ask one question; "Would you take $XXX for your property?" If I get a ‘yes,’ the only other question I need an answer for is, "Is this the correct mailing address for you?" (I want to make sure escrow can mail them docs.)
I'm not worried about the paint color, leaking roof, bad tenant, filthy floors, running toilet, broken this and outdated that. Get the address and a few good comps, then crunch your numbers and make an offer. Lots of respondents say ‘no.’ A few yell. Some just hang up. I don't care about those people. They are not my customers. Imagine if you own a burger stand. Would you get depressed about all the people driving by and not stopping for a burger? No! You only focus on those that come through the door hungry, and have money to buy. If I mail to a list of 2,500 people, I'm only looking for the one or two people who are ready to say 'Yes!' I'm not focused on the 2,498 others. They are not my customer today. Maybe at some point in the future they will become my customer, but today, I'm only looking for the one or two who need my services now.

Private consulting available and read about my deal of the month:

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