4 Things You Must Know Before Talking To Motivated Sellers

4 Things You Must Know Before Talking To Motivated Sellers

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Most of the best deals in real estate investing come from people who are motivated to sell their houses. Even though there are so many houses sitting on the market, not all the sellers are motivated enough to give you a deal that ends up making you profit.

Similarly, even though some of the sellers could be highly motivated, not all such deals have enough equity to make you profits.

Talking to these sellers therefore requires that you are able to weed out potential time wasters quickly without turning off potential good profitable deals.

Here are 5 things you must know before you talk to the next motivated seller.

1)Do not waste your time
The most important part of any conversation is that you must take the lead in the conversation. The conversation needs to provide you with the vital answers necessary to qualify if the deal is good or not.

A lot of sellers will start talking about the good things about their beautiful home, the updates they have done, the great location and so on. Of course they are attached to their house, but this will not help you if they continue for hours.

Unless you can buy their house cheaply enough to make a profit, all this information has no value to you.

I always have a list of questions that must be answered in the conversation. They can be answered in any order, but I must determine if it's a deal or not within 2 minutes.

Do not deal with any sellers who are not motivated. If they cannot tell you the outstanding balance on the mortgage, they are not motivated enough. Most motivated sellers talk about their mortgage balance as casually as they talk about the number of rooms in the house.

In my business, the sellers I talk with have already been pre-screened and pre-negotiated with on my real estate investor website. Those that choose to call must be motivated enough to leave a voice message.

I have a virtual assistant that calls them and fills all the information I need through my website. By the time I get to talk to them, I already know if it's a deal or not.

This way, I do not have to waste time with sellers of houses I will never buy.

2)Develop rapport
Do not appear as Mr. Big Corporate House Buying Company. You are a local guy looking to buy their house. Their house seems to meet your needs.

Develop this rapport in your conversation, especially once you have established you might make the deal happen.

3)Listen, listen, listen
Listen, listen, listen - and since you are leading the conversation, learn how they got into the predicament, what repairs are needed, etc.

The only information you need is that which will help you determine their level of motivation, asking price, repairs and equity.


4)Negotiate
Remember to negotiate even when the asking price looks good enough. Most people might feel like they asked for too low of you do not negotiate.

You can use on other things except the price such as appliances, closing costs or even furniture.

If the deal looks good, always make an appointment to go see the house as soon as possible.

This will make them shopping for other possible buyers since they consider you as a serious buyer. If you later crunch your numbers and find you cannot make the deal happen, you can call them to cancel the appointment.

As long as you remember to treat them nice, with respect and with sensitivity, they will be as keen to sell you their house as you are to buy it.

About the Author:
When your real estate investing business is run from an interactive real estate investing website, the website tells your story for you, pre-educating motivated sellers how you buy houses. It also automates most aspects of real estate investing, so you close more deals using less time, money and effort. Learn how you can employ such a website so you receive pre-screened.



Article Originally Published On: http://www.articlesnatch.com


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