If you want bigger wallets, you need to master the art of getting a motivated seller to say YES. It’s not about bells and whistles or about getting all artsy fartsy. Save the creative thinking for your marketing. And it’s definitely not about scamming or trying to pull the wool over a seller’s eyes to get the deal. No matter how badly you want to close the deal (and I know you want it badly), always negotiate and communicate honestly with genuine intentions and with the seller’s needs at heart.
With that said, getting your seller to close is a simple and strategic process that takes but 5 steps.
And it goes something like this…
How to Get the "Yes" in 5 Steps
Step #1 – Build Rapport
We’ve talked again and again about building rapport, and guess what? We will (probably) never stop talking about it because it’s just that important! To build rapport you’ve got to be an active listener, and active listening isn’t a practice that comes easily for everyone. It takes time and patience to learn, and collecting your thoughts is a great start.
So when a seller calls, don’t be afraid to take a moment to breath, gather your thoughts and then attack the conversation with patient persistence and helpful questions.
Remember, your goal is to uncover the seller’s housing pain, the REAL reason why they are selling… so ask and ultimately build rapport by listening.
Step #2 – Agitate the Seller’s Pain
It sounds harsh at first, I know. But I promise this is a necessary evil (insert devilish laugh). Pain is their motivator, and in order to keep your sellers motivated, you need to reinforce their pain. Lots of investors make the mistake of saying things like:
“Wouldn’t it feel great to quickly sell your house?”
We’re not going for warm and fuzzy here, people. We’re pouring salt on the wound. So ask questions like: “Can you really afford to stay in this house much longer?”
Get your seller thinking about their stress and pain to keep the conversation moving toward that big “yes.”
Step #3 – Force the Seller into the Present
Your goal here is to inspire that “ah-ha” moment for the seller. You want them to gain sudden clarity, to see the urgency in their situation and to understand that now is the time to take action.
So ask: “What are you going to do right now to sell your house?”
This is where you can go for the warm and fuzzy; reinforce that – together as a team – you will solve his or her housing pain. Remember, position yourself next to your seller whenever possible.
Step #4 – Get the Seller to Say YES
Bravo! You’ve kept control of the conversation so far and things are moving in the right direction. But now you want to secure 7 – yep I said 7 – “yes” responses from your seller.
Ask 7 questions about making a change, resolving the problem and getting out of debt… questions that will undoubtedly arouse a “yes” response over and over.
Step #5 – Make Direct Commands
Now you need to tell your sellers how they are going to do business with you. Make commands, and be direct. Explain what they need to do and why:
“If you want a fair and hassle-free deal, you need to sign the purchase and sale agreement right here and now.”
Say it with fortitude but don’t be a jerk about it. There’s a difference.
Don’t Miss a Step
The bottom line is this – your seller will feel comfortable with you, secure in his/her decision to sell and ready to wrap up the deal if – and only if – you follow these five steps. Take the time to work through them and do them well. In the end, you’ll make more deals than Trump and Hillary combined! (Compliment or burn? You decide.)
Even the Best of the Best Use Scripts
I’ll leave you with this final thought, and it’s about following scripts. You may think they’re for rookies but think again...
Talking with sellers can be intimidating. The fear of that first call can be downright debilitating for some newbies, in fact. So take the pressure off. Follow a script, and know that the more you use it the more natural you will sound.
In time, you’ll be able to tweak it and adapt what you say and how you say it to each individual seller - on the fly. Talking with motivated sellers can be a breeze that leads you right to a close and – of course - big bucks.
Keep working those 5 steps, and as always stay classy. Until next time…