In doing some research I found some interesting facts, for instance, do you know what Winston Churchill, King George VI, cartoonist Al Capp, performers Tommy Smothers, Bob Newhart, Jimmy Stewart, James Earl Jones, George Burns, Anthony Quinn, and Marilyn Monroe, Annie Glenn (wife of astronaut John Glenn), TV journalist John Stossel, basketball player and NBC commentator Bill Walton, as well as singers Jane Froman, Carly Simon, Mel Tillis all have in common?
You probably guessed by now they were all stutterers. Well I think that the new person who is hesitating to make his first call on a motivated seller does not know what to say, is in itself a form of stuttering. Yes, a new person has a few of the basic questions, “If I could, would you?” This is the first question Adam asked Eve and it must have worked because we are all here. I personally do not use this phrase because there is a 50% chance the seller could say “NO”. I would rather ask my question of the seller where there is a 100% chance they say “YES”.
Some people are blessed with the ability to speak in front of a large audience or a motivated house owner with equal ease. There are others who have the ability to think and act quickly when asked a question by a motivated house seller. In reading various archives on discussion boards, there are many posters having trouble expressing what they want to accomplish with their first motivated seller. It is not because they have not read the real estate course in their chosen area of real estate investing. Ninety nine percent of experienced investors have the knowledge of our industry and, more importantly, know how to apply this knowledge.
Every one of the people listed above uses a script in order to perform without faltering in front of his audience no matter who the audience might be. Have some of the successful people listed sold you with their singing, acting, comedy or sports abilities? Some of us not so gifted may have to rely on another method to get our message across. This is why I believe it is important to have a memorized scripted “presentation”.
So, sit down and write, what you do believe is important to a motivated seller and what your plan is to help them out of their situation or what their objections might be. Some situations could be that the seller is behind in payments, job transfer, etc. Keep your presentation in order even if it is in note form. As you talk to sellers you can add or delete, what works best for you. As you progress your presentation will become second nature to you. In your presentation answer the questions before they become an objection. “Subject to” sellers are very predictable, they need out and some “U-Haul” money. Be positive in your answers.
Let me begin by telling you a little about $Cash$. I have been buying and selling houses for over eight years. To date, I have purchased millions of dollars in property.
I bet you didn't realize you were reading the opening lines of my presentation? Neither do the house sellers.
I, personally, am a very serious investor. I do not like to “come back later”, or hear “we will think about it”, “let me check with my Attorney”, “what do you mean the loan stays in my name” etc. What they are really saying is you did not answer all the questions to their satisfaction, so they still have objections. When I finish with my presentation to the motivated seller, the deal is done. Now I own the house. Except when I feel the deal it is not right for all the parties involved, and then I say “Good Bye” and walk away with a good feeling.