Motivated seller now what ?

Question

Mindy Jensen · Answer

@Rafael Frias, every property is different, so a set script isn't going to work every time. Find out why they need to sell, and what they need out of it. Sometimes, they just need to be rid of it. I know someone who bought a house for $100 plus closing costs, simply because the seller didn't want to shell out taxes anymore.

Like @Abel Curiel said, money isn't always the reason they're selling. Ask open ended questions, then listen to what they say.

Josh Caldwell · Answer

@Ian Cyr nailed it, the most important question by far is "why are you selling?"  If I know what his problem is then I can offer a solution that will work for him and for me.

The secret to dealing with sellers is that what we want is sort of irrelevant, it is what they want that will determine the foundation of the deal

I hope that helps

Josh

Ian Cyr · Answer

I would say the number one question would have to be; why are you selling?  If there is a red flag, then take caution.  Feel the house out.  How's the roof, foundation, moisture and neighborhood?

Mark F. · Answer

@Rafael Frias  The most important thing to remember when dealing with sellers is this: their goal is not to sell a house, it's to accomplish something else by selling the house. If you can find out why they're selling, you can make your offers much more powerful.

I've been selling mortgage financing over the phone successfully for over ten years now and this is the approach I would take:

1) Get them talking by asking open-ended questions about the house. This helps you uncover important information you need about the home and getting the seller talking helps you build rapport and trust with them.

2) Listen for clues and hints about why they're selling. It could be an off-hand comment about taking a job in another city, needing extensive repairs on the house, not having money to pay the mortgage, etc. Jot those down and ask follow up questions about them later.

3) Once you built some trust and rapport, you can ask outright why they're selling in several ways: Why are you selling? What will selling this house mean for you and your family? What are your plans once the home is sold? You've lived here for so long, why sell now?

4) Once you know the "why" behind the sale, incorporate it into your offer. Your offer shouldn't focus on the number of dollars you're going to give them in exchange for the house. It should be about how you're going to make their life better (meaning helping them achieve their true goal) by taking the house off their hands.

Hope this helps!

Brandon Shewbridge · Answer

Ask when they bought the house.  That should give you a general idea of how long they have been there and what type of equity position they are in. If they bought in 06-07, there may not be much.  If they've been there 20 years or inherited from their parents, etc. then that is better.

Ian Cyr · Answer

If you ask me, money talks.  The best way to find out if people are motivated, is by making an offer.  Will you accept 20% less than your asking price?  Give a low ball offer.  Depending on how motivated those sellers are, they will or will not accept.  Then work from there.  Make offers that don't insult, but make them contemplate.

Motivated seller now what ?

Most Popular Reply