motivated seller questionnaire

[Natasha Wilkinson]

I'm a newbie so bear with me :-) I have found 3homes in my target area that are for sale by owner. When I contact the owners for the first time, what questions do I ask to get an idea of how motivated they are?

[Melodee Lucido]

Hi Natasha,

Welcome to the wonderful world of crei---it is a wonderful place tolearn what you are made of.

First . . . and this is only MY opinion---3 fsbos is not likely to bring you a deal. BUT you could be lucky like I was in the beginning and trip into a deal.

The biggest thing to keep in mind is that this is a learning path. As newbies we are constantly looking for the money. SHOW ME THE MONEY!! (remember the movie? so funny). The thing to focus on is what are we learning.

The biggest thing you could do with these fsbos is to ask questions (as follows) and the LISTEN LISTEN LISTEN. We can't help anyone unless we are "Getting" where they are, what is their pain (if any---most fsbos don't even want to pay 3-6% to a realtor, let alone give up 15-50% to an investor).

So, the questions; this is rocket science lol:

1: Can you tell me about your house?
2: Tell me more
3: Tell me about the neighborhood
all these are to break the ice and get them talking----get pas the awkwardness.
4: Sounds like a nice house in a nice neighborhood (if that's what they told you---almost always is) SO why are you selling?
5: Tell me more about that
6: Play it back to them
7: How much are you hoping to get from the sale of your HOUSE (not home)?
8: How did you arrive at that price?
9: Is that how much you need to . . . (buy your new house, move closer to the kids, get a place in the new town you've been transferred to)?
10: How long has your house been for sale?
11: How many offers have you had on it?
"wow, none? or "Gee, they offered you what???"
12: ok great, let me do a little research about the comps and I'll get back to you.

The most important thing is to truly get their hope. their pain. I call myself the investor with a heart----even so, I find most sellers to be idiots.

Sorry, that's come from seeing how many fsbos have their house priced at $50-300k more than the worst prop in the neighborhood. And they wonder why it hasn't sold sheesh.

This is the sorta, kinda scenario for me.

It only takes about 10 minutes at most.

Good luck. Keep posting, asking questions STUDYING all the forums and most of all enjoying the amazing game of crei.