Response to: "What are you going to do with my house?" ?

Question

I've finally got my direct marketing letters going out and the calls are coming in. A common question that always seems to be awkward is "What are you going to do with my house?". "What to do with the houses when you buy them?"

I'm having trouble finding a generic answer that is not In someway offensive to the homeowner.

I've tried

"Make repairs, update and then resell"

"Update and resell"

"Update/freshen up a bit, and then resell"

In response to any of those I seem to get a defensive, almost insulted response. "Oh my house is perfect", "my house doesn't need repairs it's perfect the way it is", Etc.

How do you folks answer that question?

Ryan Dossey · Answer

"Great question! My company purchases 3-4 homes a month in the greater _____ area. Some of them we keep as long term rentals. (if you say investment they start to think it's worth more then what you're going to offer them/they should just keep it.) In some instances with homes that need a lot of work we get our rehab team in there. With other homes we will do owner finance to help people who can't get traditional financing. If our plate gets full we have other investors we work with as well"

Last sentence I only use if I feel it is necessary. This approach conveys a few things.

• Other people use your services/help all the time.
• You close regularly so they should have no worries that you can close when you said.
• People like that you are going to take good care of "their" things.
• Owner finance shows that you are creative/work with people.

It's not about you it is about how you can help them.

Hasan Hamdan · Answer

The best way is to be honest and not sound defensive. Sometimes its how you say it not what you are actually saying.

Tell them you will repair/update then later on decide to either rent or resell, and that you don't plan on living in the property (we always say this).

If a seller would object and say their house is perfect/great, I usually respond saying "yes, your house may be in great condition but the kitchen/bathroom style may be outdated and the paint job/flooring might be old as well compared to what new homeowners are looking for". Something to that effect, and I usually get the response "okay that makes sense" or "I understand". Or even just yesterday a seller agreed and then said yes the house definitely needs a new paint job.

Brandon Foken · Answer

Good replies on here. Above all else, just be honest with your intentions for the property. When people are emotionally attached to the property, I offer them a private open house once construction is done so they can see the care and craftsmanship we used in fixing up their place. People respond really well to that so I use it every time someone has that level of attachment to the house.

Nate Green · Answer

Awesome thread @Bob C. !

I really like your new responses - respectful, but still justify the need for rehab.

Bob C. · Answer

This is what I've come up with:

I make any repairs necessary and update the house with what new homeowners are looking for. Then sell it to someone who will love it as much as you do.

Reply to "it's perfect"

Its great to hear that your house is in great condition - sometimes kitchen and bathroom style may be outdated and the paint job or flooring might be old -- compared to what new homeowners are looking for.

Bob C. · Answer

@Corey Demuth I totally agree with you, BUT... the goal is to keep the conversation going. If I in any way put up a wall and say as sweetly as I can "it's none of your damn business", they are going to get turned off, shut down.  If I can't be open, then they will not be open.

Originally posted by @Ryan D.:

@Bob C. I find that normally people who ask those kinds of questions aren't super motivated as well.

Ugh... I hope I don't find the same.

Corey Demuth · Answer

Bob,

It sounds like you tried telling them you are going to renovate and flip but they don't want to hear that. It is honestly none of their business what the next owner will do with the property. If I were in your situation I would probably try being more vague, and giving them the hint that it's really not appropriate to interrogate you about it. You might say that you want to acquire some property as a long term investment, and you have a family member who will probably rent it from you initially.

Bob C. · Answer

Yes, logically it is... but these folks have a lot of emotional attachment to their home and to the neighborhood, neighbors.

I'm looking for an honest answer that will give them some comfort, so we can continue with our conversation.

Ryan Dossey · Answer

@Bob C. I find that normally people who ask those kinds of questions aren't super motivated as well.

Corey Demuth · Answer

What a silly question. What am I going to do with YOUR house? Absolutely nothing. After I buy it, and it becomes MY house, I'll do whatever the hell I want with it.

Response to: "What are you going to do with my house?" ?

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