Investor · Charlotte, NC · Member since 2011 · 58 posts · 9 votes
I've run into this many times over the years as many of you probably have.
The basic scenario runs like this: seller gets a marketing piece, or goes to your website, or whatever, then speaks to you after passing through all the hoops set up to weed out the unmotivated. They want to meet to show you the house, but then claim they are not ready to sell or want to 'think about it,' or won't name a price (act like they just don't know), etc.
Anyone who contacts us about selling their house will eventually sell it; just like when a person goes to a car lot, they do want to buy car (same concept---they are 'in the market' so to speak).
What tips/suggestions does anyone have that they recommend be used to move the seller past this mental roadblock to signing a contract and at least getting the ball rolling towards a closing?
Investor · New Orleans, LA · Member since 2012 · 968 posts · 747 votes
9y
I get people all the time that give me the line, "Make me an offer". My reply to them is always the same: "Ok. How about $1?"
Of course they think that is ridiculous and I make a joke about it, but then I tell them something like this: "Look, if you were to sell I know you have some idea of how much you would want to sell for. I realize you may not have a firm number in mind, or maybe you just aren't sure what is a good offer amount. I'm not trying to get over on you or take advantage of you but Im in business to make money. This is my job. So if you just tell me to make an offer I'm going to make a lowball offer, and every other investor will likely do the same. I know you have some idea so give me a ballpark figure and we will go from there. If I don't have at least a ballpark figure to go off of then there is no way for me to tell if this is even something doable or not and we will just be wasting each others time. I don't want to waste your time, so what range are you thinking?"
I can usually get them to give me a price range, but sometimes they still wont and if that is the case then I just tell them thanks for your time and move on, and I let them know if they come up with a price to let me know and then we can talk. Sometimes they call back within a few days or a couple of weeks, but if 30 or so days go by and I don't hear from them I will give them a follow up call. More times than not these people aren't serious about selling. Anyone who is actually motivated to sell has a number in mind, and they know what their minimum price is.