Taking those first seller calls.

[Jon C.]

I'm new to all this and wanted to get some clarification. I am also very nervous on the phone at this point.

I have sent out yellow letters that are very basic. They basically state that I am interested in purchasing your home and please call me. That's it. Nothing about paying cash, closing quick or anything.

I am now taking my first batch of calls and I'm really not sure what to say or how much to say. What is the general consensus? Obviously, you say you pay all cash, and close quickly. However, do you also tell them you buy at a discount and will not pay market value?

So far, I have been completely up front about that. I've been saying, if you are not in any hurry or just want as much as possible, I won't waste your time because my offer will be lower than market. Then I say something about helping people who need to sell quickly because I have no contingencies, buy as-is, etc. I never give them an offer from that first call, though. I always say I need to research more, etc but I do make it clear that my offer will not be at market value. My thinking is that a)I don't want to waste anyone's time and b)I don't want to mislead them in any way or get them angry at my lowball offer.

Is this correct or am I killing any chance of a deal?

[Matthew Rose]

I myself am still relatively new at this stuff, but prior to being involved in REI I spent many years in corporate sales, doing a lot of phone communication. For me, I think the key is like Silver said getting the seller to talk so that you can listen for their wants and needs and hopefully come up with a win-win solution. Silver's recommended questions to ask I think are spot on. Even if you determine that you can't hit your target buy price, I would try to find a way to be of value to the seller and your network, for example, recommend them to a listing agent if they haven't listed already. But still act in such a way to minimize time wasting.
Another strategy, if you are creative or can partner with someone who is, would be to try and come up with multiple offer options, like cash, seller financing, subject to, etc.

Jon, I think you deserve a pat on the back for taking action and actually generating leads and talking to sellers, You're already on your way, just keep at it, practice makes perfect.