What to say to motivated seller??

Question

Heres the scenario,
                                   You've done your marketing, the phone is ringing......you have several good leads.  Two or three are really good deals at the right price.  You pick out a couple of the leads to call back. You call them.....the phone is ringing.......you're waiting on them to answer.....then they pick up, "Hello," an woman answers............after introducing myself... "Hi Mrs, Pockets, how are you today, this is Kenneth Lee, you left a message after reading one of my signs about selling a house."

What do i say to the seller, do i let them know that i wont be personally buying the house??

do i explain what wholesaling is to them??

What do i say to get around all that?

From a sellers point of view, how am i any different than a agent trying to sell my house??

Anyone use a certain script??

Johnny P. · Answer

I agree with Chris.

Here is how it goes for me

Me:  Can you tell me about your property and why you need to sell

Seller: blah blah blah my house is great blah blah i need to sell fast for a random reason.

Me:  What is your asking price

Seller: 55k

If this sounds like a good priced home that I can wholesale I continue the convo, if not I save their info and call them again when they become more motivated to sell.

Me:  Is the home listed with a realtor

Seller : no its not  (if yes then bye bye from me, save info and call if listing expires)

Me: ok great, when would be a good time for me to come view the home

After driving to the home & building rapport with the homeowners.

Me:  Whats the lowest you would accept as a cash offer that can close in 2 weeks.... then I negotiate a price with the homeowner.

Seller:  Well I only owe 50k on the mortgage so I would take 50k cash

Me:  Ok that sounds great,  i will not be purchasing the home myself but what I can do to help you out is put this property under contract so i have equitable interest in your home.  I will then spend MY money to market your home and will also show it to my cash investors.  I have a ton of friends who are buying properties right now to buy and hold as rentals, so I will mark up the price and sell it to them if thats ok with you.

Seller:  Sounds great

If seller says "but what if i find my own buyer, I don't want to be stuck in a contract with you if I sell it on my own"

Me: Well thats not problem at all, we can just sign a simple one page addendum to the contract that states my contract is only valid if MY COMPANY finds the buyer, so if you sell it buy yourself I will happily rip my contract up.

Seller:  Ok thank you so much for your help

Me:  start blasting the property on CL, e-mails to my cash buyers, and go crazy with bandit signs.

This is for wholesale leads only, the conversations go much differently if the homeowner is behind on payments or something of that nature.

Hope this helps!

Dale Osborn · Answer

Basically - you are there to solve their problems. Let them know that you are an investor and will need to buy at a price that will allow you to make a profit. By being open and up front - you will be able to work with them easier.

Chris Walker · Answer

After listening for a bit, I tell them up front if I will buy it, or if I will find an investor who will buy it.

I tell them that I have a network of people who will want that house and they don't have to keep hunting and pecking and waiting for people, marketing etc. ..

I don't go into the legalese of assignments and stuff unless they ask, but I tell them up front that is what I'm doing.

But only after listening to see if I can buy it, or one of my investors will.  If it's not a match, I tell them so. . with "I'm not the right buyer for you.  I can't help you meet that goal."

Chris

Tobi Rosario · Answer

I ask several questions to the homeowner

Like is there a mortage still owed on the property ?if so how much do you owe?

Do you owe any back taxes for the property?

so why are you looking to sell?
try to get a specfic answer:divorce,moving out of state,need the money, the reason being you need to know there motive and that way you can kind of get a better feel of there situation and that will help in you negotiating.

lets says the sellers is asking 100k for the property

you would then say whats the least you can take if i were to pay in cash an close very quickly.

sellers says 75k

you say is that best you can do ?You have to consider im  paying with cash and can close very quickly

you can usually get the seller to drop a few thousand dollars after that.

those are some of the questions i usually ask when talking to a seller

Ken Madill · Answer

There are a couple of key questions to ask. First one is, if you had your ideal. Situation when would you like to see the property close? If the answer yesterday or tomorrow you know you have a potential deal. Then ask them to seperate there wants from there needs. Everybody wants top dollar for there home. But if they need to sell it in ten days there is a price to pay for that. Lastly build a rapor with them. Ask about there kids look at pictures on the walls and comment about them. Once this happens they will spill there guts to you. Also let them know you are there to help them and at the same time find a way to make a small profit
Kenny

James Hiddle · Answer

Agreed 100%

Kenneth Lee · Answer

I agree, on the same hand.......to much explaining and complicating, especially being new, couldnt that scare off some potential sellers. Opinions?

What do you say to your motivated sellers?
 are you guys Keeping it simple?
Do you Use a script?

Evan Poole · Answer

Johnny. If I am a license agent but my license is in a voluntary inactive status and have never been used, do I still need to disclose to the seller that I have a license?

Jeff Fairchild · Answer

Does everyone else agree with Johnny P above that you would tell them that you're not going to be buying the house yourself? Does that ever kill the deal? Are they ok when we tell them we are going to mark up the price to sell it? Are they ok when we mention we are a group of investors? What things have you said that killed your chances of buying the house and/or made them mad?

What to say to motivated seller??

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