One of the most challenging parts of being a real estate wholesaler is building rapport over the phone the first time they call.
If you’re new to the business and you’re just starting out it can be very frustrating trying to figure out the reason the sellers are calling in the first place. Most of the time they just want to complain because you mail them a postcard to begin with. It’s very crazy the reactions we get as investors for reaching out to people that own real estate. LOL, We’re not too worried about building rapport over the phone with those sellers anyway.
The first moments of your conversation is critical to whether or not you’re going to be able to connect with your seller. And it’s also very important and essential to the deal making process.
Sellers want to do business with someone that they know, like, and trust.
If I’m listening to what coaching students in the early stages of their career I almost died when they’re on the phone. They sound very robotic and they are rushing the seller through the conversation. Maybe it’s because they’re nervous, I’m not quite sure. I’m sure that could be a factor. But the truth of the matter is that you have to slow down and listen to what the seller is telling you.
This is why we have two ears and one mouth. So we can listen more than we talk.
Practice this theory on the phone and you’ll be sailing your way to closing sooner than later.
Objective # 1 : GET THEM TO KNOW YOU
We all have a list of questions that we want the seller to answer during our initial phone call to help us determine if they’re “qualified” to begin in our programs.By having a normal conversation with these people (as if you were talking to your neighbor) all of your questions are likely to get answered. By asking open ended questions and get them talking about themselves and the situation that they’re in right now, then a lot of those important factors are just going to come out you won’t even have to ask.
Here’s some questions to ask to get the seller talking:
“Can you talk to me about what’s going on with the house right now? “
“What’s the current situation with the house? “
“What made you decide to call me today? Are you ready to get this house sold quickly? “
By allowing the seller to talk about themselves and about their current situation it builds trust and you. They will feel like they know you a little better because they have opened up and told you about their personal life this breaks the barrier to the know portion of the know like and trust you.
Objective # 2: GET THEM TO LIKE YOU
Now that you’ve got the seller talking and opening up, its time to sympathize. NO MATTER WHAT THE SITUATION IS! Try to relate to their story, and if you can find some way to make them feel like you completely understand, then do it.
For example, if the seller is a landlord who is dealing with bad tenants. After listening to her tell you what’s going on , you can response with:
“Oh man, I don’t think I ever want to own rental properties, It sounds like a nightmare”. (By saying this you are on her side. You are confirming her belief that the tenants suck and that you wouldn’t want to be in her shoes.)
You could also say:
“I totally understand. In fact, we specialize in helping people who have problem tenants every day”. (This will make her like you since she may be embarrassed about her choice of tenants).
There’s always an opportunity to sympathize with your seller and let them know that you’re listening and that you understand where they’re coming from. They’ll like that.
Final Objective: GET THEM TO TRUST YOU
Finally, you must get the seller to TRUST you. Challenging task. Easy to accomplish once you understand that you’re a problem solver.
When the seller first calls, they probably don’t trust you at all. They may even think that you’re going to take advantage of the,
There’s several ways to help the seller move toward trusting you, which will make you a better deal maker.
If you have a credibility kit, USE IT. Be sure to share this information with any seller that is a potential lead in your system. Be sure to include every positive (and neutral) testimonial that you have (or that you get in the future).