Pre Screening Motivated Sellers can be intimidating sometimes. They have something that you want. You need to know exactly what to say to them to keep them on your side and willing to sell you their house.
It seems like such a simple task to just pick up the phone and start talking to motivated sellers. But I clearly remember having a mini heart attack when I first started talking to motivated sellers. I may have even been trembling. This part of training isn’t covered by a lot of people, but it can certainly cost you thousands of dollars if you don’t have the knowledge or training on what to say to these people.
Here are some UBER TIPS for Pre Screening Motivated Sellers of Real Estate
- Stay in control of the conversation. Ask open ended questions, so that they have to answer a specific question and cant beat around the bush. This means that you might have to “politely” cut them off so that you can move on. Controlling the conversation also means that you don’t end up on the phone with the sellers for 30 minutes, listening to their life story. While that might be entertaining at first, it’ll get old REAL quick.
- If the sellers start telling you how beautiful their house is, and how much money they’ve put into over the last 50 years, they’re probably not your motivated sellers. They have an emotional and monetary attachment to their property, and probably just need to call a Realtor.
- Your #1 Objective during your first conversation with the seller is to find out WHY they’re selling the house. All of the other crap just doesn’t matter. When I say find out “WHY”, I mean dig and dig and dig until the seller reveals the EMOTIONAL reason that they need to sell the house. For example, if they say they’re selling the house because they can’t afford it any more. That’s not the EMOTION that’s attached to their motivation. The emotion would be FEAR. Fear of ruining of their credit or fear of humiliation amongst their family. Once you discover their emotional reason why, identifying them as motivated sellers, then you can probe and poke at it during your negotiations, irritating the problem and then offer a solution to their pain.
- Don’t forget to ask them if they have a mortgage on the house and how much they owe. A lot of investors think that this is asking too much personal information. If you don’t get this information in the beginning, you’ll wish you did!
Study this list of tips over and over, and practice, practice, practice!