The ability to talk well with sellers is important. If you stumble all over your words or don’t build rapport, the result can be a missed opportunity. The thing is, becoming better at talking to sellers just takes knowledge, time, and practice. This is good news because those are all things you have control over as you continue your real estate investing journey.
What’s Their Pain Pressure Point?
Beginners sometimes struggle with confidence when talking to sellers. Instead of taking the lead and asking questions, they get bombarded with questions from the seller that trips them up. And, just so you know, if this happens, don’t sweat it. You’ll get better at talking to sellers the more you do it. You’ll also learn from your mistakes.
Now, when you’re on the phone with a seller, your primary mission is to find their pain point. What’s the problem they’re having with their home that is causing them distress? I’m not asking why their house hasn’t sold. I’m asking about what is keeping them up at night? Not enough money to make the next payment? Being behind in payments? Having to relocate in a week? Facing bankruptcy?
Find their pain and you’re more likely to seal the deal.
Are They Motivated To Sell?
As you’re conversing with the seller, remember that you want to be the one in control of the conversation. You want to lead and get in there and ask your questions. Remember, you’re offering your services to someone who is in need of them. You’re the confident one able to save the day and save it fast. Yes, you allow them to talk to you, even at length about their situation. Yes, you are to be interested and empathize with them. They want and need this from you.
But you also want to learn how to get them talking about their underlying pain or motivating factor. When you can do this, and confidently let them know you can do X, Y, and Z for them to help them get out from under that pain, you’re much more likely to get them to accept your offer.
Solve Their Problem
More sellers will accept your offer when you clearly solve their problem. If you’re only thinking about how much profit you’re going to make, you might miss out on deals. Don’t focus on you. Focus on them. Focus on what it would mean to them if they could offload their home (and the weight of all the pressure) fast. Think about how many people you can help in this business – a lot!
You’ll gain more self-confidence the more you roll up your sleeves and get in there. Gain the knowledge and practice, practice, and practice some more. It’s not rocket science. It is an art that you can learn.
When you can get in there and see what their problem is, and help them see it clearly, and help them see that you can solve it, you’ll get deal after deal.