You qualified a property, the numbers make sense for a good investment, and now it is time to get a signature from the seller. Some sellers, especially if they have lived in their home for a long time, may have an emotional attachment to their home. This can make it much harder for them to make a rational decision when considering selling. If you know that they are in a situation that they need to sell, but are hesitating for emotional reasons, there are ways you can support the seller and help them through the process.
Taking the time to listen and letting the seller know that you are sympathetic to their circumstances can go a long way. Many times, especially when there is an emotional attachment, a potential seller may be skeptical about your intentions. Using a sales pitch that you use with someone who is just concerned about the bottom line may not work well in this situation. Using a listening ear and building rapport is important. Just remember, they may have a lifetime of memories in this home, it is not easy for them to let go, but if you are sincere and offer realistic solutions, they are much more likely to want to do business with you.
Show Your Credibility
As explained above, when there is a strong emotional attachment to their home, it is hard for the seller to look beyond the emotions to the realistic and financial side of their situation. While explaining your qualifications and your process make sure to focus on how working with you will benefit them. Think of something you have an emotional attachment to, say a pet. When taking them to a vet, you want to be confident that they are credible and have the expertise to take special care. The seller thinks of their home this way. They want to hire someone that they know respects their attachment, but that also has the expertise to handle the transaction professionally and respectfully.
Hope for the Future
If the homeowner is financial issues because of their home, explain how your methods will get them a quick close. They will be able to move on to the next chapter of their life, and depending on the timing of the transaction, may be able to avoid foreclosure or even more damage to their credit. Despite the emotional attachment, it is essential that they understand that you want to help them now to avoid devastating outcomes in the future. In this process, you will have taken the time to qualify the seller, and will have a good understanding of their situation, so that you can confidently assure them that you have their interests in mind, and want to help.
Ultimately, acknowledging that you know it is an emotional and stressful time and explaining how you can help their situation can help you get that signature and the ability to help the homeowner move on to the next chapter in their lives.