Making offers on properties is essential, as you know you can’t get a deal if you don’t make an offer. However, getting real estate deals isn’t only about making offers. There’s more to it than merely sliding offers onto the table in the hopes that a seller will accept them – a piece of a puzzle in our business that if you ignore, your effectiveness will suffer.
That puzzle piece is this golden nugget:
Real estate investors who solve problems rather than simply making offers are more effective at getting contracts signed!
Let’s examine some reasons as to why:
1. You’re Genuinely Interested
One reason you’ll have more success in closing deals if you solve problems is that you will be genuinely interested in solving the seller’s housing problem. You won’t just be throwing an offer on the table with a hope and a prayer. Instead, you’ll have taken the time to sit down with the sellers, listen to their story, hear what their motivation for selling their home is all about, and see them as good people who just need some help. Then, you’ll be able to postulate a creative solution to their housing problem, making them an offer that they’ll give weight to because you’ve taken time to build a connection with them.
2. You Create A Win-Win Atmosphere
Sometimes when you walk into an appointment, the sellers will want your offer right up front. They may be curious, or they automatically have the mindset that you’re going to try to lowball them. And, if you give your offer straight away, you may trigger their internal voices to go into “doubt mode.” They may think you’re out to steal their home or somehow put the screws to them.
Even when they ask right up front for your offer, you still don’t want to put your proposal on the table right away. Simply acknowledge that you understand they want your offer and tell them you’ll get to that in a little bit. Then, engage them in a conversation where you can connect and build rapport with them. Ask them questions about their home, their story, their motivation for selling, etc. This allows you to create a win-win atmosphere where you’ll be able to better assist them in helping them solve their housing issues, giving them your offer when they’re in a more optimistic state of mind.
3. You’re Building Rapport
If sellers aren’t keen on you, they’re not likely to sell you their home. This is one reason building rapport is so important. If the sellers don’t feel heard and acknowledged, it won’t matter what offer you make because they’re likely to go right into defensive mode and say no.
Therefore, get genuinely interested in the seller’s motivation for selling their home. Take time to build a connection with them, allowing them to share their beliefs, desires, doubts, and even fears. When you do this, you’re better able to determine if you can help them and if so, how you can help them.
Summing It Up
As a real estate investor, you’re in the business of sales, and just like any other high dollar sale, things, like building rapport, finding out motivations, being authentic, practicing acknowledgment, and creating a safe and positive atmosphere, are essential to seal the deal.
A wonderful open-ended question I use is, “Mr./Mrs./Miss Seller, if I could wave a magic wand, what would you want to see happen with your home today?” Or “What would you like to see accomplished today?” Then, let them begin that conversation and look for ways that you can offer a solution to their pain points.
As you continue to focus on offering solutions, you’ll find that more offers will be accepted, perhaps even tripling your effectiveness. Not only will you get more deals, but your confidence level will soar, helping you in every area of your business and life.