Have you been able to get a seller to accept your offer for their property yet? If not, I believe I have some tips to help you succeed!
There is a lot of mind-speak that goes into talking to sellers, but the long and short of it is far less complicated than you might think. First and foremost, you need to be in the right frame of mind and be a person first to the seller. You are not a real estate investor right now; you are a person first.
And, this is what will set the stage for the seller to accept your offer.
How to Get a Seller to Accept Your Offer as a Real Estate Investor
So, let’s get a few things clear here. I am not going to teach you sleazy persuasive salesman tactics. That is just not what I do.
I am going to teach you how to focus on helping women use our natural abilities as excellent communicators to get real estate deals DONE. And because of this God-given talent of ours, I am going to teach you how to get those sellers just wrappppeedd around your little finger…just like your daddy. As well as your Pawpaw. Probably your husband, too.
We are going to use those same skills to get the seller to accept your offer for their property.
Got it? Okay, let’s talk about sellers.
You need to focus on sellers morning, noon, and night. I know that right now you have been learning so much about real estate investing, lease options, seller financing, passive income, and a million other things. Right now, though, none of that matters.
To get a seller to accept your offer, speak to them like a third grader.
No matter how smart and smooth your seller thinks they are, do it. And no matter how much you know, I want you to speak to your seller like a third grader.
The reason we do this is because most people speak on a third grade level, especially when discussing a topic they are not sure about.
Think about how often the experts in your life do this for you? Does your doctor use all of the medical language he knows in order to explain your health problems? I hope not. My doctor will simplify things to make sure he uses words that I understand.
And, if I went to an accounting conference, I would be lost! I don’t have a clue what all of those words mean. But, when I speak to my accountant, she speaks to me in words that I understand.
When you talk to your seller like a third grader, you help them to more easily understand how you can help them.
This is the difference between a good doctor and a great doctor. The moment you lose your seller, you have lost them for good. They will not accept your offer now, or ever.
Keep things as simple as possible so that they understand everything you say. Do not think for one minute that you need to use those “professional” words you know. Take your time explaining new things to them.
More people understand the word rent. “I’m going to pay your rent for the next ten years. What you’re paying on your mortgage payment, that’s what I’m going to be paying straight to your bank.”
People understand that.
But, I could just as easily say all these things about owner financing and lease options and amortization schedules, etc, etc, etc. And, if I did that my seller would turn around and slam the door in my face.
The moment I confuse my seller, it’s done. I’ve lost them. That property will never be mine. So, speak to them like a third-grader.
I don’t care how many or how few deals you have done at this point. When it comes to you and the seller, you are the real estate expert in this situation. Do not lose them by using bigger words than are needed to talk to them clearly.
Now that we got that out of the way, let’s address the next point.
The second important way to get a seller to accept your offer is to focus on the their problem.
You heard me right. Remember how I said to be a person first and foremost in real estate investing? This is why.
Your seller needs to get rid of their property for some unknown, personal reason that you need to discover. The only way that you will be able to help them is if you know why they need your help!
I had a seller one time who inherited a house that was a few hours away from them. When I started talking to the seller I knew that the house was empty, needed some work, had no tenants, etc. But, I did not know why they needed to sell it in the first place.
What got me the deal was that I asked the seller what was going on.
At first the seller started telling me about the house and that they did not have any money to flip it. Then they did not want to have to drive three hours to work on it. And they did not want to hire a crew, and all these things! They were just really annoyed that their parents had left them the property in this condition.
So, I said, “Really? So, is the time problem; you know, driving over to work on the house?”
And the seller said, “Yeah, you know I’ve got this job and my kid’s playing ball for travel ball season. So, I just don’t have any time to be driving all over the place and talking to contractors, etc. for this house!”
When I heard that I said, “Tell me more about your kid. Fill me in on travel ball.”
He then explained that his son had been struggling with bullies at school and had basically lost all his friends over time. So, he got him involved with a travel ball team to keep him occupied and on the right path in school. Now he’s paying out his tail to keep him on this team. It takes all of his money and energy to do it.
“All I do is go to work and travel ball.”
I asked, “How much are you paying a month in travel ball?” And he told me $500.
I stopped and thought for a moment. Then I said, “It sounds like the problem here is that you want to spend more time with your son, so that you can make sure he is becoming a smart, well-balanced member of society.”
And his eyes just lit up! “Exactly! That’s right. Ultimately my problem is that I need more time with my kid. I don’t want to give time away from my kid and this sport that he loves, which I’m encouraging just so I can flip this flipping house!”
I said, “I gotcha. What if I just started sending you the $500 a month you need for travel ball and I’ll take care of this house for you.”
He said, “You’d do that!?”
And I said, “Absolutely I’ll do that!”
Listen. The seller’s problem had nothing to do with the house. The problem was with his heart. His heart wanted to do dad things with his son. He did not have space in his heart to flip this house that was three hours away. And he did not have the money to do it either because he was giving it all away for travel ball.
If you want the seller to accept your offer, talk to them about their real problem.
Soooo many times the house is not the problem at all, but rather just the tool that you can use to solve their problem.
In this case, the solution that I offered to this gentleman was to take over his travel ball expenses by way of buying the house. So, we are killing two birds with one stone here!
Not only does he get his travel ball expenses covered, but I also get a super awesome deal on a property! I know I can rent this house for $1000-$1200 a month. $500 is a steal for me! But that is not the point.
He just wanted his travel ball expenses covered. Once that major pain point in his life was covered, I had completely helped him with his problem. And that is what makes him happy.
So I get to take over the house and all of the responsibilities that come with it, while he gets to collect a monthly amount and focus on his kid. Total win-win!
Do you get it yet?
If you focus on your seller’s actual problem, you will be able to see how you can really help them.
And we women do this so naturally and so well.
Talk to them with words they will understand. Focus on their real problem (not what you think their problem is). And, offer a solution that helps them solve that problem by way of you buying the house.
This is why you, the real estate investor, are a problem solver. And don’t you ever forget it.