Communicate With People In Life & In Business
One of the most important aspects in building a real estate investing business is how you communicate with people in life, and in business.
The more you are able to connect with your seller, the better chance you will have at being able to buy the property. Here are a few keys to building rapport with your seller.
1. Find out what your seller needs.
You can ask them why they are selling the house? If they say they are behind on payments, often they will tell you the reason. If they don’t you may want to ask them, “What set you back?” this will help you to define what it is they need from you.
The truth is the homeowner has a goal in mind that is why he or she is selling the house. They might be thinking that the way to achieve their goal is to sell the home using the traditional method. You can discover the best ways to help your seller by listening to them, and figuring out a way to meet their needs.
2. Be clear about what you can offer to the seller.
One important thing to know about your own business is WHAT you are actually capable of doing to help people. If you have never done a deal before, and you don’t have money in the bank to buy the home, don’t tell the seller you can buy their home in seven days. Promise your seller things that you can actually do.
Hot Real Estate Investor Tip
When negotiating, try and keep your relationship with the prospective seller as positive as possible. Try to meet their goal, and get as close as you can to the price they want for the house so that you keep the deal a WIN-WIN. When you are working with sellers where you can use creative financing as a strategy to buy their property, one of your key success factors is your ability to BE CREATIVE. There are a lot of ways to make a deal work!
3. Connect With Your Seller
As you talk with your seller make sure you take an interest in them. While there are a lot of opportunities to make money in real estate investing, remember this is also an opportunity to help others. Ask your seller open ended questions, which are questions that have to be answered with more than a yes or no answer.
You can ask them ….
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About photos that are displayed on the wall
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About trophies or ribbons they have exhibited
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About their animals if they have them
Listening to what they say is important; it is okay to add some of your own personal story into the mix. This will help them to begin to trust you. However, don’t take over the conversation. Remember you are interested in them, and how you can help them.
Find Things About the House That You Like
As you are getting ready to sit down and present your offer, make sure you tell them that you like the house, you may want to say something like, “ I sure love that fireplace.”
4. Don’t Get Caught Up In the Sellers Drama
Often the motivated seller is caught up in some type of problem, divorce, loss of job, a death in the family, it could be anything. There are a lot of reasons they could be selling their home. The important thing is that you listen to the reason for the sake of finding a solution. Don’t get caught up in their drama, the best thing you can do for them is buy their house so they can move on with their life.
Learning how to build trust & rapport is one of the most important things you can do in your business. We go over this in great detail in our coaching programs through training elements and role play. If you’re interested in learning more on how you can skip the learning curve and fast track your way to a successful deal by surrounding yourself with like minded investors then join us in one of our coaching programs!
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Building Rapport with Your Seller
