You have the appointment. Now what…
Sean Terry – Flip to Freedom on How to speak to sellers
The seller is motivate
* Book appointment
Not motivated
* Make offer anyway
* Don’t necessarily want to go on appointment
Warm lead
* Goes into follow up
* Keep in touch with them!
Retail priced deal
* Convert to listing
Short sale or pre foreclosure
* Must refer to Realtor
4 types of seller personalities
1. Analytical
2. Driver
3. Social
4. Social conscience
Closing methods based on personalities
Alternate choice close
Nail down
Take away
Price justification
Building rapport
* Get to the point of people genuenly liking you
GOAL – Find out what the sellers hot button is…
* What’s their motivation
* Do they have a place to go
Are you mirring the person you’re talking to?
* This will make the person feel comfortable
Analytical
* Like things in writing
* They want to know the numbers
* Not super responsive
* They will blow you off
* Not assertive
* Show up to appointment on time
* You can give them specific timelines in contract
* Slow to make decisions
* Harder to close
Driver
* Assertive
* Not responsive
* Fast to make decisions
Social
* Love building relationships
* Optimistic
* Fast to make decisions
* Because they like you
* These are easier deals to close
Social conscience
* Yes man/woman
* Soft hearted
* If you’re patient they will make a decision
* They really care about people, and use these for objections
Always get the seller to give you a price first! If you can…
* Don’t be shy to ask for the price
If a seller wants you to give a price before an appointment
* Give them a price that’s in the ballpark – midway between wholesale and list price
Analytical objection
* Let me think about it and get back to you
* Set specific time for your appointment
* Don’t be late
* Don’t be too aggressive
* Don’t assume you already have rapport built
* Don’t be too social
* They want to hear the facts
* Give basic handshake
* Slow things down, and spend time on facts
* Get them to agree on your numbers and comps
* Use the price justification close
* Show pros and cons of the deal
* Killer method – try to box them in on their objections
* What is it specific that you need to think about
* Then shut up!
Use price justification close
* Only use then seller doesn’t give you a price
Driver objections
* If I don’t get XXX price I won’t sell it at all. Tell me your price.
* MUST match tone and energy
* Ok to be aggressive
* Assume that you don’t have rapport
* Must offer a lower price than where you’re going to end up
* Must leave yourself room with Drivers
* Must backup your price with comps
* Might sign on first meeting
* They are decisive
* Ask if this is the best they can do
* What can we do to get this done?
* Tell them you’re going to get your butt kicked by your partner if you accept that offer
* Use nail down close
* If I can get to XXX price, can we get this wrapped up today?
Social objections
* Find out what they need and want
* Match their tone and words
* Ask about their family, friends, pets, be genuine
* Use alternate choice close
* Would you like to close on the 11th or the 13th?
* Would you prefer a check or a wire when we close?
* Go straight to the close
Social conscience objections
* Worry about how things are going to affect other people and things
* Not worries about themselves
* The will lose themselves to help others
* Hold on and follow up until they are ready to sell
* You can assume that you have rapport built
* Talk about things other than the property
* Get them talking and relate to their story
* Same as Social, but trying to figure out who and what they want to please in the process of selling the home. Then solve that problem.
* Tell them about something that you do that gives back to other people
* Use alternate choice close (like with Social)
Join the Seattle Investors Club
* Email joe@seattleinvestorsclub.com with questions
You can use different closing methods together
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