BiggerPockets

Hello,

I am very new in real estate. So I placed my very first "we buy houses, any shape any condition...etc. etc." in the newspaper and the first call I get is from a lady that asked me... can you tell me a little bit about your program?

How do you respond to that? I am doing lease options is this something I can say?

I am just curious how people turn this conversation around from talking about me to having them talk about their situation.

Thank you all,

N.

You need to understand and be able to articulate what you are doing. I would imagine most people who respond are going to ask you to explain your program.

Hi Financexaminer,

Thank you for your response. I guess I put in the word any condition in case I can wholesale a deal that I am not able to lease option.

As for a speal, i thought I would simply say my program invovles a 12 month extended closing while I cover PITI

what do you think?

Thank you,

N.

Hi Nick,

Your post is very helpful. Thank you for taking the time to resond.

Nikki

Hi, I really don't like having my questions answered with a question, on any topic. Be straight and to the point. If you double talk your deal, anyone with a little RE experience will be able to tell. You need to know or get a feeling about who you are talking to. Just a few short words with someone and I can tell if thy are educated or dumb as rock, if they have ever sold a house (they did buy at least one!). Their age says alot too, people in their 60s for example have been around the block. Older people will be skeptical too. Your communication should be clear, upfront and to the point. All the slide stepping, back tracking, double talking and sly use of words will likely get you nailed as a person to watchg out for, like what is he up to?
Using the words lease option might be used at the right time. If you simply explain that you will lease the property until it is closed, says alot....bam! they get it. If they object to that thought, ask why and overcome the objections.
You can approach someone with a win win situation without having to resort to sly tactics, which will always come out in the wash sooner or later. Do you want to waste your time? Their time? I suggest you show professionalism and get to the point like a business person would, not trying to sell sizzel like a car salesman on a used car lot. Where's the meat? Good luck, Bill

I'm sorry, I didn't mean to imply that cars salesmen can't sell cars.

Maybe what Nick is saying is that's it's OK to use a little salesmanship, I don't see anything wrong with leading someone to the direction you need to take them, but overdoing it will lose deals, period! Seller's are not stupid, they may be motivaed, but don't count on them being stupid.

Salesmanship is a good thing, I learned the basics years ago as an insurance agent. The insurance industry has it down, with canned approaches to selling life insurance. It's hard to sell something you can't feel, touch or see! You're selling an idea, a responsibility and financial security. I drove my manager nuts because I refused to say to the husband at a kitchen table, "I know you love your family" while his wife was sitting there! But, he wasn't too nuts since I was top producer in the regional office! You can sell sizzel or the steak. This reminds me of the cold calling sessions the office would have after the weekly meeting. They used a script. You had to have ten appointments for the next week. I didn't use any script either and I was always the first guy done, getting the appointments before anyone else. I loved cold calling.

You need to find your style, and be comfortable in your presentation, not try to copy some guru. I suggest you see what they may say and some of the responses that can be used, but to try to copy any style with a canned approach will get you falling all over yourself.

Best thing to do is to know your topic, know your product which is the first rule in marketing and salsemanship. Know what you have to offer as opposed to what the alternative is.

Asking questions is important, you need to understand the needs of the party you are dealing with, you won't know unless you ask questions. But to "answer" a question with a question might be OK, to make a point, but doing so over and over will just tick someone off.

Ever try to call a large corporation, like the phone company, and talk to "customer service" (LOL). You get hit with canned spiels and you say no and they just flip the page to overcome your objsction and continue in efforts to up sell you? Very annoying! Good luck, Bill