Follow Us on Social Media

email icon rss icon linked.in icon google plus icon twitter icon facebook icon

11 Influential BiggerPockets Members Share Their Secrets to Getting a ‘Yes’ From Sellers!

by Ben Grise on July 25, 2014 · 30 comments

  
11 Influential BiggerPockets Members

What I discovered in my first year of investing will shock and amaze some of you.  While for others,  the secrets I’m about to share with you aren’t exactly secrets to you anymore.

Exactly one year ago I discovered BiggerPockets and set out on a journey to learn all I could about real estate investing, and more specifically how to find motivated sellers who needed my help in Indianapolis and get them to say ‘YES’! In the past year, my marketing efforts have produced a few diamonds in the rough, sellers that truly needed my help to sell fast, accepted my offer, and said ‘YES’ with little to no price negotiation involved.

Most experienced real estate investors have experienced this phenomenon, and in all actuality in the past year I have learned that most successful investors don’t classify this experience as a phenomenon, but rather something that happens quite regularly in their investment business.

Are some investors simply luckier than others? Just like a poker player takes a different approach than most with the cards he is dealt, successful investors take a different approach when talking to and searching for sellers who need their help.

Where as, if you’re starting out, you may be asking:

  • Why do my sellers always say ‘NO’!
  • Why do my sellers hang up the phone on me?
  • Why do my sellers verbally threaten or abuse me?
  • Why do my sellers try to sell me beef (happened to me)?
  • Why are we even asking these questions when the seller’s response is out of our control?

In an effort to learn and grow my real estate investing business and yours, I reached out to 11 of the most influential contributors to the BiggerPockets blog and forums and asked them to share their secrets with me.  Here is what they shared (in no particular order):


 

Ben leybovich#1  Ben Leybovich

I’ve never “gotten” anyone to say yes, Ben.  Formulating this question in this way illuminates a lack of basic understanding of principals of negotiation, which are:

No one says yes to something they do not want.  Therefore, it follows that you’ll never convince anyone to say yes – they must convince themselves.  The way to do it is to validate the seller’s perspective and structure your proposition to fit with the general thrust of the seller’s perspective. Much, much easier said than done, but in very broad strokes there’s hardly any more to this…and this applies to sellers, buyers, and lenders.  Finally, this will also help you with your girlfriend, so think on it :)

Ben Leybovich’s is a creative real estate investor from Lima, Ohio.
Ben’s Website: JustAskBenWhy.com

Related: BP Podcast 014 : Cash Flow, Creative Finance, and Life with Ben Leybovich

brandonturner#2 Brandon Turner

My favorite technique to get people to say yes is to let my personality shine through, rather than put on some sort of “business front.”

I try to bring my wife with me when I meet with sellers, I like to include a photo of myself and my cats/dog on letters, I mention local places when on the phone (such as a local festival or my favorite local pizza place), and I do whatever else I can to let them know I’m not “some big time investor” but I’m a local community member just like them. This one tip has worked INCREDIBLY well for me over the years – even when dealing with banks.

Brandon Tuner is the BiggerPockets.com VP of Marketing and Communications and an active real estate investor.
Brandon’s website: BiggerPockets.com

 

chrisfeltus#3 Chris Feltus

After fielding many calls and going on numerous countless appointments, I would have to say the number one thing to help get a “yes” is to build a rapport with the seller.

If you are genuinely interested in helping them and their situation it will really show and set yourself apart from the competition. Its that simple. When I go on appointments, I rarely even talk about the house that much. I know I have a good appointment when at the end of the walk through we are talking about what it was like to grow up in the home, the latest neighborhood gossip and everything else in-between. Once the seller trusts you, and if you give them a fair offer, there is little reason for them to work with anyone else but you. Beyond that, try and tailor your offer as a solution specific to their problem. For instance, do they need to close at the end of the month? Whatever it is, try and shape your answer.

Chris Feltus is a listing Realtor in Dallas and active investor within the community.
Chris’s Website: ChrisFeltus.com

Markferguson#4 Mark Ferguson

When I buy rental properties or fix and flips, 90% of my deals come from the MLS.

There are a couple of ways to get sellers to accept my offers over someone else’s.  The first thing I do is always act fast. I am a real estate agent and I can make an offer 2 hours after a home is listed.  This doesn’t always get the deal, but sometimes it will.  If there are multiple offers, which happens most of the time on great deals I make my offer the most appealing to the seller.  I almost always wave my inspection, have no financing contingencies and let the seller know I will close.

Mark is Real Estate Broker and investor in Greeley, Colorado. Mark invests in long-term SFR rental homes and also does 8-15 fix and flips a year.
Mark’s Website:  InvestFourMore.com 

sethwilliams#5 Seth Williams

As most new investors quickly find out – the vast majority of sellers have very little flexibility with the offers they’re willing to accept.

Most of them aren’t even worth an investor’s time because the prices they’re willing to accept will completely eliminate any real opportunity for the investor to earn a profit.

For this reason – it is critically important for an investor to find and pursue the right sellers (i.e. – that small demographic of people who are highly-motivated to sell). We’re not looking for the “average seller”, we’re looking for the person whose property is causing a serious disruption to their life (financially, emotionally, physically, etc). We’re looking for sellers who are fed up and want out. A seller with this mindset will be your greatest source of opportunity because when a person is desperate to get out from under their property, they will be FAR more likely to accept a lower offer (i.e. – something an investor can actually work with). Find the sellers who are less concerned about making money and more concerned about finding an easy way out, and you’ll have a new world of opportunity in front of you.

Seth Williams is an experienced real estate land investor, commercial real estate banker, and property owner.
Seth’s Website: Retipster.com

johnfedro#6 John Fedro

Let me begin answering this question by first addressing something everyone knows, sellers are people.

Sellers are mothers, fathers, brothers, and sisters etc. Sellers have lived in their homes for a number of years or months and they should get what they are asking for, if they can. With that said it is important to treat each seller as if they are not a number but rather a person. I say this above because so many investors falsely believe that it is “You VS. Seller”, when in reality you can have much more profitable results by operating as “You and the Seller VS. their unwanted home”.

John Fedro has been investing in manufactured housing since 2002 and John now spends his time continuing to build his cash-flow business in multiple states while helping others enjoy the same freedom he has achieved.
John’s Website: MobileHomeInvesting.net

Related: BP Podcast 075: Mobile Home Investing and Getting Started With John Fedro

dannyjohnson#7 Danny Johnson

The number one secret to getting sellers to say yes is to be talking to the right sellers.

Of course, I’m talking about motivated sellers.  I don’t care if you can negotiate like William Shatner as the Priceline Negotiator, it won’t matter if the seller isn’t motivated in any way to sell their house.  The best use of all of our time is getting in front of sellers that are much more likely to say yes so that we don’t have to do any sleazy, used car salesman negotiating.

Danny Johnson is an investor in San Antonio, TX.
Danny’s Website: FlippingJunkie.com/

sharonvornholt#8 Sharon Vornholt

I believe that the secret to getting sellers to say yes is ultimately about the relationship you build with them.

People do business with other people they “know, like and trust”.  In this business, some folks think we are in the house business.  In reality we are in the “problem solving business”.  It’s vital that you start to build that know, like, and trust relationship right from the start which is usually during that initial phone call.  For this reason it’s important to appear confident when you talk to sellers.

Sharon has been investing in real estate since 1998. In January of 2008 she took the leap of closing her business to become a full time real estate investor.
Sharon’s Website: LouisvilleGalsRealEstateBlog.com/

jerrypuckett#9 Jerry Puckett

The key has more to do with you than the seller; YOU have to really care about their situation and genuinely try to help or it will show.

When a Seller knows relief is within reach, they will say yes….if they trust you. If your mindset is to really care, empathize with and fix problems, everything you do and say will reinforce that and the Seller will absolutely pick up on it. Be less than genuine, try to manipulate or be phony in any way (that includes fake it till you make it technique) and the Seller will also pick it up, even if only subconsciously and you’ll be shown the door.

Jerry Puckett is a real estate investor and direct mail marketer from Texas.
Jerry’s Website: MarketLikeAWholesaler.com

aaronmazzrillo#10 Aaron Mazzrillo

I want to talk to a lot of people. I ask simple questions and try to get them to talk as much as possible.

Like one of my favorite instructors says “You have two ears, one mouth. You should be listening twice as much as you are talking.” A lot of new investors get overwhelmed with all the questions they think they don’t know to ask. To get a great deal on a property, I only need to ask one question; “Would you take $XXXX for your property?”

Aaron Mazzrillo is a real estate investor from the Southern California area who makes a great full time living with just 4 to 5 hours of work per day.
Aaron’s Website: AaronTheHouseBuyer.com/

jasongrote#11 Jason Grote

Seller’s of real estate property are not like someone waiting to check-out at a convenient store, wondering, “Should I buy this pack of bubble gum or not?”

High-pressure and Zig Ziglar sales tactics rarely work on someone who is looking to sell their house.  So, what does?  The seller has to feel comfortable with you and/or your company.  The process of getting the house under contract, sifting through title concerns, mortgages, taxes, closing costs, moving, and getting to the table to close can be a long, arduous, roller-coaster of an ordeal.  We get sellers to say YES by answering their questions, being patient, being ethical, and not putting undue pressure on them to sign a contract. Otherwise, they may say YES, and then before closing tell you NO!

Jason Grote has been involved in real estate investing for 10 years, focusing primarily on fix and flips.
Jason’s Website: IBuyAustinHouses.com

 


 

benbuysindyhousesAll of the contributors that I featured in this post had an important impact in helping me reach my 1st year real estate investment goals.  Do I know all of these contributors on a personal level?  No I do not, but after discovering BiggerPockets  I then had access to some of the most successful and helpful real estate investors in the world.  I encourage you to reach out to these individuals, interact with them on the forums, send them a private message, visit their websites, and soak up all that you can.  Perhaps one year from now you too will be writing about those members of the community that have helped you achieve your real estate investment goals.

Good luck with your sellers! Wait, I almost forgot…just like with those who succeed at poker, luck has nothing to do with it.

 

Email *
  



{ 30 comments… read them below or add one }

Danny Johnson July 25, 2014 at 3:10 pm

Great post, Ben!

I appreciate you letting me be a part of it.

Reply

Ben July 25, 2014 at 4:05 pm

No problem Danny! I appreciate you being such a big help getting me started.

Reply

John July 25, 2014 at 4:41 pm

A awesome read. Will take info to the next level

Reply

Chris Feltus July 25, 2014 at 6:21 pm

Its an honor to be featured on this list. It really warms my heart to see the wealth of advice shared freely here on the Bigger Pockets community. Special thanks to Ben and BP for putting this together.

Ben, I am so glad you were able to find success through hard work, studying the forums and blog and most importantly taking action. I hope your success helps to both inspire and drive others to follow in your foot steps.

Reply

Ben Leybovich July 26, 2014 at 5:30 am

Nice job Ben! Continued success to you my friend!

P.S. I like your name :)

Reply

Ben July 27, 2014 at 8:52 am

Thank you Ben. I appreciate your support, and maybe next time you’re in Indianapolis, we can take advantage of your visit and get to know each other better.

Reply

Ben Leybovich July 27, 2014 at 1:44 pm

I’ll let you know, Ben :)

Ben July 27, 2014 at 8:38 am

Thank you Chris and I appreciate your help along the way. Those are the goals.

Reply

Jon Klaus July 26, 2014 at 9:25 am

Thanks for the wisdom, folks. It’s good to hear about trust, listening, solving problems, rather than “always be closing,” tricks, and manipulation. Good job, gentlemen. And Sharon!

Reply

Ben July 27, 2014 at 8:40 am

I didn’t realize how important it was to build rapport when I first started taking calls from sellers Jon, but after I started getting to know sellers, that’s when I began earning their trust and buying houses.

Reply

Jon Klaus July 27, 2014 at 8:43 am

Same here, but looking back I see I built a relationship with everyone I purchased from.

Reply

Ben July 27, 2014 at 8:54 am

And I’m sure those relationships turned into referrals!

Tom July 26, 2014 at 10:42 am

Great Read Ben. The basic belief that Caring about the owners needs and helping them find a solution to their needs is “The Ultimate”. Thanks to All.

Reply

Ben July 27, 2014 at 8:42 am

Thank you Tom. I agree, if you’re not helping the seller solve a problem, chance are, you probably aren’t going to buy the house. That’s why it’s important to listen and figure out their problem, sometimes it’s not always obvious.

Reply

Rodney Kuhl July 26, 2014 at 6:55 pm

Great post, Ben! Love how willing everyone is to share on BP!

Reply

Ben July 27, 2014 at 8:46 am

Thanks Rodney. Everyone sharing their wisdom and their experiences are what makes BiggerPockets such a valuable resource.

Reply

Christopher Leon July 26, 2014 at 7:26 pm

No body cares what you know, until they know that you care. That’s my philosophy atleast. Good article here.

Reply

Ben July 27, 2014 at 8:47 am

I agree Christopher. When I first started, sellers knew that I wasn’t the most experienced investor looking to buy their house, they just knew I cared, and they knew that my word was worth more than the number of houses I had bought in the past.

Reply

Jason Grote July 26, 2014 at 8:28 pm

What a great collection of wisdom! Love the format Ben… Keep up the good work and thanks for letting me be a part.

Reply

Ben July 27, 2014 at 8:51 am

I agree Jason, and thank you for taking the time to answer my questions and PMs on BP. It appears that a lot of readers enjoy this format, so I’ll be sure to use it for some of my future posts.

Reply

Sharon Vornholt July 27, 2014 at 3:12 pm

Ben – Thanks so much for asking me to be part of this article.

If you will look at all of the answers, there is one common thread; if you are to be successful in this business, you have to really care about the people you meet with. There isn’t any selling going on; it’s all about problem solving and relationship building. Being sincere and really listening to folks goes a long way.

But in the end, everyone is right when they say you have to be talking to the right sellers.
If the best salesman in the world is trying to sell wheelchairs to college students he is doomed.

I guess if I’m to get on the same level as Brandon, I’ll have to start taking my dog along on appointments. :)

Sharon

Reply

Ben July 27, 2014 at 6:30 pm

No problem Sharon. I’m happy that you were willing to participate.

I’m not sure if my wife would want to come with me to meet with sellers, as you know some of these houses can be a little frightening to walk into. I do have my pup on one of my website pages though.

Reply

John Fedro July 27, 2014 at 5:05 pm

Hi Ben,

Thanks for the shout out! Everyone on this list has been influential to my business in some form or fashion so I am grateful to be mentioned next to them. Good post.

All the best and talk soon,
John

Reply

Ben July 27, 2014 at 6:34 pm

Thanks for participating John. I’ll be in touch when I do my next post using this format.

There were a lot of other influential members that I wish I could have featured as well. There are dozens of people who have influenced or helped me out in one way or another.

Reply

Shaun July 27, 2014 at 5:38 pm

Cool article and lots of good tips from a lot of great people.

Also good to show people that the BP Big Dogs aren’t at all above taking time to help people that reach out for help getting started.

Reply

Ben July 27, 2014 at 6:39 pm

What I like most about BP Shaun is that they are real investors, who are active, and like you said, are willing to help people learn. As opposed to the one’s that charge you tens of thousands of dollars to help you learn.

Reply

Samantha Morey July 27, 2014 at 7:35 pm

What an extraordinary post. There is no more powerful testament to the power and value of Bigger Pockets than testimonials from within its own community.

I have been following the BP blog for a few years, and I am always surprised by the amount of information that is shared openly. I am an experience landlord of over 20 years, and every time I come back to visit I learn something new, see things a different way or find an actionable tip that I can incorporate into my business. Not only do we celebrate some of the most influential contributors here, but we also get to see how Ben started from a beginner (where we ALL started) and used BP as a resource following the advice from the contributors listed here to create success.

There is no better way to promote Bigger Pockets than this post right here. Excellent work everyone all around.

Reply

Ben July 28, 2014 at 8:29 am

Thank you for the kind words Samantha. My goal was to show how those interviewed helped me, and how they could help others who were starting out.

Everyone has different real estate goals. I was realistic with my goals, and even though they were small, they were realistic, and thanks to BiggerPockets I achieved those goals. I hope that this post inspires others to set goals and utilize the BP community resources to achieve those goals, no matter how small.

Reply

Seth Williams July 29, 2014 at 5:27 pm

Thanks for inviting me to be part of this post Ben – this is a great collection of wisdom from some great minds in the business!

Reply

Ben July 29, 2014 at 6:52 pm

No problem Seth. I hope you will participate when I use this format on another post.

Reply

Leave a Comment

Comment Policy:

• Use your real name and only your name in the field designated for your name.
• No keywords allowed as anchor text in the name or comment fields.
• No signature links allowed under your comments
• You may use links in the body of your comment, but it must be relevant to the discussion at hand, and not merely be some promotional link.
• We will have NO reservations about deleting your content if we feel you are posting merely to get a link without adding value to our discussion.
If you add value, but still post keywords, we'll use your comment, but remove your link and keywords.
• For more information about acceptable practice, see our site rules.

Want your photo to appear next to your comments? Set up your Gravatar today.

Previous post:

Next post: