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Posted over 9 years ago

Driving For Dollars in Your Market - Part 2 Talking To The Seller

In my last blog, part 1 of Driving For Dollars I talked about the basics of how to find the FSBO signs in the front yard and what to look for.  You have already done your homework on the property, you know how many bedrooms and bathrooms, the SqFt, the year it was built, possibly when they purchased it and even how much they purchased it for.  You are now ready for what may be the most frightening thing a new investor could do and that is,....... calling the number from the sign!!!!!!

This is where most investors have to take a good look in the mirror and ask themselves if they have what it takes to dial the number and possibly speak to someone.  Dont worry, I felt this way in the beginning also.  I have a go-getter personality so talking to people on the phone was not a problem for me but here is what held me back in the beginning. #1. I was new to investing. #2. I didnt know what to say or even what to ask ask. If this is you raise your hand!! One of my early mentors taught me how to get comfortable on the phone and also taught me what to ask and how to ask it.  Keep in mind that my technique I am sure has some flaws and is by no means perfect but I can tell you that it has worked for me several times and I am comfortable that I dont even need the script that I am about to share with you all. If your ready for it then here we go!!

Call Script ( that I actually use when talking to potential sellers )

Ring…….

Hello

Hi, My name is ( Your Name ) and I noticed you have a home for sale located at ( 123 Main St ) and I wanted to know if it is still available?

Yes, the home is still available.

Can you tell me a little about the home?( get them to tell you everything about the home, let them talk. If you are not getting the info you need make sure to ask, lead them )

Well it’s a 3 bedroom2 bathroom home, etc………….

Ask them about the age of the roof, HVAC, Hot water tank, floors.

After you have gathered the info you are looking for say…..

It sounds like you have a very nice home, can I ask you why you want to sell?

( this is very critical as you might find out exactly how motivated they are to sell. I want to move back to Florida to be closer to my grand kids, My mom died, I just cant take care of the home anymore, I need some money quickly,  you get the idea )

What is your asking price for the home?( After they have given you their price this is where you have to know whether or not its worth moving forward. If the price is way too high you might want to call them back in 30 days as low balling them might be an insulting to them and you don’t want to ruin your chances down the road. If the price seems reasonable or in the ball park for a potential deal say..

I like what I hear and I would like to know if we could schedule a time for me to come over and take a look at your home.( now you have an appointment to go over and inspect the home in person.)

-------------------

Again, this is the script I have used and it has made me a lot of money.  Feel free to use it or alter it to your needs, whatever makes you comfortable on the phone but remember, nothing happens until you make the call.  One thing my mentor made me do was to go outside in the driveway while he sat at his desk and told me to call him, we did some role playing.  He would always pretend to be the difficult seller and I had a hard time taking him seriously but honestly, it was the best thing for me and helped me to become comfortable.

If you make it to where you are going to the home to do an actual visual inspection I would suggest bringing someone who knows about renovation cost as this is where you will find out how much work might be needed and will effect your true purchase offer. 

Time for you to put this into action.  Thank you for taking the time to read this blog!!!



Comments (5)

  1. Thanks @Ethan Bowen  for the kind words.  Glad you liked the article.  Hope you can use it or parts of it. 


  2. Great blog, thanks for your contribution to the community here.

    I'm fortunate enough to have an opportunity in my area to attend a workshop that that is specifically on talking on the phone. Maybe I'll write a blog after I attend to share my experience.

    Thanks again Curt. Your blog ignites excitement in me.


  3. Curt, Thanks for doing the second part of the blog.  My first blog was by accident, I was trying to ask a question.  I found it and deleted it recently.  I appreciate you taking the time to help others in trying to buy a house from a for sale by owner.


  4. *Thanks (correction)

  5. thank this was great and I'm currently in the process of putting together a script.