How to Talk To Homeowners

Question

Does anyone have a set of questions or things they think through or scripts or anything that helps them approach, talk to, and close on deals with homeowners when they approach them directly (whether through mass marketing, driving for dollars, or otherwise)?

Or maybe there are some resources you could point me to?

Jonathan Greene · Answer

The most important question you ask an off-market potential seller is "Where are you going when I buy this house?" If they don't know where they are going, no matter what else you talk about, you aren't buying that house unless you can solve the problem of where they are going.

The most colossal mistake in all off-market acquisition is that people use the same dumb scripts for all sellers and they almost always talk about a cash offer. Only pre-foreclosures and people with other need money issues need cash fast, maybe like 10 percent of seller. The rest need a problem solved or a solution of some kind.

Don't use scripts. Be a real person. Tell them the truth about why you are calling and your finances (if you have them). Don't lie. Be an asset. You don't close a deal the first time you are on the phone and if you do, something is wrong.

Matthew Hull · Answer

Thanks - those are great thoughts. I just listened to episodes 219 and 221 on the “Flipping Junkie” podcast and they talked through the same thoughts you two just shared. Thanks for the additional resources for me to follow up with!

Abel Curiel · Answer

Hello @Matthew Hull,

Scripts can be helpful, but we sound like robots if we rely on them too much.

Main questions should ask about the seller's:

- Reasons/Motivations for wanting to sell- Desired timeline to close- Plan's after selling (relocation, reinvesting proceeds, 1031 exchange, etc)- Back-up plan in case they are unable to sell within the desired timeline- Reasons for not already selling to/with a investor or Realtor

Additional questions will depend on the type of seller lead i.e. pre-foreclosure, probate, fsbo, absentee owner, etc.Here is an example of a youtube search you can use to begin finding call recordings.There are 1,000s and you'll find that the best/most effective ones don't even sound like sales calls. They sound like regular conversations where the RE professional/investor is genuinely interested in discovering the seller's pain points to help find a solution.

All the best!

Abel

Lauren Cutchen · Answer

I'd also recommend making up a few situations that you might encounter and role play using the list of question you want to find out. Record yourself too for feedback. The more you practice, the more authentic you'll start to sound. Though we may come from a helpful place, we still get nervous talking to strangers, door knocking, or cold calling. Starting out is rocky, but authenticity goes a long way. Though I've had a lot of doors shut and people hanging up from cold calls, it's helped refine the way I approach people. More questions, more authenticity, the more your confidence builds too. Get your reps in. You'll mess up from time to time anyways.

Script Advice: if don't know what to say, ask questions. Compliment, give something of value, and don't talk about yourself. Smile. Eye contact.

How to Talk To Homeowners

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