"Its none of your business" How would you handle this objetion?

Rental Property Investor · Yuma, AZ · Member since 2019 · 637 posts · 46 votes

So, I was cold calling and asked a "lady" if she was making mortgage payments on the house and she said "its none of your business" lol and I said "ok" and she laughed at me, so, my question is... how would you handle this objetion?

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Joe Cassandra

Rental Property Investor · Woodstock, GA · Member since 2017 · 517 posts · 772 votes

Like Jerryll says, if you just meekly reply "ok"...you've already lost the negotiation, and you come across as an amateur. The one who controls the conversation usually wins the negotiation.

Proper response is to take back control of the frame (read Oren Kleff's books) --- maybe chuckle to ease the tension and respond "I'm not asking what's in your bank account, [NAME], just asking how much you owe on your mortgage. If you owe too much, it might be a waste of time for us to continue this conversation."

If she still tries to push you around...

You have to just push her away "I get it, you're a private person. Unfortunately, buying and selling real estate is a big transaction, if you aren't willing to share how much you owe on your mortgage...I owe $100,000 on mine...then it makes me uncomfortable what else you're scared to tell me. I don't think it makes sense to continue chatting, do you?"

If she says "no", then drop it.

If she says "well..." , you've taken back control.

----

It's a lesson I'm still learning, and still fail at...because it's a lot of thinking on your feet until you'v edeveloped a good enough script.

But sellers don't want a 'nice, polite, 'I'll do anything, please sell me your house" person", they want someone who "respects them, emphasizes, but is confident in themselves." People trust confidence, not politeness.

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Aaron K.
Specialist · Riverside, CA · Member since 2015 · 6k+ posts · 3k+ votes
6y
@Account Closed respect it and move on, she sounds like someone who might know how to negotiate, and if she gives that info up, you may have a leg up in negotiations. If you buy the house her proceeds will cover what she owes on the property, if they don't you won't be buying the property without an approved short sale.
1 Reply
Matt M.
Specialist · Easton, PA · Member since 2018 · 1k+ posts · 2k+ votes
6y
@Fili Aguirre
I’d probably tell you the same thing. It really is none of your business
3 Reply
Kirk R.
Peoria, IL · Member since 2013 · 967 posts · 383 votes
6y
Originally posted by @Account Closed:
So, I was cold calling and asked a "lady" if she was making mortgage payments on the house and she said "its none of your business" lol and I said "ok" and she laughed at me, so, my question is... how would you handle this objetion?

Sorry I know that's a little bit of a nosy question. But, I need to know this because if you owe more on the house tgan it's wirth we could do a short sale. My experience is I don't want to waste my time or yours. That's why I like to know this upfront.
2 Reply
Patricia Steiner
Real Estate Broker · Hyde Park Tampa, FL · Member since 2019 · 2k+ posts · 3k+ votes
6y
A lesson earned and learned...so next time, look it up on the official records under the owner's name. Mortgage recordings are public information and you'll have a lot more credibility than asking a question that really is inappropriate during a cold call.
Know your business better and you'll be amazed at how it comes through during your cold calls.
2 Reply
Nicholas Morris
Realtor · ORANGE COUNTY🍊 · Member since 2020 · 3 posts · 1 vote
6y
@Fili Aguirre
Is rhat how you asked it? If so I'd try to re-frame it and insist youre trying to help. Gotta get past that initial push back. They usually need the help but are just freaking out and others sharks are calling.
1 Reply
Matthew Paul
Severna Park, MD · Member since 2013 · 7k+ posts · 7k+ votes
6y
Smart " Lady " .
0 Reply
Jerryll Noorden
Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
6y
First, if a seller thinks we will bend backwards to take that ridiculous attitude we will give them the boot faster than she can blink.
They need ME, I don't friggin need YOU! If you don't want a reputable business make YOU a cash offer get the frog out of my face!
Guess what... we have 20 other people that want an offer from us... and the next day.. we will have 30 leads in our inbox.
Secondly, we don't bother ask them in person for the mortgage left.
We put it in our forms.
They always answer!
That is the difference between inbound and outbound traffic!
1 Reply
Joe Cassandra
Rental Property Investor · Woodstock, GA · Member since 2017 · 517 posts · 772 votes
6y
Like Jerryll says, if you just meekly reply "ok"...you've already lost the negotiation, and you come across as an amateur. The one who controls the conversation usually wins the negotiation.
Proper response is to take back control of the frame (read Oren Kleff's books) --- maybe chuckle to ease the tension and respond "I'm not asking what's in your bank account, [NAME], just asking how much you owe on your mortgage. If you owe too much, it might be a waste of time for us to continue this conversation."
If she still tries to push you around...
You have to just push her away "I get it, you're a private person. Unfortunately, buying and selling real estate is a big transaction, if you aren't willing to share how much you owe on your mortgage...I owe $100,000 on mine...then it makes me uncomfortable what else you're scared to tell me. I don't think it makes sense to continue chatting, do you?"
If she says "no", then drop it.
If she says "well..." , you've taken back control.
----
It's a lesson I'm still learning, and still fail at...because it's a lot of thinking on your feet until you'v edeveloped a good enough script.

But sellers don't want a 'nice, polite, 'I'll do anything, please sell me your house" person", they want someone who "respects them, emphasizes, but is confident in themselves." People trust confidence, not politeness.
4 Reply
Kirk R.
Peoria, IL · Member since 2013 · 967 posts · 383 votes
6y
Originally posted by @Patricia Steiner:
A lesson earned and learned...so next time, look it up on the official records under the owner's name. Mortgage recordings are public information and you'll have a lot more credibility than asking a question that really is inappropriate during a cold call.
Know your business better and you'll be amazed at how it comes through during your cold calls.

Do you have to go to the court house to get mortgage info?
I'm not for sure, but i think to get mortgage info i have to physically go to the court house to get it looked up.
0 Reply
Kirk R.
Peoria, IL · Member since 2013 · 967 posts · 383 votes
6y
Originally posted by @Joe Cassandra:
Like Jerryll says, if you just meekly reply "ok"...you've already lost the negotiation, and you come across as an amateur. The one who controls the conversation usually wins the negotiation.
Proper response is to take back control of the frame (read Oren Kleff's books) --- maybe chuckle to ease the tension and respond "I'm not asking what's in your bank account, [NAME], just asking how much you owe on your mortgage. If you owe too much, it might be a waste of time for us to continue this conversation."
If she still tries to push you around...
You have to just push her away "I get it, you're a private person. Unfortunately, buying and selling real estate is a big transaction, if you aren't willing to share how much you owe on your mortgage...I owe $100,000 on mine...then it makes me uncomfortable what else you're scared to tell me. I don't think it makes sense to continue chatting, do you?"
If she says "no", then drop it.
If she says "well..." , you've taken back control.
----
It's a lesson I'm still learning, and still fail at...because it's a lot of thinking on your feet until you'v edeveloped a good enough script.

But sellers don't want a 'nice, polite, 'I'll do anything, please sell me your house" person", they want someone who "respects them, emphasizes, but is confident in themselves." People trust confidence, not politeness.

People trust confidence, not politeness.
Good one. I like that.
0 Reply
Jerryll Noorden
Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
6y
Originally posted by @Joe Cassandra:
Like Jerryll says, if you just meekly reply "ok"...you've already lost the negotiation, and you come across as an amateur. The one who controls the conversation usually wins the negotiation.
Proper response is to take back control of the frame (read Oren Kleff's books) --- maybe chuckle to ease the tension and respond "I'm not asking what's in your bank account, [NAME], just asking how much you owe on your mortgage. If you owe too much, it might be a waste of time for us to continue this conversation."
If she still tries to push you around...
You have to just push her away "I get it, you're a private person. Unfortunately, buying and selling real estate is a big transaction, if you aren't willing to share how much you owe on your mortgage...I owe $100,000 on mine...then it makes me uncomfortable what else you're scared to tell me. I don't think it makes sense to continue chatting, do you?"
If she says "no", then drop it.
If she says "well..." , you've taken back control.
----
It's a lesson I'm still learning, and still fail at...because it's a lot of thinking on your feet until you'v edeveloped a good enough script.

But sellers don't want a 'nice, polite, 'I'll do anything, please sell me your house" person", they want someone who "respects them, emphasizes, but is confident in themselves." People trust confidence, not politeness.

This right there!
What he said!
0 Reply
Patricia Steiner
Real Estate Broker · Hyde Park Tampa, FL · Member since 2019 · 2k+ posts · 3k+ votes
6y
@Kirk R.
To your question, no, you don't go to the courthouse. It's online. Please spend some time exploring what is available online (everything is) and where to get it. You should know this...get curious, learn what information is available online (EVERYTHING is), learn/know your business. Winging it is what unsuccessful people do. Hold yourself to a higher standard.
1 Reply
Kirk R.
Peoria, IL · Member since 2013 · 967 posts · 383 votes
6y
Originally posted by @Patricia Steiner:
@Kirk R.
To your question, no, you don't go to the courthouse. It's online. Please spend some time exploring what is available online (everything is) and where to get it. You should know this...get curious, learn what information is available online (EVERYTHING is), learn/know your business. Winging it is what unsuccessful people do. Hold yourself to a higher standard.

Well just called Peoria county courthouse, & asked a person multiple times & different ways. I tried to get her to verify with another person, but she said she knew for sure. She said i can't get mortgage info at all. All, I can get is what they paid for the property.
It's been alot of years, but years ago, a county over I could get mortgage info. But, not sure if that information is online or not.
If OP is cold calling a bunch of people, (not sure his process), spending too much time researching may waste alot of time.
0 Reply
Patricia Steiner
Real Estate Broker · Hyde Park Tampa, FL · Member since 2019 · 2k+ posts · 3k+ votes
6y
@Kirk R.
Let me do this for you...first, go here:
https://recorder.peoriacounty.org/recorder/web/help.jsp
This tells you how you can look up documents online.
Then go here:
https://recorder.peoriacounty.org/recorder/web/login.jsp

It even says the "Public" search is free. This county only has records from 1987 to current available online...it tells you that in the margin.
Kirk, you're on your own now.
1 Reply
Kirk R.
Peoria, IL · Member since 2013 · 967 posts · 383 votes
6y
Originally posted by @Patricia Steiner:
@Kirk R.
Let me do this for you...first, go here:
https://recorder.peoriacounty.org/recorder/web/help.jsp
This tells you how you can look up documents online.
Then go here:
https://recorder.peoriacounty.org/recorder/web/login.jsp

It even says the "Public" search is free. This county only has records from 1987 to current available online...it tells you that in the margin.
Kirk, you're on your own now.

Thanks. That gives lots & lots of good Mortgage info online for free.
0 Reply
John K.
Wholesaler/Investor · Dallas, TX · Member since 2018 · 260 posts · 222 votes
6y
When I am dealing with a default lead of any type I frame my questions as if it could and probably is an accounting error on "Xs" side. So instead of saying, why are you behind on payments? I would say something like, The bank is stating that you have missed 2 payments, this is probably a mistake, correct?
This way I am not confronting that person and making them feel worse, about a bad situation. This puts them at ease and removes any embarrassment, because I want to put the blame on the bank. They will now open up and talk to me, and yes, admit that it is not a bank mistake.
0 Reply
Lydia R.
Investor · Austin TX · Member since 2016 · 1k+ posts · 2k+ votes
6y
@Fili Aguirre I think you need to have built some rapport with this person before you ask questions like this. Personally I wouldnt give that information out either. If you make a big deal out of it then seller will make a big deal. My response would be No problem Mrs seller, This question is on my list and I ask everyone. You dont need to share than information with me if you dont want to. At the end of the day I just want to make you an offer that will work for you as much as it works for me.
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Account Closed
OP
Rental Property Investor · Yuma, AZ · Member since 2019 · 637 posts · 46 votes
6y
@Lydia T. Thank you all of you! (The good and bad answers haha) thank you! This really helps. I have found that people also get mad when I ask "why not". One of them told me "its none of your f**** busines you a******".
Im learning. Thanks
0 Reply
Account Closed
OP
Rental Property Investor · Yuma, AZ · Member since 2019 · 637 posts · 46 votes
6y
@Matt M. Maybe it was you lol
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