When my phone rings from a seller, my assistant Lisa is the one who takes the call, and she thoroughly screens the seller to see whether they are motivated or not. If the seller is motivated enough she passes their information along to me.
Once I get the information sheet, I evaluate the deal and then prepare multiple offers to the seller; I also try and call them back the same day or the next day. If all goes well on the phone call, I try and schedule an appointment as soon as possible, but there are times it ends up being a few days – even a week.
When this happens there are several important things I do to make sure that I don’t let this deal slip through my hands.
First, I send the seller a thank you note for giving me the chance to talk with them and the chance to set up a visit with them. Never underestimate the power of a simple thank you note as there is no doubt in my mind this act has helped me close several deals over the years.
Next, I send the seller an information packet about my company. This packet gives an overview of what I do, how I help people, and how my company is different from other real estate companies. Most importantly, the packet also includes several testimonials from past sellers that I’ve helped out. Since I’m frequently investing in the same areas I make sure to put the city and state after the testimonial so the seller knows that I have helped many people close by them.
Just like thank you notes are remarkably powerful, so are testimonials. You should ask every single seller you assist to write you a testimonial. Of course, not all of them will give you one, but be persistent, even if you have to remind them a few times.
I know that my testimonials have also helped me close deals just like the thank you notes. The reason for all this is if you have to wait several days to meet with a seller, they will probably talk with other real estate investors. And I can pretty much guarantee you that no other investors are sending them thank you notes and information packets full of testimonials.
Therefore, when you show up at the visit to meet the seller for the first time, they will already be highly impressed with you, and it will be much easier to close the deal. Instead of showing up as a stranger, you’re showing up as a professional who has already taken the time to correspond with them beforehand.
The best part is, all of this is so easy to do, which is why it blows my mind that almost nobody does this. Of course, it’s because most people are lazy, but in my experience lazy people do not become wealthy.
So from now on, if it’s going to be a few days before you meet with a seller, send them a thank you note and information packet as soon as you get off the phone with them.