BiggerPockets Real Estate Podcast - How to Get an Off-Market Seller on YOUR Side (+Most Common Objections) W/DealMachine

Episode Date: March 16, 2024

Tune into The DealMachine Real Estate Investing Podcast for more episodes just like this! Want to take down off-market real estate deals? You know, the properties you can get at the lowest prices and ...make a significant profit on? If so, you must know how to talk to off-market sellers. But, before you take your next seller phone call, you better be prepared to get hit with any of these nine common seller objections. And if you’ve been in real estate for a while, many of these sound familiar. But today, our friends at DealMachine will show you how to handle them like a pro. “I need to talk to my spouse.” “I need to think about it.” “My house is worth more!” These are just a few common real estate objections you may have heard before. So, how do you turn a standoffish seller into a motivated one? Jennie Hudspeth, sales trainer for top homebuying companies, is on to give her time-tested, expert knowledge on disarming even the most frustrated sellers so you can get on equal footing and make an off-market deal actually happen! Liked today’s show? Check out even more DealMachine podcast episodes here, where you’ll learn from wholesaling experts and the TOP off-market deal finders!  In This Episode We Cover: How to handle the top nine real estate objections you’ll hear from off-market sellers  The three things that will make an owner unsure about selling (and how to address them) The common “smokescreen” objections and how to bring back a seller’s confidence in you What to do when an off-market seller is fixated on an on-market sales price  Not wasting sellers’ time and ensuring they are in the position to sell their home Why should you NEVER say, “Can I be honest with you?” and what you should say instead  And So Much More! Links from the Show Find an Agent Find a Lender BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch Join BiggerPockets for FREE Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area Expand Your Investing Knowledge With the BiggerPockets Books Be a Guest on the BiggerPockets Podcast David's BiggerPockets Profile David's Instagram Rob's BiggerPockets Profile Rob's Instagram Rob's TikTok Rob's X/Twitter Rob's YouTube Listen to “The DealMachine Real Estate Investing Podcast” Get Your Next Off-Market Deal Faster with DealMachine Connect with Jennie: Jennie's Email Jennie's Instagram Jennie's LinkedIn Connect with David: David's BiggerPockets Profile David's Instagram Connect with Ryan: Ryan's Instagram Ryan's Website Check out more resources from this show on https://www.biggerpockets.com/blog/real-estate-bonus-2 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

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Starting point is 00:00:00 What's going on everybody? Welcome to the Bigger Pockets Rail Estate podcast. I'm David Green, and today I'm joined by Rob Abas Solo, and we are handing our mics over to bring you a special bonus episode. And this episode is all about how to turn a no into a yes. This is a skill that's super crucial if you're wholesaling or finding deals by directly contacting potential sellers, but this skill of getting past no in understanding the psychology behind it is really useful for any investor.
Starting point is 00:00:27 That's right. And nobody turns a no into a yes better than her friends. a deal machine. So today you're going to hear a conversation from the deal machine real estate investing podcast. David Lecco and his co-host Ryan Haywood will crack the code on how to handle the top seller objections with a firecracker guest who's quite the negotiation ninja. And make sure you stick around into the very end of this episode because we'll bring you an inspirational clip from the Bigger Pockets podcast archives and how mastering the skill of getting sellers to say yes changed one investor's career. But right now, let's turn it over to David and Ryan. From David and
Starting point is 00:00:58 Rob, here's David and Ryan. The Deal Machine, R-E-I. This one's for anyone who's looking for an off-market real estate deal, but they're uneasy with any seller objections that might come their way when they're speaking to somebody about buying their house directly. This is the Deal Machine Real Estate Investing Podcasts, where we help you 10x your income and acquire those off-market real estate deals. My name is David Leco.
Starting point is 00:01:34 I created a process that's helped 10,000 people close their very first real estate deal in all 50 states with a platform called Deal Machine, and my co-host is Ryan Haywood. He's on over 400 deals in St. Joseph, Missouri, right outside of Kansas City. What's up, Ryan? What's up, man? How's it going? In this episode, we interviewed Jenny Hudspeth, who's going to tell you the top 10 seller objections that you'll encounter and how to handle them. For the first objection that we're going to roll into today is you're in the seller's house and they're like, well, I actually need to talk to my husband before I'm,
Starting point is 00:02:11 make this decision or it could be really anyone else. And I was thinking about the deals that I've done. I have to say, none of my deals have actually had two decision makers. Every single one of my deals has been a single decision maker. So Jenny, welcome to the show. I'm sure that you're actually thinking, wow, David, if you've never done a deal from somebody that had two decision makers, you're probably not doing as many deals as you should be doing. I'm leaving money. I'm leaving money on the table. No, I mean, thank you for having me here. I definitely think that, you know, you kind of, you get what you can and you do what you can with what you have. And my experience with this customer, typically kind of the response that I would go to is, you know, hey, Mrs.
Starting point is 00:02:57 Johnson, usually when I get met with, I need to talk to my husband. It's people's nice way of saying, no. It's almost always one of three things. It's the price. It's the process or it's me and I did something wrong. Did I miss something? Gotcha. Or did I do something wrong? I want to, I kind of want to stay behind the customer, obviously, and continue digging. I'm going to dig my heels
Starting point is 00:03:22 in, because more often than not, this is a smokescreen objection. What if they are married, though, and they actually do need to talk to their spouse? What would you say in that case? So, in that case where, you know, I'm going to do my initial objection talk track first and just ensure
Starting point is 00:03:37 that this really is a main. you know, deal killer. This is really a really intentional conversation. I would say in my experience, Mrs. Jones more often than not, most couples have had a conversation like this before speaking with someone like me. How do you think that this second conversation is going to be different? How will the next conversation be different? And when you talk to your husband in the past, what did those conversations even sound like? And, you know, when you have that conversation, what questions do you think that he's going to ask so that we can talk about those first? Smart. So basically, you can turn the objection into them telling you how they think the conversation would go if they were present.
Starting point is 00:04:22 Absolutely. And I want to go through their past experience because it's going to bring up the emotions of those past conversations, especially between a husband and a wife. I want to know how she felt about those conversations in the past because more often than not, it's an emotional situation. It's not usually great communication. It's not something super fun for people to go through. And I do. I want to hear her perspective or his perspective on how does he think the conversation is going to go with his wife this time. And how is she going to feel about it? And what's she going to think?
Starting point is 00:04:54 And I want to prepare him and get him thinking about what are the steps he's going to have to take going through this with his spouse, with her spouse. So let's say you walk through those scenarios and then they actually, all are positive. And you're like, well, would you try to get under contract at that point? Or would you still schedule a time so they are both together? I think I would say, listen, I get the feeling that you're 99% ready to make this decision, but there's 1% holding you back. Am I, is the story that I'm telling myself true?
Starting point is 00:05:28 Or do you really think that your husband's going to say no? And if he says no, what are you going to do then? how can I support you if he says no? What support do you need if he says no? That's the better question. What support are you going to need if he says no? Here's something I want to ask onto this as well. Like what do they say when you say that?
Starting point is 00:05:54 Like what's a response when if you say, hey, what can I do better on the next conversation? Or what's that going to be like? What do they typically say? What's that sound like? What's their response to that? I mean, usually it's a little uncomfortable for them, right? They're like, well, I mean, I've had this conversation before. If they start to get uncomfortable, you probably should get excited because it is a smokescreen, right?
Starting point is 00:06:19 If they're if they're uncomfortable and not confident, we've identified this is a BS, you know, objection. And so I would just, you know, if I, if they get, I guess there's a if then, if they get uncomfortable, then I'm going to continue pressing because, and I'm going to address the elephant in the room. I think this is your polite way of saying no, you know, I'm going to address it. And I'm not scared because I'm confident that we have a solution that we'll meet their needs and that could help them take their next step. So if they get uncomfortable, I'm going to lean in. If they're confident in their responses with me, I'm going to take it as truth. And I'm going to offer my support.
Starting point is 00:06:55 So they're going to say they're positive. And they're like, yeah, absolutely. I'm going to talk to my husband. I'll call you back. I'm going to continue walking through this process. Hey, when, you know, when you call me back, what do you think that conversation's going to sound like? What can I expect when you call me back? Do you ask when to expect a callback?
Starting point is 00:07:18 I mean, yeah, I think so. Obviously, we want to kind of set some expectations, like, because the biggest way that relationships fail are unmet expectations. So, hey, when can I expect a call from you? I want to make sure that I'm available not out of an appointment. you know, it's important to me that I serve my customers at the highest level and that I live by our core values. And this experience for you matters the most to me. So I'm just going to communicate all of those things that matter. When can I expect a call from you?
Starting point is 00:07:47 What do you think that call is going to sound like? What happens if he says yes? What happens if she says yes? What happens next? So I'm always kind of getting them thinking about what that next step is and what are the steps down the funnel that they're going to have to take so that they're prepared. for whatever comes their way. You're listening to a special episode of the Bigger Pockets Real Estate podcast
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Starting point is 00:11:55 Welcome back, everybody. Let's pick up where we left off on this bonus episode from Deal Machines Real Estate Investing podcast. I think that the next one that I want to ask about ties in very good with this first objection because to me it's similar and we get it all the time. Weekly, I get this exact same response. It's the I need to think about it or let me get back to you. Typically, I, you know, when that happens to me, I kind of feel exactly like you explained, that is a smokescreen and I typically try to press a little bit harder. I'm like, well, what part of that do you need to think about? What is the hiccup? And so what is your coach on what to say
Starting point is 00:12:42 when they're like, yeah, let me think about it. I'll call you back. I see my smile. I know you do. My face just lit up. I'm actually, I love this objection. I have quite a bit of different talk tracks for it. I think the one most known objection that's kind of out there is, hey, when you say you need to think about it. What does that mean? Right? Getting clarity on their language because I don't want to just assume what that means. I want to get clarity. So the first one, hey, when you say that, what does that mean? And then one of my personal favorites is, hey, you know, I had a mentor tell me more time doesn't always equal a better decision. Usually more information does. What haven't we talked about? What questions have you not asked that you need to ask? What haven't we talked about? I love that talk
Starting point is 00:13:26 track. That one, that one's one of my favorite. And then also, I'm going, I'm going to go, I'm going to usually when I get met with, I need to think about it as people's polite way of saying no. I kind of like, listen, I get it. It's not every day that you sell a house. This is a big decision for most people. Ultimately, Mrs. Jones, you know, what's the it? Parentheses, what's the it that's holding you up? I got two more. Hey, I totally understand that you need to think about it. my job is to give you all the information that you need to figure out what you need to do next. It sounds like I failed to do that at this point. Can you let me know what I missed? Right? I must have missed something. I also think that triggers like some sort of sympathy. Like they don't want you to
Starting point is 00:14:10 feel bad. Like oh no, no, I know, no, you did fine. And then they may even get to a point where they start talking about real details. No, really. I, you know, I got to talk. You know, I got to talk. to my grandson about it because blah, blah, blah, you know, then they start getting to more details basically defending, no, you didn't do anything wrong. It's just that I have this piece to deal with, and that piece they hadn't informed you of. So by giving them that, hey, is there something that I missed
Starting point is 00:14:46 or that I didn't give you, that just triggers like a, in some cases, it's not always, but in some cases it triggers like, a sensitivity that are like, oh, no, no, it's not you. I just need to get this piece done as well. And it may give you another opportunity to uncheck or check a box that was not checked before that point. Absolutely. And I think it's important to identify usually when in the process this happens. We've been with this customer face-to-face, belly-to-belly for 45 minutes to an hour at this point. So I may say something like, hey, you know, we've been in, we've been at this, you know, we've had this, we've been talking for 45 minutes, or for an hour and 15 minutes at this point. Like, I wouldn't, I would not rest tonight knowing that I didn't do, I didn't serve you to the highest level and walk away knowing there's something that you didn't ask me. Are there something that you didn't tell me that could, that could allow me to support you better? So what is it that that's not being said? You know, I can kind of tie to their operating cost and their investment and the conversation.
Starting point is 00:15:55 We have together invested mutually an hour and 15 minutes of talking through the painstaking elements of your process. I wouldn't feel right leaving, knowing that there is something here that was not said. Like, I'm not doing my job if I leave you. I like that because it doesn't put pressure on them to make the decision, but it still does uncover something that they are not telling you. So that's really, really smart. The third seller objection that we wanted to cover today is,
Starting point is 00:16:27 I'm not ready to sell, but I want to hear your offer. And the place I heard this first was on the third deal that I'm doing. It was two doors down from a house of my second deal where I was renovating it. I noticed a tree had fallen on the house two doors down. And so I actually skipped trace to get the owner's phone number, and she had moved two hours away. It turned out to go help her daughter who'd had a baby and got through a divorce.
Starting point is 00:16:53 And she was not ready to sell. In fact, she had no idea this tree fell on her house. She had her hands full tending to her daughter. So she actually did want to know what I could offer her to just walk away from the house. But she told me, she's like, I'm not mentally prepared to sell. I actually gave her an offer.
Starting point is 00:17:11 And she went silent for a whole week. and ultimately I followed up about every day or every other day and nothing was too pushy. You know, one day I probably said the eyeballs emoji. Basically like, you know, did you see the last text? Or, you know, something like, you know, I'm here can cash you out within two weeks. You know, all I just need to hear from you is that you'd like to move forward, things like that. And she ended up accepting my offer. So I'm really glad that I went all the way through and gave her an offer even though she wasn't
Starting point is 00:17:44 ready to sell. I'm curious, Jenny, how do you handle those situations? This might also be like a tire kicker type situation where I knew the tree with her was kind of an issue, but sometimes people respond and they say this and they don't have a tree falling on their house and they're just kind of like a tire kicker. They want to know what the value of their house is without actually wanting to sell it. So I'm going to go back to, you know, hey, I'm not ready to sell. I want to hear your offer. back to, hey, when you say that, what do you mean? Right? Tell me more, right?
Starting point is 00:18:16 Those are always two really great, just open-ended, expository answer questions. What do you mean? Tell me more. Usually when I get this customer, I'm not ready to sell. Hey, listen, usually when I get met with, I'm not ready. It's really one of three things. It's the price. It's the process or me.
Starting point is 00:18:36 It's me. That's one of my favorite go-to responses, because now, we're going through and sifting through, you know, is it, is it me? Like, no, it's not you. Well, then it must be the process. No, it's not the price. So then it's the price. You know, and so we can kind of get that response out of the way. For the tire kicker, for the tire kicker, I would say, hey, you know, can I be 100% open with you? I don't like saying honest. This is just a nugget. Like, we don't say honestly in conversation because it makes it sound like we're dishonest.
Starting point is 00:19:12 An honest and other kids. Yeah, exactly. I totally agree. So we don't use the words like if I'm honest or honestly. Those are not. So I say, can I be 100% open with you? Like unguarded, unbridled? Can I be 100% open with you?
Starting point is 00:19:26 You know, hey, I'd really love to give you an offer today, but if you aren't willing or ready to accept it, it wouldn't do anyone any good. This offer is only valid for 48 hours. Let me ask you this. Once you have an offer, what's your next step? even going to be. Totally. And bring us home with that fourth objection. I get this a lot to, or our team gets this a lot when we are doing the follow-ups. It's, I can't talk right now.
Starting point is 00:19:55 Okay. So this one, I think, like you said, is usually over the phone. If you have somebody who's calling and setting appointments for you, you'll get this on the front end side as well as in the follow-up on the back end. I like the talk track like, oh shoot, hey, listen, usually that's people's nice way of saying no. Let me ask you, do you actually want me to call you back and talk through your options for selling? Or are you just politely trying to tell me no, literally, never call me back again because I don't want to answer the phone.
Starting point is 00:20:28 Right. I tried to have some fun with this over the phone and show my personality. I'm a goober, so I'm going to try to make them laugh. they want to hear a real human on the other end of the phone so I'm going to change the inflections in my voice and I'm going to say are you trying to tell me literally never call me back again because I don't want to answer like I'm going to lean in there just a little bit um I like on the again that was really more for the lead side on the front end um again on the front end hey listen 99% of the time that's what most people say and I totally understand I'm calling you at a random time during your workday and you don't know me for my But listen, like, have you been exploring a cash offer or am I barking up the wrong tree? Like, a top track like that would honestly engage a seller because it doesn't sound call center-e. It doesn't sound salesy. I sound like a normal human.
Starting point is 00:21:23 And that's one of the most important things that we can do on. Right. It's sounding like a human. No necessarily reading a script. I love that. Yeah. So I always, and again, I'm from the South. So saying something like, I know you don't know me from Adam.
Starting point is 00:21:37 Ryan, sorry to cut you off. We've got about 10 minutes in our slot, so I wanted to make sure we got to the last five objections. This other one, and please continue to finish that off. The fifth one is, can you call me back? I just curious, because it seems similar to this one. I can't talk right now. Yeah, so I've got a few more. So on the last one, I can't talk right now, or can you call me back?
Starting point is 00:21:58 Hey, you're probably in the middle of something. I made an assumption that you were free to talk. I apologize. Can you help me out real quick before you go? do you actually want me to call back and talk to your options or am I bothering you? Like getting to something like that, I love that. When they say, can you, you know, can you call me back? Sure thing.
Starting point is 00:22:17 But listen, it's just like we've called you a few times at this point and the story I'm telling myself was I'm actually really bothering you and you don't want to tell me the truth. Are you actually trying to sell your house or am I bothering you? So I'm going to change my tone and I'm going to lean in. I'm going to tell them what I know to be true. I like to use the actual number of calls. Hey, we've called you 47. You know, the story I'm telling myself is I am bothering the mess out of you.
Starting point is 00:22:44 And you just don't want to tell me that's true. What about... Read number six. What about when they go and say, well, before I do it, I need to do this, this, and this before I can accept an offer or sell it? So, hey, I kind of like asking the question, hey, what do you expect will happen? if you did those things before selling. Like what are your expectations once you do those things?
Starting point is 00:23:10 What do you expect it will happen? I like the top... And they say I'll get a better offer if I'd do it. Because this happens. I get this one often. They're like, well, I'd get more money if I'd do this. So most people in your shoes consider three main things, not just money.
Starting point is 00:23:29 Time, energy, and money. Yeah. Have you thought through how much time it's going to take to pursue that? Have you thought about how much energy you're going to have to expend doing that? And lastly, how much money do you think it's going to take? And then I would say something along the lines of by investing that amount of time, that amount of energy and that amount of money, what do you think you're going to get in return? Is it worth it? Does what you are expecting outweigh how much you're going to have to personally invest in this?
Starting point is 00:23:53 And then I would say, hey, what happens if it doesn't? What are you going to do if you go through all of this and the return doesn't outweigh your investment? What are you going to do? And then, yeah, I think that's a pretty good. I love the time, energy, money talk track. That's one of my favorites because people tend to only, like especially, even acquisition managers, this is a really important note for you guys going out and locking up deals, going face to face with the seller. It's not just about the money.
Starting point is 00:24:23 Like, it is time that they have to invest, time away from family, time invested in this situation. It is energy expenditure. It's not just active fixing the property. It's the mental turmoil as well. Like I can't, you know, most things mentally are draining. So it's time, energy, and money. We want to make sure we're not just focusing on an offer that we're really focusing on solving their situations and circumstances. All right.
Starting point is 00:24:51 We have to take one more quick break, but stick around for more from Jenny Hutzbeth and Deal Machine on this special takeover episode. If you own a short-term rental, here's something worth knowing. Not all landlord policies are built for your type of property. And with holiday bookings, chilly weather, and higher guest turnover, having the right coverage is more important than ever. Steadily offers insurance designed specifically for short-term rentals, covering property damage, liability, lost rental income, and even unexpected issues like bedbugs. Steadily works exclusively with real estate investors.
Starting point is 00:25:25 So they understand the details that make short-term rentals unique and they build coverage to match it. A quick review of your rates and coverage every year can have. help you protect your property and your cash flow. Get a quote in minutes at biggerpockets.com slash landlord insurance. Steadily, rental property insurance for the modern investor. For decades, real estate has been a cornerstone of the world's largest portfolios. But it's also historically been sort of complex, time-consuming, and expensive.
Starting point is 00:25:50 But imagine if real estate investing was suddenly easy, all the benefits of owning real, tangible assets without the complexity and expense. That's the power of the Fundrise flagship fund. Now you can invest in a $1.1 billion portfolio of real estate, starting with as little as $10. The portfolio features 4,700 single-family rental homes spread across the booming sunbelt. They also have 3.3 million square feet of highly sought after industrial facilities, thanks to the e-commerce wave. The flagship fund is one of the largest of its kind. It's well diversified, and it's managed by a team of professionals.
Starting point is 00:26:24 And it's now available to you. Visit fundrise.com slash BP Market to explore the fund's full portfolio. check out historical returns and start investing in just minutes. Carefully consider the investment objectives, risks, charges, and expenses of the Fundrise Flagship Fund. This and other information can be found in the fund's prospectus at funrise.com slash flagship. This is a paid advertisement. Did you know your house gets bored when you leave?
Starting point is 00:26:46 I can't actually prove that, but it probably misses out on the action, the footsteps, the late night fridge raids. Yeah, when you're gone, your place is basically on unpaid leave. It's sitting there in the dark thinking, I could be. contributing right now. Your side room wants a side hustle. Even your Wi-Fi is like, we could be networking. You're on vacation, spending money like it's a sport while your staircase at home is fully capable of sending your income upwards. Here's the twist. You can go on a trip and actually earn money. Airbnb makes that possible with the co-host network. If you're away
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Starting point is 00:30:00 Ryan, like, have you ever encountered that before? That's also one of those, it's often. It's a few times a month. We'll go out, look at the property. We, in our evaluation process, we've already determined what we're going to spend on the rehab and figuring out the ARV. So to me, it's always like when they're like, well, I don't. looked it up on Zillow and it says this. Yeah. And I'm like, hmm. So this one, this one, I, um, usually this, when you get met with this, it's because we haven't addressed it earlier in our
Starting point is 00:30:35 process, which is a misstep. So if you get met with this on the back end in your offer presentation and negotiation, it's because you were out of process earlier. So I would be really mindful when you're out and you're going to this property at the beginning of your process to make sure that you say something along the lines of, hey, you know, hey, listen, I was looking, I was looking online and I noticed there were properties that ranged from 50,000 to 160,000 in the neighborhood. Where would you put your house on that scale? And so they are, so now you see, and I go to Zillow and I just pull the lowest number and the highest number in that square radius that it shows. And I'm going to tell them, hey, I was looking online. This is what I saw.
Starting point is 00:31:14 What do you think about it? And then I keep moving forward in my conversation. What was the neighborhood like when you first moved in. So I kind of drop that anchor of Zillow early. But if you get it on the back end, hey, you're probably right. Usually we're not first people's option. It sounds like the most important thing for you is getting the retail value, no matter how much time and energy and money that you have to invest in this. So let's talk through that. Let's talk through what that would look like. If a realtor came out here, what do you think they would say? I always love to say, I'm not your highest and best offer, but if you want a quick offer
Starting point is 00:31:51 and one that you can count on, I'm your guy. I always say that at the beginning because I don't have patience to deal with people who are going to be like tire kickers. And it's really, it feels good to be transparent and honest in a world where so many people are getting into wholesaling.
Starting point is 00:32:06 They're wondering, like, should I tell them, like that I'm not going to be the highest offer and it just kind of relieves that stress you might be feeling. Just wrap things up. We've got like just a couple of minutes So I'm curious like Ryan Could you read the next one real quick
Starting point is 00:32:22 Just to make sure we get through all 10? Yeah it's this is your This could happen and I'm not interested When you ask them if they would be interested in selling Where you make your offer I'm not interested Yeah I actually received a call from somebody Frank and he's like hey remove me from your list And I say hey no problem what's your address
Starting point is 00:32:43 And he says you you should have it you mailed me called me. Yeah, exactly. So it took a while to get him to realize that I do mail a lot of people. And just by his phone number, I don't know who he is. And it ended up coming out that he's getting so much mail because he's going through a divorce and everyone's trying to take advantage of him. And I asked later, after I kind of acknowledged that that might be really frustrating. And I said, well, do you think at some point in your divorce process that you will need to sell your house? And he said, yes. And so that was like an amazing. I'm not interested, turn around that he was so mad, that he finally was able to, like, yeah, I probably will need to sell it, you know. Yeah, I think that that's a really great talk track right there. Like, you're probably getting called 97 million times, and you don't know me at all. I figured you'd say something like this, you know, kind of going down that talk track of you're probably experiencing a lot of this, and I can imagine that that's overwhelming.
Starting point is 00:33:43 I'm not trying to be a thorn in your side. I'm a local investor who buys property in your area. Have you even considered selling this property? Or is that something that you'd want to talk about at all? I'm here to support you. I kind of, you know, I like that talk track. If they say I'm not interested, sometimes I play dumb, which, you know,
Starting point is 00:34:03 I think maybe as a female, it's a little bit easier than necessarily as a male. But like, are you telling me that the information I have is wrong? Like, oh no, oh no, this happens sometimes. that most people I call are exploring a cash offer or at least considering their options to sell and I'm going to be quiet. So that's kind of, that's like, hey, most people that I'm calling, they're exploring this. How do you think you wound up in front of my computer?
Starting point is 00:34:32 And they're like, I don't know, you know, sometimes they may lean in, sometimes they may not. 30 second fire round. Here's number nine. I've got an offer and somebody's coming behind you to give me another. offer? So this one, this one is a tough one, and this one is one of the most frequent ones that we're getting, especially in these hyper-competitive markets. So I would say, hey, listen, I get it. Most people are willing to search for the highest offer. Most people are willing to search for the highest offer. That language is key. I think we want to attack, just like the price, the Zillow, we want to attack
Starting point is 00:35:09 this earlier versus later. So when we're setting expectations with this customer, if we're in a hyper-competitive market, this is what I would do to set expectations. Hey, before we get started, is it okay if I tell you a little bit about what's going to happen and what my experience is and buying these houses? And they're going to be like, yeah, sure. Usually when I get started, most people ask me two questions. What's your process and what's your offer? I definitely will answer those questions for you, but I also hope to answer a few more.
Starting point is 00:35:37 And I would say, like, what kind of company do I work for? What is my company value? What's most important to me in this process is that I represent our company at a high level, I hold our core values, and that this experience for you meets all of your hopes and expectations. Is it okay if I share some of those things with you also today as we walk through this process? So, prompting it on the front end, it's, guys, most people in this situation go to, hey, listen, I understand you're filled in offers. If you could just give me a call once that person gives you an offer, I'll match it or beat it. And honestly, you just affirmed in their
Starting point is 00:36:14 mind that you are the sneaky, the sneaky sleazy salesman that they thought you were, that you're the grandma house dealer that they perceived. Because you said you're going to give them your fairest offer. And then at the end, you're like, hey, call me back and I'll beat it. We just affirmed that we are not trustworthy. We are not transparent. We are not genuine. I want to tell him, listen, I'm not in the, I'm not in the business of doing the nickel and dime song and dance. I'm not here to penny you to death. I'm here to support you as you take this journey and you figure out what your next steps are going to be. I lean more into the experience than I do the offer. Every single time you are going to catch so many more flies than that way with honey than vinegar.
Starting point is 00:36:55 So we want to care more about the person and their experience than we do about the end result. Okay, last one. Definitely, we're on time, but I bet I can talk Jenny into doing a 60-second video for Instagram at D. Leco. We can collaborate on it for this 10th one. So go check that out there. Jenny, thank you so much for showing us the way that you're navigating these sales conversations in an organization that's doing a thousand plus deals. Jenny, where can people find you other than on our Instagram collaboration post?
Starting point is 00:37:28 Yeah, absolutely. You guys can find me at rei-salestools.com or you can email me at Jenny, J-E-N-N-I-E at R-E-I-Salestools.com. Thank you, Jenny. All right, thank you all for listening. That was the Deal Machine Real Estate Investing podcast, and we want to thank Jenny, David, and Ryan for teaching us these priceless techniques to gracefully get sellers to say yes. You know, this conversation reminded me of a guest we had on the Bigger Pockets Real Estate podcast a few months ago on episode 883 specifically with Terica
Starting point is 00:38:01 Lynn Smith. And she's now a successful investor in Louisiana and even teams up with builders to develop more affordable housing in Louisiana. But Terica told us that none of this would be possible without one key turning point in a real estate career, and that turning point was listening to a CD that taught Terica how to respond to every possible seller objection. As soon as I get in the car, I get out the car. You know, if I'm in the shower, I have the cassette playing in the bathroom. Like, I'm constantly doing it and I'm constantly role playing. So now when I get on the phone, I need enough tenacity to be able to get prepared for these nose I'm about to get. Because I already know Ms. Jones is about to tell me, no, I already know I'm
Starting point is 00:38:42 about to get like 10 of them nose, right? So I got to prepare myself to be able to get to the yes with all of those nose. And for me, once I had that mindset, I was like, yo, that's really cool. Thanks, Rob, and it really is a great discussion. Again, that's episode 883. For Rob Abbas Solo, I'm David Green, and we'll see you in the next episode of the Bigger Pockets Real Estate podcast. Thank you all for listening to the Bigger Pockets Real Estate podcast. Make sure you get all our new episodes by subscribing on YouTube, Apple, Spotify, or any other podcast platform. Our new episodes come out Monday, Wednesday, and Friday. I'm the host and executive producer of the show, Dave Meyer.
Starting point is 00:39:38 The show is produced by Ian K. Copywriting is by Calico content. And editing is by Exodus Media. If you'd like to learn more about real estate investing or to sign up for our free newsletter, please visit www.com. The content of this podcast is for informational purposes only. All host and participant opinions are their own. Investment in any asset, real estate included, involves risk.
Starting point is 00:39:57 So use your best judgment and consult with qualified advisors before investing. You should only risk capital you can afford to lose. And remember, past performance is not indicative of future results. BiggerPockets LLC disclaims all liability for direct, indirect, consequential, or other damages arising from a reliance on information presented in this podcast.

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