Epic Real Estate Investing - How to Overcome the Two Objections that are Costing You Deals | Financial Freedom Friday

Episode Date: July 4, 2014

If you're getting objections from your Sellers, that's good news. It actually increases your chances of getting a deal done, if... you can overcome the objection. Overcoming objections is little more than proper preparation. Matt covers two of the most common objections you're getting from your incoming phone calls. Don't ignore this one!   It's Financial Freedom Friday!   ------------------------- Download Matt's free real estate investing course "How to Do Deals | No Money Required" at FreeRealEstateInvestingCourse.com or text FreeCourse to 55678 "Click" what interests you most:  Education Properties Income Coaching Learn more about your ad choices. Visit megaphone.fm/adchoices

It's time for Financial Freedom Friday with Matt Terrio. All righty. So last week on Financial Freedom Friday, I covered the objectives of the calls, that first call that you receive from your motivated sellers, the sellers that are responding to your marketing. And I went over the three questions that you need to ask every seller who calls you. So if you missed that, make sure you go back to that last episode, just the Friday before this one, and listen to that before you listen to this episode.

Okay. So today, what I'm going to cover are the common objections that are easily overcome, but can throw you off if you aren't prepared for them. These objections, they stop a lot of people dead in their tracks and cause them to blow the entire call simply because they just weren't prepared. So I'm not going to let that happen to you. That's not going to be you. Not on my watch, all right? So when people blow calls, it's usually because they're asked one of these questions that often come right at the beginning of the call. I mean, as soon as you answer the phone, you say, hello, you're going to hear something like either, how did you get my information, or why did you send me this letter? Okay, it's going to be one of those two things.

And for some reason, these questions, they incite panic, probably because they're not often asked in dulcet tones of understanding, but rather in an accusatory and defensive demeanor. I mean, you don't frequently get, I'm so happy that you sent me this yellow letter. Sometimes you do, but usually not. Okay, so when they ask you those questions, how did you get my information or why did you send me this letter? Here's what you're going to do. And listen up. This is important. This is really important.

More important than you could probably think if you've never done it before. So first, know that you're going to match the tone in which that caller asks the question. Meaning, if they're forceful in the way that they ask the question, be forceful back with your answer. Not rude, just matching the tone. If they're curious, mimic that intonation. Match the tone and attitude of the caller. Look, they don't know you as a person. So treat the call as an acting opportunity

and see how closely you can mirror their tone. I mean, it can actually be very fun. It is fun and very lucrative when you get the hang of it. Okay, so the words that you're going to respond with are in the tone of how they ask the question. These are the words. Well, I'm glad you asked. I buy properties in the area and your property fits my criteria.

So you received one of my letters. You know, most people don't call me back at all, but those that do are typically open to selling. Is that your situation? Just like that. And always end with the question. The person asking the question is the person controlling the conversation. If they say yes to your question,

then just roll right into the three questions that we covered last week. in this call is just like any other call. But if they say, no, you can either say, okay, thanks, take care. Or if you've got time and are feeling chatty, you can dig a little bit deeper and say something like, all right, so I can appreciate that, but I'm just curious. You did call me. May I ask you what it was about my letter that inspired you to pick up the phone? Sometimes they'll be like, oh, yeah, I did call you.

and what that's going to do is that that will incite the three-question conversation, the one that we covered last week. Or you might gain insight as to what part of your marketing is working well. Either way, good stuff. Wasn't a total waste. And the other question that you'll frequently hear comes when you ask for their name and their property address. I mean, sometimes you'll get a rather snarky response of,

well, you sent me the letter. You should know. I love this one. So again, match their tone and respond with something like, Mrs. Seller, Mr. Seller, I send a few letters a day. I have no way of knowing the name or address of every person that calls me back. You know, most people don't call me back, but you did. Have you already decided that this call will no longer make sense for you?

Again, match the tone and end with a question. If the answer is no, this doesn't make sense. Great. Peace. Goodbye. You've quickly sorted this person into the suspect pile. In fact, you're trying to get a no as soon as possible, as soon as you can, so that you can get back to your day and on with more important things than chatting with unmotivated, snarky sellers. That's not a good use of your time.

Do me a favor, though. Whatever happens, don't take these calls too seriously. Don't take them personally either. Just relax. Match the tone of your caller, have fun with it, and act like it. it's no big deal. Because it isn't a big deal. You do this every single day.

It's no big deal. When someone calls and it's not a deal, remember these words. Great. Not looking for you. Next. Oh, not looking for you either. Next. I'm not looking for you.

Next. View these calls as practice. And then after you've practiced on dozens of suspects, when you do get a motivated seller on the line, you'll be amazed at how smoothly it will fly. It will be effortless and you'll set the appointment to meet the seller without a problem. You'll hang up the phone and say something like, huh, that was easy. So go out and practice, have fun, and remember you're going to encounter some skepticism. But don't let it throw you.

You do this every day. You're a pro. It's no big deal. I'm Matt Terrio of Epic Real Estate and I will see you next week on another episode of Financial Freedom Friday. This podcast is a part of the C-suite. Radio Network. For more top business podcasts, visit c-sweetradio.com.