Epic Real Estate Investing - How to Talk to Prospects and What to Say| Episode 195

Episode Date: February 22, 2016

After you have consistent lead generation and consistent follow up systems in place, it’s time to focus on how to capitalize on the leads that come through your sales funnel.  So today Matt is expl...aining how to use industry best practices and proven sales, negotiation, and psychology skills to get the deal more often.  We’re talking mindset, prospect sorting, likeability, intention, and how to deal with common questions and objections.  Grab a pen and paper because today’s podcast can easily catapult your business to the next level!  Enjoy! ------- The free course is new and improved!  To access to the two fastest and easiest strategies to a paycheck in real estate, go to FreeRealEstateInvestingCourse.com or text “FreeCourse” to 55678. What interests you most? E.ducation P.roperties I.ncome C.oaching Learn more about your ad choices. Visit megaphone.fm/adchoices

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Starting point is 00:00:00 There are two steps to wealth. First, stop doing what poor people do. Second, start doing what wealthy people do. The wealthiest people work their strengths and hire their weaknesses. If only you had the time and resources to do it. Now you do. We're VAs for Real Estate.com, and we have some free information for you. Get the five-step shortcut to hiring a rock star virtual assistant that will make you millions.
Starting point is 00:00:33 Go to VAs for Real Estate.com. Stop doing what poor people do and do what wealthy people do. VAs for Real Estate.com This is Terrio Media. Broadcasting from Terrio Studios in Glendale, California, it's time for. Epic Real Estate Investing with Matt Terrio. Yeah. What's up?
Starting point is 00:01:07 Hello. Yeah. Hello. Hello. Welcome. Welcome to the Epic Real Estate Investing podcast, the place where I show people how to escape the rat race using real estate. All you got to do is just shift your focus from making piles of money to making streams
Starting point is 00:01:22 of money. Change that one thing just one time. And you are on your way to financial freedom. It's not the most exciting path. I promise you. It's rather boring. It is the fastest. And then once you get there, life then is no longer boring.
Starting point is 00:01:35 It becomes very, very exciting because you get to do all kinds of things that you want to do that you couldn't do before when that money keeps coming in month after month after month. And I start this show every single week darn near with the exact same message. But are you doing it? Have you shifted that focus? Are you focusing on creating streams of money? Or are you still out there trying to stack those papers, stack them chips, make them piles of money? Hey, nothing wrong with either.
Starting point is 00:02:00 them. I'm just saying if you ever want to be financially free, you've got to eventually make that transition to streams of income. All righty? So how's your year going so far? Speaking of that, do you get your lead generation automated? Very important. How many lead generation sources do you have? If you don't have at least three working around the clock for you, you should probably put that on your to-do list. You know, direct mail, bandit signs for sale by owners, yellow letters, online classifieds, you know, mining your database for referrals, working with other investors, creating strategic relationships, auctions, both online and off, Google pay-per-click, short sales, HUD, all kinds of options out there for you.
Starting point is 00:02:41 You need three. You really need three at least. You need those three to generate consistent leads. And whether it's three or more or less, your streams of leads, they're going to ebb and flow. And you want to make sure while one is ebbing, you've got another one flowing. That's why you want multiple streams of leads because your lead generation is the foundation of your business. The quality of your leads is in the consistent quantity of your leads. You need a lot of leads, but you need them consistently too. The consistent quantity of your leads. And whatever challenges you may be experiencing in your business, understand that more leads
Starting point is 00:03:18 fixes everything, but only to a point, meaning you actually have to answer the phone when those leads call. You have to return their call when they leave a message. And you have to return their call even when they don't leave a message. And you have to keep on calling. You've got to keep on following up. Are you doing that? Are you doing that much?
Starting point is 00:03:38 And can you honestly say that you're reaching out to the leads that you generate eight to 12 times for each lead, at least? If you aren't, there's something else to add to your to-do list. Because 80% of your results are going to come between the eighth and 12th contact with that lead. Only 2% of all the opportunity that's within your lead generation efforts. Only 2% of the business that's going to be closed is closed on that first contact. All right. So you've got to get through eight to 12 times. That's where you're going to capture 80% of all the opportunity that's in there. So if you're not doing that, that's something else to do to your list. You've got to
Starting point is 00:04:16 follow up. Now, if you're doing all that and you're not getting the results that you want, This is what we got to do. Well, let's put it this way first. If you aren't getting the results you want out of your business, you got to get all of that in order first. Do that first before you do anything else. Consistent lead generation and consistent follow-up. Consistent contacting.
Starting point is 00:04:37 Got it? Consistent lead generation, consistent follow-up. If you're not getting the results that you want out of your real estate, you should do nothing else until you get that in order. Got it? So if you've got that in order, let's go over what there is to do next. And we'll do that in 30 seconds, right after this. Attention.
Starting point is 00:04:55 Attention. Shocking website reveals that shocking websites aren't really that shocking. All kidding aside, go to find motivated sellers ASAP.com to get the inside scoop on how the nation's most successful real estate investors really find their deeply discounted properties. Go to find motivated sellers ASAP.com. Deeper discounts. Less secrets. Find motivated sellers ASAP.com. All right. Your leads are coming in, right? And you're still not doing as many deals as you'd like. What is there to check next? You got your leads coming in, you're contacting your leads, you're following up, but you're still
Starting point is 00:05:30 not getting it done or you're not getting the results that you want. So what do you check next? Well, let's go over what you're actually saying to your leads when you do talk to them. And I'm going to give you the exact words to say, but like so much of this business or any business for that matter, we've got to get your mind right first. And here's what I mean. You know, you've made significant investments of time and money into your lead generation. And you're looking for the payoff, right?
Starting point is 00:05:54 You know, depending on your situation, you may need this investment to pay off sooner rather than later. Perhaps you're reaching the limit on your credit cards or perhaps your spouse is on your back to produce some results. Come on, get to it, right? Perhaps you've got a job that you're just dying to quit. I understand. Fast results are better results. I got it. You know, every time the phone rings, you're expecting a deal, right?
Starting point is 00:06:17 You're expecting someone who's willing to exchange some equity for you to solve their problem. That's what you're expecting. but you're going to get some leads that will fail to meet your expectations, right? If you've even spent one day in this business, you certainly know what I'm talking about. We call those leads suspects. But you will get some leads that do meet your expectations, and we call them prospects. And to make sure you spend the majority of your time with the prospects that will meet your expectations, we're going to cover exactly how to sort the prospects from the suspects.
Starting point is 00:06:50 And a first step in doing that is having an idea as to what, the person on the other end is expecting. We know what you're expecting, but what are they expecting? There's a wide variety of expectations coming from the other side. And a few are, a few of them actually even hoping that you will be able to solve their problem. But there's a lot of other stuff that you've got to work through. But for this to really work, for you to really be effective, you'll have to put yourself
Starting point is 00:07:14 in your leads shoes, in the person that's calling you. You've got to put yourself in their shoes. You see, the person calling, they just received something in the mail. or just some sort of communication from you, right? They've got this communication from somebody with some sort of message alluding to that the person that sent it can buy their house for cash and do it fast.
Starting point is 00:07:38 That's what they're reading. But what are they thinking? Right? That's the message you sent. That's what they read. But what are they actually thinking? Well, they're thinking all kinds of things, but they're thinking things that you probably don't want them to think.
Starting point is 00:07:53 They're thinking this is too good to be true. Or they're thinking you're some kind of shark. Or this is some sort of scam or you're out to steal their house. It's not going to be a real offer. Sure, he might buy my house if I gave it away, but he's not going to give me a real offer. He's not going to give me real money for it. This is probably going to be a waste of my time.
Starting point is 00:08:10 There's a lot of variations of that. And it can all be summed up into their guards up, right? They're protecting themselves. Their guard is up. We live in a world now where you kind of have to do that. So before you answer the phone, you must understand that's the likely disposition of the person calling you. That's their mindset. That's their expectation for this not to work.
Starting point is 00:08:32 Another thing to keep in mind is you're reaching out to people that likely have some sort of problem. Right? They've got some sort of distress going on in their lives, whether it's personally or financially or with the property itself. That's typically how, that's who we look for. That's who you're looking to contact. So they've got something going on. And they're calling you, likely with two things in mind. First, can this person really solve my problem?
Starting point is 00:09:02 And I might not even give them a chance to because I'm so cynical and resigned about it. But can they really solve my problem? That's the first thing that they got their thinking. Second thing they're thinking is, can I trust them not to make my situation worse? Can I trust this person? So their guard is up. And that's okay. Just understand that it's not personal.
Starting point is 00:09:25 It is not personal. They don't know you. So how could it be personal, right? They don't even know you. So they've got their guard up. And it's your job to get them to drop their guard or what I like to call to disarm them. You've got to disarm. So I'm going to give you the exact words to say in a minute.
Starting point is 00:09:42 But it's how you say them that is probably more important. So here are some techniques for disarming motivated sellers of how to say the words that I'm going to share with you. So one, you want to be respectful. Okay, you've got to be respectful. Two, you've got to be interested and not interested in how you're going to get a great deal on their house right now, but interested in them, interested in their situation, and interested in how you can help them. That's your job, right? You're a problem solver.
Starting point is 00:10:14 You're out to solve their problems in exchange. change for some of their equity, but you've got to solve their problem first before you get the equity. So you've got to be interested in them in their situation and how you can help them. Three, you've got to find common ground. For example, if they're a landlord, say, if they're an absentee owner, they got some properties and they're complaining about their tenants, relate how you've had some bad tenants before. Also, if you learn they're into, you know, golf or tennis on the weekends, say they're into
Starting point is 00:10:41 tennis and you used to play tennis in high school. Maybe that's something you want to bring up on that conversation. to create some common ground. If you used to work in, say, in their industry, find out what they do for a living. And you used to work in that industry or you know someone that did, you know, relate. Find common ground.
Starting point is 00:10:56 Bring stuff like that up. All right. So that's number three. Number four, build rapport. And you build rapport by implementing a lot of these first three tips that I just gave you. And you want to be respectful. You want to be interested.
Starting point is 00:11:08 You want to find common ground. And you want to ask questions. You don't want to do a lot of telling it. right now. You don't do a lot of statements, making a lot of statements and, you know, expressing your opinion right now. You want to be asking a lot of questions. You want to be interested, remember? Interested people ask questions. And I want you to ask questions and listen to the answers. Genuinely listen. Because you're trying to hear what their problem is so you can help them, right? Listen to their answers as if there's going to be a test afterwards. Number five, flattery, right?
Starting point is 00:11:42 Flattery. There's an expression flattery will get you everywhere. Now, I'm not going to say it's going to get you everywhere in your real estate investing business, but it will get you far down the rapport building road. And here's what I mean with regard to flattery. I mean, for example, say they're upside down on their property. Acknowledge them, how they've been able to, although they're upside down, and how they've been able to hold on to it for this long as so many other people that you talk to have lost theirs. Or if they've got some equity in their house.
Starting point is 00:12:09 Flatter them. Acknowledge how good they've done as so many people you speak to have lost all of their equity. All right. So flattery. Tip number six. Mirror them. Okay? Mirror them.
Starting point is 00:12:22 Meaning if they're talking slow, then you talk slow. Got it? If they talk loud and fast, then you talk loud and fast. And you may feel a little silly doing this at first. But remember, they don't know you. They have no idea who you are. They don't know you. So just do it.
Starting point is 00:12:43 Have fun with it. And keep this in mind. people like people that are like themselves. So be like them. You're finding common ground. You're mirroring them. You're flattering them. I mean, nobody will rejects a compliment, right?
Starting point is 00:13:00 And once you go through this and you do this a few times and you start incorporating these tips into your conversations, it doesn't even matter what you're saying at this point. Just embracing this rapport building skills. Once you've done this a few times and witnessed the results, you're not going to talk to leads any other way because it works. Next, let's talk about the intent of the call when you're talking to the lead. Let's make sure your intent is in the right place. I mean, are you closing in for the kiss too soon? You know, that first date, are you leaning in for the kiss as soon as you pick her up?
Starting point is 00:13:32 You don't want to do that, okay? The intent of your calls with your leads is to first determine whether or not you have a suspect or a prospect. You've got to determine which is one of the other. That's the first intent. prospects being the ones you're looking for, a suspect. They may want to sell, but a prospect needs to sell. That's who you're looking for. Sellers with such motivation that they need to sell.
Starting point is 00:13:57 So that's the first intent of the call. The second intent, if you have determined you are speaking to a prospect, a truly motivated seller, the second intent is to set an appointment to view the property. Don't try to close the deal right over the phone. I mean, you know, there'll be one in a million opportunities where you can even do that anyway. So don't try to close the deal right over the phone. Set the appointment. Whether it's for you or your partner or your spouse or your friend or your realtor, your contractor,
Starting point is 00:14:28 you know, the second intent is to set an appointment to view the property. So we've got expectations and we've got the perceptions established. We've got the, they're calling with their guard up. It's your job to bring that guard down and we do that by building rapport. And we've got our intent of each call, right, to first sort the suspects from the prospects. So you just want to find out what they are. Are they a suspect or a prospect? That's your first intent.
Starting point is 00:14:50 The second intent is to set an appointment with the ones that you've determined to be prospects. And here's the final word on mindset when you're talking to your leads. Understand that most people that you market to will not even call you. They'll never call you. and most people that you call, or excuse me, most people that call you will not result in a deal. Most people. And that's okay. That's how it works.
Starting point is 00:15:18 So if you talk to 30, 40, 50 people and you don't do a deal with those 30 to 40, 50 people, there's nothing here yet to suggest you're doing it wrong. You've got to talk to a lot more people before you really start making some adjustments in how you're going about your business. Because if you're talking to 30, 40 people, you know, that seems like a lot, and it seems like it's not working. But those are the types of numbers. Sometimes you have to work your way through. So there's nothing there yet to suggest you're doing it wrong, not yet.
Starting point is 00:15:47 In fact, you're more than likely doing it right. If you're talking to 30, 40, 50 people, you're doing it right. Okay, because you've got 30 to 40, 50 people to talk to. And so with those 30, 40, 50 people, you're not looking for them. Okay, you're not looking for those people. You're only looking for the ones that will do a deal with you. a deal at your price and on your terms. You know, it's just like, you know, gold mining.
Starting point is 00:16:14 You all know my favorite show, right? My favorite show, gold rush. I love that show. There's so many lessons in there about hard work, about persistence, about problem solving, about being effective in your business. I love that show. And your real estate business is just like that. You've got to pan a lot of dirt to find the gold nuggets.
Starting point is 00:16:33 But know that it doesn't. take very many nuggets to change your life, right? And the more dirt that you pan, the more gold nuggets you find. Those two are directly related. So you've got to go through a bunch of suspects to find the prospects. And you're probably going to have to talk to several prospects before you actually get a deal. Maintain that perspective on this business and you're going to do great. All right. So far, what did you learn? What did you learn here? What I just said? How is this different and how you've been approaching the conversations with your leads. You know, what piece of this information can you take
Starting point is 00:17:11 and put to work in your business right away? I mean, what can you do right now? All right, so think about that. Now that you've got the mindset down and how to speak to your leads, let's go over what to say when you do speak to them. And we'll do that right after this. You've got the knowledge. Now get the funding.
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Starting point is 00:18:13 All right. Now that we've got your mind right when talking to your leads, what are you actually going to say to them? Okay. And right now, if you took the advice from our previous segment of how to talk to them, you know, you don't have to be as specific on exactly what you say. Because if you've got that part right, what it does come out of your heart, what it does come out of your mouth is going to be the right thing anyway.
Starting point is 00:18:36 All right. So let's talk about that. But what are you actually going to say? What are the magic words that will cause them to sell their property to you at a deep discount? So let's go over that. Now, understand that there are many different words and scripts that you could use to put deals together.
Starting point is 00:18:55 It's rather an art form. It really is. I mean, certainly it's a skill. The more you talk to your suspects and prospects like anything else. the more you do it, the better you're going to get at this. Now, having said that, you don't have to be good at this before you start doing deals. Now, I like scripts. When I was a real estate agent, I was a script fanatic.
Starting point is 00:19:17 And when I got into real estate investing, I was kind of the same way. I mean, some of them are really clever and really fun. And you feel like you're in control when you got your script down. And you have this unshakable sense of confidence about yourself. They gave me, scripts gave me a lot of confidence. And when I got, because, and I guess I just always wanted that script because I didn't want to do it wrong. I didn't want to look bad. And when I got started, for some reason, making the shift from talking to homeowners as a real estate agent to talking to property owners as a real estate investor, I was nervous in that transition.
Starting point is 00:19:49 I was really nervous talking to sellers that I was going to do something wrong. I was just afraid I was going to mess it up. So I memorized three, what I determined to be stellar scripts that would get me to sale every time. I was like, how could these lose? is how can I fail with these? And I quickly noticed two things with regard to memorizing my lines. First, and this was a problem, this was a big problem. The leads that I was talking to, they didn't know their lines.
Starting point is 00:20:17 So this choreographed conversational dance between buyer and seller, it never happened. It never played out the way that was supposed to. I was like, no, you're not supposed to say that next. You're supposed to say this so I can say this. So that was a big frustration. The second thing I noticed was, and this was actually a relief, because I noticed this, is you can't say the right thing to the wrong person. Meaning, if there isn't motivation there, it doesn't matter what you say or how well you say it. That person is not going to discount the sale of their house.
Starting point is 00:20:54 If there's not motivation there, you can't say the right thing to the wrong person. You can't say the right thing to a person that doesn't want to sell their house. And two, you can't say the wrong thing to the right person. Meaning, if motivation is present, you're going to be given quite a bit of latitude and quite a bit of forgiveness for any mistakes that you think you may make. Now, with that said, you still want to get good at talking sellers, talking to sellers. As there's a small overlapping area between the right people and the wrong people. There's a small little area that overlaps where there. is a lot of opportunity and the difference could be made with just the right pitch.
Starting point is 00:21:37 But it's a very small overlapping area. So understand the general rule that you just can't say the right thing to the wrong person. You can't say the wrong thing to the right person. All right. Anyway, after a few months in the biz, having come to these realizations, I stopped being so hard on myself. And I came up with three very short questions, my own little school.
Starting point is 00:22:01 script. Just three questions. And it was more of a framework. It didn't matter what the other person said. I could still use these three questions and I didn't have to depend on them knowing their lines. So it was more of a framework. So I ditched the 16 line scripts. I ditched the two-page scripts. Wasted a lot of time trying to remember those things. I felt like I could have won an Oscar for as well as I knew those scripts. So I ditched those and I just relaxed a bit. And I just started talking to people. I started being present. I started being in. interested. I started being really concerned on how I could help the person. And those conversations, they revolved around just three specific questions to help me just determine whether or not I was
Starting point is 00:22:43 speaking to a suspect or a prospect. All right? And they are, number one, can you tell me about your situation? When they call, can you tell me about your situation? That's one of the first things you're going to ask. Second thing is, what would you like to have happen? All right? What would you like to have happen? And number three, if I could make that happen, how soon would you be ready to set? Those are three, three questions. One, can you tell me about your situation? Two, what would you like to have happen? Three, if I could make that happen, how soon would you be ready to sell?
Starting point is 00:23:08 That's your framework for the conversation. Now, in between those questions, there's going to be other conversation. All right? So that's, but during that, that, in between those questions, just be interested, listen, ask questions, and listen some more. It's a bit of a freestyle here. As there's, this is where you'll be building initial rapport with the lead. So be respectful, be considerate, interested, all that stuff we talked about.
Starting point is 00:23:31 be nice, just be you. All right, just be you. You don't have to pretend to be anything else. So the first question, number one, can you tell me about your situation? You see, what this question does is it does two things. First, it gives you an idea as to why they are interested in selling. So you get an idea of their motivation. Like, why are you even calling me? Tell me about your situation. And, you know, you get to see where their motivation is. And two, it gives you the opportunity to build some rapport with the person. This is where you can find a lot of common ground. This is where you can be interested. This is where you can ask questions. This is where you get to build rapport with that question. So the distance between question number one and number two, that can be rather long.
Starting point is 00:24:09 So don't rush to get to number two too fast. Okay. Number two, or yeah, number two is what would you like to have happen? So this question gives the motivated seller, the opportunity to tell you exactly what it is that they want. Don't assume here. All right? Don't do that. Ask them what they want. ask them because a popular misconception of real estate investors is thinking that the motivated sellers only want money. Not always the case, not at all. What they want most of the time, what they really want is peace of mind. I mean, maybe it's money that will give that to them, and a lot of times it is, but maybe
Starting point is 00:24:51 not. And you're not going to know unless you ask. So the point is don't assume you know what they want. If you always assume that they want money, I promise. you're going to be paying way too much for your deals. So it's a very important question. The third question, if I could make that happen, how soon would you be ready to sell? If I could make that happen, how soon would you be ready to sell?
Starting point is 00:25:14 And what this question does is, it lets you know how motivated they are. You know, the sooner they'll be ready to sell, typically the bigger the motivation. And what I like to listen for is a specific date or ASAP. I mean, if I hear a specific date, ASAP right now, end of the month, yesterday, by the end of the week, then I'm starting to think I may have a prospect. And when I get to that point where I think I may have a prospect, I'm going to test it, right? I'm going to push the envelope a little bit. And there are several ways that you can test their motivation. One, you can just, you can run a soft pass of an offer by them, you know, like by referencing a deal you've recently done in the area.
Starting point is 00:25:55 It might sound something like, you know, a couple blocks old. over, we just closed-knit, just helped a family over there, out of their situation. And, you know, it was right in the ballpark of $45, $50,000. So, I mean, if we were, if that's, I don't, I still have to look at your property to determine whether or not, you know, if it is comparable, maybe it's not worth as much, but maybe it's worth more. But if that, does that seem like a fair ballpark? So that's how I test it.
Starting point is 00:26:21 You run the comp by him, or you run that past deal by them, or you can run a recent comparable in the area. Number two, you can suggest. a meeting at the property. Okay, well, I guess we should meet at the property. And if they say, okay, then all right, so they're taking the next step with you. Or another way to do that is, you can ask a question like this. Okay, well, gosh, I mean, if I said, if they said that they wanted to sell right away, then the question might be, well, what's going to happen if you don't sell right away? Or what will, if you're able to sell right away, what will that allow you to do?
Starting point is 00:26:56 So those are two things. You know, people run away from, they run away from fear or danger, and they run toward pleasure or reward, right? So those are two different ways to ask that question. What's going to happen if you don't sell this right away? That's running away from the fear. Or the running towards pleasure, it's like, gosh, what is this going to allow you to do if you do sell right away? And the answers to those questions are going to give you further insight into the motivation of your lead. And another question I like at this point, if it's appropriate based off the conversation you've already had, I mean, during this whole process, you've got to be thinking, okay? You've got to be thinking. You've got to be, you know, you're listening with intent and you're listening like you're super interested because you are super interested. You're listening as if there's going to be a test afterwards. So as you're collecting all of this information, you know what's going to be appropriate or not, okay? Just relax and just be normal, be you. And so if it's appropriate based off the conversation you've already had, the question I like to ask is,
Starting point is 00:27:53 what's your biggest goal to get the highest price for your property or to sell it fast? That's another good test question to test that motivation. So if you've been able to discern that the leads you are talking to has the ability to sell the property and has a deadline for when they need to sell it by, you've likely got a prospect. And now it would be time to schedule a meeting or a viewing of the property. Okay, so that's how it works. That's how it works in a perfect world. but we don't live in a perfect world, do we? No, we don't.
Starting point is 00:28:26 You know, as simple as I've made this three-question script, and as easy it is to use, leads still don't always comply and say the lines in their script or don't reply as they're supposed to. They don't answer the questions. They got their own script that they want to use. So let's go over the most common questions and objections that you're going to get from your leads.
Starting point is 00:28:49 You know, if you can respond to these four, frequently asked questions and objections from the initial call with your leads, you'll be prepared and ready for just about 99% of what's going to come your way. And so we'll go over those four frequently asked questions and objections in 30 seconds right after this. Does your money work for you as hard as you do for it? If not, no worries. You do not have a money problem.
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Starting point is 00:29:37 More ideas, less worries. Cashflow savvy.com. All right, let's go over some of the more common things that you're going to hear from your leads and how to respond. This is on that initial phone call. One of the most common questions you're going to hear from your leads is, how did you get my information? Why did you send this to me?
Starting point is 00:29:55 You're going to get that type of thing. And you'd respond to that question, respond with all of these questions that I'm going to give you or all these objections and comments with 100% transparency. And be honest, brutally honest. I just say, I'm an investor and I buy data based off of my portfolio's criteria. I use what they give me. Sometimes it's a good fit. Sometimes it's not.
Starting point is 00:30:15 Do you have a property you'd like to sell? That's it. And I always end up with a question. So do you have a property you'd like to sell? Another thing you'll hear frequently is how much you're going to give me or how much are you paying or what's your offer or make me an offer. And you hear that a lot. And I'll respond it with, again, another very transparent, honest answer.
Starting point is 00:30:37 Well, I don't know. I can't answer that question without seeing the property. And I certainly don't want to quote you a number and not be able to back it up. Is your property for sale? Got it? Then another question you can expect is, how long have you been doing this? That's a big fear for a lot of people if they haven't been doing this very long. So that's what I want to cover this is how long have you been doing this?
Starting point is 00:30:59 Again, just be truthful and transparent. You know, if you've been doing it for a while, then let them know you've been doing it for a while. Read off your resume if you want. Now, if you're brand new, then say so. Say like, hey, I'm brand new. I was just brought on as an acquisition manager. My partners, however, they've been doing this for a very long time. But hey, I know how to put the deal together.
Starting point is 00:31:19 I have authority to make the offer. Do you have a property for sale? See? No big deal. And who are your partners that you've been in business doing this for a long time? Well, that's your investor network, right?
Starting point is 00:31:31 It's the people at your Ria Club. It's the people on your online forum. It's the people on your buyers list. They're all partners. And they'll all do business with you. Okay. Something else you're going to hear is, I'm not just going to give my house away.
Starting point is 00:31:43 Oh, don't think I'm going to give my house away. Something like that. And again, it's another nice, transparent, honest answer. No. of course not. I wouldn't expect you to give your house away, and I'm not going to ask you to either. My goal isn't to steal your house or even make the biggest profit, but to be certain that I don't lose. My goal is just to make sure I'm safe and I don't lose money. Now, once I have enough information to come up with a fair offer, I'll show it to you and you be the judge. Is that fair?
Starting point is 00:32:14 Got it? See how nice that is? So take those four and you get that, those are four of the most common questions and objections you're going to hear from all your leads, go ahead and get those answers down and just be prepared for them because they're going to come and now you've got nothing to fear. So how are these answers different than how you've been answering them? Can you see how if you have answers ready for those questions, how you can find more prospects out of all the suspects that are calling? Like maybe you think you're losing some prospects here and that because you just didn't know what to say. Can you see how these answers and having them ready can help you convert a few more of those. Good. All righty. So that's it for today. I will see you next week
Starting point is 00:32:54 for another episode of Epic Real Estate Investing. I'm Matt Terrio, living the dream. You've been listening to Epic Real Estate Investing, the world's foremost authority on separating the facts from the BS in real estate investing education. If you enjoyed this show, please take a minute to visit iTunes and share your thoughts. Thanks for listening. We'll see you next time here at Epic Real Estate Investing with Matt Terrio. If opening up your financial statement each month is about as exciting as watching paint dry, the Epic Wealth Fund may be the next investment opportunity for you. The Epic Wealth Fund invests in distressed real estate and shares the profits with its shareholders.
Starting point is 00:33:48 If you're an accredited investor who has already enjoyed success elsewhere in their business or investing life, and you're seeking a broader exposure to real estate in your portfolio on a passive basis, the Epic Wealth Fund's executive summary is available for your review. Go to EpicWealthfund.com to review the fund's executive summary. Epicwealthfund.com. Real estate investments involve a high degree of risk. Residential income and returns may vary and are not guaranteed. Past performance has no indication of future performance.
Starting point is 00:34:17 Nothing herein shall be construed as investment, tax, legal, or accounting advice. This podcast is a part of the C-suite Radio Network. For more top business podcasts, visit c-sweetradio.com.

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