Epic Real Estate Investing - How to Uncover Motivation When Sellers Call You | Financial Freedom Friday

Episode Date: June 27, 2014

Sorting prospects from suspects is an art form, however, it can be done relatively easily with three simple questions. Ask these same questions every time a Seller calls from your marketing materials and sorting prospects from suspects will be a snap!   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 right, so you've been sending out your marketing materials. You've been putting up your signs. You've been, you know, doing all of your marketing activities, and your phone is now ringing. In fact, it's ringing more than you thought was possible. Yes, this stuff actually works. And because your time is valuable, in fact, it's your most valuable asset. I want you armed to sort swiftly through these calls.

You see, we're separating suspects. from prospects, and we're going to do it fast. So these calls can, you know, they can seriously steal your time if you let them, but we're not going to allow that to happen, not to you. All right? So first off, you got to know that you have three objections in every first call. So objective number one, build rapport, okay? Because they've got to like you if they're going to do business with you.

All right? So objective number two, you got to reveal their motivation. You see, we're always looking for motivated sellers who have to have to. to sell. Those are the prospects. Not sellers who are curious or would like to sell. Those are your suspects. You don't want to deal with the suspects. You want to deal with the prospects. And then your third objective is you want to set an appointment to meet the seller and view the property. That's it. The objective of the first call, it's not to find out every detail about the property. And it's not to issue a sight unseen offer. You know, closing the deal right here on this first call,

that's not your objective. Okay. So now that we're clear on the objective, there are three questions. Yes, only three that you'll need to ask. So when your phone rings and you answer, you're going to hear something like, hey, I got your yellow letter, I saw your sign, or I read your ad, and I was just calling to see what this was all about. So the first question you're going to ask is, great. I'm glad you called. Can you tell me about your situation? That's it. Can you tell me about your situation? And then you just let them talk. You got to listen. Okay? From that point you're listening, you want to express interest in their situation because you just asked about it. So listen and be interested. This is the building rapport part of the conversation and also serves to

uncover some of their motivation as well. Okay. So you're going to do a lot of listening and a lot of what we call active listening. So as they're talking to be, mm-hmm, yeah, got it. Okay. Can you tell me some more about that? Oh, how come? Why? Stuff like that. Right. So when their story comes to an end and it eventually will. The next question you'll ask is, what do you want to have happen? Again, just listen. This is where you get the key to the deal. I mean, if you can give them what they want, they're going to give you what you want. Or at the very least, this opens up the avenue to creating the deal that you want. Got it? So when that explanation is over, the third question you ask is, if I could make that happened for you, how soon would you be ready to sell? And they'll tell you. They'll tell you because

you've led up to this with the first two questions. Repor has been built, and they will gladly answer that question. So now you have enough information to take the next step. Now, if you don't detect any urgency or any possibility of you being able to give them what they want, the conversation, it's over. All right? It's likely you're going. It's likely you're speaking to a suspect, not a prospect. I mean, there are some exceptions. You know, if in your gut you feel that there could be an opportunity, by all means, it's okay to dig a little deeper.

But if you're in doubt, hey, it's time to move on. Just always be asking yourself, does this person sound like they want to sell or do they sound like they need to sell? Does this person that I'm talking to right now, do they sound like they want to sell or do they sound like they need to sell? Remember, we only deal with the people who need to sell. If they need to sell, this is what you do. You set the appointment to take a look at the property and meet them face to face.

Now, if you think they merely want to sell and you want to get off the phone and you don't really know how to do it and you don't want to be rude, you can say something to the effect of Mr. Seller, Mrs. Seller, from what I hear, I don't think I'm the right person to help you out of your situation. but if your circumstances change and you've exhausted all your options, I'd be happy to hear from you again. So please give me a call. Is that okay? Then get off the phone. Get off the phone now. Don't waste your time with suspects because the majority of your callers,

they're going to be suspects. So if you spend a lot of time with them, you're going to be wasting a lot of your time. Just remember these three questions and you're going to be great. And write them down. Recite them until they flow effortlessly from your brain to their ears. first question, can you tell me about your situation? Second, what do you want to have happen?

Third, if I could make that happen for you, how soon would you be ready to sell? Just keep asking these three questions. Keep asking them over and over and over again. You'll get more comfortable with them and you'll continue to see better and better results. So check back with me next Friday where I'll cover how to respond to the most common objections

that you're going to hear from those questions. And, you know, if you're not prepared to, answer those objections, you're going to blow most of the calls. All right, and we don't want that to happen. You're spending a lot of time and effort on your marketing, and we want to capitalize on every opportunity that comes our way. Okay, so until then, write those questions down, recite them over and over, and enjoy.

I'm Matt Terrio of Epic Real Estate, and this has been 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