Epic Real Estate Investing - Why Won't Sellers Accept My Offers? | 690

Episode Date: June 21, 2019

In today’s episode, Matt elaborates on the 4 types of sellers, how to build trust with them, and what is the best investment you can make. Listen, learn, and avoid getting your offers rejected “all the time”! Learn more about your ad choices. Visit megaphone.fm/adchoices

What I like best about working with Matt and the epic team is the support that you get just one-on-one with that. It has significantly helped my business. The one golden nugget that I've gotten from the Epic Intensive is action really is the key to success. You really have all these ideas and you have an amazing game plan. But the real challenge, I think, is going to be going home and making a choice and acting upon it every single day. in just being consistent. Like one of the speakers that said that consistency is the key to success. I would recommend the Epic Intensive to anyone that is looking to grow fast in their real estate investing.

What I have learned from the Epic Intensive is, man, there's so much. Hey, Matt here. You know, everyone is talking about real estate investing, right? It sure seems so. I mean, everybody wants to get in on the action. And we all know that finding off-market deals. it can be tough. It can be really tough. But what almost no one understands about real estate investing is the concept of finding truly

motivated sellers. Because it's not spending more on marketing to finding these motivated sellers that helps you buy discount of real estate. It's setting up a really good automated lead machine that finds quality sellers around the clock. And that can happen. Even if you can't stop trying every new strategy that you see at the Ria clubs or hear about on a podcast, as long as you're also content.

your leads, setting appointments, and making offers. And before I forget, if you like the sound of where this is going and you want to go deeper, you might like to attend the live three-day Epic Intensive Lead Machine Workshop. It's July 18th through the 20th. And if that sounds interesting, then head on over to Epicintensive.com. Get the details. That's Epicintensive.com. All righty.

Now let's get on with the show. Today, we're going to talk about buying discounted real estate. and the main thing that we're going to focus on is why won't sellers accept your offers? Why won't they accept your low ball offers? This is Terio Media. But before we get started, if you're serious about finding discounted real estate and if you're really serious about finding deeply discounted real estate, then you might like to check out a test program that I've put together.

It's for people that want to go out and find these types of deals with using little to no money. and if you like the sound of that, you can go check it out over at free real estate investing course.com. It's exactly what it sounds like. It is free. In fact, it's better than free. I'm going to pay you during this test period. I'm going to pay you to complete the course.

All righty. So free real estate investing course. com. Hopefully I'll see you over there. So when it comes to buying real estate at a discount, we all know we need to get your discounted offers accepted, right? If you don't get the offer accepted, there will be no deal.

And what holds people back is after making a couple of, unsuccessful attempts at it. They start to paint the whole market with this big giant generalization like nobody will accept my offer, right? Or everybody's overbidding. And when you got to be really careful when you start using words like nobody and everybody and words like always and never. Because what those will tend to do is they'll thwart your entire,

your entire ambition, meaning you're going to stop trying if you really believe that anybody and nobody and, excuse me, like everybody, nobody always never. Be really careful with that type of words. Because I get this part. This comes to us frequently. People see that, you know, that this real estate investing and buying properties at a discount, it works for others, but they struggle with pulling it off themselves. And they'll blame the market. Like it's super saturated. It's super competitive. They'll blame their marketing. like everybody's sending the same letter, everyone's sending his marketing messages,

it's all getting crossed and sellers are getting confused, and so it's just crowded out there. Or they'll blame the program that they're following, as it doesn't work. And I guess if you don't know any better, I can see how that might make sense. But here's the thing. There are really only two reasons

that a seller will not accept your discounted offer. And one is, they don't need to. And the second thing is they don't trust you. Pretty much that's going to solve every single situation where the seller did not accept your lowball offer. It's because they didn't need to accept it or they don't trust you. So here's what you can do. I'm going to give you two things. First thing, you've got to set your expectations appropriately. Okay. And we talked about this a little bit. So I'm going to go through it really quickly. We talked about this just a few days ago. But there's going to be four types of

sellers you really interact with, right? And I use this innocuous little metaphor. We use fruit to refer to them. We've got red apples, green apples, and we've got rotten

apples. Okay? So we have these apples. And what you need to know is when you're out there talking to sellers, that if you talk to 100 different sellers, probably only three of them are actually going to be people that need to sell that will have enough motivation for them to do a deal right now or relatively soon. The second category, you're going to be

your green apples. There's only about 12 of those 100. And they want to sell. They just might not need to sell. Then most of the people that you're going to be talking to about 70 out of that 100 are the people that are just curious. They saw your marketing. They've seen your message. They might have seen you around. Might have heard about you, whatever may be. They just want to know what this is all about. How much could I get? And what's the market doing? Can you run some comps for me? Or what do you think I should fix? I'll start picking your brain, all that type of stuff. And then there's another, the last portion, about 15 of those people, going to just be crazy. They're just angry at the world. There's something else going on in their life where they're mad and they're going to take it out

on you. But you have to set your expectations appropriately. Because if you go out and you made three or four offers and the seller did not accept them, if you only did like three or four, which is kind of like what most people do. And if you're just getting started, that three or four can feel like 30 or 40. But even if it was 30 or 40, where's the likelihood that they're going to end up in this little, well, it's not a pie,

but where are they going to end up in percentage-wise? Most likely three or four is a good chance. They're going to be curious, right? Very low chance out of those three or four offers that you submitted and decided that nobody will accept your offer. Very few of them are actually going to be up here. And what I actually find is it only takes, takes a little bit of digging with somebody that comes to me with this type of issue to find out

they didn't even put their offers in writing. They have discerned that the seller is not going to accept their discounted offer by 100% of a phone conversation. Okay, so first thing, just set your expectations appropriately, right? So the second thing is, well, this is what I was trying to say. Let me actually write this instead. This will be better. If this were all of the transactions that are out there to be had, right? All real estate transactions. You got 95% up here, you got 5% down here. So the 95 portion of the pie, these are the people that want to sell.

If they're contacting you, they probably want to sell. They're curious about or they're thinking about it somewhere in the future. Down here are the ones that need to sell. So just set your expectations appropriately. Most people are not going to sell you. their property at a discount. They're only going to sell you at a discount and accept your low ball discounted offer if they need to. And why would they need to? It's because they've got some sort of problem. They've got some sort of issue. They've got some sort of challenge going on in their life.

That's more important than them selling their property at full price and waiting for the market to come and give them the full price. So just set your expectations appropriately. That's number one. So if nobody is accepting your offer, either one, they don't need to. Or the second thing is they don't don't trust you. So how do you get a seller to trust you? That's biggie. Okay? So this is how you do it.

Particularly if this is a new relationship with the seller. You're talking to them for the first time. And they have responded to your marketing and they're calling. They've got their guard up. They're wondering what this is all about. They're wondering if they can trust you. They're wondering if this is a scam. They're wondering, is this person going to take advantage of me?

Or they've got to come over here and steal my house. So all these different things are going on in their head. And they all react to it differently. Some might be angry. Some might be coy. Some might be friendly. Some might just flat out lie to you. People respond and keep their guard up in all different ways.

They protect themselves in different ways. But the way to get them to trust you is to position yourself on the same team as them. Align yourself with them. Combine yourself that you both have the same mission. See, they want to sell their property for as much as possible, and you want to buy their property for as little as possible. So if that's the case, how do you position yourself on the same team to create a common goal between the two of you? Well, at the end of the day, it doesn't really matter what you want to buy it for, and it doesn't really matter what they want to sell it for. A property is only worth what someone is willing to pay for, what the market says it is worth.

And that can change from day to day. And so if you both have a desire out of this transaction, the only thing that's going to get in your way and prevent you both from getting what you want out of this transaction is the market. So you are going to position yourself as the good guy. You're the good guy or the good cop. You're the team member. And so you are on the seller's side. And on this side, we got the bad. guy or the bad cop, okay? The adversary. So this is going to be you. This is going to be the market.

So if the seller has a $100,000 house and they say they want $110,000 for it, then your response is not, are you crazy? No one's ever going to pay you that. You don't say that. What you say is, I would love to get you $110,000. That would be fantastic. And if the market will allow it, I absolutely have no problem helping you get that $110,000. Right? So you've positioned yourself, I'm down with you. Let's go for that 110 if the market will allow it. So that's the big distinction there.

All right. So you want to position yourself as the good guy, the good cop, the good cop, bad cop, right? And then the market is going to be the bad guy. That's the only thing that's going to get in the way, right? you may want $125,000 for your $100,000 property. That's great, but the market is not going to validate it and give it to you. It's not you that's not going to give it to them. The market is preventing that, right?

Because if the market said that house was worth $150,000 and they wanted a $125,000, then by golly, you would give it to them, wouldn't you? You sure would, because the market would allow it. Right? So position yourself. So set your expectations appropriately that most of the people may are want, to sell, but most of them are not going to sell to you at a discount. Only a small number of them are. So you're looking for the people that need to sell. You're not looking for these people that want to

sell. Kind of like panning for gold, right? You've got to go through a lot of dirt to find the gold nuggets. But it doesn't take many gold nuggets for this to be entirely worthwhile, for this to be life-changing even, right? So that's one. Second thing is for them to trust you, align yourself with them. Actually help them. You know, the best way for someone to believe that you can actually help them is by actually helping them. So explain to them how this works. I'm here to help you get what you want out of this. I'm here to help you solve your problem.

And I'm going to do whatever I can to make that happen. The only thing that I can see getting in the way is the market. That's the positioning. I'm going to share a little interesting story with you about how this all came up in just a minute. But if you like this and you want to really find discounted deals, you might like this free course that I just put together. If that sounds interesting, you go over to free real estate investing course. com. Read everything we got over there.

cool little page, some little pictures, got a little video of myself. I explain everything, and if you like what you see, join us. Okay? So this just wrote all over myself. So this whole subject, it came up via a conversation that I was having with somebody on Facebook via messenger and the little chat bot. And after I shared with them, what I just shared with you, I explained them, this is why you're probably not getting your offers accepted. The next question was, totally came out of the blue, was I'm thinking about joining someone's program. and I'm looking at Mitch Stevens, they said.

I'm looking at Joe McCall and I'm looking at yours. And the next question was, what makes you different? And I was like, interesting, because we get that all the time. And I tell everybody the exact same thing. And essentially it goes like this. You know, I'm not really sure what makes us different because I haven't taken Joe McCall's course. I haven't taken Mitch Stevens course. Those are, they're both good guys.

They're both very successful. I doubt that they would teach anything that didn't work. that'd be a really dumb decision on their part. And they both have been very successful doing what they teach. And they've got a bunch of great case studies and success stories. My real question is, how are you different? Right? So I'll give you the formula for success, okay?

So there is information. Okay. And then there is X as our variable. and that's going to equal success. Okay? So we've got info plus X equal success. Now, when we look at the information that's out there, there's some constants in here, right?

The information is the constant. That doesn't change. Joe McCall, he's got a good program. We've got a good program over here. Mitch Stevens has got a good program. Take it further. Sean Terry's got a good program. Cody Sperber's got a good program.

There's a lot of good programs out there. They're all teaching what it is that they used to do or do today that gave them their success. And this is a constant as well. It's this right here. That's the big variable. And the variable is you. The variable is the individual, right? So when I say, how are you different?

Not being flippant, not being a wise guy. That really is the big variable. And it's you that brings yourself to the person. program is going to determine the results that you get. It's not the info because the info doesn't change. It's not the success. You follow the info. It creates the success. It's you, the variable here in between. So the success is going to come from you. So if you're looking for a program to invest in, and as much as I like real estate, I don't think it's the best investment. I think the real investment to make is in you, right? The best,

investment is to make is you. So here's what we know. First thing is, understand that most people will not sell to you at a discount. Most of them won't, but you're not looking for most of them. You're just looking for the ones that will. And you only need a few of those to make a significant impact in your life financially. All right. So, and for those that will, the reason they're going to accept you is because either is because they need to and that they trust you. So you have to align yourself. Third thing is all programs work. They all work. if you do. And as a bonus, the best investment that you can make this year, it's not in real estate. The best investment you can make is in you. And that's why you might want to join us inside

of our free course. And you can at free real estate investing course.com. It's better than free. I'm actually going to make an investment in you. If you'll make the investment in you, because if you complete the course, I'm actually going to pay you to complete it. All righty. So it's been a pleasure. And I might see you again today because something else just came up. And if I got the time today, I'll bring that to you because I think you'll find that helpful as well. All right. Take care. This podcast is a part of the C-suite Radio Network.

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