With Brian taking a vacation in Hawaii, John is solo in this episode to discuss how to communicate with sellers when buying a real estate investment property. John was the entire marketing team for his business before he met Brian, so he has experience with a wide range of customers and situations. He knows what is important to consider when speaking with sellers face-to-face. John gives tips for each step in the selling process, from building rapport in the beginning to checking in with the seller after closing the deal. He shares how to gather information from sellers, what to do while walking through the seller’s house, and how to negotiate a price that is fair for both him and the seller.
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This Episode is Sponsored by
Core Rentals offers full service, residential property management in Columbus, Ohio and surrounding areas. They are equipped to handle single-family and multi-family homes. Visit CoreRentalsOhio.com today to have the day-to-day operations of your rental property handled by professionals.
Covered Topics:
- Ways to build rapport with sellers.
- Things to do while walking through a house with the seller.
- Negotiation tactics.
Show Notes:
- 00:46 How to talk to sellers.
- Getting requests for podcast topics through Facebook.
- 01:58 Building rapport.
- John’s approach as an introvert.
- Gathering as much information as possible by letting them talk.
- Being sympathetic and empathetic.
- Providing emotional support.
- Emphasizing the benefits of working with your company.
- Advantages that John’s company offers.
- 07:42 Walking through the house.
- Pointing out outdated or broken things while being respectful.
- 09:07 Negotiating.
- Avoiding throwing out the first number.
- What to do when the seller won’t give a number.
- Continuing to point out things that need to be fixed at a property.
- Always bringing along a contract.
- 13:35 Closing the deal.
- Checking in with the seller.
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Topic Takeaways
- Be sympathetic with sellers; don’t look at them as just a sale.
- Be respectful while pointing out flaws in a property.
- Try getting the seller to state their selling price before you state your buying price.
Tweetable Quotes
“Make sure you listen. Don’t try to make their mind up for them. Every lead we get is not going to be a deal” (Tweet This!)
“If they put wallpaper up 20 years ago, they’re not going to think of it as outdated because that’s something they did.” (Tweet This!)
“I like to call the seller every couple of days…just to make sure everything is going smooth. Some people get a little nervous because they don’t know what’s going on.” (Tweet This!)
