I know, don't groan. You have to do them if you want to get properties and make money. Believe me, I used to hate cold calling. For those of you that have read our book, "Who Makes It Happen: Back On The Road To Success With Creative Real Estate", remember it used to take me an hour to get on the phone and then after 30 minutes I was ready to hang up.
I've learned over time to not think of telephoning as cold calling, but how I can help a seller or buyer. I realize if I make so many calls, I will get so many responses, and I don't take a no personally. It's their loss. Let them continue to pay to run their ads and six months from now when I call out of a paper or web list and they are still there, maybe then they will listen. There are too many people I can help. I refuse to worry about the ones that won't listen.
So, the first step is to get in the frame of mind that you are offering help. Next, let the seller do the talking. You listen. How do I do that, you say? Well, when I call on a home and someone answers (as opposed to leaving my message), I ask is the home still available? Great, my name is Susan, who am I speaking with? George, tell me about your home? This gets the seller talking. I just guide him/her with how many square feet, garage, etc. For those that have purchased our manual, this form is in the Seller section. You want to get as much information as possible. What they don't tell you ask. The last question I ask is, George, it sounds like a beautiful home, why are you selling? Then let him/her talk. This question tells you how motivated he/she is. Is he/she moving into a new home, relocating or just putting out feelers.
Next I ask the pricing information, how much are they asking for the house? How did they arrive at that price? Comps? Have they had any offers? If no offers, ask them why they think they haven't had any offers?
Next I ask about financing information. What are the payments? Any second mortgages? Are their payments current? Any CC&R's? What they paid for the home? Many times when I ask, "What did they pay for the home?, I get, "it's none of your business". Well, I say to the seller, this helps me decide if a Lease Purchase is workable, and it is a matter of public record.
Always be sure to check on-line or with public records that the person you spoke to is the individual who has the authority to deal.
Finally, I ask about Lease Purchasing and tell them the advantages. Some will say yes, can you send me some information? Others will say, no, I need to sell. I'll say, that's fine, why don't I send you some information so you have it on hand as another option if you need it. Always, follow up.
Remember, relax and pick up that phone. Otherwise, the deal and the money won't come your way. And remember, you can always consult!
Interested in having your own successful, home based creative real estate investing business? Chuck and Sue have been helping folks start successful home based businesses for over 17 years, and we can help you too! To see how, visit www.homebusinesssolutions.com
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Article By: Chuck and Sue DeFiore