Generating more leads, finding motivated sellers among your data-lists, and using ninja-like hacks to make more money per deal are great ways to grow your real estate investing business.
But let’s not forget about the basics of selling and closing a deal.
At the end of the day, closing deals only requires two things.
- Finding sellers.
- Getting them to accept your offers.
And in this article, as in the video below, we’re going to show you 4 common-sense tips for turning more of your relationships with sellers into deals.
1. Over-Communicate With Sellers
Unless you’re brand new to real estate investing, you probably don’t get nervous when you go to meet with a seller for the first time.
But that doesn’t mean they don’t get nervous.
Put yourself in their shoes for a second — someone who they’ve never met before is coming to their home, examining it with a critical eye, and very well might make them a low-ball offer.
They’re probably a little nervous about that.
So overcommunicate with them about when you’re going to arrive and how long you’re going to be there. Text them 15 or 30 minutes beforehand telling them you’re on the way and you’ll be there shortly.
And whatever you do, don’t arrive a lot later (or sooner) than you say you’re going to.
This will help put the seller at ease for the appointment.
2. Send Sellers Thank You Cards & Gifts
If an investor came to your house, took a look around, and then said that they’d be in touch soon… wouldn’t you be a little bit anxious about when you might hear from them next? Or even about how the appointment went? Or how much they’re going to offer? Or if they’re just going to ghost you now?
One of Ryan’s favorite practices is that he sends Thank You cards (and sometimes little gifts) to every seller he meets with, telling them that he appreciates their time.
He typically sends this card on the day of the appointment so that it arrives a few days afterward.
This makes an excellent second impression on the seller and increases the likelihood that they’ll work with you and/or recommend your service to others in the future.
3. Do What You Say You Will Do
It’s a little unsettling how many real estate investors don’t do what they say they’re going to do when they say they’re going to do it.
If you tell the seller that you’re going to have their cash offer within 48 hours… then you damn-well better. And if you don’t, then at the very least, call them and give them an update.
If you say you’re going to arrive at a certain time to look at their house, make sure you’re on time.
The fact is, some sellers outright won’t work with investors who don’t do what they say they’re going to do… because if they didn’t come through on past commitments, then how do I know they will come through on their offer?
There are two lessons here.
- Don’t overcommit.
- Do what you say you’re going to do.
4. Come Prepared
If you want to make a good first impression, then do a little bit of research on the seller and their property beforehand. Determine if they own any other properties, look at the history of their home, and see if you can find anything else noteworthy.
Of course, you don’t want to over-research and creep the seller out, but you do want to show them that you’re serious about what you do and that you’re willing to go the extra mile.
The last thing you want to do is come to an appointment seeming uninformed about the seller and their property.
But enough from us…
What do you do in your business that seems like common sense… but that many investors don’t do?
Let us know in the comments!