It doesn’t take long to figure out that a seller is unmotivated.
Some sellers have heard so many low-ball offers in the past that they’ve become bitter and frustrated toward cash buyers.
Others simply aren’t that motivated to sell because they’re living in the property or because it’s cash-flowing.
Still, everyone has a price.
And just as it’s important to know how to talk with motivated sellers, it’s also critical that you know how to talk to unmotivated sellers.
Sometimes, making a seller motivated is simply a matter of understanding where they’re coming from, and then explaining the comps so that they understand why your cash offer is what it is.
In fact, here are three things you should ask unmotivated sellers before giving up on them!
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1. Why are you selling?
Unless a seller is extremely motivated and comes to you, pen in hand, ready to sign any contract you hand them (which is rare), you’re going to have trouble selling anyone on your service unless you understand where they’re coming from.
And perhaps the best way to figure out how to appeal to a seller is by asking, “Why are you selling?”
Some people are selling because they want cash in hand… but what do they want to use that cash for? How important is it to them that they sell quickly?
Some people are selling because they just want to get rid of the property… but why do they want to get rid of it? What sort of problems is it causing them?
And some less motivated sellers just want to sell their cash-flowing properties because they don’t like managing them. But why don’t they like managing them? Why is it frustrating?
Whatever the case, dig deep.
The better you understand the seller, the easier it’ll be to have an honest conversation about whether or not your service is a fit for them — and transparency is key.
2. Why hasn’t the home sold yet?
If the seller has been trying to sell the property for quite some time (100 days or more) — regardless of whether they’re motivated or not — why hasn’t it sold yet?
Asking this question does a few important things.
First, it provides you with important information about what’s wrong with the property and what needs to be fixed.
More importantly, though, it gently reminds the seller that something is wrong with their property (that’s why it isn’t selling) and viewing the home through rose-colored glasses hasn’t done them any good so far.
After you ask this question, it’s common for unmotivated sellers to explain how the properties have “so much potential” or how they could be worth “a lot of money” if they got fixed up.
At that point, it’s time to explain the stone-cold comps.
3. Do you think you’re going to sell for that price?
Many investors are shy about sharing their comps. They worry that if the seller knows how much money they’re going to make on the property, then they’re going to be even less motivated to sell.
But that’s not always the case.
Especially when it comes to clearly unmotivated sellers.
If someone has made clear that they’re “not in a hurry” and that “the property has a lot of potential”, then you’ve got nothing to lose by explaining your comps to them.
Sometimes, this will give the seller a better understanding of why your offer is what it is and it might even convince them that selling to you is their best course of action.
If a seller wants to get a high-ticket price on a distressed property, for example, you can explain to them how much you’d need to invest in the home, how much it would sell for, and then how much you’d stand to make.
Simple math is a great way to show some unmotivated sellers that “holding out” isn’t going to pay off.