So, I was at a Mastermind meeting and 2 of my students were there too. They wanted me to address how to handle seller objections. So we did a little role playing and I immediately picked up on what the problems were…
These guys slipped into “presentation mode” a.k.a. “sales mode”. Yuck. :-/
The second that approach takes over, you’ve lost.
You don’t need to explain all the benefits of a lease option deal, for example. You have to turn it around…
You should be qualifying the seller by asking questions instead. The seller should sell you on their home, you shouldn’t sell to them.
If the seller says, “Why would a lease option be good for me?” You say, “I don’t know. That’s a great question. Why do you ask? I haven’t seen your home yet, tell me a little more about it.”
See what I did there?
Answer questions with questions.
He/she who asks the questions stays in control.
How’s about this one from the seller: “What about dealing with tenants and maintenance and repairs?” I respond, “If I could show you how you wouldn’t have to be concerned about those, what would you want to do then?”
See, your goal is to get the deal done right then and there. Questions are gonna get you there.
You want to get to a “yes” or a “no” as quickly as possible. “Maybes” will kill your business. (I just wrote a terrific email all about that. Check it out.)
So, when you’re on the phone with a seller and you ask the right questions, you’ll be able to know in 3–5 minutes if they’re motivated or not.
Have guts to ask probing questions: “What are you going to do if you can’t sell it with a realtor? Rent it out yourself?”
Remember… stay out of presentation mode. Stop chasing the seller. They should be chasing you. You can solve their problem.
You need to have this attitude: I’d like to have your business, Mr. Seller, but I don’t need your business.
It is completely okay for you to walk away… there are plenty of deals out there.
Just stay in control by asking the right questions.