What Should You Ask A Seller

Kandas and Larry discuss what to ask a seller when you are looking to invest and how to negotiate.

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

The following is a sponsored program on WBT. Welcome to brag radio which is all about being rich and generous. Every week your post Candice and best selling author Larry Jones we'll show you how to be rich in generous by investing in real estate. Broadcasting around the world on the rank radio network from the flagship station W BT and beautiful uptown Charlotte. You crier host the rock stars of real estate Candice and Larry. Well bill what happened then happened in the united. I don't dispute wound up yet ready but. You know he's liable play Saturday afternoon. This time that you've heard finally and I and so I'm excited that you're always think that in you're right there. But so we're even up to. And he now that you know. If you ask me every and they worry you don't know either of the three yardage yet. Now it's in the water that's just opened two. Alan this blanket is not Alley there was an article in. 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We have books courses seminars coaching mentor and will walk right beside you and help you wouldn't coach you inventories through your very first deal. Or you're hundred deal right we do and that an animal. We absolutely do absolutely so what Candice what are we gonna talk about today all of this particular show. What about and sellers the way about hinted that sellers play. You know last week we talked about all about realtors but I won't buy. By house to realtor. We talked about dealing with realtors and you know things passed a realtor and things to find out about the property before you make an offer to realtor so while we're gonna talk about sellers this week thanks and local. The cells good likely need to start you start slow what is supposed to act it's now or whenever you. OK that's a really really. Any end to end just to give and maybe Elena down. He's our you gonna get into the air at the way the to negotiate with sellers honesty is a part of your question are now. We might we might get into that depended on how much time we have we always seem to run out of time my. KJ humans. Aren't operating. In violence no knotted up now they meet at the mine. The ego and my job is students laugh. So guys there's basically two ways to find deals rules state deals you know if you're an investor wanna be an investor there's all market properties and off market properties last couple weeks we've talked about all market properties. Listed on the on the MLS with a beat you know. With a B hub house or VA house or you know whatever assists listed on the MLS could even be a bank owned properties but those are all going to be listed. Only a mile last right. And me and yet and we have just think we have but it is. Uploaded on a Gregory N dot com and he has haven't listened to those are going to back near street and on number. Absolutely absolutely so now as you're. It's it's. So tiny that it. And then. Things like you think you're right in and implement a year or heinous. Anyway. So. We're gonna talk about deal with sellers nail. The key if you are going to be buying houses to wreck from cell which by the way. We do a lot of houses we'd do him analyst houses as well but god please. Deep pool of houses that are available from. And and Lance has been slowly. And steadily shrinking Raikkonen goes. We have like that little sound bank. And you know with Paul Allen who. Our idea that I'm gonna it's gonna do the little party and some that right there. And availability is on the decline in you you sound more to this kind of pushed yeah I think. Are you you know we got a goal or. That's gold gold Joseph had little. So but the pool of properties. Meanwhile back at the ranch the yellow properties is shrinking right on this Halloween and it is only Arlen amateur I don't remember the month we go to when he for twenty odd houses in one more. Right am I mean yeah we did get four last week or week before last. You know we get one or two week or something like that but you know some of those we in October but were also in multiple markets right right. Yeah Leo I'm. But with with going direct to sell or right. There's a lot of different ways to do that and and we've had several different shows owned that so we're gonna give it all the different marketing methods. But when you're going direct to sell or what you really want to do is look for what's called motivated sellers right there and he's. And motivated. See him back a coat and I'm not I'm not. I gotta keep this thing you'll. Hold job is insane. On him or. So anyway you've got to look. For motivated sellers all right and motivated sellers are sellers who. Are going to maybe they've gone through divorce that's one right. Maybe they have had a death in the Family. Guy that could be another one maybe they've had a job change or loss of the job right. So some type of live event and none of the pushed them to be more motivated violent things Soledad and life changing that they sound mind changing them like for example talked to a lady yesterday. And her. Husband had just gotten there's just been diagnosed. With a parkinson's right. And she said I hate to sell this house but I just really need to sell about discovery you know from hundred she's had promised also might take over below the summit would just take a little rugby yeah. You know that's all she really want. By the that's a whole another show about how to do those kind of deals. Those are called subject to deals where you take over the house don't don't get into the issue you're in Cuba reviews. Are. So. So there's divorce does help issues there's job loss. You know it's being transferred. May be on the job loss but you've been transfer right and there's also people who inherited property. Kids Greinke is can inherit property and when that happens that while the prompt it to school money. Right. That's all they want the cash. Cash that's all they care about is the caps right. So you wanna look for people who have who who are motivated self right. Who were motivated sellers and and when you do your marketing correctly right. When you do to marketing weather's Craig is Craigslist. Or bandits and those Senseo houses. Or what you do right now. You can you can send out direct mail postcards to people some of you got that list and may have even received some of those postcards especially if you owned properties that you don't live it. Google's one of the keys is mailing to people. Who or what we call absentee owners. They own the property but they don't live in the proper way and another word is out of state orders so those were a lot more motivated. Evenly in the works right people who were renting properties people who have code violations people who were handled taxes. People who have gold through probate. Rights and who are the administrator. Of the estate right or personal representative study right. And you know there's a lot of different ways but you won't find those motivated is right and was motivated sellers. And when we come back from the break we're gonna talk not only about the motivated sellers. But we're gonna talk about the second thing that you have to look for before you can make an offer property right campus. I thank you tell me it's you say so that's our on our wrap. But in the meantime you guys give me call 877 Larry go in Kenya the additional investors kid out to your email. It's got copies of Larry's latest books a Hud homes half off in getting start with real estate they trading. But those are models that we do every day in our office. So give me a call 877 Larry go text the word BR AG to Asia 38976063. Welcome back to brag radio. Mean the world to be rich and generous but real and anything yet and we. Know that it. Well so today all right radio we're talking about dealing with sellers. Right. Duma sellers finding motivated sellers layers. Sellers. And motivated that this huge. Sellers. So you were talking about dealing with moved to open its. Don't. Don't aimed at CU or find somebody that has little motivation to sell the property and I'm not to mention global. I need to sell now rather than later right. Pay in Houston before in the last segment about time. The doing direct mail to fund absentee owners and things like that now. By anybody's life. And I can change at any given moment and so is now one of the reasons why you think you should be cac consistent with your marketing efforts heard during Mallon things. That they make it line and everything be all acute Turkey and then. You cents on the next month than they've had. And not allow life altering and in. Well and that is true that is true I mean when they went in and out direct mail or you do what's called pay per click advertising. You're going to run into people who. Maybe. You know maybe like an illicit explain it well maybe they don't have a situation right now but they know pay. In six months I'm retiring and I wanna downsides. Right after opening to a lot of London. That's exactly and six months or downsize. You know or at six we'll talk normally lose my job Rundle going to be transfer or whatever it is right. Whatever it is but there's a lot of different things that can change. Based old. You know. Based on your situation so I quote we do direct mail. We always mailed us sane person. At least. 456. Times right. Let's say for example if you're going to mail. Mitt do direct mail every single week here typically you'll probably say that'll Thursday that it together over the weekend colonial Monday right. So. You want to do wanna send Dallas cedar Miller 101000 pieces Republican of Mela torn 500 week. Right that you're talking now for them. Right see you know Miller toll 500 week the on the fifth week in store rollover. That mails to the exact same personnel you could do the same direct mail piece. Or you could change you know. And do one a little different. If you wanted to. Now do you think that when you do won us a little bit different room you'd just change one thing in a time. To see maybe you it's going gets a better response. Or when oh in a completely different and I didn't give in to a whole knows things about direct mail and an increasing your response rate we wanted to change out payment upfront and mini pin and well we didn't and if you want to but just real quickly you do is you start out with your direct mail piece. And you tracked your response rate conversion rate and then. That is your control. And then you're always changing tweaking things like add a pitcher. Or change in the type of font change in the color. Making it a glossy verses of one collar to collar. And are changing the typed into the headlines and in the end whenever you start getting better responses. And that the country control. And they always try and increase your response rate and closing rate now response rate. Is not necessarily the most important thing because you might be getting a 5% response rate but surely close one deal a month. On and on the other hand with another piece you might get a 1% response rate but your clothes and three deals. Right in the horse I've seen direct mail pieces that would say you know. 53 and final notice we're trying trying to reach you in regards to your property to period of that we reach you in the next three days this'll be your final notice. Than what it's you know right. But you get a big response rate but you also get a lot of people that column what the heck is this about when you talk about my propping run. Right. Slope so that's a big difference right there that it does that makes it stop thinking and go. No problem no problem glad. So. So yep we talked a little bit about in the first segment about motivation right. You got to find somebody that's motivated that needs to move needs to sell or has a property that they're tired of of either renting or tired of owning or maybe they just inherited it you know maybe they just came into town and they're trying to shuttle's stay yourself that you know who who knows. Right so you need to have some kind of motivation. Right otherwise the person who just weeks ago. Voted on the MLS with a realtor and went six to twelve loss to Charlotte right yeah. And that they're not and a Harry yeah exactly exactly so the sector that you need to look for right. Is deal killers right field players right. Indeed. Well I am going to tell about it deal killers some people some people called different things that deal cure or conditions or some that effort for example. A deal killer might be. When I don't really old house it's in my grandmother's name and she passed away and we didn't have a we will and you know try to get an attorney to settle this but they won't 101000 dollars is gonna take six months. Well that's kind of a deal killer right there. So there's a little different deal killers. Probably the most important when. Is a deal killer of a parent or grandparent or an aunt or uncle or something like that. This. You know this well right or even if they don't have to sign off here's another thing. Even if they don't have to sign off if they're gonna be upset if they sail in fact that's one of the questions that we typically house. You know he just just you know to get an idea. Is there anybody that would you know have something to say about it that would might be upset if you sell your house. That's that's a great way to to. To respond to that right that's a great way to cover flush that out is there anybody that would be upset if you sold my house. Right so there's also title issues. You know it could be where. You know somebody else inherited the house or it could be maybe they you know. Maybe they've got a long that was foreclosed on and they got it back somehow or whatever right could be title issues may be a you know house was in a brother and sister's name and the brother passed away you know but they didn't have a wield so this'll different issues there that there. Might have to be work right so those can be potential deal to some of those can be worked out for example. Some of those can be worked out you could hurt attorney to do like I've done this before. When you know somebody inherited property and there was three or four Brothers and sisters and actually paid the attorney. To be able to clear all so like about how else. Right what is something like that cost easily is it an early that is. It depends on me the that is not an opponent here feels significantly enough that you run your numbers right that is Gannon. Significantly impede their profit and. It really depends on the deal they really depends on the deal and how much or pay him for a major bug house for 5000 dollars if my Nia and I. They might you know so there could be title issues but I have actually paid attorneys to clear that up. And you know and and and I would pay it out of the closing proceeds. Right. Slow. So it shows up on the high and bright and sometimes there's back taxes over property that's one of those things that you always wanna ask. You know a potential seller you know do you know if there's any back taxes or anything on the property now some of we're going to be offended. So you just have to be ready for it. And try to be as tactful as you care and you know like the especially if you know somebody is in the distress situation. You know you can start out lesson is simple on the lines of you know I don't mean to offend you but I talked to a lot of people and sometimes one of the reasons that they need to sell. You know maybe there is back taxes are leading to judgments or something like that. You know do you have anything like that that might show up for the title search that would prevent us from being able to buy the property. Or that would have to be paid off before we bought the property. See and you're not even you're not specifically. I hear you're negotiating in that but. You're nuts you're gonna around about to ask the question more politically correct way instead of just making people and so initially answered the phone. Which is one of the things that we go into deep snow and com and a three day events right. You go into a lot of its own verbiage in the way that you go about asking me questions and conditioning whoever it is you're on the phone went in the most ethical way. To get a question answered without. Making a mad exactly I think you asking me a call 877 Larry go. Text the word brag BR eighteen to 8038976063. For the digital investors kids. On 877 Larry guys can also get updated our latest information on where gonna hold our upcoming three day event. Yes you mean follow very. Back radio. How about investing in real faith is being rich and Dennis. From commercial break gotten tougher. So they went and you've got. Today we have been talking about aren't. And a question to ask a seller when you're on the phone with a seller before you make the offer to kind of get the best information to land. The information interning the best offer. Right exactly right exactly talked about motivated sellers he gestured jiving trying not to write a step down you can email info at Larry going suck com. And I can get back to you with any questions. That you got or you can go to brag radio dot com and just. Listen to the Australian. Right right yeah we talked about motivation. You know. Maybe shoot some has been divorced health issues have been transferred they've lost a job had a death in the family. Or they inherited the property universal public that. Then we talked about different deal killers mindset like you know one of the things I mentioned that you wanna ask is you know those are apparent. In our any but is there anybody. There's going to be upset if you sell to anybody and it would be it and you can start out and say. You know one of the things we've ran into in the past is sometimes there's a family member that might be upset if you sell a house might have some bulls say about it. Does anybody in your family unit that you know that would be upset if you sell the house. You're very good about I'm politically. Are asking questions politically correct. Well you know the whole key is you got to be give people like Q in disarm or shame you got to disarm them write a new name because they have there guard up. You know from the minute they open the door and you walk in the house. You know. And you know you're bill will report with them and sometimes they're not really a realistic about what they want for the house. That's for they have some tentative via the link there it is so guys. I don't care what anybody says if you're in rule states you're going direct seller you need to have a few sales skills. I agree you a little gossip about it. You've got to have so it's no different than going in the home and sell at home improvements. Or insurance or anything else just the garbage right changes its own Allen needs to remain the same. I'm like you said because we have to disarm and then immediately and they probably got multiple. I direct mail pieces and you on how those people it's not Tom on the phones that can be jaded from this conversation fear that's so true in fact. I've got friends and we have students and you haven't ran out. The do have one can tell you. You pay me an accountant's. Pay you to be memorable. And and then you're down our Alina we're in here. It. If you want with that crickets. So. What was even goes so. Basically. And a plan that world was fear not but and not all rat out DT Alan. And now right so but basically you duties and sales skills of guy basically does the whole point of areas and it's a very potent that you need to. I mean you don't order but like I remember we used to do some Khamis in the locker room doors when we were in the home improvement business. And you know we were by and houses also what we were I had some young young guys out there like high school does. And and they were careless and knock on the door and they knew rubble houses and and this young kid James. He knocked on the historically came to the doors she says. He's you know he gave us a little spiel about you know ma'am where an area talking of people went to home improvements we have special financing available. Blah blah. And she says it's sunny. It's funny I don't even know from Libyan embassy here my husband just dad and I'm probably sell this house. And he's great how much you'll four. It. On the true story you look at it makes it up a little can. How do you think that would over the hunted. I. Exactly. So you've got to you've got to use a little bit brutal report with people get them polite Q and trust you right now. And and it all starts even with the very first phone call right who would win. Now first of well when you're generating leads for all market properties right from motivated sellers. There's two ways you can have those leads coming in with a usually several ways you can have a go globe website at opt in bright and at a website. And and that is where you have to be reactive where they opted in the after response. Right but if their own line. All we've got to do is still out that form and then they're off to the next web page of Finland and the former colorful them right and so. If their own line and I suggest you do whatever you can to get them call right. But you know you also want to have opted website if you have one like you can check out. Like O Leary about houses dot com and see our website at what we do to generate. Solely as well. You can also have people call me Buehrle Craigslist as may be doing right now with the phone number if you do direct Mellon don't suggest you put your website it. You wall them to call right right. And there's two different ways you can have a call go straight to voicemail. Or you can love and now some people use. A liked Dave. Live virtual bullet that actually go to Google's grip and like I can call right electrical sooner. And it is so mobile me even use virtual systems in the Philippines. I don't recommend doing that fortunately it's cause those like gold okay NC. And I have that habit. You know we put out silence at a house science and con and about a few couple months ago. Well I'm Panama company buys things reporting back and look at the 57 in the car back. Yeah or whatever come but I'm randomly and oftentimes we'll call Nancy other people's sons call and see what their follow up sequences like. So it goes a little bit deeper team than just whether they have a coughs and answer the caller whether they answer I'll have a ready to sleep a voice now. There's one number that a column opera science. Has been popping up. On my route and say it goes to a voice now and you leave a voice now and then they have a call sooner. Now will take all those leads that and I just hung out I didn't mean a message. And in anything. Listen to the message in there hung up just to see what was gonna happen. And Annan it has been two weeks now since I call that number and initially they text mean. Right after I hung out and pay its arguments to. And in a day later that it takes to me again they tried to call every day for five days. To get you back on the phone good and it was one who has that job yeah they did like there's sequence. And finally yesterday I mean it's been two weeks now finally you know that girl a girl called me. And it wasn't the bitty girl you know the ninth little Benny Graham omelet that occurred at first that will link at call senator Kirsten. And colony just a follow up only economic you know ass house loses well and I. On the future violence to excellence in thing opulence now. Should let him go through product that you so she only wanted to get information. To turn over to somebody else. Announcement until president do the same thing. Right so maybe she was in the Philippines who knows if huge in the Philippines she hugged Mary gated English rule was flying. Completely silent although AS it's humid out if she in the Philippines island and Eric surprise. That's funny that's. So yeah you there's two different ways of doing and have a Google Voice mail somebody call you back you can have a lot of answer. I suggest especially if your story now you want to those calls herself maybe you have. Maybe you have a full time job and you can't do that but have somebody. Calls you get past lives or one of those type of services. It to do that for you right now you can you can hire there's third party services out there we can put you in touch with some of those as well. That would take those calls for you but you need to especially if you're generating a lot and leads. That needs to have a lot two that's very very very important people like instant gratification. Because those lead to the old Mosley I mean think about it. It is every deal you make 101000 dollars if you were just holes properties. That every deal you make 101000 dollars. You never know which calls going to be that 101000 or call never it and then you might have spent 500 or 5000 dollar mobile market. Right so it's really very important. That you nurture and protect each. That makes them and it better and each and every the its goal it's goal. When we come back come and talk about some specific things that you will say both on the fold. And when you get to go home. It's not only exactly. What to do. Harry. And before we go yes can you call 877 Larry gathering of the digital kids sent out here email there are. Training links in there for our. Models to a reseller finance lease option also how we dates trade did. Investors can also includes a digital hub comes up outlook and emails they day trading book. So 877 Larry go our text the word be our age seats 8038. Now and 76063. Both come back to brag radio. Best thing. I really safe if you rigs and dinner. We want to go you one thing that I haven't really mentioned that is coming up now eleventh on a sub pop and young and with that don't. I'm. Like now runs a year. And the lines. And music. On the lines of bean dinners we need us to begin with your blood and a few weeks ago. You're gonna pay. The way your blood. Not your first born that your own blood and weird and data into a few weeks ago it was make an economy. But time is coming up in June while Islamic component you pleasantly so far in Indian. OK good good little paper they make fun of them haven't blood drop you on me all the time. And it's one of the latest things. But I have been going to get people prepares been prepping our office. Four win we we get our current schedule thing for people on not to coming give blood we will have the American Red Cross blood mobile. Out of the office and link wiley. And we would like for everybody this season listening rains to an insurance so if you aren't going to be in or around the Charlotte there nearly quietly area. Where can make it out to the office in my piling on June 26 we will look at income and be part of our but it will be our first one. I'm not sure if we're gonna make it an annual thing or not island bike to bike and it depends on. Depends on you really the results that we did the American people that we have come out. With what we're able to act to generate with our efforts whether they will. Wanna work with again. You know and I'm excited that we eighth inning of black. I'm getting input and yet you. You. I'm getting of black. We have several other people in their profits that are. I'll ready willing and excited and going to select the slot that the Sonnanstine gets in each nominee. In vote for aggregate comic in India in the deep south and and the time slots. I don't think that they turn anybody away but they do like for us to have some appointments. Setup for people coming of blood. That's June 26. I think 337. Earning. And we'll have investor kits ready to give out to all new world now we will. Aren't right out we will do that donate a pint get an investor. Let me. Earn record. We've got there that's not knowing handsome and now we have summarily got negated those more than anything out on a forget that we just told people that. He doesn't want to be here and for mules Saturday but he's used to it. Actually if we act again now for an event attendance and he's nine. And he has built a 40. Deals on. The field. Seen uneasy. So we're talking about dealing with and advertised property's market properties and the questions to ask you wanna look for somebody that's motivated. You've got to look for the motivation what is their motivation. And and you also gotta look for deal killers right. Motivation might be you know divorce helped job loss job transfer. Probate the just in her house there in foreclosure. He notes shorts or they're about to lose our house ever although our motivation. Right. In the there's deal killers like parents grandparents. You know that was you know maybe their neighbor's house for maybe. You know they gave the person Olsen in they told if you get to this house you know you let me know I want it back anyway. And title issues back taxes liens judgments code violation maybe the mortgages to. You know whose name is the house and and all that stuff right and there's there's those those were all. All deal killers. You know we talk a little bit about you've got to you've got to build that report so when you talk to someone. You know when they call units of the fold or you call them back. You know you just want to introduce herself to be calm you know don't be really aggressive pails code about about your house you know. Published that's exactly waiter talked a few near them at issue here and match right you want to be like this. Right as much as you can't. Stole the same speed they talk and the way it right if they're talking real fast in your real slow you can lose. Right because they're like come on get on with you know with. Right or rhetorical fast and their real slow. This link and you're gonna sound like its sales. They now know so which you've got to do is you know he used you love you responded to our postcard we sent out about. I'm houses and we do help a lot of people. So what tilt it a little bit about the culture drugs. Right he won't be Colombo a little bit and right. And what does it what is it that you say. And in about the person occasionally land. Yeah in negotiating the person who cares the least wins that's exactly what I say those who can but but but the I can't always remember you remain and the talent and a straightforward yet as in other words if I give you a quick example. I had a lady that this was years ago I was dealing with the and I tried to bar property. And I think I'll offer her life. Oh 3000 dollars or else I mean it was she'd inherited the house she had nothing in it. She wasn't even live in live in and Hillary think she was raining and now for 250 models small brick house about four hours away. So she. I think I'll for three dials no offer of 2500 dollars for that's right. Because she called back two weeks later I'm at the drop through McDonnell's right no I'm at Wendy's that's right that Wendy's. How you're college each dozens conversation on the if you don't ever call a conversation you and I had yesterday that the whole another. He calmly admitted that ten years ago. I'm in rated show you well remember it was OK okay because. She calls up. And I'm certain that the drop through at Wendy's OK she calls up she says you called me last week about my house you offer between top without hundred. If you can give me 3000 dollars that I can have a by the end of the week I'll take. I said Rochelle whole world. Yes can I have a double width achieved what we know and it's no tomato. And can I get a frosty. Because. She dials way. That this piece. And when yelling at one place where prop up the so so. Took to make my point the person who cares the least wins. She could all be back she's ready to sell my house but to me the most important thing is looks bright idea. Write them and their the most important thing launch. So Arcandor pulled out I couldn't you know stop technical person to drop through all the old bracket rolled the window open and talk tour. But you know but I do it right so the key is the person who cares the least went right. So. When you get them on the phone that called unity just we'll talk like them talks slow unless they're talking real fast right to a little bit about your house. You know what sounds nice when are you trying to sell you know why are you selling it in the and just let them talk. Just go into it leveled now you know how soon we hope and so. You know. What if you tribe in the past have you thought about listing it with a realtor while would you not want list I'm letting them tell me what they're not analyst with the real. Well what they're doing is giving you clues to how do you. So. But today I didn't know realizes that's exactly right have you sold your house before how on behalf of the house promised to pay for. Have you had an appraisal. With last time it was updated and now you know are not able to right now and questioned by and guidance if it's in an email that in the back radio dot com or. At a brag RadioShack common into the hole Chilean exactly or the next week and we're going to gold and one of the time stamp cost us to our. Are we really we are. We are we gonna go from step by step authorities Animal Planet not for next week. I'm ready now. Exactly hopefully at nine and is boring and sound man of god and so. So yeah but we're gonna go through albums to you what to say when your house house at the appointment. And what to say in the and you need some help if you need me to go in the house with two I'll we'll go in the house with to help you yes but will have to deal. I mean is there enough. Like at the annual exam streamlining your. Enemy yeah that appealed to me. I'll go and how she can go along we'll know about clothes that make some money. Will split the profits right now dead and analysts tell them where they can get a free copy in my book that shows all the stuff. Are real they date training and a thumbs up offer both in the investor's kit. A Obama's mother links to our training models. So if you give me a call 877 Larry go act can get that out here email even text the word BR AG and a 38976063. But give me policy since seven Larry death. Make sure to tune in every Saturday for brag radio leading the world to be rich and generous. Larry in Kansas we'll show you how to invest in real estate and them anyways real estate creates the ideal investment. It's brag radio be rich.