otiating. Check out this video to learn more.
Have you been trying to figure out how you can close more deals with less leads? Check out this conversation I had with Nicholas, Nick, as we discuss how to use rapport building to get more deals when talking to sellers that are off market. Right here,
what I’ve learned, you know, being the lead generator, I find myself constantly talking to investors trying to mindset them into actually calling all the leads, right. And I know that sounds stupid, but who needs to be mindset? It’s a call leads, right? I know that people could think that that’s not a thing. It is a thing, okay. And what I’ve learned is there’s a big difference between closing deals and working leads, okay. And a lot of people, they might close a couple deals and then hire me, but then they’ll get good leads. And they’re like, Nick, what do I do here? I’m like, Oh, I see what you’re missing. You’re missing the working the lead part, right? We all know how to close a hot deal when it lands on our lap, find someone that wants to buy it, right. But what do we do with a diamond in the rough? Right? What process do we put that diamond through? Or that that piece of cold through to make it become a diamond? And I think that that is the majority of lead gen. So a really important skill is working leads, right? That’s a skill that’s different than closing deals. And I think people often think it’s the same thing. And it’s not. So the poor versus negotiations, in my opinion is step one. And I have been teaching a lot of my clients to lead with rapport. I think negotiation sounds scary. I think negotiation sounds ugly. I think that even if you’re in a negotiation, and you’re the one who asked to take less no matter what, you feel a certain way about that. Okay. And now, that’s not always a bad thing. I know, we got to close deals, negotiations has its place, no arguments at all, they’re what I resonate more with is building a relationship. Okay. And so a big piece of what I want to chat about today is focusing on that relationship. Because if you get them to love you, or try to get them to love you, right, they’re not going to love you. But if that’s your goal, and they end up on liking you a lot, then that’s still really awesome, right? But there’s no better way to pay less for a house than to get the owner to like you and write in an order just got over a
little dressed you the same thing. Right?
Exactly, exactly. And then even if you have to negotiate once they like and trust you, guess what, they’re gonna even appreciate that a lot more, they’re going to be more receptive to those negotiations if you have that foundation or relationship. So
Nick, can you tell me how you would start building rapport? If you were to do a conversation like that?
You know, for me, I think it’s keeping it light. I think it’s softball questions. I think it’s, I would come up with three to five questions you want to know the answer to but isn’t too invasive. Right? So let’s just say one great one is, oh, you know, how long has this been in the family for as a real great one, right? It’s, oh, they might start talking about grandma, grandpa or mom, or in all we know, he left it to us. And, and that’s like, when you get them going on good stories, I think is another good indicator, right? And another tip would be look for positive distractions, right? You know, where can we take this call that it’s not all business all the time with them? And where can we look for opportunities to interject stories about our past and our lives? And I think one thing I’m really good at is just like relating to people. And I also don’t make people feel rushed. So I think that not creating a space where they have all the time in the world, I think is also really important. You know, it’s like if someone thinks you always got to go, or you know that they’re on a time crunch, they’re not going to be their authentic selves with you because they’re going to try to be respecting your time. So keeping it friendly, keep it light. Okay, I don’t think we talked about money on the first one, maybe even two calls, that’s how light we keep it right. We want to show up as a resource. We want to show up as a friend, okay, where someone has been in real estate for a long time, and we want to make sure they make the best decision possible for their property right is kind of like the attitude that I like to carry. So that way, it may not all be focused on price. And now it’s more like what are your goals? So one great question I have and this is super ninja for realtor investor combos is when you get the lead. Let’s say you get a lead from us. Hey, I see you spoke to Sheree about 123 Sycamore Street. Yeah, sure did. Oh, great. Well, look, Sherry told me you may be interested in selling Why don’t you tell me how did you plan on doing that? Okay, I think that is a really ninja question. And what’s important about that question is they should throw up all over you. Oh, well, you know, Sally up the street sold a house and she made a killing and then Margaret did the same thing. And oh, okay, so now you know where their heads at now, you know, they want to sell because four properties on the street sold for Max dollar value, right? So it’s important for us to know where their heads at. And I think often as investors, we just come at them not caring where their heads at. And then we can have a mismatch. But if you know what they’re thinking that means you know how to get them to where you want them to be.
Love it, bro, exactly what you’re saying that ninja moves. So that’s something I do in my sales process when I’m talking to so let me actually show you what it looks like. I have what’s called an offer a paint masterpiece paints a painless offer calculator, because what it does is it goes through all the options that a seller has to sell their house, so you can flip it, I can flip back and wholesale, I can do innovation, I can do a burr, I can do a rental, I can do creative cash offers. So when I’m talking to a seller, I don’t go in there with anything specific in my head where I’m like, I want them to accept this. When I talk to a seller, I just asked them what options have you explored? Right, so I kind of like how you said how do you like to, you know, how would you like to sell your house? Yeah, right. Same things for me. It’s like hey, you know, um, you know, we buy a lot of properties, but we don’t always buy them the same way. I’m just curious before we dive into kind of like what we do, I was just curious, like, what options have you explored so far to sell this house so it’s not like invasive, I’m not like being aggressive. I just kind of want to know where their journey is. And then you know, I asked them if they don’t really have anything to say just say well have have any investors made you any cash offers yet and they’re like No, they haven’t you know, I’m saying we’ll have even thought about keeping it yourself and renovating it and selling it you know, after you flip it yourself, you’re gonna make it that way. And they’re like, oh, you know, I really don’t and then I’m like, Well, you know, have you thought about listing it or selling it to someone like are you able to sell it on terms like you know, maybe you keep it as a rental and or maybe you sell it to someone and you carry the loan you know, I go through all these options in what I call my offer offer option decision tree and depending on like, where they’re at like if they need speed and they don’t have time over here it says they want the highest price and have time I know what options to offer depending on their motivation so the whole purpose of like the rapport building for me is like where are they like I’m not trying to push one box it’s more of like where are you okay your house is currently listed but you’re kind of upset because the agent has a mental sell Okay, well you know the options that I have are you know, I can buy this for cash or we can you know make you some creative terms but again we’re not diving into like oh, this is my offer and that’s the old report bro is I just kind of talked to them about what they want to do.
And let me just call to everyone how genius This is because the hidden subtext here is the more you have to offer the seller the more report is important to you and if you just have a cash offer what do you care about report look man all I got Oh, I got his honor again. Take it leave it right because if that’s the only trick up your sleeve then what does report even matter but your your system that was beautiful by there like what you just shared? I hope you get some people booking this masterclass at the bottom because how was ninja bro what you just shared in a couple’s actually took a little screenshot just so I’ll send you
this if you want man, no problem like, this is for? Good. I love it because of when I so what happens is I put in the numbers. And when it does come to negotiation time, once we run the numbers, I sit down and I say hey, look, we’ve got a couple options for you. We already talked about how you you only really you don’t want to renovate it. So you only want to list it or do cash and actually give them their bottom dollar. I say like, Hey, if we go cash you’re gonna get for 26. But if you know, if you let me, you know list this for you, you’re gonna get more like these numbers are earnings.
And see this is this is the difference. I want everyone to know that this is the difference between having a business and being a wholesaler. Okay, I feel like this is a business. There’s nothing wrong with being all sailors phase one, right. But I think everyone should really strive to have this. This is so awesome. And this speaks to me as a business owner, I have a hard time relating to, even though I sell to investors, because like they don’t care about customer service and like they just care about transactions, you know, but what you just showed me I can clearly see your whole business model and then think of the seller. Oh my goodness, you’re not a wholesaler, Nathan, you’re a house selling specialist. By the time you’re done showing them all those options. That’s really cool.
Yeah, I love it because like, especially with the analytical people like the older generation that like they want to know their options. Like sometimes when I show this to older people, they’re like, look, thanks for showing this to me because I was thinking about doing this and that option, but now that I know the difference between your cash offer Mine is just for enlisting is like 40,000. It’s not worth 40k for me to go through the hassle at the moment, right? So it’s, it’s just way more transparent process. And anyway, building reports. So I’m huge on man, because if I’m talking to someone actually do care, I really do care about their situation. And if selling it for cash is not their best option, which it’s not all a lot of the time, I tell him that, like, you know, we can get this done quick. But like in your situation, from what you’ve told me, you should just list this thing. And I can help you with that. Right. Yeah.
And that also that has to help you sleep at night. You know, it’s like, I think about this, and I couldn’t be my business is cool. I get to make other people rich right with lead mining, so it is rewarding.
When I first started wholesaling. I think this is something that everyone faces, you don’t want to like tell people that you wholesale, because they like the common thing is like, Oh, you take people’s houses. And I explained to like, I don’t think I’ve never taken anyone’s house. First of all, because you can’t take someone’s house and the way I do business. And the way I tell people to do business is like if you present options, if you know how a seller is able to sell and you point them to what best fits their needs, you’re going to sleep great at night. So it’s definitely a great feeling to do this business because I’ve helped a ton of people out of situations where they were going to lose their properties quickly. So this is a really interesting situation. This This was a property in Colorado, and it was a millionaire multimillionaire had multipro tons of properties. This was a million dollar house and you would be like how can you serve someone that has millions of dollars like they’re not distressed? But this guy he had attended in his million dollar property that he was scared of? He was like a bodybuilder he had like piercings in his cheeks. He was jacked and tattooed, and he was scared of the guy. So he’s like, Hey, man, can I don’t want to deal with this guy, let them in now he’s gonna kind of crazy. I’ll sell this to you at a discount and you deal with it. So I was like, okay, and there’s someone in my my one of buyers, my network that was like, Yeah, bro, I don’t mind taking care of it. He bought it. I wholesale to him for 50k The guy just goes and knocks on the door. He’s like, Hey, man, I bought the house, I’m gonna need you to leave. You haven’t been paying the rent and the bodybuilders like, that’s fine. I just, you know, the the guy that I was talking to the previous landlord, he was really hard to deal with. I don’t know why he didn’t like me. So it was interesting to show like, Hey, you can serve anyone like I can’t. We helped out that. That landlord, that headache of that tenant and that issues they were having like was not worth it to him to have to deal with it anymore. So right and help people in many different situations.
Yeah. And so many people would be scared because it has a problematic tenant. And it’s like, no, that’s actually an opportunity for you to think about how much pressure you know, if you haven’t had bad tenants, you don’t know how much pressure that landlords under. I’ve had some nightmare tenants. And sometimes it’s worth a massive discount and never have to lose sleep over that guy again,too.
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