By the end of this video, you’re going to know exactly what makes a seller motivated to sell their home and what that even means, motivation?
What does that even mean?
Check it out. I got a great tip, so stay tuned, because I want to let you guys know how you can really identify a motivated seller or not. Today, you’re going to learn why a seller would even be motivated to sell their home.
Also, what does that even mean if you’re working with a motivated seller?
Also, do people take advantage of people that are motivated that need to sell their home? Is that something that happens? And how can you work ethically with someone that is motivated to sell their home?
So let’s dive right into everybody. What is a motivated seller? What is the definition?
Well, I meant really a motivated seller is pretty simple. It’s someone that’s motivated to sell their home really fast or quick and it all. It doesn’t all always have to do with distress and financial problems.
It could be just someone that doesn’t want to waste their time or their energy or their mind or their thought. They just could be a burden to them just because they don’t really want to think about it. But a motivated seller is someone that just wants to sell their house quickly, fast, easy.
So what are the four pillars of motivation? What causes a seller to be motivated to sell their home?
Well, what you need to look for is, number one, is timeline. Okay, how fast do they need to sell? When do they need to get it done? Is it in 90 days? Is it in seven days?
Is it in a year? Knowing a seller’s timeline will let you know exactly if they’re motivated or not. If they’re not motivated, they’re probably not going to have a timeline.
That’s very quick. But if they’re like, hey, I need to sell this house in 14 days, well that’s that’s a lot of motivation. Another pillar of motivation is the condition of the property.
Most of the time, if a seller wants to sell their house quickly, it can be due to the fact that their house is in terrible condition, it needs a lot of work, or maybe they just don’t even want to do the work, and they’re just motivated to get rid of it.
For example, if you have a house that has a leaky roof and you don’t have the money to repair it, and you just want to get out of there. You’re tired of that leaking, and you think it’s going to cause more problems, there you go.
That’s that can cause motivation because of the distress of the property, or the house keeps on breaking, or, like leaking, or there’s problems with the electricity, there’s problems with the plumbing, that can cause a salary motivated.
So we’ve already gone over timeline. Timeline will cause someone, if they need to sell quickly, they need to get it done, that’s motivation or condition of the property.
They’re worried that, you know, if they don’t do the rehab, or they don’t fix the property, they don’t have the money to fix it, it’s going to get in worse condition. And they or they’re just tired of it. Is condition.
Condition is another one of the motivating pillars, okay, another one of the pillars of motivation.
Well, guys, it’s, it’s pretty simple. I mean, it’s redundant. It’s motivation. Why do they want to sell? When I talk to sellers, the first thing I ask them is, what’s got you interested in selling? What’s motivating you to sell? I don’t say motivating. I just say, why are you selling, or what’s got you interested in selling? This sounds like a great house. What’s the reason? And that is probably the one of the most important questions to ask a seller to find out their motivation.
Is, why are they selling? Are they selling because they need a move. Are they selling because they’re out of money? Are they selling because there’s a death in the family and they have this property they inherit and they just want to get rid of it? There’s so many things that can motivate someone to sell, and it can’t.
It can be things that wouldn’t even motivate you sometimes, like I talked to this one guy that had a million dollar property, and he he had all the money in the world. He didn’t need to sell the house, but he wanted to sell because he was just a burden for him.
He just didn’t want didn’t want to think about it anymore. For me, I’m like, wow, I got a million dollar house. How is that a burden? But for him, he’s just like, Look, I just want to get rid of it. That’s I don’t want to think about it. I just want to get off my books. And you know, that was motivation for him.
So again, out of the four pillars we’ve talked about three, you got timeline, you got condition, and you have the reason why they want to sell. Motivation. Okay, now the last pillar that we’re gonna go over, the fourth one, it is a kind of interesting pillar, because this doesn’t always determine motivation, but I would say price.
If a seller, you’re talking to a seller, and they already, you ask them what they want for the house, what they’re willing to take for it, if you bought it, and they give you a low price.
That’s usually determines motivation. If they’re already in a range where it’s low, and they they understand that it’s low, maybe they’ve talked to a lot of people before and they just want to get it done.
They’re not trying to mess around and play around and ask for a high price.
They’re just like, Look, if you give me $100,000 I know that property’s worth 250 just give me 100,000 and I’ll be done.
Then you can ask like, oh, wow, you’re giving me a great deal. Like, you know what’s, what’s going on. So asking the price is can be a good motivation factor, but not always guys that.
That’s why I’m saying it can be a flipper flopper. When a seller says, let’s say the house is worth 300,000 and they asked, they asked you for 350 400,000 don’t let them saying that they want more.
Because I explain to them, if they flip it, that costs and how much, how long it will take.
They most of the time. They say, I don’t want to flip it. I say, Okay, so we’ve talked about listing it, not a good option, keeping it or renting it out, not another not not something you’re interested in, and flipping it you don’t want to do it.
So that kind of leaves at the moment, Mr, Mrs seller, the cash offer. Now I will tell you that my cash offer, it is because I buy it for cash. I buy quick.
There’s no fees, and we can get it done fast. That’s the lowest offer you can really get is that, are you sure that’s something you want?
If we can get it done for you quick? And they say, yes, that’s something I want. And then obviously, among cash offers, you have seller finance offers that you can negotiate, doing terms and stuff.
But basically, I walk people back into the cash offer I have, because I’m just like, hey, are you sure I’m never here to convince someone to take a cash offer. I’m here to help you know your options. I’m like, a deal engineer or consultant, and that’s the way, right way to do deals. No matter what you do, you got to show people what there is available to them and help them make the best decision for them.
So if you want to work with motivated sellers and be ethical and do it the right way, present them all their options and let them decide what’s best for them. And no matter if listing is the best option for them, go ahead. If you’re an agent, you can help them. Or if you know agents, you can refer.
So there’s always ways you can benefit people. Or if they want to flip it, say, Hey, let me give you some of the contractors I use.
You can provide value to them, and who knows, maybe they’ll work with you in the future. What you have to do is, when you’re working with people, you have to look at the Win Win scenarios and help them achieve their goals, because it doesn’t matter if it benefits you in the moment, you’re helping people succeed, and that’s what matters. So that is how you deal with motivated sellers, ethically in the right way.
