Nail Your Seller Appointment Like a Boss!
Get ready to ace your next seller appointment! We’re diving into how to prep like a pro so you don't fumble your words and end up feeling like a deer in headlights. You gotta have a game plan, fam! We’ll walk you through what to know before you even knock on that door—like your exit strategy and what numbers to have in your back pocket. Plus, we’ve got a live scenario where I recorded myself in action so you can see how it all goes down. By the end of this chat, you’ll be ready to roll into any appointment with confidence and charm!
Join me LIVE as I guide a seller through their pricing options right from their living room! Don’t miss this in-depth breakdown. 🏡💡 #RealEstateTips #HomeSelling #LiveSession
Visit https://www.paynelessflipping.com to learn how to do real estate deals the payneless way!
Ever found yourself on the brink of a seller appointment, feeling like a deer in headlights? Yeah, we've all been there! The vibes can get super intense, but fear not! We're diving deep into the nitty-gritty of how to totally ace those meetings. We kick things off by stressing the importance of having a solid game plan. You don’t wanna walk in clueless about the property or your exit strategy, right? Trust me, knowing your ARV (after-repair value) and what you can do with the property can make all the difference. We break down the steps you should take before stepping foot in that seller's door, including how to make a killer first impression—because who doesn’t want to be remembered as the friendly, knowledgeable investor? We even share a live appointment scenario—yep, we recorded it! So you can see how to navigate the conversation like a pro. Spoiler alert: setting expectations and knowing your numbers is key. By the end of our chat, you’ll be ready to strut into that appointment with confidence, ready to seal the deal!
Takeaways:
- Before heading into a seller appointment, you gotta have a solid game plan, trust me.
- Knowing your exit strategy is key; it saves you from fumbling around during the meeting.
- Make a bomb first impression by greeting the seller and setting expectations right away.
- Always be ready to discuss the property's condition and their selling timeline openly.
- Offer multiple options to the seller instead of just a lowball cash offer, it shows class!
- Understanding the market numbers and potential profits is crucial for making solid deals.
Transcript
Welcome back to the channel, everybody.
Speaker A:Are you gearing up for a seller appointment and you're not sure how to navigate it?
Speaker A:You've come to the right place.
Speaker A:Knowing how to operate and navigate an appointment can make or break your deal.
Speaker A:If you go into an appointment and you do not know what you're doing, you're fumbling around your words and you're nervous, it's gonna probably happen.
Speaker A:You're probably gonna be nervous when you first start.
Speaker A:But at least have a game plan and a sales process to take the seller through.
Speaker A:So.
Speaker A:So they know that you have experience or at least you know what you're.
Speaker B:Talking about in this video, you're gonna.
Speaker A:Know exactly how to prepare for a seller appointment and actually have a live scenario of you watching me.
Speaker A:Actually, I recorded it.
Speaker A:Cause I asked the seller to say, hey, is it okay if I record this for training purposes?
Speaker A:You're gonna be able to watch me on a seller appointment and how I navigate through the scenario.
Speaker A:And you'll know the key points to address during a seller appointment.
Speaker A:So let's talk about what you need before you even walk into a seller's appointment.
Speaker A:First of all, you're gonna need to.
Speaker B:Know what you can do with the.
Speaker A:Property, what your exit strategy is.
Speaker A:If you just go in there and you're like, I don't know if I'm gonna fix and flip this or wholesale this wholetail this.
Speaker A:You got to know what your extra strategy is and what you're trying to do with it.
Speaker A:So you have a good idea when you go into that appointment.
Speaker A:If you know exactly what you're trying to do, you also need to go with kind of a good idea of the numbers.
Speaker A:You're going to go to that house to get a good.
Speaker A:A better idea of the condition it's in.
Speaker A:But at least you need to know the arv, what it's going to be worth if you fix and flip it.
Speaker A:And also you know a general idea.
Speaker B:Of what you're going to need to.
Speaker A:Get the house under contract for.
Speaker A:Because if you just go in there and you're like, you just don't even know numbers.
Speaker A:And you could waste a lot of time and just not come off like, professional.
Speaker A:So you want to know what you're doing and know the numbers and the exit strategy before you go.
Speaker A:Before we jump into the second point, I want to invite you all to my master class.
Speaker A:It's@painless flipping.com, it's absolutely free, where I show you exactly how to get started in wholesaling, real estate investing.
Speaker A:Check it out.
Speaker A:So you got one good shot to make a good impression on seller when you go see them.
Speaker A:So what I like to do is when I knock on the door, I like to shake their hand, say, hey, thanks for having me over.
Speaker A:My goal today is just to see what I can offer you, let them know why you're there.
Speaker A:Right.
Speaker A:Hey, I'm here to see what the house looks like so I can make you an offer.
Speaker A:After I take a look at the house, let's take a seat and I'll be able to run my numbers and show you exactly what I can offer.
Speaker A:You want to start off the appointment and when you meet the seller by setting the proper expectations of what you're going to do.
Speaker A:If you just knock on the door, they welcome you and you walk in and you just start looking around, they're probably like, okay, I guess this is what he's doing.
Speaker A:But if you just say, hey, look, I'm just going to look, take a look around the house.
Speaker A:And then after we can talk and discuss our options to buy your house, they're going to feel a lot more comfortable.
Speaker A:So after you shake their hand, you look around the house, see the condition it's in.
Speaker A:So after taking a look at the house, you want to take a seat and go over the condition of the house, everything you just saw.
Speaker A:You want to talk about their timeline, how soon they want to sell and the options that you have to buy it.
Speaker A:And then once you're able to talk about that openly and honestly, you want to make your offer.
Speaker B:Okay.
Speaker A:And not a lot of people, they won't make the offer, right?
Speaker A:Then they'll just say, hey, let me go run my numbers for me.
Speaker B:It just depends.
Speaker A:You got to vibe it out.
Speaker A:If you know exactly where you need to be, you make the offer.
Speaker A:And if you don't, then you can.
Speaker B:Say, hey, let me go run my numbers.
Speaker A:But basically that's what you want to do.
Speaker B:And the thing that I like to.
Speaker A:Do, so I feel confident as I talk to the sellers is I present them multiple options.
Speaker A:I just don't want to go there and make a low ball cash offer and hope they accept it right there.
Speaker A:I want to show them all the options they have and just say, hey, what's best for you?
Speaker A:And actually there's a video right here of me going through my sales process step by step with these sellers.
Speaker A:So check it out and tell me what you think about my process and if you think it's any good.
Speaker B:Basically what I wanted to show you, I'm Going to share my screen with you guys just so I can show you what options.
Speaker B:Options we have.
Speaker A:So what I do, I just show.
Speaker B:You the whole process of what I.
Speaker B:What I take this thing as.
Speaker B:So this is your home for 450.
Speaker B:They have it listed on there.
Speaker B:And you're saying most of the offers are coming in around 400, 000.
Speaker B:Is that what you're saying?
Speaker B:You're saying so quickly.
Speaker C:I wrote our Joe home buyer which said 426.
Speaker B:426.
Speaker B:Okay.
Speaker C:And they still canceled.
Speaker B:Yeah.
Speaker B:So do you believe they really had someone at 426, or do you think they might have been.
Speaker C:They snapped me up and said, we'll see if we can whittle them down.
Speaker B:Okay.
Speaker B:So I'm looking around at comparables.
Speaker B:That's like what you do as a real estate investor.
Speaker B:You just want to see what.
Speaker B:What houses are worth.
Speaker C:House down the street smaller than mine, 475.
Speaker B:Okay.
Speaker C:That was a couple months ago.
Speaker B:And it sold.
Speaker C:Sold.
Speaker C:Okay.
Speaker C:Updated.
Speaker C:His house sold.
Speaker C:Okay.
Speaker C:And his yard looked like he had two stumps.
Speaker C:Two wood stumps.
Speaker B:Pretty good.
Speaker C:Yeah.
Speaker C:Two wood stumps, yeah.
Speaker C:And I'm on a third of an acre.
Speaker C:He was only on about a fifth of an acre of that.
Speaker B:So I'm looking over here, and across the street, there's 610.
Speaker B:Now, these aren't necessarily comps because they have not sold yet.
Speaker B:So someone might be able to buy it for less.
Speaker B:But I'm just looking around.
Speaker B:So this house, you can see that it's not like a complete rehab, but, you know, it looks decent.
Speaker B:And it's been on the market for 114 days.
Speaker B:So when I see that it's been on the market for a long time, that makes me think the price is too high.
Speaker B:Price too high.
Speaker B:So just immediately I'm like, okay, maybe like 580.
Speaker A:They're.
Speaker B:They're too high.
Speaker C:Yeah.
Speaker B:So then I take a look at another one, and this one's 640.
Speaker B:You would say, okay, they did a flip.
Speaker B:They got the nicer kitchen, blah, blah, blah.
Speaker B:Okay.
Speaker B:How long has that been on there?
Speaker B:23 days.
Speaker B:Okay.
Speaker B:So we.
Speaker B:We're not sure what's going on with this one.
Speaker B:If I really wanted to know, I could call the agent and say, hey, you're getting a lot of action on this.
Speaker B:Right?
Speaker B:So, but nice yard, right?
Speaker B:Like, nice.
Speaker B:That is cool.
Speaker C:Yeah.
Speaker B: I do think, you know, east of: Speaker B:Some people just think that's, you know, more.
Speaker B:Yeah.
Speaker B:So let's go over here, we'll look at this one.
Speaker B:So 5 8-580- it's already dropped down from 5, 90, 20K.
Speaker B:Price cut.
Speaker B:Been on the market 18 days.
Speaker B:They usually it's been on longer but somehow they get it to reset.
Speaker B:This one not flipped.
Speaker B:Right.
Speaker B:It's just, you know, it wouldn't.
Speaker B:Yeah, it needs.
Speaker B:So I would say this is a decent comparable to you guys like, but at the same time it's, it's a different style home.
Speaker B:It's built probably a little bit newer than you guys.
Speaker B: eight, you're, I think you're: Speaker B:So not that big of a difference.
Speaker B:Let's see half a million for this.
Speaker B:Oh okay.
Speaker B:So that's kind of, that's pretty similar to what you guys have.
Speaker B:But not flipped.
Speaker B:Right.
Speaker B:So they're selling.
Speaker C:It's only three bedroom though.
Speaker B:Yours is four.
Speaker C:Oh yeah.
Speaker B:And yours, I think yours is eight.
Speaker B: e, I think it says right here: Speaker B:This one is 16.
Speaker B:So it's pretty dang close.
Speaker B:I wonder, you know, maybe they have a open layout in the basement or something.
Speaker B:But not flipped.
Speaker B:So my thought is like if you were to flip this one or your house, this would be around 555 60.
Speaker B:That's my thought.
Speaker B:So as a flipper, if it makes sense for me to flip your house, I'm gonna buy it.
Speaker B:And that's, that's what the numbers are.
Speaker B:So right here is a calculator.
Speaker B:This is how we make money.
Speaker B:So if I type in 550 for your house and I buy it at let's just say 400,000, let's just say we were able to pay cash for that 400,000.
Speaker B:I borrow money.
Speaker B:Most flippers are gonna borrow hard money and they're gonna pay interest on it.
Speaker B:It's gonna take them probably about five months to flip and sell it.
Speaker B:And they have to pay closing costs and commissions and your house in order to flip it to get it to pressing condition.
Speaker B:It's huge.
Speaker B:This is a medium rehab.
Speaker B: d I put in the square footage: Speaker B:So for someone to flip this house, they usually want to be in the green.
Speaker B:Right here we're in the yellow.
Speaker B:So somebody might look at this and be like, I would probably do it.
Speaker B:I'm going to make people want to.
Speaker B:At the moment they want to have a 15 to 20% return on their investment.
Speaker B:So again, that's why I think Joe Homebuyer, all these guys are like, hey, let me just see.
Speaker B:I can check.
Speaker B:There might be somebody that's willing to do it.
Speaker B:But in order for this to be like a home run for someone, obviously, you guys know, like, that's the offers you've been getting.
Speaker B:Three, like, once you go to three, I think 370 gets you in the green.
Speaker B:Yeah.
Speaker B:So I think the max that someone would pay and stay in the green would be.
Speaker B:That's too many zeros.
Speaker B:380 price.
Speaker A:380.
Speaker B:So that should be green.
Speaker B:But does that kind of make sense, like how the numbers work?
Speaker C:Yeah.
Speaker B:Okay.
Speaker B:Now I understand that you guys, like, you don't care.
Speaker B:You're not just going to sell it for 380 or less if you don't want to.
Speaker B:Like, you're going to.
Speaker B:You're going to sell it when you feel like you get the right offer.
Speaker C:Right.
Speaker B:So if you renovate and resell it yourself, you could.
Speaker B:You're going to walk away with more money.
Speaker B:Because this, this calculator actually breaks down if you guys just do it instead of, you know, selling it.
Speaker C:Right.
Speaker B:It breaks down right here.
Speaker B:And hopefully this is useful information.
Speaker B:I'm just.
Speaker C:Yeah, yeah, I see a lot of things that.
Speaker B:So if you were to flip this yourself and sell for 550, it would take five months.
Speaker B:So let's say five months from now you're done flipping.
Speaker B:It would.
Speaker B:You'd pay commissions and fees 6%.
Speaker B:So those are fees that you'd pay.
Speaker B:And your rehab costs would be estimated around like 49,000.
Speaker B:And it takes away all the fees that are.
Speaker B:You would pay.
Speaker B:And it says, after everything said and done, if you were to flip this yourself in five months and rehab it, you'd walk with 475.
Speaker B:So if that's an option to you.
Speaker C:Put that down to 3.5.
Speaker B:3.5.
Speaker B:This one.
Speaker C:I already got some bad.
Speaker B:And I also could do it, like, extremely cheap for you too.
Speaker B:You mean to list it, correct?
Speaker C:Okay.
Speaker B:You mean to list it right?
Speaker B:Like you have someone that would do it a lot.
Speaker A:So there you go.
Speaker B:489 if you flip it.
Speaker B:So if you.
Speaker B:If you're like, hey, let me just take five months and put about 50 into it.
Speaker B:And you're speculating yourself.
Speaker B:You're saying, hey, I think it'll be worth it, 550.
Speaker B:It might be worth more.
Speaker B:You never know.
Speaker B:But a lot of people, that's why I show them this, because it's like, hey, you don't have to sell it.
Speaker C:You could, you could fix it up.
Speaker B:You're going to make about 89k more speculation than if you sell it to someone like me that's a cash buyer.
Speaker B:Now, the full service program, that's what I was referring to, where we put it on the market.
Speaker B:And this is how we run the numbers.
Speaker B:So if we were to list this house on the market, you had it listed before.
Speaker B:Didn't you say you put it for half a million?
Speaker C:533.
Speaker B:533.
Speaker C:Okay.
Speaker C:Started out, then went down to 525.
Speaker C:Then it went down to 499.
Speaker C:I don't know yet.
Speaker B:Okay, so let's, let's say if we relisted this thing and I, you know, I take care of the commissions and the fees and whatever for list on the listing side, I'm looking at this house.
Speaker B:This is houses.
Speaker B:I feel like it's pretty dang similar in like, condition in the sense, like it needs to be updated.
Speaker B:499, this thing.
Speaker B:I would call the agent and I'd just be like, hey, are you getting a lot of hits at this price or what's going on?
Speaker B:And if he's like, we're going to drop it again, then we would know that.
Speaker B:But let's just say we listed this house on the market for 490, for 489.
Speaker B:And I put it on the market for you guys if it's at 49.
Speaker B:And usually we take 95% of that to sell it, like pretty quickly.
Speaker B:So then, you know, 3% commission on the commission.
Speaker B:Since the buyer's agent usually wants to bring, you know, they want to get paid 3%.
Speaker B:We could also try 2.5.
Speaker B:But 3% is usually like what tracks agents to bring their clients closing costs.
Speaker B:And then I add in a little for doing this, I add in a desired profit that I'd like to make for the, you know, the, the work that I would do.
Speaker B:Okay, so if we were able to sell this house, we list it for 49 and we sell it for 464.
Speaker B:After the fees and the commissions, you guys would walk away with 428, 645.
Speaker B:And that's if we did this strategy of like, let's put it up, let's show it to people.
Speaker B:They come in, they say, oh, you know, what needs a new roof or needs a new.
Speaker B:And then we say, hey, we can do concessions for you.
Speaker B:We can, you know, add that in there or we can do the repairs.
Speaker B:So when you look at your Options again, if I blast this out to all my buyers in, in Utah, we're going to be getting anywhere from like 380 to 400,000.
Speaker B:That would probably buy it now and just flip it.
Speaker C:Yeah, I've already had it.
Speaker C:400.
Speaker B:You've already had that.
Speaker A:Right.
Speaker B:And I might have some people that really like Sandy that might want to buy it, live in it themselves and flip it and they might go 410, 420 max maybe.
Speaker B:But that I'd have to check.
Speaker B:I'd have to blast it out and see is renovating it.
Speaker B:Is that an option for you guys, like to put the money into?
Speaker C:I would do it myself.
Speaker C:I know people.
Speaker B:Okay, so.
Speaker B:But is that an.
Speaker B:Is that something you've considered like, hey, let me flip it and get more out of it and just wait.
Speaker C:Oh, for me?
Speaker C:Yeah, yeah.
Speaker C:Okay.
Speaker B:You've been thinking about.
Speaker B:Okay, not a bad idea.
Speaker B:In Utah is also seasonal as well.
Speaker B:So, like, you know, selling in when it's coming in.
Speaker B:Right now, this is the full service program that we do where we list it.
Speaker B:I take care of the commissions and fees and all that stuff right now.
Speaker C:For sale by owner, which also catch another, you know, chunk out.
Speaker B:Exactly.
Speaker B:Yeah.
Speaker B:Because you're dealing with, you know, all.
Speaker A:That, but you're also limited to the.
Speaker B:Amount of people that will see it.
Speaker A:Right.
Speaker B:Because if I go on, I had.
Speaker C:A better response to Zillow than I had with mls.
Speaker B:Well, yeah, I don't know who your agent was.
Speaker B:I don't, I don't know how that worked.
Speaker B:But this, this would potentially be, you know, what, what you would get if we listed it using that service.
Speaker B:And then the terms, you said, hey, not interested in terms because I need the cash.
Speaker B:And anybody that does terms or they buy it and give you a down payment, they're not going to come up with 150,000.
Speaker B:It's just not going to be.
Speaker C:I don't have that much in my savings.
Speaker B:Right.
Speaker B:So the thing that I see that I can help out with it just being completely transparent is the novations, that's what it's called, where we list it in your behalf and then take care of that, all the calls, all that stuff for you.
Speaker B:And then the cash offer with that.
Speaker C:Is if you don't get the price you need, then I, I take it in the shorts.
Speaker B:Well, the thing is, you get to.
Speaker C:That's a downside.
Speaker B:Yeah, it is a downside, but you don't have to accept the offer.
Speaker B:So, for example, if we keep getting offers that like but then I'm stuck here.
Speaker C:Stuck here.
Speaker C:You guys get paid off.
Speaker C:So, I mean, I'm gonna carry you on my back and we'll say, what's kissing there?
Speaker C:Say it didn't sell and marketers total crap for two years.
Speaker B:Right?
Speaker C:I'm stuck here for two years now because you upgraded it.
Speaker B:Oh, okay.
Speaker B:Yes.
Speaker B:So the way we do the upgrades is we don't upgrade it until a buyer comes in and is like, hey, I'm going to buy it if you do this.
Speaker B:And then they put down a significant amount of money down.
Speaker B:So we're done.
Speaker B:We're legit.
Speaker B:So it's.
Speaker B:So I wouldn't work on the freedom.
Speaker C:Okay.
Speaker C:Yeah.
Speaker B:And from my experience and doing this business, whether it's in Utah, I do this all over the country, is the MLS is going to get you 99% of the time the best offer because there's cash buyers even on the market that are always looking.
Speaker B:So if we were to put this back on the market, I think we would have a better chance.
Speaker B:Obviously, you're doing it with your for sale owner, which is fine, but I would be taking care of all the calls and relaying everything to you right through that, which would get you at 428, minus your equity.
Speaker B:I mean, you're going to be walking away with over $150,000 of equity if we're able to sell it for the.
Speaker A:If you found this insightful and helpful, smash the like button so we can give you more content like this.
