Hey, gang this is Mike with My Real Estate DOJO. Today’s lesson is a very crucial lesson and I am going to show you the very basic outline of how to give an offer to a motivated seller. Alright, so let’s dive in! The first thing you want to do is ask the seller questionnaire form. So if the seller is calling you from one of your advertisement pieces or if you are making co-calls or if you are knocking on the door, what you want to do is ask the seller the seller questionnaire form. Engage their motivation level.
On my seller questionnaire form at the DOJO phone script I have all these questions that help you engage the seller’s motivational level. So step number 1 is you want to fill out the seller questionnaire form 100%, so you understand the motive of the seller, what is their motivation level, what is the reason they want to sell the property, how soon they want to sell etc. Step number 2 is now you want to provide the seller with what I call a soft offer. In your soft offer you want to do what I call the super hero closing.
Now if you don’t know what the superhero closing is, please watch my YouTube video. I have a video about how to give an offer, how to give this superhero offer to get 9/10 deals, if you are using the real estate investor briefcase or using the realtor briefcase. But let’s stick to the script right now. Step number 2 is you want to give the seller the superhero soft offer and the way the soft offer or the superhero works is that you are going to provide the seller with all their options under the moons and the stars therefore they have every option any professional, like a realtor or a bank attorney etc, will tell them. All their options of traditional selling through to cash offer etc. Why you are giving these offers to the seller if the seller is going to tell you “No, I don’t want this. This option works good, this option works great”, so in a nutshell, the seller is going to tell you which one of these offers he or she leans to. Once you give them the second offer, step number 3 is to see if you are able to create a win-win situation for yourself.
Since you have two briefcases: the realtor briefcase and investor briefcase and the seller happens to choose one of the investor briefcases: “I am willing to do a cash offer or I am willing to do a term”, then what you want to do at that time is step number 3. To go ahead and set an appointment with the seller and go look at the property. If you want to me to mentor you, to set up a phone script to help you structure the deals very quick and get you that deal before you go out there and meet that seller. Let’s repeat this: three simple steps that I am talking about. Number 1 you want to ask the seller the seller questionnaire form, number 2- you want to give the seller the superhero closing, number 3 – if the seller leans against one of the options that you provide in the investor briefcase, then you want to set up a time to go meet the seller and put the deal on the contract. Now two points: if the seller wants to go with the realtor briefcase options, for example, listing, or they want to write their house out or they want to do flat via MLS whatever, if they want to go with that option, what you are going to do is step number 2. You are going to let the seller know: “Hey, Mr. Seller it sounds like you want to rank the property out or let me go ahead and refer you to my home procure.
They do property management and will happily give you a call”. Or “Hey Mr. Seller, we spoke and you told me the flat VMLS is a great idea for you let me get you with realtor and have him or her give you a call”. In step number 2 when you give the offer to the seller, the answers that they give you back, which one they lean against, whether they want to flag, want to do cash offer whatever. Whatever they lean against, then you have to do the determination and then do the recommendation.
Hey you told me about the flat fee, here are the people I am going to get them to give you a call back. Now there are situations where the seller will tell you: “Well, I am thinking about renting it out and I am also thinking about going with the cash offer”. Now the seller is talking about two different briefcases. You can hear me say the realtor briefcase, the investor briefcase-some of you haven’t watched that video. Go ahead and watch the video on how to close 9/10 deals using the realtor and the investor briefcase, because they both have different tools in them that you are able to use to solve the sellers problem.
Like I’ve been preaching since day one- you are there to solve the seller’s problem. You are trying to create a win-win situation. You’re not just trying to make money. The more you put that positive vibe out there, the more deals you are going to get. It’s as simple as that guys. So be a problem solver instead of just chasing the money. All fools are chasing money. Now let’s come back to the script. At stage number 2 once you tell the seller the superhero closing he is going to tell you which offer he wants to go with and if it happens to be the realtor’s briefcase option only you want to help them match those options with what you have in the realtors briefcase, refer them to your realtor so you create a win-win situation. Why would you want to use the realtor’s briefcase if you are not going to make a lot of money.
You will make little money, but it’s not about the money, it’s about helping the seller and creating win-win situations. If you refer out to let’s say your realtor and he or she makes some money, he/she may give you some money, he/she may do some services for you, because they remember how you scratched their back. How to help the seller, because you didn’t make any money out of that deal? Well maybe the seller is going to be happy, he will remember that you Mike, Mr. Investor, set up the situation for him and down the line Bobby, his friend, wants to sell and he will tell him: “Call, Mike, he is the one, who solved my problem”.
You are basically planting a lot of seeds and if you do the right thing, they are eventually going to pop up. It’s not going to be quick, it may not be tomorrow, but, hey, I don’t believe in that quick-fast shit anyways. We’re planting seeds and anyways we are solving the customer’s problems. All right, its very crucial and I keep repeating this-seller calls, number 1. Number 2, you give the superhero closing depending on what the seller says. You are going to give them the realtor briefcase options or the seller wants to go only with the investor briefcase, you’re next step is to get an appointment, roll up your sleeves and go out there and set them with a deep discount cash offer that you want to take out there and get a contract. Or you set them to a term offer, like owner financing, ‘subject to’ or a wrap etc and then you know it’s time to got and meet them properly. So this is basically the zoom out of what are the processes of giving an offer, because obviously what I see a lot of times, they talk to a seller, step number 1, and step number 2 they are already going out there to meet the seller. A lot of these sellers are not motivated, so they are wasting time. What I like to do is step number 1 to talk to the seller, and step number 2, over the phone, you are not driving over there, not running out there, you are just talking to them with a soft offer with a superhero closing. Now there are two parts- the soft offer, I have a video about what a soft offer is and the superhero closing, on which I also have a video. Make sure you watch those two videos, so that you know what I am saying, when I say soft offer or superhero.
A lot of students that are new, that I meet- the seller calls and they take the sellers information and run out there, ripping out the page, driving all the way up there, trying to look at the house, which wastes a lot of time and energy sources. They may not even be motivated. Even if they are motivated, they may not want to do business with you.
That’s I do the soft offer, because the soft offer allows me to see if the seller is motivated and go with the deep cash offer. If they are willing to do with a term offer, they do some ‘subject to’ type of deal, which the right way to do it is get the sellers information, give them the superhero closing and give them a soft offer. If the sellers leans to one of your briefcases, for example the realtor, then you’ve got to outsource that out. If they want an investor, then you’ve got to go out there and you’re next step is to go look the property.
That way you are saving yourself a lot of time as you are filtering out the dirt from the good nuggets, which is the way you want to do business with motivated sellers. If you like these videos, please share, please like, please comment.
This is Mike with My Real Estate DOJO, go out there and hustles and bustle, don’t take ‘no’ for an answer. Talk to you soon, gang! Have a great day!