In this coaching session, Chris Prefontaine reviews a role‑play with Jeremiah (and occasional input from Deb and Speaker C) that highlights common rookie errors when speaking with property sellers. The main focus is on how agents phrase down‑payment discussions and avoid negotiating against themselves. Jeremiah’s initial script—stating a hard 5% down‑payment limit—reveals a mistake: it gives the seller a reference point and can lock the agent into an unfavorable position. Chris advises reframing the question to keep the down‑payment amount open, using language that taps the seller’s ego (e.g., “we usually work with sellers who don’t need a large down payment”) and then probing for the seller’s absolute minimum. The conversation also covers how to handle sellers who demand a down payment for “skin in the game” or to cover potential damages, suggesting confidence statements backed by the team’s A+ certification from the Creative Financing Real Estate Association. Throughout, Chris emphasizes the importance of credibility, confidence, and the ability to revisit terms later, reinforcing that nothing is final until a sale closes. The session ends with a brief promotional plug for Smart Real Estate Coach resources.
Chapters
So before I go to my team, you're saying if I don't do 5, that's the absolute low she can go? And you see if you get another answer out of her. So that's all. They just— again, those, those times, so good.
It's different scenarios, but it specifically is down payment. And I really need to work on my script when they say they need or they want something down. But I think that's just, that's just one of the elements where I really need to sharpen, get better at.
Let's share that because Deb had one that I said, Deb, share that in the lessons learned. And Deb, if you can remember what it was, we'll talk about it in a second. I forget what it was, but it was a lesson learned. And on yours, Jeremiah, this morning. So just context for these guys. One of them was the gentleman said, rehash it, rehash it, and I'll tell them the tweet.
Okay. So I'm talking to this guy about a mountain house he's got. It's been an investment property. Long story short, he's wanting to move back with his wife. They were separated for a while and now wife wants to dump that, get rid of that property. So he's like, and he's like, oh, go, go out. Like, let's, what's your offer? And, you know, they just try to, he's prompting for it. What's your offer? Oh, I gotta go see it. Oh, do you need to see it before you offer? Okay. Like, why don't you go see it? And I was like, well, It's like an hour drive, right? Like, I just want to make sure we're on the same page. Like, are you even open to owner finance? So this person's like, well, like, how much are you going to pay? Like, what would it look like? So he's asking these questions and I'm just trying to get to the brass tacks. And he's like, well, can you do anything down? Like, I mean, he's negotiable, he's agreeable, but I'm like, look, like the absolute max we could possibly do is 5% down. Like, I definitely can't go above that. And that's the script right there. I should not say that.
Yeah. So the So there was that. But before that, it was the script is we usually buy from sellers who don't need a small down. They prefer to maximize their, their thing versus Jeremiah said don't want a large. There's a big difference with that one word, right? Need plays on their ego and a lot of them will go, no, no, I don't need it. Okay, great. And now we're back to price. Then it was he— I said, when you offered that guy 5% before asking him the question, you negotiated against you. Right. So the question should have been when he said how much down, when Jeremiah said, well, max 5, he should have said, well, I don't know yet. Again, I got to see it. But if we were to get you to a price that you liked or something like that, what would be the absolute minimum? And then they give you an answer and you go, all right, so before I go to my team, you're saying if I don't do 5, that's the absolute lowest you can go. And you see if you get another answer out of them. So that's all. They just, again, those, those times. So good.
Because like, like what you said, because, because then you're getting him to come to an answer and then you're giving some hesitation, right? Weaving in the hesitation, already sowing the seeds. Like, I wonder if, like, are you sure that's the lowest you can do? Because that might be tough for my team, but I'll see what they can do. And then I'm not locked in. I, because I've set 5% already and now he's probably going to want that.
You already negotiated against you.
Yep.
Yeah. And it's not bad because we can do an AO, even a regular deal. Like, you guys only have a tiny split, so you could do it. I'm just saying, why give it up?
Yeah.
And then when you listen to the calls with Deb, especially towards the tail end of the session, it doesn't matter. Who cares if you said 5? You can always go back. Oh yeah, my team totally dissed me on that. So it's okay. Nothing's in stone until they sell. If they sell. Not sure where to get started? Go to smartrealestatecoach.com/ Get Going for free books, strategy calls, and a whole bunch more. We're going to help you get going the wicked smart way. We've been after this for over a decade doing exactly that.
One more thing on that, Chris. I think sometimes they're asking for the down payment because they're either— they want skin in the game or they want money in case there's damages. Like they're thinking about this more as, as, as if they're basically renting. Yeah, they want, they want some money to like feel comfortable. So maybe that's the next thing they could say, you know, like how would we respond to that?
I guess if you kind of know or they even say that.
Yeah, they say, well, I need something down here. I'm going to give you my house for with no money. Like what happens if it gets damaged or you guys just split town?
Like, you know, you got to go back to credibility. That's your only lien.
Yeah.
Listen, we're contractually obligated. Because of that— sorry, we have an A+. We're certified by the Creative Financing Real Estate Association. Because of that, we don't have those issues. But here's what you say. If you've got to get comfortable with that, you've got to toss it back to them. You've got to be comfortable with that, Mr. Seller. I can say that till I'm blue in the face. And if this is something that would keep you up at night, this wouldn't be for you. But we do what we're going to do. That's a confidence statement.
Okay.
Now, how many times have I heard myself say that? Not many. Maybe Seriously, half a dozen times in a decade? Like, because someone's not hearing confidence for some reason in you, or they're insecure, and that doesn't happen that much.
