Techniques for Closing Real Estate Deals

All right, so if we're gonna get deals done, it's important that we know how to talk to sellers, right? So I could have easily turned this into a simple Q&A, but what I thought was, wait a minute, we're not gonna get these types of deals that you've seen on the deal structure and get you to just harvest deals regularly until you get super confident in skill sets set up to talk to sellers and talk to them with excitement and talk to them with energy and talk to them with confidence. Because a lot of times it's what you say, not how— sorry, it's how you say what you say, not what you say. So what I wanted to do is take a glimpse of this, one of many High 6 calls that Brian O'Neill and I coach. We together coach our High 6 level. And this is a live call. Like, this is just a weekly High 6 call with one of our highest level associates that we have. And hear what questions came out real life and how we handled some script questions and how we deal with, or we suggest they deal with tough sales. Enjoy this Deal Structure Sunday, a little different for you.

I have a question.

Yeah.

Okay. So the house is worth $365,000. He owes $345,000. Someone offered him $30,000 to walk away, but he didn't want to do it. Someone else offered $30,000 to walk away, but he didn't want to do it because the loan would have to stay in place. And so I just kind of took the information. I said, yeah, what we do is kind of similar to that. I just said, you know, let me, let me kind of think about it and get back to you. So I wasn't sure. I mean, he's— I think you're going to say he's just not desperate enough or something.

But is what everybody— I want everybody to participate in this one. This isn't just me. My question is, why is he selling? Like, back to the basics. Why is he selling? Where is he going? By when?

I don't have that right here in front of me.

I do. I just critiqued that call. That was the guy, the same guy. Yeah, I gave you my critiques. That's the guy who is trying to move closer to his job and he's having a baby with somebody else.

Yeah, yeah, yeah, yeah, yeah, yeah. That's it.

Can't make this up.

He— I can't. He's not motivated enough. I can't hear it. So you got to find— you got to dig deeper. I critiqued that call.

Okay.

I didn't know that that was the guy who said— now hold on a second. Is that— does he owe that much? Because I didn't hear the price. Or did you get that?

Well, right. He owes $345,000. Comps roughly, I'm saying $365,000. So there's a little equity there.

Yeah, because he said his house was— he said beginning of the call, my house is overpriced. That's why I took it off the market.

Right.

And, and we don't know why in that call, Brian, he's selling at all. Like there's no motivation.

Oh, well, the motivation is he wants to be next to his— he wants to live closer to his job and his Uh, girlfriend who's having a baby, uh, wants to be—

It's his baby though, right?

To clarify.

His baby. Yeah, yeah, yeah. Just to be clear. Yeah.

Thank you.

Uh, sure. All right, Brian, is there anything else to discuss then? I mean, I—

it's—

Yeah, the, the— I— Paul, what I told you in, in the critique was put his information in My Freedom Soft and I will call him.

Got it.

Okay.

There's— he, he had some concerns about the loan being in place and staying in his name. And again, I gave you the critiques, but you have to understand what he's, you know, is he going to stay in the house? Like, what if you don't sell it? What are you going to do?

Where are you?

What's your backup? That's, that's what you didn't ask him. And that is going to tell you whether or not he's— what means more to him, being close to his job.

Okay.

And maybe mama child, or having the debt in his name, because he can't have both from you.

Okay, guys, Brian, I feel like we gotta hammer this, this where you going by when still then, uh, where you going by when, and what if it doesn't? Like, I critiqued a bunch of calls this morning, um, one with Sean's, and Sean's isn't like super confident, awesome on the phone, but he didn't ask that That basic question. Just think through logically, guys. Remember, if there's any question, let's bat this around again, the script, because first thing I said and first thing Brian said was the same. Where's he going? What?

By when?

And what if it doesn't happen? So you know where he's going, where he wants to go, but what if he doesn't sell, right? Brian, what was your key point?

Always.

Like, it tells you everything. Well, if it doesn't happen, I'll stay here. She'll move in with me. Okay, no motivation. If it doesn't happen, I'm just gonna rent it. Okay, now I got something to talk about.

Okay. I, yeah, I, I tend to kind of assume— I mean, I, I think I, I inferred that, um, but I didn't make him verbalize it.

So good.

So if you guys forget that while you're talking, uh, I do this with anything new I'm trying to learn. Put it wherever you're calling. I use Dialpad now, so it's on my computer, but wherever you're calling, put those 3 questions in front of you. You can't get off the phone without those. If they blab, you got to bring them back to it. I don't know if anyone heard my AO call speaking of blab, but you just gotta like either end it or bring them back to where you want to be. Does this make sense?

Yeah. Where, when, what?

Why, why, when, where.

Oh, why?

Yeah, why? Hey, remember Brian told you guys this before about talking to your neighbor? Hey, why are you selling?

Curious.

Oh, cool. Where are you going?

All right.

What if it doesn't sell? What are you going to do? These are just questions you'd ask your friend instead of trying to educate.

I critiqued that this morning, Paul.

So, okay.

Gotcha. Well, first of all, I should have said this first. Great job sending the call in, right? I mean, that's the first great job when we're batting it about, but you did it. You sent it in.

Good job.

Okay.

I just wanted to make a comment on that. So I feel like, um, that sometimes I need to— because I— because it's— these questions are questions you'd ask your friends. I feel like you have to get to the point where you're having a friendly conversation more than— I feel like you have to get past the, you know, uh, the, the fact that you're interested in the house or whatever. Like, it, it has to be a friendly conversation to get there. And that's why sometimes I struggle a little bit getting there, especially if they're a little, uh, like standoffish. Um, you know, if it's a, if it's a flowing conversation, I feel like it's an— it's easier to ask these questions. Um, but sometimes when they're very standoffish, yeah, you know, like they're not looking to get to that friendly place, sometimes they're hesitant to give you that information. I don't know if everybody feels that way, or is that just me?

No, absolutely.

Comments, Mr. Bryan?

I don't feel that way ever. So, and I can see why you would feel that way. Now, there's a point in the conversation where you just have to draw the line with the seller, right? And just either end the call or just, or depending on where the call's going, it doesn't sound like you want to sell. It does. I may not be your buyer. This may not work for you. Like you don't have to solve it all on call number one. When you're— I critiqued a call for Wendy earlier, and I basically just, I just told her, I said, you just got to tell the seller exactly what it is that you can do for her. Like, this is how I can help you. You don't have to accept it. But this is how I can solve your problem. This lady's moving overseas 5 years in for 5 years at the end of July. And, and Wendy asked her, hey, what are you going to do if it doesn't sell? She's like, I don't even want to think about that. I said, that's in a, that's in a month. She's got to go. She's going to do it to hell. This is you. Sometimes you just got to be direct with sellers and then they'll tell you whether or not they need you versus why would you spend 10 to 15 minutes trying to make friends with somebody, which is almost impossible to do, by the way. They're not going to like you that quickly.

I was just thinking that, Brian. That, Morris, your goal is not to make friends with them.

No, I'm not saying— I'm not saying a 10-15 minute conversation to get friendly. I'm talking about just— there has to be like in the first 2 minutes, okay, you almost feel like—

no, maybe I'm gonna be off of this, Morris, because I've heard so many calls, and I should hear more, by the way. Brian, I should hear more of your calls because we could help you a little faster, right? And that's, that's a given, especially because you're in insurance.

Um, I—

from your calls, I know what you're saying. These guys don't have the, uh, the advantage of hearing your calls, right? But you— a lot of the— a lot of your people can be blunt, and which I love. But so you feel like you got to soften that to get to that point? You're going to take— like, it's you, you're in control. So you gotta— you gotta just cut to the chase. So like Brian was saying, like, well, listen, let me ask you, like, do you want to sell or not? Like, you have to be— you have to mirror match them. That's my opinion. I've heard a lot of your calls. You get it. You can't take like, oh, okay, and take the passive route. You got to take the— is this making sense?

Yes.

But get us more calls so we can do that. And then so I don't forget, when Brian calls Paul's back, Paul's back, we could post that and everybody can hear from this group.

Yeah, I understand what you're saying, Morris, because I mean, Brian, you're a machine. I mean, you're just awesome. One day, I hope to be like you. But, you know, like, I just listened to a call from my VA, and the guy answered, I don't wanna have anything to do with you anymore. You did not come up and visit me when you said you were. And this guy was an absolutely jerk. He managed very well. But sometimes you have these people that are so frustrated because they get so many calls from investors. And so, they start standoffish. And I, just like Moores, I understand to get through that, And, and stay leveled and, and ask those questions. Um, it is kind of tough, and I, I do struggle with that too, even though I feel I am getting better. But just kind of want to interject that.

Uh, on the guy, the person that got aggressive, um, without hearing the call, if someone's extremely off-putting, I just call them in 30 days like I never talked to them because they probably had a bad moment. And their husband burnt their toast and you just happen to call. Like, I literally act like I didn't call 30 days later. I also think this, so everybody knows, if someone's that, uh, like aggressive or rude, if they are, know this: every other investor is not calling them again. They're afraid to. That's my opinion. I, I like when I hear that. I go, great, in 30 or 45 days I'm calling like nothing happened. Nobody else is calling.

Yeah, he actually softened up a little bit, uh, at the call. I mean, I think our VA did a reasonably okay job on that. Uh, John actually called him yesterday and it was like a 2-minute call and it was like, no, I'm not interested in that at all. Um, so we'll just follow up. We'll just, you know, nurture and see if he doesn't sell, then we're just gonna follow up again.

Um, comments, others who are on the phone?

I was, I was kind of along the same lines. I was a little off-put by, by the people who are really giving you a hard time, but they're, they're just frustrated because they've had too many people to talk to. They've heard the same questions and all that kind of stuff. So basically, I, I love what you just said. It's— you're, you're right. Nobody else is— nobody else is gonna wanna call 'em again. But We will.

Brian, you got something on the tip of your tongue. It looks like I usually know when you do.

Yep, I do.

Go ahead.

A couple things, Carola. I'm only this way because I've got the reps in right. And by the way, this is how I live my life. Like I'm direct with everybody. Okay, it's not just sellers. This is how I live. There's a script for everything. All right. So if we were talking about this, I did a starter call last night for Steve and the same topic came up about how, you know, sellers are— you're like the umpteenth person that's called me regarding that. And you just turn on a— think of how you could turn it into a positive. When sellers say it to me, I say, yeah, it's not going to stop. Like realtors are calling me, like they're going to continue to call you. They want to list your house. Like you should get used to it. Like as a FSBO, like FSBOs are saying that. You're like the 15th, you're like the 20th person. I said, yeah, this is— if it's terms, you're like the 19th person that's called me. Yeah, it's not going to stop. It's very popular right now because people can't qualify for loans. 17% of people can qualify for loans. I can help you right now make that stop. You got 5 minutes to talk. And then go into it. So just turn it into a positive. No one else is saying that to them. All the other investors are just trying to lowball them wholesale deals. Hey, look, you just tell them this is not going to stop because of this, because of the interest.

I like the other piece you said. I can get that to stop if you want to talk about it. Yeah, guys, they're not getting a million calls from people like you. Trust me, they're not.

Now, if it's 2, it's too many.

Yep.

So you got to educate them. Mr. Rick, any comments? Oh, Pete, sorry, go ahead.

I'm just thinking, well, what did they expect if they're going to post their property online and they want to sell? Then what did they expect? I mean, really, I, I have no trouble letting them know that, you know, you're going to get calls, you're going to get calls. So just, I think they may get agitated, but you know, that's on them really. That's their Problem.

Brian's comment and your comment could be turned into a question combined. Are you looking to sell or not? And get it to stop.

Yeah, I leverage the, uh, the accreditation. If they say— I've gotten a lot of calls, so I'll say how many of them are accredited because we're one of the few that are.

That's a stopper too, as much as Brian's is, because they don't even know what you're talking about. Yep, you guys get that? That's huge. And not many of us in the community use it.

How did you say it?

Go ahead, Rick.

I just asked them, you know, I understand a lot of people are calling, but are they accredited? Because not many people are, and we happen to be one of the few that are.

Okay.

I've heard that many of Rick's calls, guys. I know I've said this before, but it works. It's worked for him. Why not use it? It's like the form letter thing that Brian and I discovered hardly anyone's using. The, the Cephria should be used. It's not being used. Anything else on this scripting? We went down this road. This is important to get you guys more comfortable on the phone. By the way, on this note, this is exactly appropriate. So let me say this and we can pivot if you want after this, and if you don't have any questions. I was on a show yesterday. The guy's been in business for a long, long time in Phoenix. He's got a coaching business too. But he— we started talking about confidence on the phone and he said, 100%. He actually has a Corolla. You always second-guess yourself with the accent. We always say to you, you're great. This guy has a very, very thick, thick, thick accent. And he says, I'll tell you what it is, Chris. It's like when Mark Zuckerberg in his early 20s— get this for a comparison— walked into a room and he's looking to raise $1 billion. It wasn't his script. It was his confidence to get that done. Can you imagine that? When he said it to me, I even went, well, that's kind of a cool comparison. He said, it's all how they say it, not what they say. How many times have we said that on these calls? So when someone's being belligerent to you, you take the Pete or you take the Brian stance and you just stop it right in its tracks. You don't back off. They don't— they're almost not asking for— they're asking for the opposite. So I thought that was a great comparison he gave. I can probably turn that into more ratio money at some point, but he just told me that last night. I thought it was cool. That makes sense to you guys? Like, it's the confidence, not how, it's what— uh, sorry, it's not what, it's how.

Cool.

This resonating?

Yeah.

You're absolutely right.

Yes.

How you come across, and, and that is not always easy.

Okay, so question for all you guys. Let's do a gut check here. Uh, when is the last time— I don't care what stage you're at— when's the last time you ran through at least 10 seller calls on the seller call program that you have for free? When's the last time you did it?

Uh, 2 weeks ago.

Okay, who else? I'm just curious.

I guess that was about a month ago.

You have time now.

Yes, I do.

Longer than I would like to say.

Morris?

Uh, probably 2 months ago.

Okay, you see where I'm going with this, guys? John?

Yeah, no, I, I'm sorry. I'm sorry to say I haven't. Haven't done it.

So I remember like it was yesterday, Brian's first month, calling me on a run. I think it was on a run, Brian, or driving, either one, saying he just had them on his headset or whatever, his AirPods, listened to the calls ad nauseam.

Can I, can I amend my statement?

Happy?

Um, I just want to say that although I haven't done the seller calls in QLS, I do go to the, uh, the scripts and dialogue They're newer.

Yeah, they're newer.

I do listen to those, which are very helpful.

That's a good point for John and others that are saying they should do more, because those are very current, right?

I know, I was listening to those. I, I listened to everything on Slack, so good.

Yep, good. The more the better, guys, until you go, I can't wait till that person does that that I just heard on that call, because I listened to that call 17 and a half times and I know what's going to come out of Chris or Brian, whoever's mouth next. That's on that call. That's the point you want to get to, like a great song. You know when you know what they're going to say next. You just it's in your brain. This is what I want you to get to the seller calls.

I and I will say also that I do share that with my VA and my partner.

Smart with the VA. Super smart. That's another point, Brian. Your VAs listen to the seller calls. I'm assuming already. Like a bunch of times, just to call— you call our VAs.

Yeah, yeah, they have. MJ's got— has listened to all of them. She listens to my calls, she listens to hers.

If your VAs aren't at least doing what Pete says he's doing on the channel, it's that— it's right there, then you, you're definitely missing a training moment.

Yeah, Angela listens to— she's gone through all the seller calls and she'll listen to, um, Oh, she's done the QLS also.

Great.

And she has the Slack messages.

How do you give your VA access? You just, you just give them your login?

Yeah.

Okay. Yep.

We had a meeting with our VA yesterday and that we critique another call, went over some things that we like different, and, uh, we directed him to the seller calls and, um, Asked him to, to listen to those. So we went over the script again. So we had a really nice productive meeting with him.

Making some good— speaking of flow, Carolee, seems like you're making some good progress. I like it.