Chris Prefontaine teaches a three-question formula for seller calls: where are they going, by when, and what happens if they miss that deadline. He also covers planting doubt about buyer qualification and asking about owner financing early to uncover what sellers actually need.
Chapters
You gotta plant that seed. So if you don't get full price at the time you want, what date should we kind of revisit this? You'll get to that.
When we talk about being, you know, hanging around the people, the association, when we talk about the different levels, we had I6, and this is one thing that really stood out to me, the I6 community. We had a high 6 mastermind, and occasionally we do hot seats where you can bring up any topic that's troubling you. And one of our associates, one of our high 6, was going through a divorce, and he really bared his soul. I mean, he was in tears.
Oh.
And the community all came together and helped him through it.
and gave them ideas on how to deal with it.
But that's, you become vulnerable in a community like that. You can see the associates, how close they are talking with each other, the ones that went through deal structures yesterday. So yeah, it's different. It is.
Again, if it was just about doing deals, you guys wouldn't need the whole community. You figure out how to do a deal, go do it.
Yeah.
Okay, couple things. Just admin. I got some note here. First of all, this was in your manual and never explained it. All it is is my way that when I go to a seminar, you see A and I all of your note pages. A is when I'll be sitting in a seminar or a group like this, I'll go, okay, that's an action item. I'm gonna like act on that tonight or next week. And the I is when I get an idea. So although it's the last day and I told you a little late, this manual. It's a cool thing to do when you go to any event because your brain goes. It could be nothing anyone's talking about and you go, I get that idea, and you write that down. So action and ideas. I'm going to go out of order with some of this. Did anyone grab the seller calls? Did anyone get that course and start? Okay. I'm just talking about action. That guy would do that. I'd make that one of your items, guys.
Yeah.
You heard us say it like 50 times. We're going to critique a call today. I don't know if it's good, bad.
Probably it's good.
It's Jeff's. But, but he said, I don't know, it doesn't sound like he's motivated. But he wrote, myself, critique it in the group. We'll do it live. Is everybody like, are you super clear and can spit out the 3-question formula? Because this is about as basic as it gets. I just want to make sure we didn't like lose anyone on that relative to talking to sellers. Everybody clear on that? Need to sell, buy? Why are you selling? Where, by when, and what if it doesn't go that way?
Yeah.
Where, by when, what if that doesn't happen? Because if you guys screw up everything else in a phone, but in your head you're getting to that, not necessarily boom, boom, boom, but you're getting to that, you're going to have the motivation and you're going to know what you're fixing. If you don't know what you're fixing, then you're going to go to their whims.
So what is this basic? When are you selling it?
Where are you going?
And where are you going?
Why?
Where?
By when? What if that doesn't work? So again, remember the conversation with your neighbor? Walter's site, you see a sign go up. Hey, where are you going?
Right?
You just— it's just a friendly conversation. This is not difficult. When do you need to be there by? And what if that doesn't work? What's your plan B? Or what are you doing if that doesn't work? You lower your price? What are you going to do? Right?
You just talk. Yep.
If you guys approach— I thought of a few things about this because it's a few we talked about and we talked about selling like that and a couple of you guys did. If you approach all your calls with, how can I help? Like, so you sit down, you get distracted by the script. You just go at your morning with, I'm just looking for people I can help. Like, some I can't, but I'm looking for people I can help. You'll truly listen to them and you'll truly ask them questions to find out if you can help, right? So did you have a few minutes? I want to ask you a few questions. They say yes. You didn't ask the right questions.
You're supposed to.
You're trying to buy an asset, right? Okay, I just want to make sure we're clear on that so we don't lose it when we talk about metrics today.
Well, quickly, you said the last one is, if not, how did it go?
By when and what if that doesn't happen?
Oh, and if that doesn't happen?
Because everyone says, yeah, everyone says, no, no, I'm good. I'm, you know, okay, I get it. That's your plan. But is there a date at which time if it doesn't happen, we should be talking? Or you're just going to lower your price and take less? They'll answer you. No, no, I'm not going to lower my price. Oh, okay. So when should we be talking then? Is there a date here we should know about? Because then that tells you when to follow up. And that great question of when to follow up doesn't have to be answered. You know, you ask them. Yeah.
I was sharing with somebody, you mentioned a very kind of concise question that was— that lets you know which way that they would be, or if they would be willing to do terms. And I can't remember where I heard it, whether it was on any of the videos in QLS or—
You got to see if they would do terms?
Right.
Well, there's 2 ways. The main question we're going to look for, I hope Jeff does it right with his coffee.
Okay.
Right at the beginning, I get to it right away. I'm just more blunt. Is, Donald, I haven't seen you. I haven't seen your house yet. But if in theory or hypothetically I could get you to your number, are you open to doing that on owner financing or lease purchase? That's one of the main questions.
Okay.
And then it gets deeper when they say, because all of them do, no, I need cash, I want cash. And then you go to the, what if it doesn't happen?
Right? Okay.
And then you usually have to plant the fear seed, I call it, because they don't know that 80% of their buyers can't get qualified. You got to tell them. Not sure where to get started? Go to smartrealestatecoach.com/getgoing 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. You got to plant that seed. So if you don't get full price in the time you want, what date should we kind of revisit this? Right? You get to— you'll get to that. I don't know if that's what you heard, but those are—
I think that might have been it.
Yeah, I've heard something along the lines of like, either I can help you with the price or I can help— or price or terms kind of thing, that whole one or the other. You do that, but work on whatever doesn't happen in your head with them, okay? Because you ain't gonna get the true answer. You'll answer my calls, they'll go, yeah, but I'm gonna sell it. I know, but hypothetically, if you don't, right? They all want it, and you could chuckle and say, "I do." I say it. I kind of say it in a funny way with them. I say, "Yeah, I get everybody wants full price tomorrow cash, but if it doesn't happen, you just keep re asking it a different way." Okay.
