Tue, Feb 09, 2010
|
What to Do When You Lose a Deal
| | Monday, November 03, 2008 @ 09:27 AM EST
|  Printer Friendly Page
 Send this Story to a Friend |
Contributed by: Jason Hanson
Jason Hanson Properties
Read more archived articles about Buying
You’re sitting at the kitchen table with the seller and everything is going great. You have been on your “A” game, the seller seems very motivated, and he says that he is ready to sign the paperwork. You pull out the paperwork and start filling in all of the blanks. Inside you are screaming for joy, because you’re about to get a great subject-to deal and this puppy will cash flow $700.00 a month. You’re explaining all of the paperwork to the seller and he is nodding his head in approval as you show him document after document.
You’re finished explaining everything and you hand the seller the pen and tell him that you need his autograph and he will never have to worry about the property again. He picks up the pen but doesn’t sign. He just stares. It seems like time is standing still, but you don’t say a word. Finally, after the longest 60 seconds of your life, the seller says he is not ready to sign and has changed his mind.
You’re astonished and you ask the seller why he has changed his mind? He tells you that he is not sure he wants you to take over his payments and he brings up objection after objection. You handle these objections with ease because you’re a pro and know your scripts. You do everything you are supposed to do, but it is clear that the sale is not there and you’re not going to change the sellers mind. So you get up from the kitchen table, thank the seller for his time and tell him to call you if he changes his mind (you of course follow up with this guy every 30 days).
When you get home you are upset and royally ticked off. Unfortunately, this happens and is the nature of the business. As good as you get, you will never close every deal. When you lose a deal, you need to quickly remind yourself that this is a business and you need to detach your emotions. I have seen many investors stew in anger for weeks over deals they lost. All they talk about is “the one that got away”. Let go of it. What is done is done. Forget the past and move on to your next deal.
Losing a deal is just like losing a girl/guy (or falling off a horse). Get back up and get over the person you lost, by going out there and getting more deals. You will never get every guy, or every girl or every house.
Word Cloud:
ready royally don’t follow unfortunately, paperwork approval close table there horse). again. doesn’t next supposed change deal astonished never sign explaining remind puppy course table, property handle great. mind. stew anger tell will house. happens these inside longest filling lost, ticked quickly pull clear picks hand they person objection. brings lost. worry what have sign. know after />
when mind? need finished still, payments weeks blanks. “the />
losing paperwork. everything many like start move deal. home document. past sure investors flow changed call cash stares. about forget game, away”. very upset guy, scripts. word. screaming deals with kitchen emotions. thank tells time $700.00 get, subject-to sitting deal, just business. you’re changes lose says wants (you nature />
you’re girl because standing getting motivated, seller show done. talk detach objection business this when more nodding head every sellers going great objections seen good joy, been over month. take document back finally, seems seconds girl/guy life, yourself autograph deals. losing off. mind ease falling days). done sale
|
|
| |
|
|
|
|
Logged In members can moderate all comments.
|
|
