How to Make 'Em An Offer They Can't Refuse
| | Tuesday, March 09, 2010 @ 07:46 AM EST
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Contributed by: Jason Hanson
Jason Hanson Properties
Read more archived articles about Buying
To truly make serious cash in this business you should always make every seller an irresistible offer. This incredible offer starts with the first impression you make with a seller, which is usually your marketing piece. Is your marketing piece so unique that the seller is going to call you versus every other investor who's sent them a letter also? I know my marketing pieces are, because I don't send out a marketing piece that doesn't contain some type of FREE offer in it. This is usually a free special report, but can also be a free property consultation. Just giving people a reason to call you will certainly separate you from your competition.
The next step is when a seller calls you. Do you emphasize how easy it is to do business with your company? Do you tell sellers you will give them a firm written offer within 24 hours or less? And most importantly, when you tell them you will get back to them within 24 hours do you? Surprisingly, most people will not follow through and of course a seller automatically loses trust in you, if you don't get back to them in 24 hours as promised. (Remember, people won't work with you if they don't trust you.)
Also, if you have a virtual assistant like I do, I would highly recommend "mystery shopping" your assistant. Since your assistant represents your company, you don't want to lose deals because your assistant is rude or unfriendly. For example, right now I have my assistant Lisa who has been working for me for years. But before that I had an assistant who I had to fire. I mystery shopped her often and she had terrible customer service skills. I can only imagine how much money this woman cost me.
Anyway, if your offer to the seller gets accepted, then you obviously set up a visit to meet the seller at the property. This is your next chance to "make 'em an offer they can't refuse." You show up with some type of “kit” which contains coupons, testimonials, and other documents which prove why you're head and shoulders above the competition (I use what I like to call the Ultimate Deal Closing Kit).
But let's say you've done all of the above and you're sitting at the sellers kitchen table and they are still not 100% ready to close the deal with you. That's when you pile on the little extras: This can include offering to rent a moving truck for the family, offering to pay the first month's rent on their new apartment, or offering to send them on a free cruise.
As long as the deal has enough profit in it, be creative and think of ways to sweeten your offer so people will be more likely to sell their house to you. And don't be greedy. I make about $30,000 per lease option deal and if it takes me sending my sellers on a $3,000 cruise to close the deal, I will be more than happy to do that. I'd much rather make $27,000 when all is said and done, then $0 by not making them a unique offer, what about you?
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