Conversation & The Real Estate Investor
| | Saturday, April 16, 2005 @ 05:01 PM EDT
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Contributed by: John Michael
John Michael Properties
Read more archived articles about Buying
One key that makes investors is conversation or should I say "The Art Of Conversation".
All successful investors are skilled in conversation and I'm not talking about the investors that does 10, 20 or even 30 deal a year! I'm talking about the "BTO" Big Time Operator; The Big Dog's slamming down 100 or more deals every year.
This is no discredit to any that do not fall in the arena with the "Big Dog's", but if you want to play with the "Big Boy's" you must master the art of conversation!
Have you every wondered why you have not been able to get to the next level in your investing carrier it's simply in your conversation as most professionals in real estate investing rise simply from respect from others. You need to develop this skill so that you can converse with any type of homeowner in any type of situation.
How do you improve this skill?
Get a micro cassette recorder and record your negations and review to improve.
Improve your self-confidence - By expressing your views, thoughts and all conversation in a positive and non- threatening manner.
Express your self openly, direct but at all times in a positive manner!
This is the hard part, learn to listen to your customers needs! Simply talk less and listen more.
When a person speaks, assume what they are saying is what they mean.
Improve your image - By proper grooming and dress. If you want to be an investor dress and act the part and you will become the part.
Learn the art of small talk, look at your surroundings find something of interest and engage your customer into a conversation about it for a short period and move on to your purpose as a investor "To acquire real estate".
At this point, you need to keep in control of the conversation and not allow it to fall back to the "small talk" or you will loose your position and purpose of being there.
In addition, continue to look for the opportunity to close the deal.
The wise man will make more opportunities than he finds - Sir Francis Bacon
Did you know getting offers accepted is somewhere between total luck & absolute sells ability.
It seems the smarter I work - the luckier I get & It’s not the # of hours you work or how hard you work, but it’s finding great deals that puts money in your pocket.
Know Your Customer
Determine their PAIN!
High payments
Behind on note
Ugly House
Bad Tenants
Concentrate on their pain, Build your solutions around their pain, and Give them a solution to their pain & you will have a deal!
Key Points to Determine their PAIN!
In a conversational manner - Non-Foreclosure
Whose name is the house in?
Why are you selling?
Who lives in the house or is it vacant?
What is the value, how did you come up with the number?
Or
What are you asking & how did you come up with this number?
In a conversational manner - Foreclosure
How much do you owe & to whom?
How much are you behind?
If you sell your home what do you, plan to do?
If you can’t sell what do you plan to do?
If I could make this problem go away for you, what would you do?
Now get out there and make some deals!
Note: John Michael is the author of many guides that can help you become more successful as an investor. See http://www.thecreativeinvestor.com/ChanPart-JohnMichael.html
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