Gavin and I are letting you listen to a coaching call with Gary Proctor. He’s just attended a Mastermind gathering for students who completed the Implementation Workshop a couple of months ago.
Gary started real estate investing in 2004 in a small town in western New York. He acquired 80 houses and decided he really hated being a landlord. When he sold those properties, he moved to Buffalo.
Gary is now focused on lease options. Much of the time, Gary purchases houses through wholesale deals, then sells the houses using lease options. He has a private lender providing the seed money.
What Gary wants help with is talking to sellers. He confesses that he’ll do almost anything to avoid making phone calls to sellers. But once he gets on the phone, he enjoys talking to people.
I can relate to that issue. Gavin absolutely loves being on the phone so let’s hear what he has to say. He believes that Gary wants to be liked by everyone. Gary’s a friendly guy that fears rejection.
Gavin advises Gary to agree with people if they complain about receiving too many calls or wonder how you got their text number. Empathize with them over those issues and tell them you’ll be quick.
Gavin also advises Gary to set an attainable goal. For example, call 5 sellers a day. Don’t hold yourself to calling 20.
Gavin also advises to Gary to set deadlines. Send a contract and set expectation about when you’ll call back, and set an expectation of getting a definitive yes or no answer.
You can also get sellers’ attention if you say you’ll send a notary over by noon tomorrow. It’s like truth serum… the seller has to tell you that he is or isn’t going to sign.
If you can’t help a seller get rid of a property they no longer want, you don’t have a deal and you need to move on to the next seller on the list. Don’t stay on the phone for too long with any one lead.
I remind Gary that he should stay away from the computer. His VA should be managing the CRM and initial contact. Don’t read the account of the VA’s interaction with the prospect.
Listen and Learn:
- If the seller seems to be brushing you off, stop chasing them… if you run fast, the seller will too.
- It’s helpful to act as a reluctant buyer when talking to sellers.
- “Mr./Ms. Seller, if this is not sounding good to you, let me know so I don’t waste your time.”
- The Implementation Course and the follow-up Mastermind dive deep into the business.
Mentioned in this episode:
- Joe’s podcasts on iTunes: RealEstateInvestingMasteryPodcast
- Two-day Implementation Workshop with Joe and Gavin: VirtualCaseStudy.com or CoachJoe.net
- Book recommendations:
Never Split The Difference
- Mobile notaries, nationwide service: 123 Notary or NSS Notary
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