“If You’re Not Doing THIS, You’re Not Making Money,”
by Tony Pearl
I was just a new, wanna-be real estate investor the first time I heard the expression that would change everything for me.
It was at a real estate education event (aka a “Bootcamp”) in Florida many years ago, when the teacher uttered those prophetic words that still ring in my head to this very day…
“If You Ain’t Making Enough OFFERS, You Ain’t Making Any MONEY!”
At first, I was taken aback. What did he mean, “make enough offers?”
I also distinctly remember wondering: “What exactly IS an offer, and HOW do you make one?” God, I was SO new, and obviously didn’t have a clue!
I remember thinking that an offer was basically a contract, which you wrote up when you went out to the seller’s house, sat down with them, and negotiated a contract together…which is what I started doing as soon as I could. That led to me buying many, many houses, and doing a lot of deals. But there was always something bothering me in the back of my mind…
One day, I realized something important while I was working HARD going out to these sellers’ houses and making these offers. I realized that there were still a LOT of people that I talked to who indicated that they might be interested in selling their house to me in the way I was trying to describe to them, but why don’t I just ‘send them some information’ so they can fully understand what I was able to do for them. In other words, they were curious but not motivated enough to meet.
And that’s when it hit me like a slap on the face on a cold day in January!
What I was doing with those sellers was the same thing that I believe most investors do with them: NOTHING! There was very little follow up done, because I often believed that it just wasn’t worth it to follow up. But boy, was I wrong!
I figured that if these people wanted something to read, why don’t I just give it to them? Since I had nothing to lose, I just started… MAKING OFFERS to these seemingly unmotivated people, just to see what would happen.
I love marketing. And one of the BIGGEST, time-tested concepts in marketing is the TEST. So I decided to do a little test. I hypothesized that if I just made a couple offers to the next 10 sellers I talked to who weren’t ready at the time that I’d be able to at least talk with them at a higher level when I followed up later.
What Happened As A Result Shocked Me…
I couldn’t believe it! Several of the sellers who initially told me that they weren’t interested, couldn’t understand, or weren’t flexible – started calling me back! And the ones that didn’t call me back were a LOT easier to talk to when I called them back to follow up.
I found that many of these people were more curious and open to talking about HOW this worked and which offer might be best for them. In other words, it was like getting another turn at bat, to use a baseball analogy. It gave me another chance to talk to them about how we could do business together!
This strategy also raised my conversion rate considerably, which allowed me to do more deals and make more money. Do you think it would work for you, too?
As creative real estate investors, it’s important to recognize that what we DO for people is quite ‘different’ than the normal way things are usually done. If someone that we’re talking to is confused or just doesn’t understand the benefits of our various programs (which is more often the case than not), we can either dismiss them as not being “Low-Hanging Fruit,” or find a way to inform and educate them a little bit about how we work and what we can do for them. Only then can they truly make an informed decision.
So part of making offers is educating the sellers/prospects. And when a seller has a legitimate offer in hand, it gives them something “tangible” to read and evaluate. You see, we all have 3 prime ways that we learn: Seeing, hearing, and feeling. If all we do is talk to someone on the phone, they’re essentially only hearing what we’re saying, while at the same time getting a ‘feeling’ of everything. But when we put an offer in their hand, it also gives them something to see & read. This solidifies their learning and comprehension, because it incorporates all 3 learning modalities. It also gives them more reason to talk with us.
Not only that, but VERY few people are using this strategy. Most people are scared and lazy. They feel like if the person to whom they’re talking isn’t ready that very first time they talk to them, they’ll never do business together…and that’s just ridiculous.
If All You’re Trying to Eat is The Low-Hanging Fruit, You’re Gonna Starve!
…Especially When it’s a Seller’s Market.
The Fortune Is In The Follow-Up
We all know (and statistics show) that MOST of the business we do comes after communicating with with our prospects in some way more than 7-8 times.
So how does this benefit YOU, and what can you DO about this? Well, I believe that the answer is quite simple: Make More Offers! Make offers, even when they say they’re not interested. Make offers when they tell you to ‘send them some more information.’ Make offers when they’re confused. Make offers when you’re confused! Just Make…More…Offers…to more sellers…more often!
This now begs the next question: HOW do you make those offers? Well, the great news is that it doesn’t have to be complicated. It doesn’t have to be hard. And it doesn’t have to take too long to do it. All it takes is a simple, reliable solution. You can (and should) set it up so that it’s a template – one where you can essentially fill in the blanks to get your offers out.
A great strategy is to have 3 offers for the seller to consider. For example, Offer 1 can be an All-Cash offer (at a Wholesale MAO price); Offer 2 can be either a Sandwich Lease Option OR Owner Financing deal; and Offer 3 can be a Lease Option Assignment, aka “ACTS” deal. Please note that the Sandwich Lease Option and the ACTS would NOT be used in the great state of Texas, due to legal limitations there.
Here’s how to get those offers out: When talking with a seller, you’re obviously going to be asking them questions about their situation. If you determine that they’re not motivated now, or are not worthy of going to meet them and see the house to write up a contract/offer, the next best thing would be to take this approach…
Quick Script Time: “Mr. Seller, I appreciate you taking the time to talk with me about your house today. Unfortunately, it doesn’t seem like it’s going to be a good fit for us because insert reason here (example: ‘you’re asking full price, all cash’). But I tell you what… I’ve enjoyed talking with you, and I am interested in your house, so why don’t we do this: How about I send you some information on how we can buy your house and give you something to consider, and maybe we can talk again in a few weeks or so? Maybe by then, you’ll have sold your house, and I’ll be the first to congratulate you! But if not, then maybe we can re-visit this conversation at a higher level to see what we can do then. Does that sound good?”
BOOM! I mean…WHO would say NO to that? Almost nobody! And if they do say no, then thank them for not wasting your time.
So when they say, “Yes,” you say, “Great! What’s your email address? I’ll get this right out to you today.” Then you take their email address. TIP: I would also suggest that you go ahead & schedule a follow up appointment with them anywhere between 1-4 weeks.
Now you have all the information you need to shoot over your offer letter package, so write it up and send it out – either by email or snail mail… or both!
In other words, ‘Whip it & Ship it!’
The next time you talk with them, they’ll be more informed. Many times, their original goals didn’t work out, so they’ll be much more open to what you have to offer. Be prepared to discuss things with them when they call you back. And try not to act too surprised when they do! Or call them back after a little while to follow-up. Just be sure to mention the offers you sent them, and here’s a quick tip for you: Ask which offer they liked best!
The Idea is Super-Simple: If you do this consistently, you WILL have more success. I can practically (but not legally lol) guarantee it!
Would you like all this DONE FOR YOU? What if you had a very SIMPLE SOLUTION that takes all the hard work, calculations, and guessing OUT of this process? What if you could quickly generate (in less than a minute or two) THREE Customized, Personalized OFFERS and crank them out to ALL the sellers you talk to, all day long?
If you could do THAT, How Many Offers would you write up a day? A week? How many deals do you think you could do if you had that ability?
Well, now you CAN! For More Information, Just Visit…
To close this up, I’ll just repeat those prophetic words that my early teacher/mentor said to me…
“If You Ain’t Making Enough OFFERS, You Ain’t Making Any MONEY!”
Now that you know WHY and HOW to make those offers, you won’t have any more excuses. So just TAKE ACTION, and I’ll see you at the top!
Until Next Time,
Copyright 2018 Tony Pearl | All Rights Reserved
BIO: Tony Pearl is a writer, speaker, copywriter, coach, mentor, marketer, musician, poet, ballroom dance instructor, world traveler, father, fiance, internet marketer, voiceover artist, and real estate investor. He’s also a Politically-Incorrect Insomniac with ADHD who specializes in adding massive value to people’s lives by helping them overcome limiting beliefs, have more fun, and make more money while improving lifestyles through investing in real estate!