The Real Cost Of Sellers Waiting For Full Price

Jun 20 / David Lee
In the world of property, everyone has been conditioned. You buy a house with a deposit and a mortgage. If a property isn't selling, the estate agent drops the price. When a chain of sales falls apart, that's simply accepted as part of the process, and everyone starts again.

Not everyone embraces change. In fact, many resist it. To begin with, they don't know you and they don't trust you. We've all been raised with warnings such as "beware of strangers" and "if it sounds too good to be true, it probably is".

So, let's prepare you to show sellers how they can make more money than by selling through an estate agent—without them looking at you as though you've just escaped from a maximum-security prison.

1) Conditioned Seller Mindset 2) Breaking The Ice 3) Showing The Money

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Conditioned Seller Mindset

Unfortunately, most residential house sellers will often not be very receptive to your creative strategies in your publicity or initial discussions. When motivated to sell, expect many to say, "I want all the money now!", which is their conditioned reaction to solving their immediate problem.

In other instances, you will get sellers holding out for what they believe is yesteryear's "market price". They are often the last to discover that the waiting game is turning into a long wait. While the houses around them keep dropping their asking prices, they stubbornly believe theirs will be different.

Up front, give them hope, but not detail.

Breaking The Ice

You have the following marketing dilemma you need to resolve:

1) Say too much, and trigger the "too good to be true" alarm bells;

2) Say too little and be mistaken for every other discount cash buyer;

3) Keep a middle ground, remain factual, and create enough curiosity for the seller to want to know more.

Congratulations if you selected option 3! Now, think of "pain points" that will arouse their curiosity and ask yourself the questions that address each of those points.

Grouping them into three offers a good balance:

1) Can you offer more than typical discount cash buyers?

2) Can you give certainty of sale?

3) Can you solve any immediate personal/financial urgencies?

If your creative strategy can address the seller's pain points, and without detailing your solution, then you now have your marketing strategy that allows you to break the ice out of their own curiosity.

Showing The Money

Up to now, have I discussed any creative strategy in particular? No! Is it possible that there are various potential strategies that can relieve the above "pain points"? Absolutely!

The more they can identify and express their pain, and the more you can show them the money, pain relief, clarity and a sense of control, the more you will be trusted. And still, is there any real need to describe the mechanics? Like their doctor, explain how they will feel after taking the pill you prescribe to them.

You can spend a fortune learning all the mechanics of creative real-estate investing, but when you boil it down to the bare basics, this is where creative deals are won or lost. It may sound too simple, but that's how it should be.

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