From REI Academy
When I first started in the business I was taught that one way to
find good deals was to call sellers who had ads in the "Real Estate
For Sale" section of the classifieds. I tried this and soon
discovered that approximately 90% of the sellers I reached were
simply not motivated. In fact, some were downright offensive and
nasty.
Have you ever asked a non-motivated seller what their mortgage
balance was? I can tell you that it can really bring out the worst
in those sellers.
When you are talking to the right seller, their mortgage balance
is a piece of information they'll readily share with you. In fact,
this can be one of the most critical qualifying questions.
The bottom line is this: you need to have sellers calling you.
When they do, they pre-qualify themselves as "motivated enough to
pick up the phone and call".
If you are concerned about your positive mental attitude when
you're calling sellers, here's an important key. You've heard me say
it over and over. AVOID PEOPLE WITH NEGATIVE ATTITUDES LIKE THE
PLAGUE. In fact, I say you should contract an acute case of
"selective deafness". Slam your ears shut like steel traps whenever
you detect the presence of negativity.
But wait. You say you want to do some outbound calling to sellers
but want to reach motivated sellers. How can you do that?
Here's a hot idea. Call the classified ads under Houses (NOT
apartments!) For Rent (NOT For Sale!)
Think about it. Someone who owns a vacant house is running each
one of those ads. And there's an excellent chance that, when the
idea is presented to them, that they would love to sell that
pain-in-the-neck house.
If you've ever been a landlord, you know that if your property is
sitting vacant that's the point at which you'd be willing...if not
desperate...to sell. I do this and it works.
If you have the grit to make cold calls, calling the Houses for
Rent ads is the most effective use of the classifieds when you're
buying because these individuals are motivated. If you're not
working with motivated sellers, you won't be in the business long.
