Think about your first step when working with motivated sellers: Build Rapport
People do business with people they like and have a connection with.
If you want to make a connection with a motivated seller, begin by listening. Learn to ask questions to get the other person talking about his or her situation. When they do start talking, learn to actively listen. Hear what they’re saying, respond with appropriate words and sounds and facial expressions if you are in person. Ask follow up questions. If you can learn to listen, you’ll go a long way with sellers.
When striking up a win-win situation, you already know what your “win” looks like. However, not every seller you meet wants the same thing as the last. If you listen hard enough, the language a seller uses can give you clues about their values, what motivates them, and what it is they truly want.
Armed with this information, you are then able to structure an attractive deal. As an example, I recommend you read the article about a motivated seller who only wanted some cash and gold coins.
4 Ways to Actively Listen
At least half of the communication equation is listening. But, listening is more than being there while someone else is talking. Good listening means understanding what is said. Learn how to truly listen to someone, to understand what they’re saying, to empathize.
1. Stay in the moment
We have all been there trying to have a conversation and the other person mentally checks out while you speak. Aside from it not being polite, it does you no good when needing to orchestrate a win-win.
Once a distressed seller begins to talk, there’s no stopping them until they have given you—what it seems like—their life story. There’s a great post about having patience with sellers. The article also helps for when you start feeling that the seller is wasting your time by telling you every detail of their hardship.
When you are having a conversation with a seller, it is important to keep your focus on them. Try not to be distracted by your surroundings. It is tempting to look up online everything about their property while you still on the phone. However, try to avoid multitasking too much. It is easy to tell and very annoying.
The next time you answer a call from a motivated seller, commit to giving the other person undivided attention
2. Quiet your inner voice
There is so much running through a new wholesaler’s mind, “keep cool, don’t mess this up… this is finally a motivated caller after all the marketing I put out… oh no! What if they ask me about something and I don’t know the answer? What if I don’t know how to help them?” So much, in fact, they are not even listening to the seller on the other line, or worse, in person!
Once the phone is answered, your inner voice can be hazardous to conversations. You run the risk of missing half of what the seller is saying when you are listening to yourself. So mentally click off that inner voice and try to stay focused on the other person.
3. Stop rehearsing
You’d be amazed how much people never really hear each other at all, because they are too preoccupied with formulating a response. How can you listen when you are too busy preparing a reply? Learn to gather your thoughts after the other person is finished speaking. At that moment whatever they have to say is much more important than thinking ahead to what you will say next.
4. Listen to the tone
Language has a musical quality, filled with rhythms and beats. When a seller speaks to you, listen to the music and tone of his or her voice. Do the words and tone agree? It is similar to looking at a fake smile where the corners of the mouth turn up, but the eyes do not light up.
If the words and tone do not agree, the seller may be sending you a mixed message. Ask questions to find out what he or she means.
Talk less, listen more
That is what it comes down to.
When a motivated seller is comfortable opening up about their current situation, he or she will reveal so much more. Don’t assume all motivated sellers want the same things. Make an effort to see them as a unique person.by