The idea of listening to your seller’s needs sounds super simple. Except, so many investors don’t pay enough attention to what the sellers are telling them. They’re so focused on how much money they might be able to profit, they forget that there’s a human being who’s in a tough situation and came to them for help.
Yes, you need to make money on a deal. We get that.
But a good investor will be able to help the seller out while having a profit margin.
You never know what the seller is going through until you start asking questions. Focus on their motivations to sell and where their struggles are so you can come up with a solution that’s helpful to them.
It’s case by case.
Ideally, you’ll be able to find out a way to help them out, whether it be helping them move, finding a new place, cleaning the property out, or a number of different other options. Some people need a gentle hand to help them through the first steps of moving onto their next journey.
Be that gentle hand.
Even if you aren’t able to buy the property, take a few extra minutes and listen to their story and see if you can provide any assistance or recommendations. It can mean the world to them just to have a person “on their side” for a few moments.
When you’re sitting down with the seller, you don’t have to ask about the specifics on the house. You can pull the square footage and beds/baths from records pretty easily, but you can’t find out their motivation without a conversation.
During conversations with the seller, ask what is needed, and then shut up.
Simply stop talking.
Let them talk as much as they’re willing to and ask questions as needed to find out the true pain and possibly, what they’re needing in order for them to sell the property to you.
If you can get them to tell you what they need in order to sell, that’s the best-case scenario. That way, you can judge how far off your offer might be and you can tailor your offer based on all the information you know.
Listen carefully to what they are telling you. The more comfortable you make them around you, the more you’ll find out.
Knowledge is power.