Sure, it can be exciting to show off your large profit from a deal closed.
You have that gratification of another deal closed and it’s easy to consider your monetary success as a way to measure how well you’re performing.
Except, your success should be measured by more than monetary profits.
When we’re meeting with motivated sellers, we’re providing a solution to someone’s problem. They’re reaching out to us because they’ve gotten to the point that owning the property is causing them distress.
If you can make the process smooth and easy for them, it can change their lives. From cleaning out the property for them, assisting them in the actual move, having a flexible timeline, and other small acts of kindness, can be huge for the seller.
Normally, these small acts are easy for the investor to pull off.
Meeting with a seller who inherited the property and doesn’t want to go through all of their relatives possessions in the house? Offer to take care of the contents, including donating what you’re able to.
Have an older woman who can’t take care of the property anymore and is ready to move in with family or in assisted care? Coordinate your closing so they have time to move everything and if needed, hire movers to help her with the transition to her new home.
When you go on an appointment with a seller, build rapport with them and get to know their motivation. By just listening to their story, you can find not only their motivation, but also their timeline, their opinion on what the house is worth, where they plan to move, if there’s a mortgage on the property, and so much more!
Let them talk as much as they’d like and as the conversation allows, guide the story with questions you need to ask. If they’re comfortable with you, they will likely share more than enough for you to determine how motivated they are and how you should structure your offer.
Remember, sometimes, they expect that their home is worth WAY more than you’re willing to offer. When this happens, explain how your number is going to be lower to account for repairs, holding costs, and the time it’s going to take to sell the property.
By explaining how you got your offer, it can help them understand realistically how much their property is currently worth.
This can bridge the gap from their expectations to your discounted offer.
At the end of the day, you’re helping someone get out of a tough situation. By being able to close quickly and in “as-is” condition, it allows the seller a way out.
Anytime you meet with a motivated seller, consider how you can make their situation a little less stressful.
Sometimes it can be the smallest things that make the most impact.