4 IMPORTANT Questions To Ask Motivated Sellers
And from there, you get to start having the conversation regarding how much they owe, how much is their mortgage? Are they you know, current and up to date and all the other further questions that you can find or that you can use when talking to a seller.
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What’s up everybody. Welcome back to my channel. I am Justin Colby. And you’ll get all things that are entrepreneurship through real estate right here on this channel. If you haven’t yet, make sure you subscribe as I dropped five videos a week. And if you liked this video, make sure you give me some love and smash the like button. Now in this episode, we are going to talk about what to ask when talking to a homeowner. Specifically, what four questions are must asks when talking to the seller. So let’s just jump right in. The first question is, why are you looking to sell? The reason why you want to know that is you want to see if the homeowner is actually going to volunteer information about their motives. Now, like most conversations, most people keep their secrets close to the chest. So you might not actually get a seller who genuinely, truthfully, are telling you why they’re looking to sell. That’s okay. That’s why you have other questions that you’re going to be asking. But you want to try to find and seek out the motive of why they are looking to sell. The second question that you want to ask is Why haven’t you sold it? Yet? Another way of framing that is why is now the right time for you to sell. You could use either one, or maybe even both. The reason again, you want to ask that is to figure out the motivation of timing. Why is now the right time? Why haven’t they sold six months ago, a year ago? Why today? Why are we having this discussion today? If you can figure out some level of motivation from Question number one, then you layer that on with motivation of timing, you’re starting to get somewhere in the conversation. Number three, why haven’t you listed it? Now most people in real estate or not in real estate for that matter? They realize the easiest, or the most common way to sell a home is on the real estate market on the MLS with the realtor. So when you’re discussing the opportunity to buy a home from the seller, you should ask the obvious, why haven’t they listed it on the MLS? What you’re looking for is the motivation, that you’re trying to see how much money they need to make. You’re trying to find the motivation of not wanting to pay a realtor or to realtors or motivation of not wanting people going in and out of the house or motivation of the ease of the sale trying to make it easier because they need to sell fast. So you layer that third question onto the first two. And you’re really starting to get a good picture of why they’re looking to sell why they haven’t listed it and why now is the right time. And lastly, you must ask How fast would you like this transaction to happen? Or another way is when would you like this to close? Now out of the gate? You might think that that is a question or revolving around timing. To some extent it is but the reality is what I’m trying to look for in that question is to see if the speed has to be fast. There’s usually an underlying financial motivation. Usually financial, could actually be a job commitment or otherwise. But there’s usually an underlying motivation that I haven’t yet found or pulled out of the conversation with the seller. So I’m trying to get to the underlying motivation, and figuring out the speed at which they needed to close meaning the escrow closes and they collect their money.
I’m trying to figure out what is the speed they’d like that to happen in because if it’s financial, like they can’t pay their next mortgage payment, then that speed is going to be short. Can we close this month? Can it happen in a couple of weeks, things of that nature you’re gonna get an answer from and I’ll tell you a bonus question. While you’re having this conversation, a very nice comedic way to figure out how much money they want to sell for would ask a question something similar to in your perfect world at the close of escrow, how much money would you like to pocket take home at the close of escrow? Now when you get that? Let’s just say they say 20, grand 40 grand 60 grand? It’ll allow you to layer on another question regarding well, how much do you owe to the bank? How much is your loan? And from there, you get to start having the conversation regarding how much they owe, how much is their mortgage? Are they you know, current and up to date and all the other further questions that you can find or that you can use use when talking to a seller so if you’re liking this smash the like button make sure you subscribe because the YouTube gods really favor that hopefully you found this educational and you can use this in your day to day real estate investing business. I’ll see you guys on the next episode. Peace
