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The signs are talking to you, READ THEM!
by Jean Joncas
For Rent Signs
When I see a For Rent sign on a single familly home, I just walk up to the home and knock on the door to see if anyone is home. If there isn't, that's okay. I just make note of the information on the sign with the landlord's phone number so I can make an appointment to visit the home. I pretend to be interested in renting the property so that I can get into it to do an A-Z inspection.
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| "...I do my homework." |
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Before I go visit the property, however, I do my homework. I find out how much similar properties in the neighborhood are selling for and then, after I have visited the property, I ask the owner why he or she is renting instead of selling. Guess what Jeff? Most of the time the owner is renting because he couldn't sell it and didn't know anything about Lease 2 Purchasing!
Next I ask the owner how much he or she wants for the property. If they give me a price below market value for the neighborhood, then I see a good Lease 2 Purchase candidate because the owner is already willing to lease out the property. I simply can't think of a reason why the owner wouldn't want to do a Lease 2 Purchase deal because they already told me they were interested in selling it. WOW!
Realtor Signs
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| "...contact me immediately." |
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Regarding properties that are being sold by realtors, there is usually a sign in the yard. With these, all I do is get in touch with the owner of the property. I inform them that when their contract with the Real Estate Company is terminated, and if the property hasn't been sold, to contact me immediately. I explain that if they want to sell their property within 30 days, all they have to do is give me a call in order to make arrangements. I give them my card which contains my name, telephone numbers, fax number, and my email address.
These real estate signs really talk to me Jeff. Why? Because they inform me right away that the owner was willing to lose something like 7% on the selling price with the Real Estate Company that had the property listed. Can you imagine if the owner was also willing to lower the sales price?
Example: Asking price: $100,000 minus 7% for the RE commission = $93,000 left. Then lets say the owner lowers the price even more. WOW! The owner is losing a lot of money just because they don't know anything about Lease 2 Purchase deals.
So for a deal like this, I simply make an offer around 5% less than the asking price and then I listen to the owner for his or her answer. What do you think Jeff?
Note From Jeff
It sounds fantastic, Jean! Please note that Jean says "I listen to the owner for his or her answer..." This is textbook sales technique.
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| "...SHUT UP..." |
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Since the success of your Lease 2 Purchase business is somewhat dependent upon how good of a sales person you are, you will need to learn to "SHUT UP" after you've made your offer. I know, it sounds a little weird, but by rambling on about how wonderful a Lease 2 Purchase is, you could possibly talk your prospect out of the deal.
What comes out of their mouth next is very important. It will either be an acceptance of your offer or an objection (i.e. "sorry, I need all of my cash right now"). If it's an objection, you'll have to work to overcome it. If the seller accepts your offer, "Hellooo easy street!"
Good work, Jean!
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