Most people want someone they can trust to work with in any situation, and when it comes to selling a home, even the most desperate of individuals wants to feel safe and secure with the person to whom they are selling. In order to motivate even the sellers most ready to part with their home to work with you in a trusting relationship, there are several ways in which you can engage that person and make them feel at ease when considering doing business with you.
In order to make an individual more comfortable with the idea of selling his or her home to you, the first key is getting to know the person. There are several questions that you can ask as a real estate investor to appear more personable without seeming nosy. Engage the person in general conversation, starting with a simple question, like "where are you from?" Let them answer, and tell them that you've always wanted to visit there or mention if you have a relative in the area, finding some common ground. Then, ask them what their occupation is, showing sincere interest and telling them that you would like to know more about it.
Find out what his or her hobbies are, and share some notes about those. For instance, if your motivated seller happens to be a coin collector, ask about the commercials you see on television regarding the collector's sets and get their take on whether these are actually valuable pieces. Show interest in their activities. One way to assure that you can do this is to have the seller show you around the house, giving you a short tour so that you can take in details, such as bowling trophies or pictures of family that you can use to make conversation and build up rapport with the potential client. These personal touches can create trust and confidence in your business relationship.
One excellent way to draw out the motivated seller is to ask one very valuable question: why are they selling such a fabulous house? After all, you are looking for newer homes in nice, clean neighborhoods, and you will boost the person by complimenting the home while also gathering information on what is creating the motivation for this seller (a divorce, medical bills, etc).
When you've accomplished all of this, it's time to sit down and give the message to the homeowner about what you can do for them. The best way to fulfill this obligation is to ask four basic questions. Have the motivated seller repeat why they are selling such a lovely piece of real estate. Ask them who else or what else they have tried in attempting to sell prior to speaking with you. Ask them what they hope you can do for them right there, today. They will probably state that they hope you will agree to buy the house. At this point, inform them that you can't buy today due to the lack of equity in such a brilliant new home. Then, explain the lease purchase option and see if they are interested in the potential involved in this. If so, you have latched in your motivated seller and are ready to begin your adventure as a real estate investor setting up the home for a rent to own or lease purchase option.
