Summary of What NOT To Do On A Seller Call | Failed Seller Call

Summary

The video titled "What NOT To Do On A Seller Call | Failed Seller Call" features a discussion among real estate professionals about a challenging seller call. The main focus is on the miscommunication and expectations set by the real estate agent, Mark, regarding a potential property sale.

Main Financial Strategies and Business Trends:

Seller Financing: The presenters emphasize the importance of using Seller Financing as a strategy to acquire properties, particularly when sellers are fixed on a specific price.
Creative Financing: They discuss various Creative Financing methods, including structuring deals that allow sellers to retain some equity while also providing the buyer with favorable terms.
Market Dynamics: The conversation touches on current market conditions, highlighting that many homeowners are not motivated to sell due to high interest rates and the difficulty of replacing their homes.
Cash Offers vs. Seller Financing: The presenters discuss the difference between Cash Offers and Seller Financing, with an emphasis on how Seller Financing can sometimes provide a better deal for both parties.

Methodology/Step-by-Step Guide:

Establish Rapport: Build a good relationship with the seller before discussing financial terms.
Understand Seller's Position: Assess the seller's motivation and current market conditions before making an offer.
Present Multiple Options: Provide various purchasing options (cash offer, seller finance) to give sellers flexibility.
Request Proof of Funds: In unique situations, like unlisted properties, request proof of funds from buyers before showing the property.
Document Everything: Use email to outline all options discussed for clarity and to ensure all parties are on the same page.
Avoid Direct Agent Outreach: The speaker expresses a preference for direct communication with sellers rather than going through agents to avoid miscommunication.

Presenters/Sources:

Pace Morby
Jenny
Mark (the realtor)
Sean Turani (the seller)
Justin (mentioned in the call)

Notable Quotes

— 29:28 — « A fast no is better than a slow maybe. »

— 30:25 — « The Black Swan is the unknown enemy; it's the person who is behind the scenes. »

— 36:10 — « It's like putting a screen door between me and my house; what did I need the door for? »