Article
- "Spiritual,
Real Estate Entrepreneurship - 101"
"How
To Talk To Sellers
And Get Them To Accept
Your Offer Every Time"
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From The Desk Of
Joe Crump
Date:
Indianapolis, Indiana
RE: Article - "Find
The Pain."
|
Joe and Katie on a boat
off Ireland's southwest coast - seal watching |
Hello
My Friends,
The
article for today is a dialogue with my Inner Circle Group. We get
together on a teleconference every other week and all I do is answer
questions.
Sometimes,
the biggest hurdle my students have is themselves. Read the
following dialogue and see if you can find yourself in this problem.
Listen to my answers and see if they make sense to you.
Being
able to speak to a Seller credibly is vital to this process, but it
only comes through knowledge, practice and proper coaching.
Let's
listen in... (forgive the typos.. it's a straight transcript of the
call)
Joe: Out of the 5
Sellers that you talked to, why do you think you didn’t you put a
deal together?
Kara: One wanted
references and my credit report.
Joe: And why did they want that?
Did you ask them why?
Kara: Yes, because she said she
didn’t know me from Adam and she basically didn’t trust me __.
Joe: Well, you can …
Kara:
Considering I don’t have any references, I stumbled over my words
and lost the deal.
Joe: Right. Did you know that no
one ever asks me for my references. No one ever asks Azam or Rick or
Nina for their references. (Joe's Note: Those are
three of my now wealthy, successful students)
Kara:
Why is that?
Joe: It’s because of the way you
approach it. It’s the way that you come at the deal. First of all,
you’re not coming at it as an investor. You need to come at it to
solve their problem. You know I’m here to help you. I'm not
looking for a job... I'm qualifying you to see if I can help you.
You’re there to solve their problem and if they want you to help,
you can do it. Part of it is you have to go in and try to find out
what the problem is. Did you find out what the problem was before
she asked you for that stuff?
Kara:
I did.
Joe: And what was the problem?
Kara:
She had a townhouse and when I first started talking to her about
why it had been listed so long, and how she had a lot of showings.
The feedback that she got back from people was that the property was
in a high rent area and they didn’t like that. The homeowners ….
Joe: They didn’t want to have a
condo in a high rent area?
Kara:
Apparently there were apartment buildings and stuff, too.
Joe: O.K. An area that has a lot of
rentals?
Kara:
Uh hum.
Joe: O.K. So she just couldn’t
get it sold?
Kara:
Right.
Joe: But that’s not her problem.
What’s her problem?
Kara:
Well, the problem is she is getting ready to move into a house next
week and she was stressed because she was going to have to be making
2 payments. So she found someone to rent the property, Section 8.
She didn’t realize that going on Section 8 the property has to be
vacant for Section 8 to come in and do their inspection, blah, blah.
Because of that she fell beyond the 10 days that they have, and she
was trying to find out a little bit more information of what I did
so basically then she could do it herself.
Joe: Let me stop you again, Kara. I
think you’re missing the point. I don’t mean to beat you up
because I think a lot of you guys are missing the point on some of
this stuff. What is the problem that the seller has? It’s not
about the problem they’re having selling the property. That’s
not their problem. What’s the problem of not being able to sell
their house? We know they need to sell their house. What does not
being able to sell their house create for them? What is the problem
that that creates for her? Was she able to make that payment without
a problem if she doesn’t get it sold?
Kara:
No. I guess that’s why she wants somebody to rent it.
Joe: Right. So, there’s her
problem. Now does she like being a landlord?
Kara:
No.
Joe: Why not?
Kara:
She said she was willing to give me the job.
Joe: I think that’s the crux of
it. Is she motivated? You’ve got to find that out. And if she’s
willing to be a landlord and experience that, she’s probably doing
that because she hasn’t experienced it before. She doesn’t
understand what she’s getting into. That’s no problem. It just
means that she’s not motivated enough. So sometimes what you have
to do in a situation like that is start asking her questions. Have
you been a landlord before? Have you heard any horror stories about
being a landlord? Do you think that’s going to be a problem at
all?
So you see, it’s not an issue for
you at all. Try to help her. First of all, see if she is afraid of
it. Because some people just do it and think "I’m going to
succeed." You know a lot of people are good landlords and they
like it. But other people go at it – "I really don’t want
to be a landlord." I really hate this but it’s my only
resort. My credit is going to be trashed. I’m going to lose
everything. I’m going to file bankruptcy. That person is
motivated... not the person, who wants to try it and say "I don’t
mind giving it a try, it might work."
Kara:
I think that was where she was. She was going to get a couple
hundred dollars in cash flow on it.
Joe: Right. What you can do is say
if you get into this landlord thing and find out it’s not your cup
of tea, because I know a lot of people who are calling back me
later... just call me back and I’ll be happy to work with you
then.
If you keep control of the
conversation, I think may be what’s happening... you are losing
control of the conversation. If you ask questions, you have control
of the conversation. The only way that you are going to give them
confidence is by leadership. You are going to give them confidence
by showing that you know what you’re talking about. And you don’t
feel confident that you know what you’re talking about.
That’s the problem with all
beginners. You know you don’t feel that confidence. I think you
underestimate your own knowledge of what you’re doing here. You
have a lot of knowledge about this process already. I’ve talked to
you. I know you’ve been to the buying events. I know you’re
smart and personable... So it’s just a matter of you saying
"I’m going to take control of this conversation."
Here are the questions in front of
me. I’m going to lay them right down here and I’m going to ask
these questions. And you’re always going to have the big idea in
front of you – find the pain.
Find
the pain
See if they really understand their
pain and if they don’t understand their pain, help them understand
it. And if that doesn’t work, they are not motivated. And you go
on to the next person. But find the pain and you’ll find the
deal.
If there is no pain there, there is
no deal there. So you have to constantly go for that pain. Once
again, I don’t mean to keep beating on you, cause I’m really
directing this to everyone on the call.
Having a house to sell is not the
problem. Having a condo that’s in an area that has a lot of
apartments, that’s not the problem. Having a real estate agent
that doesn’t know what they are doing, that’s not the
problem.
The problem is that they can’t
get their property sold and if they don’t get their property sold,
they are going to experience X pain.
They can’t make the payment. They
can’t solve that problem somehow. Or they’ve got to get away
from that property for whatever reason. It’s not always money that
creates the pain. And you have to be able to discern if their pain
is sufficient enough.
It goes back to my old story of the
lady who lives across the street from her ex-boyfriend who got a
new girlfriend. And she just doesn’t want to live there anymore.
She is in pain and you cannot gauge other people’s pain. That was
something that my brother told me a long time ago and it wasn’t
about business. It was just about life in general. You know, people
experience pain in their life and you can’t know what kind of pain
they are going through even if you go through some of the same
things they have.
You may be able to empathize on
some level but you can’t understand the exact pain they are going
through. I was talking to my wife the other day and when she was
working as a legal secretary in LA before I met her, some of her
friends were black.
They lived in South Central LA.
They were constantly telling her that you couldn’t possibly
understand what it is to be black. This was an Irish, Catholic girl
coming from 6 people in her family. It’s true she couldn’t
experience what it meant to be black, but she could experience what
it meant to grow up in an all Hispanic area when she was a white,
Irish girl. And she could experience what it meant to be isolated
and left out and abused. She could experience some of things they
have in common even though she couldn’t experience their exact
same thing.
We don’t know what the pain is
that they are going through and a lot of times they won’t even
tell us the things that go deeper than the financial stuff because
there is usually something on top of the financial stuff that is
eating at them.
If you can find out what they are
trying to accomplish, you can solve their problem.
That’s why people come up to me after we do a deal together and
hug me and cry and thank me. That’s why buyers come up to me and
say, "You can’t imagine what this means to me to have a
house. I didn’t think I could ever buy a house."
That
is
the thing you have
to be focused
on
You have to take the focus off of
yourself. This also by the way (excuse me if I’m ranting, but I
think I’m going to write a real estate book on this). I think the things that
you need in order to accomplish what you’re doing, comes from
self-confidence.
The self-confidence comes from the
idea of what you’re doing and why you’re doing it. If you going
out there just to make money, that’s a whole different attitude
than if I’m going out there to see how many people I can
help.
I don’t know how to explain that
clearly. I’m not sure if I’m getting that idea across very well.
You know when you heard that mantra, from Zig Zigler, the more
people you help, the more money you make. But if you truly go at it
and say, "Who is this person and how can I help them? Do they
have a problem? Do they recognize their problem? Can I solve that
problem for them?"
If we change our whole mindset...
Change our whole attitude about why we’re doing this and the
frustration, anger and resentment and fear of failure that come with
this process, they disappear.
When you focus on somebody else...
here's an example...
When I first got up in front of a
group to do a seminar, I didn’t really know what the heck I was
doing. I got up and started talking and 20 seconds into it (it
seemed like it was minutes into it, but it was really only seconds)
I realized I was just rambling. I was nervous. I was thinking about
myself. And I said to myself right then and there, "Joe, you’re
thinking about yourself. You know, these people came to learn. What
do they need to learn right now? Teach them what you know because
you know a lot." I suddenly stopped, I paused and I looked at
each one of them in the audience and I started teaching them.
Because I knew they needed to learn what I had to say.
It changed everything. So don’t
think about yourself. That’s what causes the nervousness. That’s
what causes the lack of confidence. That’s what causes the fear.
That’s why people don’t want to get on the phone. Because the
core reason they are doing it is for themselves and not for somebody
else.
This is Spiritual, Real Estate, Entrepreneurship
101. (Laughter)
Kara:
Well, I believe that too. You have to believe in your heart that you
are going to be able to help people or it’s not going to come
true. And if you’re just in it for the money, that will show
through.
Joe: Well, you can do it just for
the money. I’ve seen people succeed just for the money. A lot of
times they just hammer their way through. But you know most people
aren’t comfortable with that. Most people feel uncomfortable with
that. Most people have been raised with the idea that if you’re
rich you have taken advantage of somebody. And somehow you are
taking advantage of somebody when you go in there and take their
property from them when they are in distress. To me that’s the
same as looking at a heart surgeon and thinking he/she is taking
advantage of that poor person with a heart problem by charging them
all that money to save their life.
Kara:
I don’t know if the surgeon would think that.
Joe: No, none of them do. That’s
because they are in there saving those people's lives. And those
people they save are happy to pay that money. Why is it that real
estate investors feel like they are going in there and taking
advantage of people when they are going in there and saving those
people’s financial lives. I mean, that’s what we’re
doing.
So we have to start looking at
ourselves a little bit differently and also think about what we’re
doing differently because it will change our resolve. When what you’re
doing isn’t working, you stop doing what’s not working and
change it.
And you look at the root of what’s
not working and for you, it’s not because you're not getting
responses to these ads. You know that’s coming in. And there are
plenty of other places to get leads. It’s because of the way you’re
talking and putting deals together. There are other things that
could happen that could create problems in your business. We’ve
got places in the country that may be a little harder to work in and
you’ll have to go out of your area. So there will always be
challenges.
Kara:
I don’t think that is what is here, because I have a stack of
quality leads that I’ve ran ads for and I haven’t been able to
do a deal. So, obviously, it’s something with the way I’m
speaking to people.
Joe: Right. I think it is too. Are
you going to come to the boot camp, by the way?
Kara:
I may try. Yeah. (Joe's Note: She was there and put deals together
while she was with me)
Joe: O.K. Do you feel that helped
you to get involved with the process.
Kara:
Oh, yes. It did a lot. But there again the leads I had and was
working on didn’t come through.
Joe: But you have to learn how to
do it first. I'm trying to teach you a whole new career in a very
short time. Most people will go spend 4 years in college or 6 years
or 8 years of college to learn a skill, here I’m trying to teach
it to you in months or weeks. There’s a lot to learn, but there
are certain basics that you can do immediately.
The more people you talk to, the
better it’s going to be for you.
Joe's Note: Boy, that
was good. I'm smiling as I read this. I love this stuff. It is the
heart and soul of what it takes to succeed in life. Get rid of the
focus on yourself and put it on others...
then get the specific knowledge you need and practice like crazy to
get yourself to the next level.
Knowledge, commitment, ACTION...
and the greatest of these is ACTION.
Here
Is The Specific Knowledge
You
Need
1) First of all, stop using your cash for down payments and stop using your credit to guarantee loans.
Stop now. It will only lead to loss and pain... and it's completely unnecessary.
2) Go and
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and read it. It will explode your brain and put you on the road to real estate wealth with practical tips and techniques for creating quick chunks of money you can put in your pocket and spend now.
(NOTE: It is also available in printed form)
Click Here To Find
Out More
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4)
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I'll talk to you again soon.
Your Friend,
Joe Crump
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