Effective Sales Presentation For Real Estate Investors
As a Real Estate Investor, walking into a house for an appointment and delivering an effective sales presentation is high stakes. Building trust with the seller is integral for real estate investors. If you don’t build rapport, why would they be forthcoming with you about all of the details about their house?
These are some of the steps I teach that can help ensure you will get the signature while you are at the house for your first appointment. Who wouldn’t love that?
Tips on Presenting for Real Estate Investors
1. Let Seller Show You Their House
This immediately starts to build credibility and the seller will see that you are truly interested in helping them. Likely, they have an attachment to the house, and so this step can help you begin to examine their motivation level and get important details about the house, like any obvious repairs that need to be made.
2. Show yourself To Be Credible
I always recommend bringing a folder or binder with information about you, your business and why you are the best person to help them in their situation. This can include testimonies from prior clients, the research you have done on their home and neighborhood and anything that will show them that you are a professional and are dedicated to helping them with their situation. Building credibility is important and goes beyond being prepared.
3. Review Their Situation
Once rapport is built, you can get into more detail about the home. You can explore their motivated level, and gather information like how much is owed on the home if they are current on payments, when they want to move out and what type of loan(s) they have.
4. Talk To Them About Their Options
They may be considering selling with a real estate agent. You need to be able to explain to them the extra cost and time it will take to close, versus what you can offer.
5. Agree On The Easy Details
Before agreeing on money, start with the easy items like the move out date.
6. Educate The Seller
When you start to go over the numbers, I suggest using something like the Net Equity Worksheet that I offer in the Foreclosure Investing Mastery course. This walks the seller through how much the house is worth, and what they will be walking away with.
Once the seller is clear on the numbers, you can begin to negotiate.
8. Explain Yourself
At this step, you can go into detail about the method you will be using to buy the house.
9. Purchase & Sale Agreement (PSA)
I recommend NOT taking out the PSA before everything is verbally agreed upon. Taking it out too soon can sometimes turn the seller off.
10. Explain PSA & Get The Signature
Once the seller understands and agrees to the terms of the PSA you can get the signature.
Through all of these steps, the most important aspect is to gain trust and credibility. I always teach my students that each deal must be a win-win for both parties, and this needs to be abundantly clear during your appointments. I teach these methods in my Foreclosure Investing Mastery course, where you can learn to become a successful real estate investor.