How To Read A Motivated Seller’s Mind
In real estate investing, the profit you make is often on the purchase of the property rather than the sale. That means, the more you can get a property for a below-market price, the more profit you build in on the front end. That’s why real estate investors look for motivated sellers and make below market offers to them.
To help you work with motivated sellers, I want to share with you about the four things that motivated sellers are thinking about. Knowing these five things will give you an unfair advantage in working with them, turning you into their knight in shining armor and making them WANT to do the deal with you.
The first thing that a motivated seller wants is support. They’re motivated for a reason – usually some kind of financial or personal reason that is forcing them to sell the property (such as a foreclosure or probate or a frustrating tenant problem). This reason has them feeling isolated and alone like they have nowhere else to turn. Show them that you support them by demonstrating empathy toward their difficult situation and assurance that you are there to help them.
The second thing that a motivated seller wants is credibility… specifically, they want to put their trust in someone and they want the assurance that they should put their trust in you. Assure them of their wise decision by being a credible, professional buyer. Demonstrate that you have their best interest at heart. Empathy and rapport will go a long way to helping you establish credibility.
#3. End the current headache
The third thing that a motivated seller wants is to end their current headache. The hassle and frustration of whatever their situation is, is haunting them day-and-night. When you understand this, and when you show how bad it is and how you can help, you’ll position yourself as someone they’ll want to do a deal with. Their current headache is all-consuming so show them how you plan to address it.
#4. Get on with life
The fourth thing that that a motivated seller wants is to get on with life. They recognize that the current frustration they’re experiencing will be solved but life continues on afterward. Right now, their current problem is causing distress (see #3) but also keeping them from moving forward. Demonstrate how you’ll help them, not only by ending their headache but by freeing them up from this burden so they can move on.
The fourth thing that a motivated seller wants is action. Sometimes they don’t know what action to take, and sometimes they take the wrong action, and sometimes they procrastinate. But ultimately they want action and you need to show them how you can help them take the right action. Show them how you can help them do it quickly, efficiently, and with less pain than any other choice.
Motivated sellers are in distress. As an investor, you’ll do way more deals with motivated sellers when you swoop in like a caped superhero and demonstrate to them how you’ll fulfill these 5 needs they have. Address these five mindsets of your motivated sellers and you’ll amp up the number of deals you’ll do! For an easier way to locate motivated sellers, learn more about our Find Motivated Sellers Now System – the only available source of property owners who are sitting on high equity (or free & clear) houses that are VACANT.