In this lesson, you will discover the ultimate pre-foreclosure scripts; the 5 main quality questions I want you to focus on asking when prospecting pre-foreclosures.
Also, we will cover a power-magical question that other gurus enjoy using but tend not to share with you.
Newark New Jersey 2006; I became one of the highly sought after persons by people on the brinks of foreclosures.
Why? I promise it was all by mistake. But boy… did I discover a secret.
Traditionally in most businesses, we’ve been thought to be aggressive in the spirit of being proactive.
We were told to make a list, call and harass anyone that makes it to the list about our new business venture.
Fast forward to 2006; I discovered attraction marketing and approached finding foreclosure deals accordingly.
I took it a step further by creating those 5 questions to prequalify prospects before engaging my personal time and any resources that matters to me.
Allow me to share these 5 questions with you in a short few minutes.
Also at the end of this video, I will share a power question that changes everything and make you stand out in a very saturated business.
My name is OLA and I am the author of the books
Smart Real Estate Wholesaling…
And Real Estate Money Secrets…
…which you can download for free at www.SmartRealEstateWholesaling.com
So let’s dive right in…
Question #1 – FIRST-NAME?
You obviously need to make sure you are talking to the right person especially if you are the one who initiated a call out to them.
But there is something very unique about simply calling out just the first name as a question as opposed to asking a full sentence such as:
“Are you FIRST-NAME?”
When you frame it as just the “name?”, as a question… it comes off as more familiar and friendly.
But when you ask a full question like “is this FIRST-NAME?”, it, low-key, reveals you as a total stranger to the prospect.
This is very important as this key moment will drive the very necessary rapport you need to build with the prospect.
So when you get on a phone with a prospect for the first time, just go ahead and call out the first name on your record as a question.
Wait patiently for the prospect to confirm that they are the right person before moving on in the conversation.
Question #2 – Calling About 123 MAIN ST…
PREVIOUS POST: 📍 5 Proven Ways To Buy a Foreclosure House
The next line in this conversation is designed to confirm that this same person owns the subject property.
You can imagine that it’s possible for someone to confirm the right name but actually has nothing to do with the ownership of the property.
Another side to that is that they may not be open to confirming ownership of the property.
Either way, they need to be open to confirming and acknowledging the ownership of the subject property.
This is a prerequisite to successfully initiating a mutually beneficial relationship with a prospect.
So the 2nd best and first step after confirming identity by first name is to match the ownership.
Real estate ownership is a big deal in anyone’s life no matter how big or small or how poor or rich the person is.
If they truly own the property, they would want to confirm the knowledge of the property by at least answering…
“What about it?”
Once you hear that in one form or the other, it’s time to move on to the 3rd segment of the script.
To learn more about eliminating non-motivated sellers completely from your process of finding deals, go ahead and download my 2 books…
SMART REAL ESTATE WHOLESALING and
REAL ESTATE MONEY SECRETS
for free at: www.SmartRealEstateWholesaling.com
For a quick start guide, go to www.11DaysChallenge.com to set up a lead pipeline in 11 days.
Question #3 – Wanna Get Rid of It?
In this segment, you are now actively trying to gauge the lead for motivation.
Most likely, you may hear things like…
“Well, I am not giving away the house.”
If you hear that, that’s very normal.
It simply means you are now effectively inside a negotiation with a potential seller.
But it’s time to find out how motivated the seller is. If this seller is motivated, everything else will be easy.
Even if you encounter obstacles, the seller will effectively be on your side to help you through the obstacle.
So asking if they want to get rid of the property is the first level to pique their interest.
And don’t be shocked if a seller actually says yes to getting rid of the property. Many people are in property ownership that represents a liability for them.
In the next video, I will be covering more details on how to screen motivated sellers since they are the true secret to the game of wholesaling and investing in pre-foreclosures.
Question #4 – Why?
Everything that stands the test of storms in life requires a strong purpose. Prospecting a potential foreclosure lead is no different.
It’s very important to identify a strong purpose why the seller wants to sell because that information will become a leverage point in negotiation.
Going through foreclosure is not always the easiest thing in life; probably never easy.
So you may have to help some of these people with their decision making when they sit on a fence.
That becomes a good moment to remind them of the “why” and purpose of selling.
So as the 4th question in the series, simply ask…
“Why do you need to sell?” Then shut up, listen and take notes like your life depends on it.
This is consulting and not selling.
Question #5 – When?
This is the last real information that you need because people usually don’t act without a sense of urgency involved.
So you need to know how soon they need and want to sell. That will also give you an idea of how urgently they need to sell.
This is useful information for you to control the negotiation as it goes along.
Power Question – How May I Help You?
I promised you a power question and that question is “how may I help you?”.
Being able to say that indicates that you are in the driver’s seat of the conversation.
But you can’t say that to a person you just initiated a cold-call out to. Then the real question is how can you position yourself to ask this question?
It’s called attraction marketing and I cover that in detail on my next video.
Conclusion & Main Lesson
HAVE YOU SEEN THIS: More Video on our YouTube Channel
You truly don’t have to go crazy over pre-foreclosure scripts. All you need is to be confident and human with a goal to help someone solve a problem.
It’s one of 4 outcomes. They need to sell, want to sell, don’t want to sell and/or everything in-between.
Don’t over think the conversation… be interesting and be interested in solving problems and the money will come.