Gaining Confidence. Any tips?

Study, study, read, network, study, do it, learn, study, study, read, learn, take action, learn, read, study, network and do it, learn.

Michael Mangham
MD home Acquisitions LLC

Good advice! And talk about it to everyone, every chance. And I even had my sister pretended to be someone wanting to sell their home, and had her drill me with questions. It worked..I had to think of answers faster and it gave me more confidence in answering. Still don't know all the answers, but at least it got me more prepared.
Good luck!
Sandi

Call on homes you may not even be interested in just to get the experience and build up your confidence on handling the phone calls. That alone will build your confidence tremendously.

When I make calls, I have a questionairre form right in front of me that helps to guide me on questions to ask, and responses to give for certain situations, such as an unmotivated seller, I have them write down my email, number and web address or give them the link to one of my videos and ask them to call me if anything changes. Then I have to remember to follow up in a few months with them. I also call to get feedback on my performance, and ask customer that things didn't work out if there was anything else I could have done to earn their business. Feedback is a good way to learn and fix mistakes I may not even have been aware of. Many times, though, their answer of what I could have done isn't something I could have done at all. (Pay full price without any kind of seller financing all cash, for instance).

Keep on going, make mistakes, learn from them, and do better next time. That will build confidence!

Thank you all. I really like the idea of making contact with the sellers. I believe it will speed the learning process. For it to become 2nd nature I have to get my reps. Thanks again!

Keep your pace and your confidence will go threw the roof. You'll know when you hit that peak when you already know the answers to your questions before the sellers even answer them. It will be so natural you'll think to yourself, how come I didn't do this five years ago!
Jeremy K.

Thanks. My call list is complete for tomorrow. Looking forward to putting your advice to use.

Read Michael's tip again and again. He hit it right on the head...Jan

Instead of sweet talking a woman trying to get a date, you're sweet talking a seller offering your services.

There's no real way to do other than to sound like you know what you're talking about and putting the person(s) at ease. Remember, they're entrusting you with their biggest investment.

A good way to start would be to play call with someone over the phone or in front of you and have them run intereference as acting like a client who is apprehensive and you finding ways to convince them otherwise; trying to do it on the fly could kill a potential client who would have been.

Come prepared the first time.

Also, before you call on a home, do some research ahead of time on it so even though you are breaking the ice by asking simple questions about the house, you already have the basic knowledge about the house in front of you.

Most important thing to do while you're on the phone? LISTEN. Find out their motivation and work around the motivation if there is one. Seller's reveal a lot when you let them talk.

you do it enough, you will gain confidence.

Some of my marketing has brought some conventional buyers. I'm really looking for cash buyers but I'm sure there is a strategy to help others. Any suggestions? Maybe referrals?

Use your retail buyers for IEE contracts or maybe refer them to a rehabber for a portion of profits. I have several rehabbers that I am wholesaling too that I also refer buyers for even more cash... See what you can work out and be creative in what you do. As far as everyone elses advice, USE IT!

you already have half the battle done by building your buyers list now the calls are similiar. you can do it, it sounds like your off to a great start. we had an instructor that said "if you're not embarresed by your offer you went too high". I know that's a tough thing to do but if you go into the situations as a win win win then it will work out for the best. keep the faith

The hardest part of breaking through is in front of you right now and that is calling motivated sellers. Sometimes the easiest way to get past that fear is having them call you. In order to have them call you, you will need to do a little marketing. The easiest way to get your phone ringing is to just throw out some bandit signs that say "We Buy Houses" with your phone # on it. If you put out about 30 signs in a particular area you can definitely expect your phone to blow up. Don't worry about the sign police, if it's your first time you will just get a warning and they may ask you to pull the signs down. Your best bet is to do it over the weekend. Put them out on Friday night and take them down on Sunday night (or just leave them out to get more calls). Once you get past the fear of talking to the sellers, you are well on your way!

We've all been there. I use to get so nervous, I would literally be sick to my stomach. I made a call to the SA and one of the coaches said...."You are making it way harder than it is, Just Do It. What are they going to do....you are trying to help them"! I realized I was building it up WAY to much in my mind. I do know...ACTION CURES FEAR!!!

For me with buyers...as Tammy said in her post LISTEN! Stay in control of the conversation by asking questions that will lead to elabortion. Get the basics of course, but inquire about some of the last deals he's done. Most people love to rave about themselves and their success. lol You'll get some 'gold nuggets' if you pay attention. Then go out and look to beat it.

Your marketing is working, you are getting the calls. Honestly, a 'serious' buyer will know what he wants and even if he picks up on any lack of experience from your conversation, if you set the tone of meeting his needs and doing the leg work, etc to locate properties that meet his criteria, they are more likely to overlook. At this point most want care, they are looking at it with the 'what can you do for me' mentality at least until you have a good relationship/working repor. Most buyers are looking for someone who will be professional, produce and not waste their time.

The tails will turn when as you continually make call, network, go to REI club meetings, etc. You will pick up in less that 5 min. of the conversations when someone contacts you about birdogging for you and/or someone 'has a great deal' if they experience or not. lol As Jeremy said....I will become like second nature to you.

Get started, don't quit, stay steady and NEVER quit learning!

Good luck,
Jen

Haven't posted in about a month or so.. Just wanted to give an update. I am currently working on my 1st and 2nd deals. I have partnered with a local investor and we are really going after REOs. We have been making multiple offers and have gotten 1 and counters on others. On our way to look at a few and see in we should raise the initial offer. We are looking to keep 1 of every 5 deals and wholesale some to rehabbers and private investors. Exciting stuff. I'll post pics when I get them.

Best,

Adam

Go to as many open houses as you possibly can.

Get to understand different types of houses, features and speaking with different agents doesn't hurt either. This is also a way to screen them to be apart of your 'team'

Networking events I have and will always testify to as perhaps the best way to get to know people and speaking and hearing actual conversations will make you understand and gauge peoples level of experience and get them to get comfortable with you as well.

Great Idea. I'm actually traveling to California for a few events next weekend. A friend of mine is a Loan agent for Wells Fargo and we are going to be doing some networking while I'm out west. I'm still working on it.

can be an investors best friend

Treat them well and they will come through for you

The more you do it the quicker the confidence comes. Like Jen said, don't overthink it, just do it. Role-playing is a great way to gain confidence. Often times just talking through it once or twice will help you get a feel for the flow of how the conversation can go. Have a "cheat-sheet" in front of you with bullet points that you want to be sure to cover or to ask.

Most important....JUST DO IT! Often times people get stuck or hung up trying to make it perfect and end up losing or wasting alot of time worrying about it. Take action - Just do it! You have nothing to lose and everything to gain!