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Short Sales and Negotiations
[July 27, 2008] by Broker-Trainer
Filed under: Short Sales and Negotiations

Over my last several posts, I’ve introduced some business starting tips and also the basics of marketing for a preforeclosure based business, one that can produce thousands in profits. I’ve also mentioned what you may already see as an obvious reality, that being the current challenges in working the mortgage business. After all, what are the formal mortgage broker training, attendance at mortgage seminars, and time and effort that you’ve put in doing for you now? There has to be something else in today’s market. As someone who has had mortgage loan training and who I’m sure pays attention to the news and realizes how many foreclosures are out there right now, aren’t you ready to learn how you can effectively market to new clients, profit from the current real estate economy and, in doing so, earn 10 times what you would make for simply originating a loan?

In my discussions with you, I’ve also introduced my system for working this business that works and that works consistently! If you really think about it, a foreclosure investment course (or any real estate investment course for that matter) should focus on giving you repeatable results, not just something that may work for a few select people.

Now, let’s continue this next series of posts, which continues an important series on prescreening preforeclosure sellers. Since we’ve now covered both business basics and marketing, and are now well into this new topic, let’s see where we are at right now.

What is prescreening?

Sales and Negotiation Part I – How you come across

Sales and Negotiation Part II – Information is king

Sales and Negotiation Part III – Persuasion and rejection

Handling objections

Summary- statements that get results

Short Sales and Negotiations

The last of three segments that I will be covering on sales and negotiation skills for working with pre foreclosure properties concerns the power of both being persuasive and handling rejection. The importance of both cannot be overstated! The best salespeople in the world today are fully prepared to hear the word ‘No’ and understand that it is a part of the sales process.

A common reservation that real estate investors have about the idea of selling is that they are afraid of rejection. As much as I’d like to tell you that it will never happen, it just isn’t true. You will be rejected by some sellers and you shouldn’t let it get you down. Some things that will help you in this process are:

Solid belief in your ‘product’ and what you are offering the seller

A good attitude about wanting to really help the seller

Aggressive marketing- the more sellers who respond, the less sting you’ll feel from a seller who says ‘No’.

This week’s lesson really focuses on how to close the deal. When should you close? The better question is ‘When shouldn’t you be closing?’ You should be using closing statements (calls to action) with your seller throughout your interactions with them. The following tips will help you do this more effectively:

Confidence in your product (in this case, a solution) will go a long way towards being persuasive

If you have a good testimonial or personal experience to share, use it. There’s sometimes very little that is as compelling as a story of how someone else did what you’re asking your seller to do.

Make sure all the decision makers are present for appointments or meetings (this is critical when husbands and wives are involved)

Present to them an image of a better tomorrow that exists when they choose to work with you.

A positive attitude is infectious when closing so be sure to use it.

Be a human being and do your best to relate to their situation.

Be persistent but make sure they understand it is for their own interest that you are doing so. After all, it is a pre foreclosure situation and time is of the essence.

Don’t forget that closing and sales in general are skills that can be learned and also take a little time to become comfortable with. The key is to get in the game and practice your approach with live sellers. You can and will get better! Your experience in the mortgage lending business has I’m sure prepared you for working with customers who are either indecisive or just take a little more work so this skill will really help you in this new setting.

I’m sure you can now see how important the sales and negotiation aspect of prescreening will be to your business and also how the overall content of my free foreclosure investment course allows you to follow this business at a pace that matches your lifestyle. Since you are in the mortgage lending business already, the idea of selling and negotiating with clients should be something that you are well on top of, again a huge advantage you have over other investors. The mortgage lending business is intimately tied to real estate and puts you in a great position to profit from the booming preforeclosure market. Please take the time to review the action steps and tips from all of my recent posts and make sure you’ve paid attention because we’re going to move onward and forward and I want you to be in an ideal position to act upon what you are learning. Stay tuned, I have so much more to share with you, and all the best to you in success.

D.C. Fawcett

The Short Sale Expert to Mortgage Brokers

To get a FREE Short Sale Course for Mortgage Brokers, go to: http://homesavers.infusionsoft.com/go/fcfb/foreclos/

Short Sales for Brokers

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