100 Day Challenge

A Deal A Week

Elaine Stucy

02.09.09 Thanks for the information on your listing. To be upfront with you, my usual method of buying is that I do all the legwork and then I have a friend who is an agent who writes up the deal.

Nice friendly guy, he called for information on your listing, but doesn't want you to show him the property.

How do you find the opportunity here?

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I appreciate your candor, that is the way I do business too.

It sounds like you have bought a lot of real estate, are you an investor?

--yes.

I understand that you do all the legwork -- how do you go about finding opportunities?

--online, MLS.

If I were to present you with a great deal that was not publicly available would you be willing to work with me on that purchase?

(then go wide, friends, family, work, etc.)

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yes yes Karen! If you actully present an opportunity or 2 rather than say "if" it will have a different effect. You will find out right then if he will work with you.

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Good question Elaine, how do you find the opportunity in this scenario?
1st, in this scenario it is as if I ask a buyer-prospect whenever I meet one, "are you working with anyone". Depending on the reply I'll know if I have a prospect to pursue or not. I usually do not push or try to pry away a potential buyer prospect from their agent. So in this scenario, this buyer-prospect is being up front and is straight-up telling me, " I'm working with an agent". So for me, I'm gonna listen to that, respect that, and move on a different tack. For me, this buyer-prospect is hands off, after all, this is the kind of buyer loyalty I'm looking for to trust in my buyer clients that when they go out in the field on there own, and that they be loyal to me...,In that spirit and in this senerio, I find and am not looking to create something from nothing... but... I will ask them, none the less, is there anything I could do that will allow me to help you find and buy the home you want, in the area and condition you want, at the price you want to pay, beginning with this property???
2nd Now that I know I have a buyer who has an agent, I explain the listing I have that they called on is buy appointment only on the express desire of my client and further more, I need to ask several questions on their behalf to qualify the showing. (After all, my time is important to me, and my client really wants to show their home to qualified buyers only...if they like and want the house bad enough, they will answer a few simple questions.
1) Why are you moving and where from
2) When do you have to buy a home by.
3) Are you an all cash buyer and can you verify funds, if not have you been preapproved for an amount sufficient to buy this home.
4) How much will you put down on the home.
5) How short of an escrow will you need.
6) What else would you like to share with me about what you want and need that I could tell my client to have them be interested in showing you this home to buy???

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I understand. What is it you are looking for?
.....
Great. When I know that property is going to come on the market, but hasn't yet, what would you like me to do?
(I want you to call me....)
Ok. Will you be working with your friend, or will you be working with me to purchase that property?
(ummmmm.....I don't know....)
Ok. Well, just as I respect your working with your friend, I am sure you can respect that I work first with clients who are committed to having me represent them - they will be the first people I call when I come across a great deal.
So, in terms of our relationship, I am totally fine either way - I just need to know upfront if you will be working with your friend or are you open to working with me on great deals that I find for you?

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Agent: So can you tell me a time that would work for you when you would like to look at the house?

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I wish you well. What are the "usual" things you are looking for in a property?

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If I came across a screaming deal not yet available to the general public, are you open to working with me on the property that I present to you?

-No

Thats fine. I appreciate your truthfulness and your loyalty to your agent. I make it my business to only work with people are committed to workiing exclusively with me.

Who do you know that may be in the market and wanting a great value in today's market?

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How has this strategy worked for you in the past?

I'm curious, what benefit do you get from this strategy?

Are you convinced this strategy will provide the greatest benefit to you? Why/why not?

What would have to exist in a property for you to make an offer today? Are you capable of doing so if you were presented with the right property?

If I come across a property that I think would be ideal for you, what should I do?

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Why do you prefer to do things that way?

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I can appreciate that. As a professional, I make it my business to only work with people who only work with me. I'm sure your friend appreciates your loyalty.

However, I wouldn't be worth my salt if I didn't ask, do you know of anyone else who mght be looking for a smoking deal like this one? I believe this is a property which will be sold quickly. If it is not a fit for you, I am on a mission to find the perfect buyer for it asap. Got any suggestions?

Thanks for you time and input!

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I understand. Thanks for being upfront. However, if I brought you an outstanding deal that you didn't already know about, would you be open to buying the home from me?

Well, let me tell you about the propportunity that I am excited about...

I understand - not for you. Cool. Who do you know that might love to scoop this deal?

BTW, when you do get that home you're looking for, are you selling yours? How will that work?

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Why do you think this strategy would get you the best Popportunity?

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FREDIAN THEORY....

Commitment is measured by action.

Who will do what.... when?

Are you talking to people in terms of benefit (opportunity)?

Enlightenment is being free of self-limitation.

"I like to find out what people think."

You don't vend a propportunity™ to sell that specific property, although that is a possibility. You vend opportunity to find out what people will do.

Every day you need to watch from falling into the trap of thinking, "Tomorrow things will work out."

Measure your success by what you do today.

One definition of success is... taking appropriate action.

The goal is to find out what you don't know vs. judging what you think you know. This is what it means to be "open".

Things don't get done because they don't get done today.

Great is being great today.

Your career, your year, won't come together until you break it down into the unit of today.

What are you pushing away, distraction or deals?

The practice of being in the hunt leads to production on a regular basis.

Begin each day "on purpose". Clear, connected, open, and READI.

Your decisions define who you are.

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