Speaking With A Hard-To-Understand Seller FSBO

In this article we will discuss the objections and possible strategies to implement when you find yourself speaking with a hard-to-understand seller of real estate.

The end result of every real estate endeavor you perform is to make yourself a profit. The output (action, diligence, marketing, appointments, offers made, etc) we put forth daily is simply the necessary work needed to close every deal; and as we all know – every deal is slightly different. Use the strategies and techniques below to help communicate your message of intent to each seller about purchasing his/her property.
Identify the challenge: What languages are you running into when you are calling sellers?
Ask for a close relative: Many sellers that may not have a good grasp of the local language may have a local relative (sibling, child, grandchild, or parent) nearby or living with them to translate. Use the sentence below to ask a Spanish speaking seller if there is anyone nearby that speaks English (or visa-versa in some areas). This is just one popular example of this translation.
Spanish to English: Is there anyone nearby that speaks English?
English to Spanish: Hay alguien cercano que habla Ingles?
Hire an hourly translator: Hire a translator (either that you know, a multilingual friend, from Craigslist, etc.) that speaks the language you require and works per minute or hourly. Ideally you will be able to call this person most hours of the daytime via 3-way phone conversation if needed.
Once you identify a needed translation simply forward the seller’s phone number and any available info to your translator. The translator should be prepped to gather data on behalf of your investment company. During this call between the seller and your hired translator you should identify the seller’s asking price, reason for selling, park info, loan info, home info, and if willing to accept monthly payments for their asking price (if applicable). Based on these answers you can have your translator set an appointment for you to come see the home and seller.
For a face-to-face meeting the seller should have a family translator present. Wait to set an appointment for a few days away if needed for a seller to secure a family member translator that is available. Family translators are always the best for intimate settings.
Plan a partner: Network to find a local investor that speaks the language you need from a translator. Negotiate with him/her to begin partnering with you on deals that require his/her linguistical-expertise. For example, if the market population is Hispanic, have this investor teach you in Spanish to say, “Hello my name is _________.  My Spanish speaking partner will call you back soon. Thank you and goodbye.”
Speak in basic chunks: If the seller does understand a moderate or minimal amount of your language then proceed to get the basic information of their home over the phone.  Ask “few worded” questions such as;
Repairs?
Age?
How much is monthly payment to park?
Location or Name of Park?
Asking price?
Will you accept payments?
Speak with Intent: If you can have a full (crystal clear) conversation with a seller than feel free to doddle and make chit-chat; however when you are speaking directly with a seller that can only moderately (or less than moderately) understand you be brief and be ready to set an appointment to “make a deal ” or “pass.”
Make sure to treat every seller with respect. Sellers of every language are saying to the world that they want to speak with folks that can solve their housing/property problems. Do the extra work to speak with these sellers, create the deal and make this win-win transaction happen to create profit. If you are willing to do more than the “average investor” you’ll likely have different results than the “average investor.” – Get it!
Do what you love daily,
John Fedro

Continued here: Speaking With A Hard-To-Understand Seller FSBO

Tennessee Real Estate Deals

This entry was posted on Thursday, October 18th, 2012 at 4:22 pm. and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.