3 Ways You Know a Buyer will Buy Your Property (LA 1012)
Steven Butala: Steve & Jill here.
Jill DeWit: Hi.
Steven Butala: Welcome to the Land Academy show, entertaining land investment talk. I’m Steven Jack Butala.
Jill DeWit: And I’m Jill DeWit broadcasting from Sunny Southern California.
Steven Butala: Today, Jill and I talk about the three ways you know a buyer will buy your property, what do they do? What do they say? Do they laugh at you?
Jill DeWit: That’s not one of them.
Steven Butala: Do they call you a name? No, it’s none of that stuff. They have a chequebook in their hand. I’ll tell you that.
Jill DeWit: I’ll tell you what, that you know what? I’ll tell you what it’s not. It’s not a tire kicker. When they start asking a million questions and they’re ridiculous questions that are already in the posting. That’s a tire kicker. That’s not one of them. But in a minute, I’ll tell you the right way.
Steven Butala: I’ve been a real estate acquisition expert in some capacity my whole adult life, and I take that very seriously. I take real estate sales with a grain of salt and a dash of cynicism. That’s right. This is the Jill show today.
Jill DeWit: Wow. Oh my goodness.
Steven Butala: Before we get into it, let’s take a question posted by one of our members on the landinvestors.com online community, it’s free.
Jill DeWit: A grain of salt and a dash of cynicism, I’m going to remember that one.
Steven Butala: I just made that up.
Jill DeWit: That’s very good.
Steven Butala: It’s an original Stevens.
Jill DeWit: I love it. All right, Jeff asked, how do you handle the Mexican standoff Wooden Pine property? He put that in quotes. I just bought my first two parcels and I had a mobile notary hand over the check when the deed was signed. This made sense to me because there’s a trade happening on the spot. However, when I’m selling land, hopefully soon, do I trust the buyer with the signed deed or do they trust me with their money? I just think the sign Purchase Agreement first, and this document creates the trust for the rest of the transaction. Do they send the cashiers cheque first and then I send the deed Do you want me to go?
Steven Butala: Yes. Please, you’re an expert at this. This is a very good question and it’s not an uncommon one.
Jill DeWit: Oh yeah. It’s interesting and I’m wondering why Jeff is second guessing himself, because you should be walking around knowing that you have this item for sale. When they buy it, they pay for it. No questions asked whether it’s a checkout online with their credit card, they send you a cashier’s cheque money, order wire the money because it’s so big, whatever it is. That’s just how it goes, and then you do complete the deed. Why do they feel so good about you? Where’s this? Why am I not hesitating? Because they can look you up. You have a track record, you’re transparent, all your social media and your website all go point in the same direction. You know that you are a seller of property, and there’s nothing to think about. It’d be like, I don’t question other things online. I’m trying to think of good example.
Jill DeWit: But we’re online nowadays we’re online buying things all day long and I don’t question it. I get in a car and drive to a restaurant trusting they’re going to be there. Because I see it, seriously. Because I see their online presence. I see them on Yelp, I see their website, I see a map, I trust that they’re there. It’s the same thing for you.
Steven Butala: We’ve been buying stuff online, since there has been an online, and it shocks me to this day that we are freely online typing in our credit card number and then we just wait to get stuff in the mail. It still amazes me, the softener or the equalizer is rating this rating system that we have of stars and feedback and others customers ratings and all that stuff.
Jill DeWit: Transaction history.
Steven Butala: Yeah, transaction history. So, it’s a lot less difficult for people to give you their credit card number to buy a piece of real estate than you think they’ve already bought everything online constantly. So this is a good question and it’s one that I was very concerned about in the late 90s when we started to sell land online. Like a lot of things, it just became a non issue. We did after the first five or 10 deals, I’m like, I don’t have to worry about that cheque.
Jill DeWit: Yeah. You know what else too, I’ve seen a lot of our newer members use us as a fallback and refer to us in their transactions that they are Atlanta Academy member. We have a thing on our website that’s Land Academy certified, if you want to put on your website, and that actually believe or not, when people look you up, and then they can track you to us. It’s like, oh, okay. I haven’t heard a long time but, early on, I had a lot of buyers coming to me saying, hey, do you know this guy? Is he legit? Should I buy from him? Or should I sell to them? And I would say, yes. So and I can confirm it for them so that makes a difference too. Use us to help you build up your transaction history, I should say until you have your own.
Steven Butala: Today’s topic, three ways you know a buyer will buy your property. This is the meat of the show. So you’re on the phone, and somebody called in, or they wrote you an email. And they say, I’m really interested in this 40 acres that you have up in Northern Arizona or in Massachusetts or wherever, I just have a few questions. And what they ask after that, this is a preface to Jill’s going to really answer this question. What they do and say after that in the next 30 seconds, you know exactly if they’re going to buy the property.
Jill DeWit: So that’s my example number one of the three ways you know, they are serious questions, and they are questions that let you know that they read the whole posting forward, backwards, upside down every way. And they’re only calling you to ask one last one or two serious good question before they make their decision to purchase and that’s a good one. If they call you and go, so, what about taxes, or are there any back taxes? Or where is this again? Something really vague and weird like that, they’re not serious. They don’t even really remember where the property is and they didn’t even read to find out what the tax situation is. Or something, how close is it to the road? Well, if you look at the map, look at it together, it’s right on the road kind of thing, there it is. Oh, yeah now I see it. So let me ask, those kinds of things.
Jill DeWit: So that’s the not serious, but the serious one, like I alluded to, is the one that says, “Hi, I just want to know, if you talk to the county about this shack, because I bought to make that call, and I want to know, if you asked, if you ever done a survey on it?” Done, you know they’re serious, they’re just doing the last few due diligence things. So, that’s one. The second one, is the real obvious one where I love these. “Hi, I just want to know if you, because it’s such a large transaction, do you want me to use this credit card checkout thing or do you just want me to wire you the money?” Because if we’re talking $25,000 I’m being respectful and if you want to pay that credit card fees, I get it. No big deal.
Steven Butala: That’s my number one.
Jill DeWit: I know.
Steven Butala: That’s the best indicator possible.
Jill DeWit: That is the best.
Steven Butala: For, “Hey can you hold on to the property, I got to move some money around from my retirement account and do some tech stuff but in two days I’ll check out?”
Jill DeWit: I’m going to do it online.
Steven Butala: “Do you have a wiring number where I can send that?”
Jill DeWit: Exactly. So that’s the other obvious. Then the third obvious, which is, you have to learn this town little bit. But you have to listen for, if you listen for what they’re called buying signals. And that’s when you know too. This is where people that they use themselves, they already see themselves on the property, and you can hear it in their voice.
Steven Butala: Like mating signals.
Jill DeWit: Not like mating signals. Maybe like mating signals.
Steven Butala: Men are experts mating signals.
Jill DeWit: Okay. Do you want to explain it and then I’ll explain it?
Steven Butala: You go first.
Jill DeWit: Okay. Because I do want to hear what you have to say about this, all right. So what I mean by buying signals not mating signals, buying signals are things like, I can already see the view or they say my view or something like that. So, where would I? How would I access my property? Tell me more about… They say things like, my river, my view how I’m going to do this, how I’m going to use it, like, where would I? Can I park my camper here? I saw this pad, I want to add this. You can already hear they’re already using it, living on it, loving it, and taking ownership basically. So that’s my… It’s little over subtle and that’s the part where you have to really listen for it. And if you don’t, you might miss it. This is a tough one because I’ve heard people not pick up on these signals and turn people off.
Steven Butala: Yeah, sure. I’ve been one of them. That’s the difference between a professional and somebody like me.
Jill DeWit: You’re good, you’re fine, but I just know how to listen to it and how to get it. So I want to hear now go back to your… Tell me your mating signal.
Steven Butala: We’ll get to that in a second. I’ll tell you where it goes south for me. We have a good fortune to have a sales team now so Jill and I don’t do much of this ourselves. But once in a while we still, I always do the data part. But she only comes gets involved in the sales when there’s trouble so when some… I have this test in life, it’s not just with sales or anything, but when it becomes a personal story outside of your tight little friendship group. For instance, when somebody says, will, my 79 vega make it to the property day in and day out because I planning on working in the town that’s six towns over. That’s a personal or will my mother in law be comfortable there?
Jill DeWit: And let me tell you about her, Edna oh my gosh, she’s almost 90. And just the other day when I was driving to the doctor’s office, that will happen.
Steven Butala: So I call that a personal story.
Jill DeWit: That’s where we lose Steven.
Steven Butala: I mean, by the way, if you’re prospecting for women, and they start into a personal story like that, just say, thanks very much. Pick up the tab and walk out of there. Trust me.
Jill DeWit: What?
Steven Butala: Yep.
Jill DeWit: Really?
Steven Butala: Yeah a personal story like that. It’s just becomes this me, me, me, thing and you need to understand me for who I am.
Jill DeWit: Oh, you mean early on in the relationship?
Steven Butala: Well, yeah, like the first day, first or second day? Oh, no, once you’re this far into the relationship it just, everything’s a personal story.
Jill DeWit: Hey, very funny.
Steven Butala: The antithesis.
Jill DeWit: By the way, though, I don’t share a lot of those stories you don’t know a lot about my mom and you’re welcome.
Steven Butala: That’s so awesome, you’re the praise girl for that.
Jill DeWit: Thank you. Yeah we’ve talked three times so.
Steven Butala: Thank you enough for that.
Jill DeWit: You’re welcome.
Steven Butala: If somebody is making that big huge deal out of themselves and telling these huge multiples back to back personal stories to the point where it’s almost venting. Venting or bragging or anything like that, just run that’s not a mating signal. Bet not involved.
Jill DeWit: That’s true, that’s totally different. I’m not sure how this pertains to this, but I like your story.
Steven Butala: Because the same thing happens very often. People are interested in buying real estate and they’re not.
Jill DeWit: Oh, yeah.
Steven Butala: That’s one of the real estate agents have to deal with this all the time. To deal with prospective buyers walking into a house saying this carpet scheme doesn’t work for me.
Jill DeWit: I can do and we need to talk about it and talk about what are some other wallpaper options?
Steven Butala: I had this color of carpet when I was a kid and in sixth grade, my brother Joe spilled some cereal and we got grounded for a week. They’re not going to buy the house.
Jill DeWit: What year did they put this here?
Steven Butala: Your times more valuable.
Jill DeWit: What were the other color choices at that time?
Steven Butala: Your time is more valuable than that. Jill and I started this segment of our careers together. I had this is true, she’s probably going kick me under the desk, but I’m just going to tell the truth. I really had to sit her down and say, “Look, you can’t spend two hours on the phone with the seller.”
Jill DeWit: That’s true.
Steven Butala: I mean, I’m sorry, with a buyer. The seller is always like 10 second thing, because we crafted it that way. We’ve sent, we’ve honed it down to how we send these mailers out is very effective and consistent. But when you get a buyer on the phone, after what would you say maybe, three to four.
Jill DeWit: You’re going to learn, you know about five minutes or less.
Steven Butala: Five minutes really? That long?
Jill DeWit: Yeah, or less. That’s what I said or less. Thank you, whether or not they’re serious. Hold on, chill out not everyone’s at the same level here.
Steven Butala: Okay. That’s a good time to move on. We know your time is valuable. Thanks for spending some of it with us today. Join us next time for an episode called, key components of a perfect land listing.
Jill DeWit: We answer your questions plus in our online community landinvestors.com. It is free.
Steven Butala: You are not alone in your real estate ambition. I got to, I have that feeling like I got out of that alive like just in time.
Jill DeWit: Oh, yeah I know where you’re going with that?
Steven Butala: No, I mean, not with the listeners with you.
Jill DeWit: Oh, no, I know. I don’t know where you’re going with that. But I’m proud of you because you haven’t brought up dating, relationships or anything in several weeks. Are you feeling okay?
Steven Butala: Well, mating signals, but yeah.
Jill DeWit: Okay. No, now you brought it up, but you actually haven’t brought it up in a while.
Steven Butala: Oh, that’s probably why our numbers are something right now.
Jill DeWit: Maybe that’s it. You’ve broadened your horizon, you have other examples now, it sounds like you date a lot when it’s just me, but just saying.
Steven Butala: The reason I bring up all this dating stuff is because it’s so horrific.
Jill DeWit: Oh you’re to say.
Steven Butala: It’s not that anybody enjoys it.
Jill DeWit: You’re trying to save people I understand.
Steven Butala: If you enjoy dating, you have to ask yourself some questions.
Jill DeWit: I liked dating.
Steven Butala: I liked it back then too but this is better.
Jill DeWit: I’m still dating you, I like it seriously.
Steven Butala: I only tell the truth is I like dating you.
Jill DeWit: I feel like I’m dating you all the time.
Steven Butala: There’s some reward, there’s always a reward between both of us and their whole social situation with us.
Jill DeWit: Thank you.
Steven Butala: There’s no reward almost ever with dating some girl for a week or two weeks and it’s just always disappointing. And a loss, there’s money loss.
Jill DeWit: That’s true. By the way.
Steven Butala: Probably because I suck at it.
Jill DeWit: You silly, no you don’t, you got me dude, you are the best because you got me.
Steven Butala: That’s true.
Jill DeWit: Hey, just so you know if you want to see us, we have just opened up and announced our 2019 only live event. So check it out at landinvestorslive.com it’s coming in October, it’s going to be awesome.
Steven Butala: It’s the same month every year and this is the second annual event.
Jill DeWit: Exactly first week in October. Wherever you’re watching, wherever you’re listening, please subscribe and rate us there.
Steven Butala: We are Steve & Jill information.
Jill DeWit: Inspiration.
Steven Butala: To buy undervalued property.
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