Jill Friday – Real Relationship You Need to Establish with Your Seller (LA 1772)
Jill Friday – Real Relationship You Need to Establish with Your Seller (LA 1772)
Transcript:
Jack: Steven Jill here. Welcome to the Land Academy Show, entertaining land investment talk. I’m Steven [inaudible]
Jill : And I’m Jill Dewitt broadcasting from the valley of the sun.
Jack: Today’s Jill Friday. She’s going to talk about the relationship you need to establish with your seller to get a deal done.
Jill : Thank you.
Jack: 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. I’ll tell you what, back in the day, it was impossible to find a piece of real estate that has yet to be assigned a mailing address, like 123 Main Street. To solve this, we have created and enabled a live database so you can look it up by APN or assessor parcels number. It is called neighbor scoop and soon to be parcelfact.com. Check us out neighborsgroup.com or parcelfact.com. You can find property in seconds.
Jill : I would open up my computer all day long. It’s the best thing ever. How we ever got by without it? I don’t know. Aaron wrote “Hi all. So my first mailer is slowly starting to yield some phone calls that aren’t hate. I want to ask the group, the script you guys have on the first time call. I know Jill has questions, has a questions list for new calls, but I’m talking a bit more about building some rapport with the seller. Like I have been getting asked, what do you do? Or why do you want the property? Or what are you going to do with the property? This is what I’m telling people so far. I’m a convenience buyer.” That’s good. I like that. “I provide liquidity to landowners who would like to sell their land relatively quickly. The average age of market for land in America is 235 days.” Well, I didn’t know that.
Jack: This is a great speech.
Jill : This is really cool. “So, basically two thirds of a year, or you can sell it to me. I do some quick due diligence and I can get you a fast, close price. So, I’d like to possibly send assemble more properties like yours and sell them all to one investor who wants the acreage. Or I may develop the property myself, make a subdivision who knows? Can I get some other ideas on what you all do? Is your intro on the call?”
Jack: I’m going to interject. This is pretty good. Well, this is your, the topic.
Jill : I know you want to just jump in?
Jack: Today’s topic, It’s Jill Friday. She’s going to talk about the real relationship you need to establish with your seller to get a deal done. This is the meat of the show.
Jill : This is a perfect little intro because I have a checklist when you answer the phone of the questions to ask them. But some people are having other people ask, answer the phone and they don’t have time to do a whole little checklist. Just get the beef, the juice there. And you don’t have a lot of time when these people call in to win them over. So, that’s the first thing. People are concerned about this, because it’s a big deal. It is a big deal. You spend so much time pricing these offers getting them out there in these people’s hands. These sellers, these owners, they don’t even know their sellers yet, they’re owners. They open up your letter and they call you back. First thing we want to do is calm them down, find out if they want to sell, get the property info, see if our number works or what is their number.
That’s the gist of it. It’s easy to write a script I’m actually working on and I have written script and I have shared those within land academy and it’s always tweaking a little bit. I love people. The best thing you can do is take my script and tweak it for whatever makes sense to you. I think that’s great. Don’t worry too much if it’s not you answering the phone, some people have the luxury of their wife, like on Wednesday with the [inaudible], she can answer the phone. I know other people that do it. We did. I answered the phone and then it, but there’s times that you have to remove yourself.
You’re too busy. You need to be doing other things. Don’t worry too much about someone else answering the phone. You just need to make sure you arm them with the right questions, and they know what they’re kind of know what they’re doing and what’s coming at them. They have the right personality. Could you imagine if I had my dad or your dad answering the phone? That would never work. You can’t do that. Don’t ask your retired father to answer the phone. Your dad would all go to voicemail and your dad would say I’m out after three calls. That won’t work. That’s why you, it’s good to have either you or a professional service because that’s what they do. They do screen people and I am working on creating that.
It’s going to happen this year. The timing, we’re not sure about. So, Jill Live is in the works. The first thing, you have to establish this relationship with the seller, so I just talked about whether it’s you or somebody else, it’s going to be okay. Here’s why. You arm them with the right question, either, you asked the right questions initially, or they asked the vice Christians and then it gets to you. I’m going to talk about the latter because that’s normally what people are doing. Most people have a call service answering these questions and then it gets to them. I want you to be quick on this. You need to get back to these people. Don’t wait a week, don’t wait two weeks. You need to be responsive and fast and call them like “hey”. Usually it’s at the end of the day and have, you should have a scheduled time, like the next day that you’re calling these people back.
Now, they’re really hearing from you and they love this. This is part of this relationship that you’re establishing with this owner soon to be seller, hopefully to you. That’s the goal here. “Hi, I know you talked to my team.” You don’t have to say the name even. That’s all they care about. “Hey, I know you talked to my team yesterday about this property that I want to buy from you. I have some questions. I got this, this and this. Can you tell me a little more about the taxes? Where do you stand on that? Can you tell me about, I was looking it up on the map. I have some questions about access, whatever it is.” And as you’re calling them back, you’re going to build a rapport with them. You’ve done some homework already when you call them back the next day you caught them off guard.
Even if they were mad, they don’t have time to be mad now, and you can really start to talk with them my third point, and I’m going to have you, I’m kind of going through the points here, giving you a little bit of a what I mean by that. Then, I’m going to let you ask me some questions. My third thing is you need to befriend them. You need to be transparent with them. You need to be honest. The question that was posed to us earlier on this show was perfect. I liked his answer. Hey, I’m not going to lie to you. I don’t want you to do this. Don’t lie to him and say, oh, I’m moving there. That’s not nice. And that’s not good.
You want to say, “look, yeah, I’m a buyer. I got a bunch of different people too that are looking for property in the area I do this quick. This is my business. I’ve been doing it for years or I’ve been doing it for five minutes”, either way. You know, you can be honest about it. Like I’m new to this business. “I love land”. When people hear that, they’re like, “oh, okay, that’s good”. Because you do, because if you’re in our world, you got to love it, because we’re a little kooky people don’t get us. We’re not kooky, but we’re a pretty nichey community. I do love land by the way. I love it. There’s so many properties that I do want to keep and we can’t do that anyway. So please ask me some questions.
Jack: A couple comments before I ask you, number one, you’re not going to trick anyone into selling your land. You know, in fact you just have to be completely honest about everything. I’m a land reseller in the area. I love land in west Texas or wherever the property is. Jill’s right. I personally, the question that happened at the beginning of the episode here, that’s just too much. I’m not a big fan of explaining. I think that, in fact that’s how I write. I write big, long, huge things. I condense it down into three sentences and the sentences for me would be I’m I’m a land reseller and buying a bunch of properties in the area
Jill : And I love yours.
Jack: Yours is great or it seems like it’s great. You know, if you’re interested in just getting it out of your life, I’d be happy to do that for you.
Jill : Less is more definitely this in that situation.
Jack: My question to you, Jill, is it intentional that you’re establishing trust with these people? Do you intentionally do it? Because that is the result. You know that, right?
Jill : Yes. Here’s how I do it. Whether I’m talking to a seller or I’m talking to a buyer, I’m trying to see if we’re a good fit. `I am very honest with whatever it is. If I really have problems with the property, for example, like here’s how I establish trust couple ways. Number one is I follow through with what I say. Hey, it’s going to take me 24 hours actually, you know what, I’m, it’s going to take me a little more than 24 hours. What are you doing? Can I call you on Tuesday?
Jack: Tuesday at three.
Jill : Exactly, and what time is best for you kind of thing. You know? And if, and then work around them, kind of thing. Follow through. I’m really clear and honest about that. Trying to think what else.
Jack: You know, in its simplest form, what this requires for you to accomplish this. It requires a phone call back. I can’t tell you the number of properties. A number of times Jill and I collectively or individually have called back on a property, and the seller says, I was trying to do a deal with somebody else and they just won’t call me back, so sure. Let’s put it together. A lot of times the offers higher than ours. So, in the simplest form, you have to really call everybody back and you have to enjoy talking on the phone with people. I don’t. Jill does.
Jill : This is I’ll end it on this because it’s Friday.
Jack: This topic is one of our most popular topics right now. Hey Jill, how do you do this?
Jill : One of the ways that I want to say is you have to, like you say enjoying it, here’s one of the ways that I enjoy it. I think of this person, like they’re my mom, like they’re my dad, like, they’re my grandparent, like they’re my brother, whoever it is. I think of them like that, and how would I want them to be spoken to in their questions answered. Especially, people like so many times, this is a common thing, you’re new to this business and these calls are coming in and you don’t want to sound like you don’t know anything and people get afraid.
Guess what? You’d be surprised, but you know more than they do. You need to kind of, don’t worry about that. Chill out about it. Then especially what I’ve, I want to make sure you don’t do, cause I’ve seen people do this. Take this air of authority, too. Now that you know that doesn’t put you up here and them down there, cause that’s the fastest way to not get a deal done. If you say, “Hey, look, I know this area, like the back of my hand and this is all it’s worth this is all you’re going to get”. Could you imagine? That’s all I’m doing? Sign it and set it in.
Jack: You’re going to have a very short career. Anything by the way, and that’s not how you manage people either.
Jill : You need to listen to them. And they’re like, I know, and I know you’re talking to me about the guy down the street and I looked at that property and did you know that it has a barn and it has two wells and it’s being farmed right now. So, you can see why there’s a little bit of a difference in what I would pay for that property and what I would pay for the one you have. That’s just why, okay. Now I get it and you’re nice about it. You don’t have to be snotty about it. You have minutes. What you really need to remember is you have to come out of the gate with a good attitude and get it across. That’s your tone and how you talk to them and how you listen and all of those things. I think that’s good. Do you want me to add any more?
Jack: She’s a natural at this and she’s actually, in my opinion, a natural teacher to teach how to do it. It’s very unusual. I urge you to self-assess. Urge you, especially if you’re not Atlantic academy member yet, assess your skills. You might be a Jack, you might be a Jill. You might be a little bit of both. I can do Jill’s job. I’m not as good at it, but I’ve done it. I did it. And put food on the table for a lot of years. And now we have a lot more food on the table because of Jill. So you really need to assess what, what you want to do and what you want. If you’re not a phone person like me, it’s only a matter of time before you give up and you stop returning those calls. So, you need to really have a honest conversation with yourself.
Jill : If you can’t find it in you to get there and you just, you’re losing deals, get a partner. Even if you have pat live can have it on this, see you Pat Live or Jill Live, somebody answering your phones, and then the person who calls them back is your business partner, but you’re behind the scenes doing all the other stuff that’s [inaudible]
Jack: That’s what Jason Zero is from yesterday. I knew I didn’t like it back when I was doing it. Probably subconsciously we got together and started working together because I’m watching you do it saying I don’t have to do this anymore.
Jill : The best, some of the best stories I have of people that do this phenomenally well, just have this calm self-confidence and know that whatever they don’t know, they can say, you know what? I’ll find out, and they’re just fun, happy people and people want to be around them and they want to talk to them and then they kill it. That’s the best. So, if that’s you, by the way, you’re in the right place. That’s what you should be doing.
Jack: You can find a Jack, anywhere, if you’re a Jill.
Jill : Thank you. Happy you could join us today. Five days a week, you could find us here on the Land Academy Show.
Jack: Join us next week for another interesting episode, you are not alone in your real estate ambition.
Jill : This was a good week.
Jack: It was…
Jill : Was a good week of shows, we actually had a lot of, some weeks, you may or may not know this, but some weeks I get off the podcast and I go, did we answer the question? Or I like, I self-assess myself. And I go, did I get my point across? Do I think I made sense? And not always do I feel like I got it across, like I wanted to, but I think I did this week. I feel really good about our shows this week. I know we’re helping people.
Jack: Me too. Good work, Jill.
Jill : Thank you very much, by the way. It’s here. Happy Friday. I know it’s a holiday weekend. You’re all on your way out having fun. So, don’t forget enrollment is open and there’s a special going on that ends on Monday. I think it’s Monday on the holiday. So don’t, if you want to get in on this, Land Academy`s here and we’re hooking you up.
Jack: We are Jack and Jill information
Jill : And inspiration,
Jack: To buy undervalued property.
If you enjoyed the podcast, please review it in Apple Podcasts . Reviews are incredibly important for rankings on Apple Podcasts. My staff and I read each and every one.
If you have any questions or comments, please feel free to email me directly at steven@BuWit.com.
The BuWit Family of Companies include:
I would like to think it’s entertaining and informative and in the end profitable.
And finally, don’t forget to subscribe to the show on Apple Podcasts.
