The Titanium Vault hosted by RJ Bates III

Is Tyson Smith A Closer? | The King Closer Reacts

• RJ Bates III and Tyson Smith • Episode 391

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Speaker 1:

Welcome to the King Closer Reacts. Today we're going to be breaking down and finding out is Tyson Smith a closer or not? Now, who is Tyson Smith? He's a successful wholesaler based out of Phoenix, arizona. Him and his dad worked together. Now here's the deal about Tyson. He is my first ever one-on-one student that I ever took on. Now I cannot take credit for all of Tyson's success. He was already an established seven-figure wholesaler when he signed up to be a one-on-one student with me. So he is already established. He already had systems processes. He was already closing deals. I kind of made a few little tweaks and I'm still working with him. We still have quite a few calls together.

Speaker 1:

Now, that being said, as far as Tyson's closing style goes, he has taken some things from me, but he still does some things that I just don't agree with. So I think we're probably going to see. You might have seen a short that I did reacting to tyson, where he did the the whole finance department and I was like what are we doing? Where are we going? So we'll see if he has it in this. I took this off of his youtube channel. He closes this deal in less than 15 minutes. So I'm curious. I think in the four buckets of seller sellers this is probably gonna fall under the bucket of right price and highly motivated. So I'm curious to see how he navigates it, what price he gets it at in comparison to the price of what the seller was asking, how he navigates that negotiation, also how he closes it. But that being said, let's bring up Mr Smith. Let's see, is Tyson Smith a closer?

Speaker 2:

Hello, Hello Elizabeth. Who's calling this is Tyson. I'm calling because you filled out some information on our website about selling this property on College Street. I was calling because it looks like you filled out some information on my website about selling a property on College Street.

Speaker 3:

Oh, yes, yes, In Fulton.

Speaker 2:

Yes.

Speaker 3:

Yes, I am actually. I'm trying. I got it through an inheritance and I'm trying to, you know, get it off my hands so, first things, love how you handled the intro.

Speaker 1:

You know, hey, he's calling a lead with a female name. Female answers the phone. He makes the assumption hey, is elizabeth there, um? And then you built a form on my website saying that you're looking to sell that. Immediately validated yes, I'm still looking to sell that property. I'd love for him to go right into it because she says it's an inherited property. She's just trying to get it off her hands. I'd love for him to roll right into. Awesome. Well, how much are you looking to get for it? Uh, this could be a perfect, closer formula call uh. Let's see where he goes from here.

Speaker 1:

Also, just note the reason why there's so much black on the screen here is because this is something that tyson was doing live on tiktok, um. So that's why it's in the uh formatting that it's in uh. Then he posted it on his youtube um channel. So this is live, uh. So that's why he will every now and then you see him right there reacting. Look at the camera like, hey, we got one here okay, you said that you got this through inheritance yes how long have you had it?

Speaker 3:

uh, well, it's been like I don't know, probably since I was 17 okay, so how old are you now? And then my uncle passed away, like two years ago. I'm 34 now.

Speaker 1:

Okay holy cow. She said this for 17 years. Interesting question there by Tyson. So you got this through Inheritance. How long have you had it? I always want questions to have a purpose behind it. I see how it can be relevant to ask that. It's a little bit awkward there right out of the gates. You see he's also doing a lot of work here with clicking. He's probably pulling this up, doing some comps and underwriting, so this could also just be to get him comfortable in the conversation and see what information he can extract from the seller right now. I would have preferred to have seen you know how well, how much do you want more? Because she said I'm just trying to get it off my hands, jump into price right there and then say, ok, well, how long have you had this? If it's an inheritance, then gone in with that, but I'm sure he'll get price here in a little bit.

Speaker 2:

So is anybody living in the property.

Speaker 3:

No, no one lives on here or anything. It does need a little work before you'd be able to move like somebody would be able to move into it. The floors do need kind of be jacked up, just a little bit in the kitchen and, I think, just the back of the house.

Speaker 1:

No foundation problems.

Speaker 2:

What about the back of the house?

Speaker 3:

Like the floor needs to be jacked up in the back part of the house.

Speaker 2:

When you say jacked up, what do you mean?

Speaker 3:

Like, you would need to go underneath the house that has the floor.

Speaker 2:

like Okay, so there's foundation work that's going to be required.

Speaker 3:

Yeah, some foundation work Okay.

Speaker 2:

So to help me better understand this property, on a scale of 1 to 10, with 1 being we should just tear the property down and start over and a 10 being it was fully remodeled yesterday. What would you rate the property?

Speaker 3:

Probably around a 4. Remodeled yesterday. What would you rate the property?

Speaker 1:

Probably around a four. Okay, so I have heard Tyson use that line before. You know the one, rating it one to 10. So she gives it a four. My question to Tyson is is what's the difference between a three and a five, a four and a six? Like I, I it's an adorable, you know question to ask.

Speaker 1:

I just I don't like that because if you're going to go strictly in a condition which obviously we're seeing in these King, closer, react series a lot of closers they immediately want to talk about the condition of the property, the condition of the property on repeat, almost everybody immediately gets in the condition and not really wanting to talk about pain and motivation, which is what I'm most concerned about. So now she says, hey, it's a four. What does that do for him? Maybe he'll explain it here in a second. Maybe he leverages that later in the conversation. I hope he does, otherwise I don't see the purpose behind putting that number there. So I'm curious to see if the number four that she gave him comes back up later out of Tyson's mouth when he's negotiating.

Speaker 2:

And what do you think would need to happen to make it a 10?

Speaker 3:

So it definitely needs some new windows in it. Some of the windows throughout like the 10 years that my uncle lived in there, I guess had gotten busted out and he didn't replace them, so I had to board them up and um the front porch, the roof just falling, just like not falling in, it's starting to like come down, so it might need to be like pushed back up. And then the flooring.

Speaker 1:

So he asked what it would take to get a 10 from a 4. She didn't really say a whole lot. I mean windows and there's a roof situation. The foundation she hasn't really discussed, like the cosmetics she hasn't touched base on, like flooring, drywall, paint, kitchens, bathrooms, the pretty stuff that really, you know, moves the needle. There are certain things that are just like structurally and functionally expected from a buyer when you're flipping a house and you're fixing it up that have to be done um, and then there's things that really move the needle on value, on remodeling it and increasing the value of it. She hasn't touched base on any of that. So I'm curious if he dives a little bit deeper into the condition here, since we are going down that route, is this going to be a heavy let's talk about condition, uh type of conversation?

Speaker 3:

that's probably why, uh, it might you know, I may need to do appliances like everything is probably out of date okay, um, how soon are you looking to have this property sold?

Speaker 1:

So now we go to timeline.

Speaker 3:

Really as soon as I could. Okay, I've been trying to sell it for about a year just by myself, like with the sign up. It's in a good part of the neighborhood. It's two houses behind the elementary school, so it's in a full zone.

Speaker 2:

Okay, so why do you think it hasn't sold yet? Good question.

Speaker 3:

I'm not really sure. I don't know. It's like I didn't have a couple of people call me about it, but I do work 50 hours a week, so some of them like we're from out of state and we just couldn't find a good time to meet.

Speaker 2:

Okay.

Speaker 3:

And it's not like a well traveled road. If you don't already like live there.

Speaker 2:

Understood. So you said you wanna get it sold as soon as possible.

Speaker 3:

Yes.

Speaker 2:

Okay. So if we were to make you an offer today, that made sense. It's something that you'd be ready to get the ball rolling with today.

Speaker 3:

I'm sorry say it again, my phone cut out.

Speaker 2:

If we made you an offer that made sense. Is this something where you'd be ready to get the ball rolling on it today?

Speaker 3:

Yes.

Speaker 1:

Okay, so that's right there, getting a soft verbal commitment from her that, hey, you are ready to make that decision right now. I'm assuming he's going to follow this up with. Okay, well, how much do you want for it? And then, if that's the case, if this is his cadence, it makes a lot of sense why he didn't ask Price right out of the gates, although he could still have the exact same cadence and get a number out of them and then get them at a lower number later on in the conversation using the closers formula. So he could have said everything they said at the beginning how much do you want for it?

Speaker 1:

She gives them the number to talk about the condition, talk about the timeline, and then, okay, hit her with the soft validation. So, are you ready to sell this thing? You said ASAP, yep, okay, well, if I covered the closing costs and there's no commissions and everything, what's the best price you could do for me? And then he could say, okay, that's the number I could do for you. So he could still do the exact same thing. He could have this soft verbal on closing the deal today, if that's something that he wants. I'm curious, I bet, with the order in which he's asking questions. There's been a couple of times where he might have left a few few dollars on the table there, because he's only getting the number out of the seller once here.

Speaker 2:

Okay so, based on what you told me about the property, there's foundation work that needs to be done. It needs new windows, the roof on the front porch needs some work, the floor needs to be redone and the kitchens and stuff look like they need updating. What do you believe is a fair price for the property in its current condition?

Speaker 3:

I was looking to get just nine out of it Because you know it isn't a good neighborhood. I've known the neighbors there for a while. Nine out of it because you know it isn't a good neighborhood and has a good like I've known the neighbors there for a while, like they're a good vibe. You know help look out for the house. It's right there by the school and it can't like. It can still be a really nice house. It's just I don't have the time or the money to put into it.

Speaker 2:

Okay, so you said $9,000?.

Speaker 3:

Yes.

Speaker 2:

Okay, so if we were to buy the property from you completely as is so, you didn't need to clean anything out, make any kind of repairs, there were no realtor commissions or anything like that taken out, and we paid all of the closing costs, what's the best price you could do?

Speaker 1:

See, all right, If you had asked the price earlier and then hit her here, it just it feels repetitive, right? What's a fair price for you? Nine and then, okay, two-shot, what's the best price you could do for me? That question normally gets somewhere between 10% to 20% price drop for me. I would like to know how often that same number he's getting 10 to 20% $7,000?.

Speaker 1:

Yeah, okay, so he got a $2,000 price drop, which is like what? 25%. Obviously, this is a very highly motivated seller, so it worked there. What I want to know is because, again, this is the ideal scenario. Right, highly motivated prices, right, nine was already probably a good price for him. What I'm talking about right here in the order, in the cadence in which he is delivering, this would be when the seller is motivated but the price is not right. He needs to switch that, he needs to ask price earlier on, because the way that he just did that with a seller that does not have the right price, the results are probably not going to be the same. So that is like one piece of feedback that I'm going to give Tyson and be like hey man, this is the reason why you've got to make that change.

Speaker 2:

Okay, so if I can take this information, my underwriter and they get the property approved for an offer around 7,000, it's something that you'd be ready to move forward with today.

Speaker 3:

Yeah.

Speaker 2:

Okay, what I'm going to go ahead and do now, Elizabeth is let me take this information over to them.

Speaker 1:

To who? To oh man, oh, where are we going? She's ready to go, no-transcript. What I just? I don't understand it. Where are we going? What is he going to come back with six thousand eight hundred and forty four dollars? Where are we going, uh?

Speaker 2:

they'll look at the property and um, based on their factors, they'll let me know what we can do on it and I'll be able to give you a call back and I'll let you know. Uh, if it's something that works, we'd be able to send the offer over to you in writing.

Speaker 1:

Is he going to get off the phone? No, no, no, no. Why would we get off the phone To go talk to the imaginary friends? There's no way. No, Tyson.

Speaker 2:

No To your email. Do you have access to your email right now? Okay, um, so, yeah, we send the offer over to you in writing. We go the head, do that. Um, from there, we do schedule somebody to go over and take photos of the property.

Speaker 1:

Okay, so outside of the fact that he's about to get off the phone and go talk to his imaginary. So, outside of the fact that he's about to get off the phone and go talk to his imaginary friend, I do like the fact that he's setting the expectations of what is going to happen with the walkthrough and the entire process. So this is good. He's doing so many things right. Just put the price at the beginning and get rid of your imaginary friend. I know you're like in your early 20. I think he's like what maybe 25 now probably still has his imaginary friend billy. But you don't need to go talk to billy. You can do it.

Speaker 2:

You can do it without billy tyson just to confirm that everything is as you told us about it. And then, um, we go ahead and wait for the close date, which is typically 30 days from now, so we could have you paid for just after Christmas. That sound good.

Speaker 3:

Okay, yeah.

Speaker 2:

All right, so let me go ahead and take this over to them and I'll give you a call back in probably about 10 minutes. Okay, oh?

Speaker 3:

thank you.

Speaker 2:

All right, thank you, elizabeth. Talk to you soon Could oh, why, okay, thank you All right. Thank you, elizabeth. Talk to you soon. Could be a deal, boys. So the lowest selling property I can find in that area is 34K Okay.

Speaker 1:

So he's talking about as-is comps Very important at this price point. It's vitally important to understand what the as-is comps are for sure, so I do like the fact that he's bringing that up. But again, if this has anything to do with deal underwriting or comping right now, tyson is far too skilled of a real estate investor and a wholesaler to get off the phone. He should have been doing this with her on the phone.

Speaker 2:

For 1, thousand square foot homes. So I think I'll offer seven for it, not exactly seven. You never guys lesson here you never. You never offer them exactly what they're asking. You always have to come down a little bit. You can't make them feel like they gave away too too easy.

Speaker 1:

You're not offering. You're saying yes, you're the buyer. What is wrong with you? Go talk to Billy the Kid, come on.

Speaker 3:

But yeah, this could be a deal.

Speaker 2:

I mean, look, I can't find a house that's sold for less than $34,000. So I'll lock this up, shoot it out for $30,000. We'll see. Hello, hello, elizabeth, hello hello elizabeth.

Speaker 1:

I just want to say something. This past monday I did a video called time kills all deals. I'm telling you right now, in those 10 minutes, while he was sitting there circle jerking with billy the kid, if I had talked to elizabeth it would have been game over, baby. I would have gotten that signed contract right then and there and he would have never stood a chance. And I would have gotten that signed contract right then and there and he would have never stood a chance, and I would have been like, oh so he's talking to his fake underwriter. Just so you know, he's sitting in his house. He doesn't have an underwriter. That's not actually happening. I don't need to talk to anybody else. I'm the shot caller, I'm the decision maker. Let's do it right now. You need seven. I'll give you seven. Let's make this deal happen. This is a mistake and I hate it. I hate it, I hate it.

Speaker 2:

I got to get them to stop. Hey Elizabeth, this is Tyson.

Speaker 1:

Is now a good time to go over our offer for your property Before he makes the offer. I'm standing on $ hundred and forty four dollars right now in the comments over under six thousand eight hundred forty four, yeah that's fine, awesome.

Speaker 2:

So I have some great news your property did get qualified for an offer. Good, job so let me tell you about what they've approved. They've approved for us to buy the property completely as is. They've approved for us to buy the property where we are covering all of the closing costs, and they've approved there to be absolutely no real estate commissions. With that being said, the approved offer to purchase your property was $6,490.

Speaker 3:

That's perfect.

Speaker 2:

Excellent, so I just need to get a couple things clarified real quick. On tax records, I see that the name of the owner on file is one Elizabeth Moore. Is that you?

Speaker 3:

Yes, that's my maiden name.

Speaker 2:

Okay, excellent. Okay, my transaction coordinator is going to send you over this offer to you in writing.

Speaker 1:

Oh, bro, all right, if you're going to get off the phone to talk to Billy the Kid, the fake underwriter, at least have the contract written up so you can send it to her and walk her through the contract while you're on the phone. I mean we knew she was gonna say, yes, have it ready, let's go. Let's not do the texas two-step, one step. Baby, get it done, she's ready to rock. This is one where you get the signature on the phone it'll be in your email in just one moment.

Speaker 2:

Do you have access to your email right now?

Speaker 3:

Yes.

Speaker 2:

Okay, have you ever used?

Speaker 3:

DocuSign before All right, yeah, I've used it before.

Speaker 2:

Perfect, this will be a breeze then. Okay, that should be showing up any minute now. It'll say please DocuSign purchase agreement. It'll be from Blake Smith via DocuSign. This deal is in Kentucky. It is a two bedroom, one bath, 1,000 square foot house. Arv is like 100 to 120K. We're getting it for $6,490. I'll be looking. I'm gonna list this property on the market for 30K. Did you get that email yet?

Speaker 3:

Elizabeth, yes, I'm sorry, I'm doing it right now.

Speaker 2:

Oh, no worries, All right. Did you go ahead and press complete at the top right corner?

Speaker 3:

I hit finish at the top right corner.

Speaker 2:

All right, excellent, we just got it back. So, elizabeth, the next step is my transaction coordinator. His name is Blake. He's going to give you a call tomorrow morning and basically he's just going to set up a time for us to get somebody over there to get photos of the property, and then he's going to be the one that's going to keep you updated through every other step along with this transaction, to make sure that you know everything that's going on.

Speaker 2:

If you have any questions, he's going to be your main point of contact, but if, for some reason, you're unable to get ahold of him, this is my direct line, so feel free to reach out to me as well, okay.

Speaker 3:

Thank you so much.

Speaker 2:

Hey, absolutely Hardest part of the whole thing is over, so we're going to get everything set up and you'll get your 6,49090 right there the first week of January, all right?

Speaker 3:

Okay, thank you.

Speaker 2:

All right, thank you, Elizabeth. Look out for that call tomorrow morning, okay.

Speaker 3:

Okay, thank you.

Speaker 2:

All right. Well, you have a great rest of your Sunday. All right, ma'am.

Speaker 3:

You too.

Speaker 2:

All right, bye-bye, just like that, boys.

Speaker 1:

Just like that. Just like that, boys, except for a couple things. Tyson alright, well, I gotta have a call with Tyson. I gotta fix some of these things. Listen, is Tyson a closer? He is a great closer and he is far too talented to be doing some of the bullshit that he's doing on that call, the getting off of the phone and then coming back after talking to the pretend fake underwriter, billy the kid completely unnecessary specifically on this call.

Speaker 1:

Uh, the asking of the price later on the conversation and getting a number and then immediately going into well, if I cover all the commissions and there's a closing cost and all of that and it's repetitive and it's too close together and basically the conversation is too segregated. Right, it's do you want to sell, condition, timeline, price? Right, and we're too in an order of that. It was all about condition, it was all about timeline and then it was all about price. What you need to do is you need to mix it up a little bit. So it's validate that they want to sell, ask them how much they want, get an understanding of their motivation. If they want to talk about condition, they can talk about condition, understand their timeline, then go back to price and then build the rapport with credibility, which he did a really good job of explaining how the process was going to work with him and then close the deal. Outside of that, listen, tyson is very talented at what he's doing, loved his confidence on it. That is a live video and, as someone that has done a ton of live videos, you can see he is very comfortable in what he's doing and he has a structure and a process. So at least he has that.

Speaker 1:

I just wish that there was a few changes there. I just don't like the made-up stuff and specifically when you're adding a barrier that is unnecessary, like getting out the phone and hanging up with a seller. I never want to add that in because, like I said, if a shark comes in, like me, I'm closing that deal and I'm never giving him a chance to offer the $6,490. Outside of that, tyson man, just so much talent there, so much ability. I just want to take a few little tweaks to you.

Speaker 1:

But, dude, you're a great closer. Just wish we weren't having some of those little mind games in there and not necessary barriers really. So, overall, guys, let me know what you thought about Tyson's close. Do you guys think Tyson Smith is a closer and if you enjoy the videos, keep leaving me the comments. I see them every week. You're like dude, we learned so much of these. Keep them coming. I love doing the reaction videos, so we're going to keep them coming every Saturday. Make sure you like these videos, share them with your friends and we'll see you next week on the Keaton Closer Reacts.