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The Titanium Vault hosted by RJ Bates III
RJ Bates III, affectionately referred to as the Viking Wizard by his students, started his real estate investing career in 2014 after attending a real estate education program that put him $65,000 in debt. RJ contracted his first deal he found on the MLS and wholesaled it for a $7,500 assignment fee. That was the end of his former life and the beginning of his venture into becoming a real estate investor. Since that moment, RJ has become an influential figurehead in the real estate investing industry. He has successfully purchased and sold over 2,000 properties all across the USA including wholesale deals, rehabs, rentals, owner finances and short term rentals. One of his passions is being the host of The Titanium Vault Podcast where he interviews the top real estate investors. He has won back to back Closers Olympics earning him the reputation as the King Closer! Finally, RJ and Cassi DeHaas, his partner, have started their education platform called Titanium University.
The Titanium Vault hosted by RJ Bates III
How To Handle Objections | "I Need Think About It"
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Closers here, I need to think about it, and they panic. They either start pitching or they get quiet and accept the stall. Here's the truth. I need to think about it is usually not a real objection. It's a polite way of saying one of three things. I don't trust you yet, I don't like the price, or I'm overwhelmed and I don't know what to do next. So if you respond with, okay, let me know, you didn't handle anything. You just handed the deal to the clock, and the clock kills deals. Today I'm going to show you exactly how to handle, I need to think about it, without being pushy, without begging, and without sounding like a robot. Let's start with what gets you eliminated. Bad response number one. No problem. Take your time. Translation: I have no control and no next step. Bad response number two. What do I need to do to earn your business today? It sounds slick. It also sounds like you're selling a timeshare. Bad response number three. But this offer is really good. That's your opinion. The seller doesn't care about your opinion. If you hear, I need to think about it. Your job is not to persuade, your job is to diagnose. Let's start with the three-step framework. Step one, label it and validate it without conceding. You say, totally fair, this is a big decision. That's it. You're not agreeing to wait forever, you're just lowering their guard. Step two, clarify with one calibrated question. Then you ask. When people tell me they need to think about it, it's usually one of three things: price, timing, or just wanting to be sure that I'm legit. Which one is it for you? This question does two things. It forces them to specify what the issue is, and it gives them a safe way to tell the truth without feeling attacked. Step three, solve by giving two options and a next step. Once you know what it is, you give two clean paths. Path A, we move forward today. Path B, we don't, but we set a structured next step. No drifting and no call me later. Now, how do you handle each one of these meanings? Well, if it's trust, the seller says, I just I don't know. I need to think. You respond, I get it. Quick question: What specifically would make you feel comfortable moving forward? Is it proof I can close, reviews, talking to a third party like the title company? What is it? And then shut up. If they say, I don't know who you are, you say, Fair, here's what we can do. I'll have the title company call you and explain the process. And I'm gonna go ahead and I'm gonna email you the contract and the closing timeline in writing. If you're comfortable after that, we can close on X date. Does that sound fair? Notice what happened. You replaced fear with process. Now, what about if it's price? They'll usually dodge that at first. So you pull it out. If they say, I just need to think, US, is it more of a price thing? If they say yes, you go, okay, help me understand what number you are hoping for, and then let them talk. And then you can anchor in reality. Got it. The reason why I'm at X is because of repairs and what buyers are paying in that area. If I could get closer to your number, would you be ready to move forward today? Or is there something else? And that's an important line because sellers love to keep objections vague. You're tightening the box. If they say, Well, maybe I still need to think, then you say, Totally fair, but just so I don't waste your time, if I did meet that number, would you actually sign a contract, or are we still not there? That's the difference between a pro and an amateur. Pros don't negotiate against ghosts. Now, what about if it's they're overwhelmed or it's a timing thing? Some sellers aren't saying no, they're saying I'm stressed. You say, totally understand. What part feels like the biggest headache right now? The move, the paperwork, or just the uncertainty of it all? Then you simplify. Here's the good news. This is straightforward. Title handles all of the paperwork. We picked the closing date together. You're not paying any commissions or closing costs. If we can make the timeline easy for you, what would that ideally look like? Now you're solving, not selling. Let's do a little bit of role play. Bad version versus the good version. Bad version. Seller says, Yeah, I need to think about it. New. Okay. No worries. Just let me know. Seller. Alright. Two weeks later, you're texting. Hey, just checking in into the void. Like it's a therapy exercise. The good version. Seller. I need to think about it. You. Totally fair. Big decision. When people tell me that, it's usually price, timing, or they just want to be sure I'm legit. Which one is it for you? Seller. I mean, the price feels low. You. Got it. What number were you hoping for? Seller. I was thinking$180,000. You. Okay, well, I'm at$155 because of repairs and what buyers are actually paying in this pocket of your neighborhood. If I could get closer, are you ready to move forward today? Or is there something else that I'm missing? The seller. If you could do$170,000, I'd do it. You. If we did$170,000, you're ready to sign today? Seller. Yes. Now you're negotiating with reality, but let's be clear. You need to set proper expectations when this conversation goes down. There was a reason why you set the price at$155,000. And now you're coming up to their ideal price of$170,000. I always like to let them know I'm pretty good at what I do. I believe I need to be at$155,000. But based off of the information provided, if we sign a contract today at$170,000, we'll come out, we'll perform our due diligence, we'll get the offers from our end buyers. But if I do need to come down to$155,000 after all of that plays out, are you willing to listen to the reasoning behind it? Set that expectation for the possibility of a renegotiation if you're coming up from your original offer. The bottom line is don't let think about it in the call. If the call ends with, I'll think about it, you lost control. Instead, you always leave with a scheduled next step. Say, totally fair. Let's do this. When can we reconnect? Tomorrow at 5 or Friday at 11? I'd rather put it on the calendar than play phone tag. Two options, controlled, and if they refuse to schedule, that's data. That means it's not thinking, it's them telling you no. Then you pivot to follow-up or killing the deal. Understood. I'll shoot you a quick text with the number, my offer, and the details. If anything changes on your end, timeline, repairs, whatever it is, just reply update, and I'll jump on it. Now you've created a trigger for future contact, and you have come to a resolution on the call to change the status in your CRM. In my opinion, that is a dead lead unless they come back to me. This is embracing being the buyer and not destroying my acquisition team's morale. Alright, guys, that's our episode of the objection of I just need to think about it. Give me some time. Let me know. Do you agree or do you disagree in the comments? Regardless, show me some love, like today's video, and we'll see you guys tomorrow.