The Titanium Vault hosted by RJ Bates III

Watch This Masterful Close | Closers Formula

• RJ Bates III and Tyler Osborne • Episode 757

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SPEAKER_00:

This past Saturday morning, we went live with a bunch of TU members calling Lead Zolo Leads live for you guys to watch, and the results were fantastic. I think there was like 25 contracts sent in a four-hour span. Quite a few of them have already been signed. Some of them have already been assigned. But that being said, I had to go to my son's hockey game, and I only got to watch about 45 minutes of the four hours. But during that 45 minute span, I got to watch an absolute master class from Mr. Tyler Osborne. He was the first TU member to get a motivated seller live on the phone. And so I got to watch the entire close. And I have to tell you, I was beyond impressed by Tyler and how he navigated this seller conversation in this close. Now I'm going to give some of the reasons why I was impressed throughout, but we're going to show you the actual seller call. And then after the seller conversation, I'm going to give you the results of that seller call and then also my final thoughts on it. So that being said, throughout this conversation, Tyler masterfully perfects the closer's formula. He starts off with deep diving into the seller's motivation, understanding why the seller wants to sell their property, but not necessarily understanding the layers of motivation yet. He gets that initial layer and he's going to continue through the conversation, allowing the seller to kind of steer the conversation where she wants. And then he's going to uncover the multiple layers of motivation throughout. He does a great job of when he identifies she is a motivated seller, but the price is incorrect. He starts the education process with having the seller educate him on what the property could be worth and then how much repairs would be needed to achieve that value. And he does that by allowing her to tell her the numbers and he leverages that into educating her on our numbers as an investor on what we would need to purchase it at. After he has the seller educate him on the numbers, he then goes back and he revisits her motivation before he then explains his pain and his motivation on her price. This is a fan, this is next level stuff right here. He has her explain her motivation. He then has her educate him on the numbers. He then revisits her motivation and then explains why that does not work. And he does it in a very uh educational and kind of do you understand where I'm coming from tone? Not talking down, not argumentative, but very much like I want to be a solution for you, and this is why I can't be at those numbers. He then gives her the option for the cash, leveraging time as a reason why she should accept that. If time is a pain point for you, this is how I can help you with a cash offer. He then explains the benefits of receiving a cash offer in comparison to listing with a realtor and going on the MLS. Does a fantastic, fantastic job of that. Then he delivers his offer, followed by silence. I absolutely love this moment by Tyler. He does a great job of educating her on why the offer is going to be where it is. And then the final thing that he says is his offer, and then he sits and lets that resonate. That motivation had not been uncovered yet. And so once he offers that cash price, it's not necessarily that she doesn't like the offer, it's that she cannot accept that offer because of the mortgage. And so the offer actually uncovered that. She then immediately tries to hang up. She's like, and thanks for your offer. I appreciate your time. And she's she's hanging up on Tyler. And I love how quick he was to pivot. This is the critical moment in this call where Tyler immediately pivots from cash to now exploring creative finance offers. Okay. And what's amazing about this is I always say, listen, your initial offer should always be cash, but the exit strategy determines your acquisition strategy. And so he does a great job of understanding cash is not going to work. What could be my exit strategy? It could be a buy and hold rental. Then, because of that, and we have a pain point of a mortgage. Let's explore the options of buying the property subject to the existing mortgage. Great pivot by Tyler. That's a critical moment in this call. And then I love how when he's explaining buying the property sub two, he refers to her mortgage as debt. It is a trigger for sellers, and it's explaining hey, I am alleviating you of your debt, not of the mortgage. I thought that was fantastic. And then at the end, he assumes the close. We're on the same team. We want this to be a win-win. I've offered a solution. So I'm going to assume that she is going to accept this. I'm going to write up this contract. I'm going to send it over to you, and we are going to review it together. So that being said, let's go ahead and pass it over so you can watch this masterful close by Mr. Tyler Osborne. And after Tyler's done closing it, I'll give you my final words and also give you the results of what happened on this call.

SPEAKER_01:

Have you thought about listing this or what's got you thinking about doing, you know, uh I had a uh I had a realtor who my mother just passed away a couple of months ago, and I had a realtor that sold her home and stuff for me. But uh I just I just need to be done with it.

SPEAKER_03:

Okay. Sorry to hear about your mother too. Um it sounds like she she lived a long good life though.

SPEAKER_01:

91.

SPEAKER_03:

That's awesome. That's awesome. My uh I have my great grandma just passed a couple years ago. She was 97, I believe.

SPEAKER_01:

So yeah, when sometimes they're long life too.

SPEAKER_03:

Yeah, I'm sure your mom just lived a beautiful life, so so that's awesome. Okay.

SPEAKER_01:

Sorry about your grandmother as well.

SPEAKER_03:

Thank you. Yeah, well, with her living older, and you know, you don't have no crazy health issues, you probably got a long ways to go too.

SPEAKER_01:

I hope so.

SPEAKER_03:

Yeah. Okay, so you're just wanting to get rid of it. Okay. So you didn't like necessarily was the realtor process like hard or it took too long, or no, yeah, it's just too long.

SPEAKER_01:

I I I like to get rid of it as okay.

SPEAKER_03:

Okay. Okay, let's see here. I can definitely um, you know, help there get this done, ASAP. So, I mean, you're obviously still paying on this too, right? I'm sure that's yeah. Okay. Yeah, two well, your daughter probably just uh hopefully she don't like charge you, huh?

SPEAKER_01:

No.

SPEAKER_03:

Okay. Um so ASAP, well, what do you think? What do you think? Say if I listed this, say I put a little work into it and listed it. What do you think I could sell it for?

SPEAKER_01:

It's uh it's a large property that goes between two two residential streets. Um it's what they used to call like a shotgun house.

SPEAKER_03:

Okay.

SPEAKER_01:

You know what that is?

SPEAKER_03:

Yeah, yeah, like the straight through or straight through? Yep.

SPEAKER_01:

Yep. And uh it needs some repairs, and you know, in fact that or I'd be asking more for it. But I figure anywhere from 200 to 239 depends where you look and what you get to it, you know.

SPEAKER_03:

Yeah, yeah, of course. And that's why I was wondering, because this is huge, so that you know, that um I mean adds up quick. What would you think then? I'd have to. I know this is hard, I'm not necessarily a contractor either, but if you had to put a number on what I would have to put into this to fix it, since it's so big, like I said, I mean it can add up quick. What would you think?

SPEAKER_01:

I think you can make it really nice if it if it can fit in probably 40 to 60.

SPEAKER_03:

Okay. Okay, great. Let's see here. Well, I mean, I could definitely get this done.

SPEAKER_01:

That's my process, you know.

SPEAKER_03:

Yeah, I mean, I'm like I was actually in the same realm as you, so that's great. Um, I just have to base off of you know, square footage, but I was in the same realm. So I would definitely I I want to get this done for you. I know, like you said, you know, the health, and I mean you're paying for another place, it's not necessary. But I mean, let's say I can sell it for 230, right? Well, when I buy it from you, you know, I'd pay your closing cost, and then when I sell it, I'll have closing cost. And then also when I sell it, I'll have realtors. So that's gonna be like 7%. That's like 16 grand. So that would knock me to, you know, 213. And then let's say it's 50 grand in repairs. Let's land right in the middle. That put me at 153, and then I'm gonna be paying just like you, you know, the uh the bills, the electric, the taxes. So I like to just budget, we'll say 10, 15 grand. I mean, that puts me at 150 right there. So at 160, I'd actually be negative 10, you know, right off the rip. So is that 160 like super important? I want to get it done and help you quick, you know, and I know it's a pain, and you don't want to deal with the realtor, and you know, all you got awesome health, but at the same time, you know, dealing with this second house. But if I did 160, I would be negative, you know, 10, 15,000 day one. Um and so I can get this done, but is that something you know we can we're wiggling on, or that's a very important number?

SPEAKER_01:

Well, I wouldn't go below 150.

SPEAKER_03:

150. Okay. Well, let's see. And I mean, let's see. I don't know. So let's say what do you think you listed it now, you could list it for and and get like realistically in a couple months, not let it sit for six months, like as is. What do you realistically think it would, you know, get?

SPEAKER_01:

Honestly, right now I don't know. It's uh it also has a three three three-car garage or a shop, whichever way you want to go, um that's behind the house. Like I said, it goes between two residential streets and the length of uh one cross street.

SPEAKER_03:

So yeah. Well, so like on this, I mean it's really just the numbers, you know. I mean, I would say if you listed it, I mean, I I don't think you would net walk away with the 150, and this is just person, you know, I'm just looking at the data. Um, so I mean, for me, I would definitely have to be a good bit lower. So if you're kind of stuck on the 50, I definitely don't want to waste time, but I can get it done quick. It's totally up to you.

SPEAKER_01:

Yeah, the um is that a is that a cash thing? Are you you talking about you put it up for sale and then no?

SPEAKER_03:

Yeah, I can close. I mean, if you're wanting this done in four weeks, I can close in four weeks. It's just, you know, obviously if you list it with a realtor, you're gonna get the most, but you've done been through that and you know how not easy and not fun that is. But that's gonna be your best. And in this case, I don't know many realtors that may even want to list it just because the condition. So you could possibly go that route, but just with this condition, and realtors don't do this a lot, I would see it sitting on the market a while, and time is not on our side, so I can make this as easy and simple as you want. It's just, you know, speed and convenience comes with the price, and I mean, like I said, at 160, I'm negative on day one, so I'd have to be, you know, a little bit lower. But my number can be, you know, I'll pay all of your closing costs and stuff too. My number can be net in your pocket, so I'll deal with the closing cost, um, you know, any any inspection, stuff like that. Anything needs done, I'll deal with it. You're just you know, completely hands off. I'll deal with the headache. So I provide speed and convenience. You know, I'm I'm kind of like the easy button.

SPEAKER_01:

So what would be your offer?

SPEAKER_03:

Yeah, I mean, so for me, let let's say, let's say it'll be worth the two 240-ish. Um, let's call it 50 grand in repairs, just just to be safe, you know. Um, so that automatically, you know, drops me down to what the 180 something minus closing cost. Um so for me, if you're wanting this done easy, quick, out of your hair, I'll pay everything. Um, get this done on your timeline as quick as four weeks. I could put in your pocket$100,000.

SPEAKER_01:

I owe more than that on it.

SPEAKER_03:

So what do you owe?

SPEAKER_01:

But I appreciate your time.

SPEAKER_03:

I still may be able to help. Um, that's just I have a couple ways here. So I definitely want to help you. So that's my main goal here is solve problems. Um, so what do you owe on it?

SPEAKER_01:

I still owe$138 on it.

SPEAKER_03:

Okay.

SPEAKER_01:

And then uh my financing is a 3.75.

SPEAKER_03:

Okay, what's your payment on that?

SPEAKER_01:

Um I just went I went through mitigation. Um and so it wasn't nine twelve it wasn't a thousand twelve, it went to nine twenty-two, and after mitigation decided to go to eight ninety-seven a month.

SPEAKER_03:

Okay, great. And what do you think I could rent this for? Probably like what fourteen hundred, thirteen hundred?

SPEAKER_01:

Yeah.

SPEAKER_03:

Okay. So what if I take over take over that debt? And um, I mean, how much money in your pocket would you need? Would or if I just wipe the debt, you know, are you just trying to get away from it? I mean, you just want and done with it. I could take it over and get it out of your hair. And essentially what I'd do there is I'm taking on that that mortgage because here's why it appeals to me. That's better than I can go get a loan right now with the bank. So if I can get a payment of yours at 900 and I can rent this for we'll call it, you know, 1400, that's a good rental for me. So I can now solve your solution. You know, get this off your head. You can focus more on you and your daughter, um, and you're just you know, you're out of it. Now, you know, the debt it has it would obviously it has to stay in your name, or else it would be white. But I'd pay this through a third-party servicer, and a question people have a lot, which it probably wouldn't, you know, affect you, but um, it would look just like you're renting it to me pretty much. So it just looked like you're renting it to me, you know, I'm making the payments and all is well, so right.

SPEAKER_01:

But then if you stop making payments, then I'm back in the same boat.

SPEAKER_03:

Yeah, if I stop making payments, then you get to keep all the upgrades I did and all the equity I put in there, and you've essentially foreclose on me. But that's not my goal here. I've never been foreclosed on. We do hundreds of deals a year. I can shoot you my info, you know, show you how I'm very credible. But I I mean that's a I think in your situation, you know, this is probably the perfect exit because on market, I don't know if you know you're gonna get more, I guess. And an owner is not gonna buy this, it's gonna have to be an investor. So, and it sounded like at the beginning you might have got some calls. So I want to be the last one and get this done for you. I mean, you know, if that's something that you're wanting to do, I I can shoot over a contract and we can get it going. Like I said, I can close in um you know a month. Um yeah, well then if we get started now, we might close before the March. But if we wait, then you're probably definitely gonna have to pay March. But if we can get it going, you know, we got what, three weeks, that's gonna be I mean, we could probably, you know, I can't guarantee that I wake up tomorrow, but we can probably get it done and then that way you don't have to worry about that payment either.

SPEAKER_01:

Well in that contract, it would have to it would have to stipulate that it's as is.

SPEAKER_03:

Yeah, no, it'll say it's as is, it's um let's see, is your let's see uh what's your email. Okay, well, what I can do then is I'll just shoot you over this agreement. You can see it, it'll say, you know, it's as is. I'm buying this from you um for X amount of dollars, close in um, you know, 30 days or less, and it'll it's very simple, it's very clear, it's not a hundred pages, it's just a simple two-page agreement. Um, so I can get this sent to you, and like I said, kind of here, which we obviously know, time is definitely of the essence for us. Um just because I'd really like to get that March payment paid for you, and so you don't have to worry about it. Um let's see. I'm getting her put up here now. So how's how's the day going? Good?

SPEAKER_02:

Pretty good.

SPEAKER_03:

All right, sweet.

SPEAKER_01:

Um do you have access to your email or I do okay, and then I see that is it Rachel and Terry or no, she's she's only on the lead.

SPEAKER_03:

Okay.

SPEAKER_01:

So financially responsible for anything.

SPEAKER_03:

So just Terry. Yes, she would need to sign off her day, but I can stipulate on the deed, not yeah, and on this, um so this agreement here, this just this doesn't mean you're selling your house to me right this second. This just allows us to get this process going. So um title can do their job and we can get this done before that payment, hopefully.

SPEAKER_01:

Okay.

SPEAKER_03:

Um let's see. Sorry, this I'm getting her done. This, you know, you know how computers are, or at least how some computer operators are. Okay. So I mean, so say I, you know, take it over. Are you just want me to take it over? Or you need some money in your pocket? What are you what are you thinking?

SPEAKER_01:

Yeah, I need a little money in my pocket.

SPEAKER_03:

That's what I f that's what I figured. Um, I mean, what are you thinking? What do you need?

SPEAKER_01:

We could um six grand.

SPEAKER_03:

Okay. Yeah, that's what I'll do then. But then if you both do have to sign to get it done, you will have to like at closing, you know what I mean. But but as far as now, I mean, just one's fine. And then, like I said, from there, um, do you have pictures you can send me, or can she take pictures for me later just so I get an idea? Um, and then we'll figure out a time just to come check it out with you. We're not, like I said, nothing crazy, but just come check it out, make sure nothing insane happened.

SPEAKER_00:

All right, so absolute masterclass by Tyler right there. Fantastic job, man. Could not be more proud of you and how you navigated that. I thought there were just fantastic moments throughout, but that pivot moment, that pivot when you made the offer, silence, it uncovered the mortgage, and you were able to immediately keep the seller on the phone and then pivot that to a sub two offer, that right there, that's what makes you a closer in comparison to our competition. Great job. Now, what happens is Tyler writes up the contract, he sends it, and then there's an objection that comes up. She, the seller, wants her sons to review the contract. Now, we didn't capture this on on camera because we had a bunch of people calling sellers, but Tyler then has it sent over, the sons review it, they give the green light, and Tyler does get a signed contract. Now, what's even more impressive about all of this is that Tyler gets a signed contract and how quickly he was able to move forward. Because remember, one of the sellers' pain points here was time. She wanted this done quickly, and so Tyler moved very efficiently. He didn't rest on his laurels because, hey, it's a weekend, it's the Super Bowl weekend. No, he's taking care of business, and so he was able to move very, very quickly from the moment he got that signed contract. He was able to go ahead and get everything locked up and get access, pictures, everything ready for the dispo team to come in. And as you saw there, Braden Bissell from Mr. House was watching this. He was one of the hosts along with Danny Force. Mr. House took care of the dispositions on this, and they were able to get this deal assigned from contract to assignment in four days, which is super impressive. Recon, showings, assignment signed, everything is done, and that is a$15,000 plus assignment. So that right there is Tyler Osborne in the span of really the whole seller conversation took roughly 17 minutes. He was able to generate over$15,000, almost$16,000 in revenue for his company. That right there is the power of the one call close using the closer's formula, uncovering motivation with open-ended questions, truly listening to the seller. And when that moment of truth happened in the call, where he had to pivot from that cash offer to sub two, understanding its exit strategy first determines my acquisition strategy. He was able to close this, monetize that lead, and turn it into close to$16,000 in revenue. Great job, Tyler. For anyone that watched that call, you should watch it multiple times. There are so many moments throughout that you could take and implement into your own seller conversations. So, that being said, what was your biggest takeaway from Tyler's clothes? Let me know in the comments. Regardless, show Tyler, show the entire TU community some love by liking the video. Great job, man. Couldn't be more proud of you. We'll see you guys tomorrow.