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Transcript

The Four Seller Buckets Framework

SPEAKER_01 0:03

Welcome back to Steller Call Film Room, the series where I'm going to show you guys a live seller call, but give you one specific tactic to pay attention to during the seller call. And today we're going to be talking about the four seller buckets and the importance of how you navigate those. And in this circumstance, I put the seller bucket in the incorrect price, no motivation bucket. Now, if you've listened and studied the closer's formula and you understand what I'm talking about when I say the four seller buckets, you know that's a bad bucket. And even if you didn't know, you could probably make that assumption based off of how I just described it. Wrong price, no motivation. What does that mean? It means we're getting the hell out of there, right? Hey, that's what realtors exist for. Go get your retail price, get full market value. That's not what we do as investors. And so in this seller call, I asked some questions. I kind of don't even know if he really wants to sell or not. He just kind of shopping around and seeing what's going on. I'm not really sensing any motivation whatsoever. So on my way out the door, right, while I'm pulling away, I'm kind of telling him, I'm right, I want to have a hundred percent success ratio with my leads. I still want to be the real estate professional and tell him what I think he should do, which I do. I tell him, dude, honestly, your original asking price wasn't too far off. I think you need to go list this with a realtor. All right, check. I did my job. I told him what he should do. Now I'm gonna respectfully back out of this call so I can move on and call the next seller who is actually motivated to sell for a discount. Well, what happens? My read is actually incorrect, but it's one of the benefits of pulling away from a seller because there's two things that are gonna happen. One, you're either gonna be correct, and there was no motivation, you're gonna move on to the next seller call. Or your read, your intuition is going to be incorrect, and the seller then is going to chase after you. And that's exactly what happens here. In one point in time, the seller is actually gonna say, What is it going to take for me to get an offer out of you? That's how hard I was pulling away because my read in the four seller buckets was no motivation, sir. You don't have any motivation to sell me this piece of real estate for a discount. So why are we even going to continue having the conversation? But he then tells me because I asked him point blank. This isn't in a script, it's not on a PDF. It's just me being real and transparent and authentic with the seller respectfully, sir. Why would you be interested in my offer? My offer is ridiculously low in comparison to what you could get on the retail market, and you haven't explained to me why you would want that. So why, sir? Because that was the real question that I wanted answered. Just tell me why. And he says just to not deal with all this. Convenience. I'm willing to sell this for an extreme discount for convenience. Not speed, but convenience. Now, what you're gonna see here is this doesn't end in a signed contract. Not every seller call is meant to end in a signed contract. But what this did give us was an opportunity. But following the process allowed that to take place. I went in, I asked my questions, I made my determination in the four seller buckets, wrong price, no motivation. I'm gonna offer a solution to them, listen with a realtor, and then I'm gonna respectfully pull away. Seller chased after me. Now we identify, there might be motivation. We ask, what is that motivation? Convenience. Now we have an opportunity. That is putting the process to work and seeing exactly how it can get you results, even when it's a seller, by all means, looks like is not motivated at all inside of the first four minutes of this conversation. So enjoy this live seller call. Let me know your takeaways in the comments. We'll see you guys tomorrow.

Live Call With A Seeming Tire Kicker

SPEAKER_01 5:00

Hi, is this uh who am I calling here? Barry Blair. Barry, are you looking to sell your property there in Sandy Hook?

SPEAKER_02 5:09

Yeah, we're looking uh we're looking to sell. I just I I come across that uh advertisement and I just I just thought for kicks and giggles, I'd uh I'd see what uh what you all would offer.

SPEAKER_01 5:23

Well, for kicks and giggles, how much you want for it?

SPEAKER_02 5:27

Well, that ain't what it don't matter what I mean. I I'd like to have about I think what do you get? What are you offering?

SPEAKER_01 5:34

I'd like to get it for a dollar. Maybe we can meet somewhere in the middle. Uh well what's got you looking to sell?

SPEAKER_02 5:45

Uh we're uh we're we're wanting to move out on some other property that uh that we have and uh it's uh and the kids are growed up and it it's twenty five hundred square feet. It's a little more than what uh me and her need.

SPEAKER_01 6:06

I gotcha.

SPEAKER_02 6:08

Um it's got much don't really matter to to you all. I mean it's got an above ground swimming pool, uh an outside outdoor fireplace out there on the back patio.

SPEAKER_01 6:32

Is it the one with the the red roof?

SPEAKER_02 6:34

Yeah.

SPEAKER_01 6:35

That's a nice place.

SPEAKER_02 6:42

Yeah, it's been I don't know, I guess it's uh it's been in my great grandfather on all this land.

SPEAKER_01 6:57

Gotcha. Okay, well you might not have been joking about the half million.

SPEAKER_02 7:06

Uh I'm probably not that high.

SPEAKER_01 7:09

Yeah.

SPEAKER_02 7:10

But uh but I am interested. You know, we're you know, we're uh we've been talking about giving it to a to a realtor, but uh I just I just thought I'd like I said I'd come across that ad.

SPEAKER_01 7:25

Yeah, I would say just based off of uh kind of your situation and taking a look at it, also just based off of the location. Um, in order to get the most amount of money, I mean, listing with a realtor is absolutely what you should do. Um, you know, for someone like me, normally we we're looking for somebody that's in a somewhat of a distress situation, maybe the property's distress or something like that. Doesn't sound like that's the case with you guys at all. No, no. This property looks really nice. I mean, the only thing that I would really even want to offer you would just be if you didn't want to deal with the realtors, then there's something that we could do there where we can kind of come in and help you um deal with the realtors ourselves and kind of do that for a fee. But I mean, even that's just if you just really just want to be hands-off and just get your money and not have to deal with it at all.

SPEAKER_02 8:24

No, I've got I mean, I I've I've got some good friends that realtors don't I just like said I just seen your ad.

SPEAKER_01 8:34

Yeah, I mean they would uh it would be it would be such a a haircut off of what you could get for it. There would there would be no reason for you to even entertain whatever I would offer.

SPEAKER_02 8:53

Well, I'm always entertainable. I mean you can't make me mad. I can't I can't get through the phone, I can't come through the phone to coach you.

SPEAKER_01 9:02

Yeah, I got you. I mean, I'm just looking at it right now, I mean it it would be significantly below. I mean, we're we're talking about uh probably in the 200s.

SPEAKER_02 9:22

Throw something there, uh what does it take to get a code to get an offer money?

SPEAKER_01 9:28

I mean, I that's what I'm saying. I would I would look into it, but I mean it it's definitely gonna be in the low 200,000s.

SPEAKER_02 9:37

I I might I might be interested in something like that.

SPEAKER_01 9:42

Respectfully,

Pulling Away Reveals Convenience Motivation

SPEAKER_01 9:44

why you can get a lot more money.

SPEAKER_02 9:47

Yeah, just to not have to deal with any on. Okay, well, I mean if you I'm I'm I'm all I'm I would I would like to hear, I would like to see what you all what you all would offer.

SPEAKER_01 10:00

I gotcha. I mean taking a look at it, I mean realistically, I would probably want to be around $215,000. Okay. And that would be cash as is, that's net to you. Our process is if you're if you agree to that number, we send you the contract, you sign it, we come out, we do our walkthrough, we inspect the property, check and see what the condition is, make sure it's everything that we need it to be, and then we would close on your timeline. So if that I know you've been there for a while, so if you needed longer to close, we could. If you need it to be fast, we can also do that as well.

SPEAKER_02 10:45

Right. Yeah, I'm uh I'm needing a little I mean I'm needing a little bit of my my daughter is had moved back in with us and uh she's getting married in about three weeks. And I'm I'm for sure needing you know, I I need that and then maybe maybe a little right.

SPEAKER_01 11:11

You know I mean we could we could put the closing date out for like ninety days and just make it on or before.

SPEAKER_02 11:20

Right. Well can you uh can you send me something through my email so I have a contact and and have a name and everything and then let me get let me uh talk with my wife and I can.

SPEAKER_01 11:41

Um I can also make it a little bit more real if you want me to, just so y'all actually have um the actual offer. I could actually write you a contract and send you the the contract so you and your wife can review it together, kind of see what the details would look like, and then it would have my contact information on there. Would that would that work for you? Yeah, yeah, I'd be glad. Okay. Well, I'll go ahead and I'll write this up and I'll send that over to you. And uh, yeah, just let me know if you have any questions, okay? Okay, all right, thank you, sir. Okay, bye-bye.

Offer Details And Next Steps

SPEAKER_01 12:19

Well,

Post Call Breakdown And Key Lessons

SPEAKER_01 12:20

that's totally gonna be a YouTube video. Watch me not try to go.

SPEAKER_00 12:26

That one threw me. I thought he was a tire kicker. I didn't know across like you you need whenever they're like you give me the price first, they're just window shopping. But that guy, he's he's okay at your number.

SPEAKER_01 12:43

He said 500. He said I'd like to be at a half a million. I said I'd like to be at a dollar. So maybe we can meet in between. Um, to be honest with you, when I threw out the number, I thought it was so ridiculously low, I thought it he was gonna run away. Um, there's a similar type, there's a similar type property right now. This this pro did you look this property up? It's in really good condition, yeah. Um, I mean, we we've got a lot of land, four acres. I mean, I don't know. This is also Kentucky. Maybe I was just meant to call Kentucky leads today. I don't know. That would be an interesting one, though. It's on the other side.

SPEAKER_00 13:28

What I liked about how you handled that, RJ, was you know, you just you didn't just give him the number that so it felt like a low ball, you prepped him for it. You said, Look, I'm nowhere close, it's gonna be ridiculously low, you know. So he's kind of prepped for it. And then in this case, when you gave it to him, he didn't balk at it, you know. So, like, just I guess it just reiterates like follow the process, guys. Don't get hung up on how people respond, just do your thing.

SPEAKER_01 13:55

He literally said at the end, what is it gonna take for me to get an offer from you? All right, 215. I would be interested in that. All right, uh should have been should have been 175, I guess.

SPEAKER_00 14:11

Did you see why though? He said he said he said speed and convenience. Well, not even speed, he said convenience. Yeah, just convenience.

SPEAKER_01 14:18

I just don't want to do it, which is hilarious because he said those are my friends. I have friends that are real realtors, but for the convenience, I'd rather go with someone like you. That's that one was wild.

SPEAKER_00 14:31

That one blew my mind. It just goes to show, guys, that sellers will take discounts if there's motivation, and hassle is a real motivation for a lot of people, it's a serious motivation. Doesn't make sense to you or me. Why not just go through a little extra work? But it for some people it's they don't want to deal with it.

SPEAKER_01 14:50

I mean, when he told me I was pulling away because I didn't think there was any motivation, you know. We look at it as what's the motivation? Why did you fill out my form? I just filled it out just to see. I'm not a uh it's like you said last week. I'm not a comping service, I'm not a CMA, I'm not an appraiser. Like, I'm not gonna sit here and just tell you what your house is worth. And I'm like, uh, you know what? You might not have been joking about your half million dollars. He's like, Well, I would take a lot lower than that. Okay, great. I'm still I'm out. You're not motivated to sell to me. Go get your money. He eventually came back around. Yeah, that was that was wild. Yeah, that was really cool.