A (5:05)
So by a show of hands, who in here can confidently say you're spending three and a half to four hours a day on a phone? Okay, there we go. Very few hands went up. Okay, so what do we need to do? If you're going to take this serious, you need to take your KPI serious. Some of you may be like, well, I don't have enough leads to do that bullshit. Go, go to Zillow. Go to for sale by owner. Do whatever you got to do. But you need to be talking to somebody that owns a home and see if they want to all day long. You want to make a minimum of 60 outbound dials a day to a homeowner that wants to sell. Okay? Everyone understand that? Did you write those down? Write down the 8020 rule. 8020 rule. When you're having these conversations with homeowners, a lot of you think you're getting on the phone to talk, to talk to them about a house. The house is the reason they're on the phone. You got to figure out why they're trying to sell that thing. So I live by the 8020 rule. 80% of your conversation should not be about the house. 20% of the conversation should. Does everyone understand what I mean by that? Yes. Okay, you're on the phone. The house gives you the ability to talk to them, but you got to figure out what the money is attached to, why they need access to that, and ultimately the problem it's going to solve. When you truly, truly understand that when you get on the phone with these homeowners, you become dangerous. If you get on the phone with these people and you think the conversation should be flipped, where 20% is just having the rapport and the fact finding in the 80% is talking about the house, you will struggle because at the very end of the conversation, we're getting ready to go over the five steps. If you do this properly, you have intro, you have fact, find, you have pitch, offer close. If you do this properly, step five, the close should be what? It should be the easiest part of the conversation. But when you the first four up, this becomes very hard. People ask me often, eric, how are you so good at closing? My answer remains the same. I do the work you're not willing to do. Meaning by the time I ask for the order, I'm talking to somebody that likes me, trusts me, and wants to do business with me. And until I think I'm there, I try not to ask for the Order, meaning make the offer and go for the close. We're going to start with step one. Intro, intro, intro. Right. I'm going to go ahead and click all these. So they're up here, so you guys have the chance to write them down and then I'm going to go through them. So you also have the script. You guys have the script in the book, right? That these like 13 pages, I have scripted this conversation out. Now, Leonardo DiCaprio, I would, I would have to imagine, without knowing for facts, he's probably one of, in his prime, he was one of the highest paid actors out there. Would you agree with me? Yes. Right. So before, when they started, before they ever said action and started filming that, what did they do for the director, the producer, what did they create for him? A script. Right. But they knew and did they audition and they were like, boom, Leonardo is probably the best for this role. Then what did they do? They gave Leonardo DiCaprio the script ahead of time so he could go home. Study, study, study, study, study, study, study. And then they're like, on this date, we're going to start filming this, Leo. All you got to do is show up on set. And he was like, boom, got it. So when they started filming it and they said action, right? The reason Leonardo DiCaprio gets paid millions of dollars to show up is because they know he's going to know the script and he's going to put his own personality and twist on it, right? So the reason I bring that analogy up is I've given you the script. I've given you a script that I absolutely know without a shadow of a doubt will make you millions of dollars. Because it did it for us and it's did it for countless other people, right? But once you know the script so well and you never veer from the five steps, I encourage you to put your personality into it. In the beginning, it might be you reading it word for word, line for line, where you literally don't skip anything. But as time goes on and you get more comfortable with the script, take it, use it to your liking. Does everyone understand that, that you might sound like a robot in the beginning, but I guarantee a 13 page robot sounds better than most people in the industry. Okay? So use that, stick to it. What you don't want to do is ever break from the process. There's a process. You have your intro, you have your fact find your pitch, your offer and your clothes. As long as you're covering all of that in your presentation, you're going to be Golden. Okay, got me. All right, so, intro, write all this down. Take a picture of it. Do whatever you got to do. It's quick and simple. Hey, Connor. My name is Eric with TLC Home Buyers. How you doing today? Awesome. Glad to hear that I catch you at an okay time. Yeah, perfect. It looks like your property was referred to me by a referral company. They said that you were interested in selling the house. Now, they did say that you were possibly looking to get your equity out. Yep, yep. Perfect. All right, so what I want to do here today is I'm going to ask you just a few questions and I'm going to see whether or not we're a good fit. Right? And then what I'm going to do by the end of this call. What I'm going to do by the end of this call is I'm going to let you know one or two things. We're either going to get an approval with an offer or a denial with a reason. Sound fair enough, Connor? Perfect. Now, I know you've gotten a ton of these phone calls. I get that out of the way, I let him know. I know you've gotten a ton of phone calls. I know you get a ton of these phone calls. So what I want to do before I start asking you questions is I want to have you jot all my information down. Can you grab a pen and paper real quick? Perfect. Now, real quick. My name, Connor, is Eric. Go ahead and write that down. It's E, R, I, C. My last name is Klein, with a C, C, L, I, N, E. You got it. Awesome. Now, the name of my company is TLC Homebuyers. Dude, I say the same every time. I don't have to think about it. The name of our company is TLC Homebuyers. You seen that TV show, right? Tlc. Just like that. Tender Loving Care. Go ahead and write that down. Now, my website is. I give them our website, and then the last thing that I give them is I say, go ahead and jot my number down. In case we get disconnected, you can call me back. I give them our phone number after I say the phone number, I ask every single time without fail. Can you please repeat that back to me? I don't ask him to repeat my name. The name of our company, our website, none of that. The only reason I ask them to say the number back is because. Why, Tim? Because people can't remember numbers. People can't remember numbers nowadays, Eric Klein, if you said that, there's a chance I could say that Back to you. Right, tlc, home buyers. Pretty easy to remember phone numbers. The smartphones we all carry have made us all stupid because we don't remember phone numbers. I only know one phone number right now, and that's my wife's phone number. How many of you in here have memorized 10 phone numbers? To the close people around you. I saw someone, like, try to raise their hand. Think about that. So that's what. There's a method to my madness. I'm going to say, hey, repeat that back to me. If they stutter or they get it wrong, I know they didn't write it down, but I want to get them engaged. Does that even say this up here? It doesn't even say it. I want to get them engaged. We're calling these people out of the blue. We don't know what they're doing. I want to get them into the phone call. I want to take control and I want to set very clear expectations. I'm going to let them know by the end of this phone call, one of two things will happen. I'm either going to say, yes, we'll buy your house, or no, it doesn't fit our buy box. But one of those two things, I promise you, will happen by the end. Why do I say that? Because so many people out there call these homeowners. They're not prepared. They don't know how to underwrite deals. They ask the same silly questions every time they let the person go and they never call them back. I've talked to enough homeowners where they've told me that. So I'm like, all right, I'm going to put that into my pitch. Get rid of that and let them know on this call, I'm going to give you exactly what you've been looking for. Out of all these other phone calls, you've answered the same question. What's the age of your roof? What's the age of your ac and what upgrades have you done? I don't even ask those questions till the very, very end because I try to separate myself from what you all say. Don't ask them, how much money do you want for your house? It's irrelevant to me. I haven't earned the right to ask this person, how much money do you want for your house? I don't know who they are. They don't know who I am. So if I ask in this, and I tried a time for someone that's new, write this down. An intro, if done properly, should take somewhere around a minute and a Half, sometimes two minutes. Let you're all like, holy shit. I asked for, like, how much do they want in that time? Step two, fact. Find step two. The most important step of all of them, you will find your homeowners. If you make enough phone calls that as long as the number makes sense, they're going to do a deal with you. Who's. Who's gotten one of those deals, right? You make enough phone calls, they're going to sell their house to you. But to do this at scale and get consistent results where you can dial it in so well, you know, every 28 leads, you're going to get a contract that's treating every lead as if it's your last lead. Now I'm going to give you an example, right? I just went through the intro, had him write my information down. I said to Connor, hey, it looks like you're looking to sell your property to get your equity out. Now, these are leads coming from their outsource. So they're coming from. Run it remote like the example I'm giving. If you're using a Facebook lead for, from Courtney. I would treat a Facebook lead just like I would treat a runner remotely. I would treat a for sale by owner lead just the way I would treat a Facebook lead or a cold call lead. I treat all leads the same because it's a homeowner that wants to sell. I don't break my process. A lot of people are like, dude, you can't treat a PP seed lead like you treat a cold call lead. Bullshit. You can't. Like, the name of the homeowner might be different, their address might be different, their circumstances might be different, but my side of the conversation is always the same. Like always, I may twist and weave in some of the conversations that I have. Like, I may go from step one intro, and the homeowner forces me into step three talking about the house. I'm not going to argue with him if he doesn't want to build rapport with me. Like, I'm going to let him think he's controlling the conversation or she is controlling the conversation. But I know, like, if I go from step one to step three, I gotta go back and get step two finished. You don't get this, right? I swear to you, this gets real hard for you. So what is what it means to find the why? If I call and I got the lead and I say, hey, I see that you're looking to get your equity out. He says, yeah, that's right. Going to say, awesome. Well, by the End of this phone call. Connor, what's going to happen is one of two things. We're going to see if your property gets approved, and if it does, for our buy box, I'm going to have an offer that's presented by our underwriting department. I take myself out of the equation that I'm not the decision maker. I'm not the one giving him the offer. It's my underwriters. Because I know my very first offer more than likely is going to be offensive, okay? And I want to position myself when I make that offer that it wasn't me that made it. I'm just the delivery boy. Okay? Now, if you position yourself right in some of your word tracks that you use, like, I'm going to have my under. I'm going to submit everything to my underwriters. They're going to look at the property and they will say one of two things. Yes, it meets our buy box, or no, it doesn't. When they look at properties, they look at them through one of two lenses. One, to see if it's a fix and flip, or two, a buy and hold. We buy properties for multiple reasons. I say that because your first offer is going to be the low one. If I have to pivot into a higher offer, they may say, well, how are you able to come up to that number? Well, I went back there and said, hey, do you think this would work for a buy and hold guy that doesn't have to rehab the whole house? So there's certain shit that you can say. Are you following me? Yes, yes, yes, yes. All right. When someone says, I want to get my equity out, they could say, I want to sell because of a divorce. I want to sell because I want to get closer to my grandkids. I want to sell to downsize. It doesn't matter what they say. I always go into a third party story. I want to relate to them. I'm going to say Dracos. I completely understand that you're wanting to sell because you don't want to be a landlord anymore. I get that. You know what's crazy? Dracos is like the last three or four homes that I've actually gotten approved, they were all from people wanting to retire from being landlords. What's going on with these tenants nowadays? Dracos? I giggle, giggle, giggle, right? I'll laugh after it or something and then I'll say, dragos. You know, the one that kind of stands out is the last property I got qualified, it was from a guy named Mitch. Mitch Was awesome. He was like 60. No, he was 72 years old. He was 72 years old. Been a landlord for like 25 years. How long you been a landlord? Draco's 12 years. Pretty good run. Pretty good run. Well, guess what? Mitch did Dracos. I want to. I want to get a response out of him. Guess what? Mitch did Dracos. Right. Did you. But did you see how I was silent until I. He answered? I could have tried talking over him. I couldn't let the uncomfortability. I wanted to say, hey, it's your turn to talk. Did you hear what I said? And he did finally say, what's that? Well, Mitch, 25 years into being a landlord, he broke the number one rule, you do not rent to friends and family members. And he let his granddaughter go in there. She was in there for five years. Everything was going great. Had the family discount. But then the problem started where the rent wasn't coming. Started driving a wedge into. In between Mitch and his granddaughter. Before they knew it, no rent was coming. It was crazy. And the only way Mitch knew to get his granddaughter out of the house was just go and say, hey honey, someone's buying the home. It sold. That was the easiest way for him. So at closing, the cool thing was we closed. Mitch and his granddaughter were finally on good terms again. But Mitch walked away with. I think it was like, I think it was like $57,000. He was able to pay off credit card debt he had been saddled with for like 15 years. At 67 years old, for the first time, he was debt free. So like, I get it, Dracos, you're saying you don't want to be a landlord, but why? And then I shut up and I'm going to sit there and I'm going to let him think one of two things will happen. He's going to give me a real story now of why he don't want to be a landlord. Or he's just going to say, I don't want to be a landlord. He could say, it's none of your business. So I'm letting him. I'm framing this because what most people do is Draco says, I don't want to be a land landlord, and they go, oh, okay. And then they move on. But when? Really, that's what I got to figure out. Why the hell did he have an investment property that was supposed to be an investment property and now he wants out of his investment property? I don't find that out by saying, oh, you don't Want to be a landlord. Awesome. So let's talk about the house real quick. I'm moving past the important part of the conversation. So I use a third party story letting him know, and you should have one, two or three third party stories for like every situation. If Draco said, I want to downsize, you know what's crazy? Dracos, the last three or four homes that I bought, they've all wanted to downsize. You know, my mom once said, less is more. Would you agree with that? Dracos, I know, I know. So the last guy was Mitch. You know, him and his wife had been in that house for years. And his wife unfortunately, you know, felt and hurt her hip and she hadn't been upstairs in like six months. I could relate to him because my grandma actually went through that and what they were doing, they were going to sell that house down size, get rid of all the stuff, move into a condo to where he didn't have to mow the lawn anymore and they could be on one floor. So I understand you say you want to downsize, but. But why? Same thing. I let them know I relate. We help them solve a problem, all that stuff. But if I slide by that I'm missing why they want to sell. When I get to the close, I can't leverage the pain. And when I'm talking about this, I'm always standing up. I do a wireless headset every time. If you're sitting down, if I had a chair, do you think I could keep your guys attention all day long? No. If I was sitting on a chair, I'd lose half of you immediately. So when I'm talking and someone says that, something about like a death or illness or their grandkids, something like that, I'm like, I've been through that before. I've seen my grandmother go through that. How many times do we talk to somebody where they inherited a house because one of their family members died? That's a, that's a real situation. A lot of you will just pass by that and go, man, I'm so sorry. I've personally never lost my parents, but I watched my wife go through that. It was one of the. Oh, it was horrible watching her still today. Her screensaver. If I were to say, hey, honey, show me your phone. It's either going to be her mother or her father on her screensaver. We're talking five, six, seven years later. I can relate to you. It was horrible with my wife. Her mother and father died and there's still clothes in the closet today. How long ago did your parents die? Sorry to hear that. Dig in. How long did they live in the house? Is this a house you grew up in?
