What Makes You Special?
6 Factors that Raise You Over the Competition
by the Wolff Couple, Brian & Lynette!
There is a lot of money in the world of Real Estate Investing, so of course there is also competition. That competition is sometimes other investors, and in the Pretty House world it’s also realtors. So when someone is trying to sell their house, why would they choose to sell to you over those others?
You only need to get picked by 1-3 sellers per month to make a massive amount of money. How can you beat out the competition? What can you specifically do to get chosen more often? Let’s look at 6 Factors to focus on so you can raise your Conversion Ratio and close the most possible Pretty House deals!
1. Offer Differentiation – We offer something different than other investors or realtors.
Typical investors come in with lowball cash offers, because that’s all they know. But Pretty House sellers will not take 70 cents on the dollar or less. These investors are limited by their model to buying cheap and selling for cash. Yet we offer top price, often full price. Ron LeGrand’s favorite sign now says “Full Price for Your House”.
Realtors offer to sell the house, but with a big commission, they often want it fixed up, and they don’t exactly have a buyer waiting. It’s a lot of hassle for a big “maybe”. Realtors can’t do what we can do – buy the house “as is”, get the deal closed within a few days, and let the seller move on whenever they want! All we need is a little flexibility from the seller to give us some time to pay them off in full.
We have a myriad of strategies and techniques that can fit different situations. We can close with Owner Financing, and if that doesn’t work we can do a Sandwich Lease Purchase. If the house is too rough we can buy it as a Work-for-Equity. If the seller needs to cash out we can even close it as a straight Option.
Our customers need to sell their house. We offer a different way, potentially a much better and easier way for them, than a typical investor sale or traditional realtor sale.
2. Building Rapport – Take the time, the effort, and the “people skills” to Make Friends!
This Factor alone makes all the difference. We love it when we hear our Acquisitionists talking and laughing with customers. We know from decades of experience that those are the deals we have the best shot at. If the numbers work and the customer really likes you, you have a massive advantage over all your competition.
We created a special form, “Rapport-Building Scripts”, because of how crucial this stage of the call is. Rapport-building takes place early in the call, after a brief discussion of the house, and should always include your “Real Estate Investor Bio”. This is a quick few sentences that explains who you are in a positive light, and presents you as credible and friendly. This may be the most important 15-30 seconds of the entire call, so don’t you dare skip it! If you haven’t done it already, write out your Bio and start using it right away.
When you truly “Make Friends” with your Prospects by Building Rapport, it dramatically raises your Conversion Ratio.
3. Proven Scripts – Use the best words to get the best results.
You probably already have ours and Ron’s scripts to close these Pretty House deals. There is absolutely nobody better to provide you with the “Magic Words” to explain what we do and how we do it. Ron has closing call scripts, objection answers, and negotiating lines that have been making him big money for over 35 years (“Is that the best you can do?”)!
Brian actually wrote over 20 screenplays working in Hollywood, he studied Neuro-Linguistic Programming (N.L.P.), and he’s created hundreds of sales scripts over the years! He’s a true expert in writing clear and friendly language that gives Prospects confidence in you, and belief that this deal will work out great for them!
All of ours and Ron’s scripts can be found in our Wolff-LeGrand “What to Say” Script System, available through Global Publishing. When you say the right words in the right order, it makes it easy for sellers and buyers to say “Yes”!
4. Powerful Systems – Easy-to-follow Checklists and detailed Forms keep you on track.
Part of rising above the competition is doing it consistently. You can’t just close a bunch of deals once, and then not maintain good production.
To accomplish that, you need important Systems in place. Many of these Systems are conveniently provided by Global Publishing, including Virtual Assistants to call leads, customized websites, and the “Dreams” CRM Database (see #5 below).
In this business you need Checklists to guide you, and important Forms to follow. These can all be found in our Wolff-LeGrand “What to Do” Manual, which includes the essential “Pretty House Step-by-Step Checklist”.
Checklists and Forms guide you in detail, so you don’t make mistakes that could cost you the deal. Checklists also help you always provide the right guidance to your customers in the most professional way. This is the main component to making sure the deal closes and you cash a big check!
5. Follow Up – Many of your deals come not from the 1st call, but the 3rd or even the 5th call!
When it comes to Follow Up, “The System is the Solution”. When using a Customer Relationship Management (CRM) System, like “Dreams” through Global Publishing, the daily reminders keep you on track. You want to focus on feeding the CRM plenty of fresh leads, then after each contact or message left make sure to set a reminder for the next contact.
For paperwork we created the “D.U.F.U.S.” System (Daily Ultimate Follow Up System), which consists of 3 file racks and several manila folders. It makes sure that there is a place for everything, and everything is in its place. If you don’t have DUFUS, you can get it from us or devise your own. If you have stacks of unsorted leads on your desk, if you are not calling leads back when you should, then you know your system needs attention.
When you Follow Up after a few weeks and your customer instantly recognizes you, it’s a sign you are doing a good job Building Rapport. We had a deal recently where one of our Acquisitionists and both of us personally had to do Follow Up with the seller before we finally got it closed. Follow Up is the key to many profitable deals, and many successful businesses.
6. Schedule – All these other Factors only work if you put in the Time.
Focused hours of effort are what get results. We usually advise our students to Schedule 7-10 hours per week for their Real Estate Investing. In the beginning, 2-3 hours of that should be devoted to Training, including taking good notes from our Conference Calls, and especially Role-Playing our Scripts.
Probably less than 2 hours per week will actually be spent on Opening Calls and Closing Calls with live customers. That should lead to 1-2 Deal Meetings every week, which will take 2-3 hours. The rest of your scheduled hours will go to planning and implementing Marketing, completing paperwork, tracking deals on your CRM, other office duties, and eventually putting on a huge “1-Hour Open House” to sell fast!
When you focus on these 6 Factors that Make You Special, you will differentiate yourself from the competition, and your Real Estate Investing business will rise to levels of great success!