Finding Positive Results For A Homeowner In Trouble

When you’re trying to close a sale, your actual starting point is that first meeting with a client. In the short sale business, that first conversation is your key to helping a homeowner who is in default on their mortgage.

If you’re going to be in sales, the first rule is to find out specifically what their issues and concerns really are before you try to sell them anything. When you understand their situation, you’re in a better position to help everyone get what they want. Every experienced salesperson does that.

In the short sale niche, our clients are homeowners in distress. Generally speaking, their problems are obvious, right? They’re losing their home, and they’re drowning financially. Specifically, though, not everyone has exactly the same mindset about their needs during financial troubles. If you want to work with these homeowners, you need to hit home about what is really bugging each of them personally about their situation.

Once you get to the emotional root of the problem, you can focus on creating the solution that will help them the most. As you’re listening to them talk about their problem, you need to be looking for that win-win somewhere in that awful situation. There is usually a win-win there for both you and the homeowner. Your job is to find it, and then help them see it.

So you let them talk first. Let them tell you their story, and don’t rush them. (You’ll be better off if you don’t interrupt, either.) After they finish speaking – and only after they finish speaking – your next move is to take those specific concerns, point by point, and tell them why your business has the solution to each problem. It’s time to have the Positive Results Conversation.

The Positive Results Conversation gives you the chance to repeat their concerns back to them and explain what you can do to help them with each one. This is also the time to explain foreclosure options and how each option may affect their future.

Once you have gone over the options, the next step is to educate the homeowner about the short sale process. As short sale negotiators, we know that a short sale is the option that best minimizes the damage to the homeowner’s financial life, but most people don’t quite understand how everything works – and some people are very suspicious of things they don’t understand. That’s why we also talk about setting expectations.

There is no substitute for realistic expectations when it comes to getting involved in someone else’s financial business. An informed client who makes informed decisions is so much more likely to be a satisfied client. When you manage their expectations, you increase your chances of seeing the Positive Results Conversation work. When you don’t talk about what can and can’t happen, you risk putting yourself in the position of having to explain some unfortunate events later.

That’s also why you shouldn’t stop the Positive Results Conversation until you’re done explaining everything. The homeowner needs to know about everything in your presentation, or they won’t be able to make a fully informed decision about whether to work with you. If you leave an unfinished conversation, the homeowner won’t realize why your proposal can add value to their financial lives, and it may be easier for them to give up too soon.

Be honest and show them the real you, but at the same time, try to stick to the script for the main points. You should be able to wrap it up in around 90 minutes or less. When you are done, emphasize the positive results of your presentation. They don’t have to run away from the problem; there is a solution. They don’t have to worry about scammers; they have a knowledgeable person on their side.

Want to see the entire Positive Results Conversation? Check out our website, and look for the original Short Sale Manifesto. Our experience has proven that covering every topic on the list really does get positive results for everyone. Then you can get ready to submit their short sale package to the lender.

Remember that this is a presentation we put together from experience. Everything in our Positive Results Conversation is specifically geared toward short sale success, and it has been proven to work over and over again. How will you really know when you get positive results? In your local market, you will become the one that people think of when they need someone who can solve tricky situations with problem properties. Your neighbors will know you as “the short sale expert”!

Need to learn more about talking to homeowners in default on their mortgage? Check out the Strategic Real Estate Coach resource page and start using our short sale success strategies!