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Rapport Building Secrets
of Rent To Own Real Estate Buyers
By Charles W. Moore
In Rent To Own Real Estate, the key
is to find a motivated seller.Once we have found the motivated seller and have pre-screened
them over the phone, we set an appointment to see the house.
On the day of the appointment, you
want to call and confirm the appointment so you don’t waste your time driving to
the property and finding out that the seller isn’t there. The only thing you should
take into the house is your business card. Leave everything else in the car.
Ask the seller to show you around
the house. If they tell you to just look around, ask them to give you the nickel
tour. The intent is to view the house with them and build rapport with them.
* People only do Business with people
they Like and Trust. You must make
this connection before negotiating on their most expensive investment.
Look at their pictures and nick-knacks
for ideas to ask them questions to get them to talk to you. Remember, people only
do business with people they like and trust. You can only do this by building rapport.
Let them answer your questions and then respond to what they told you.
Use F.O.R.M. to build rapport:
F: FROM
O: OCCUPATION
R: RECREATION
M: MESSAGE
F:
Q. Where are you guys From? Your Response: “Oh really, I’ve got friends, family
from there…” or “I have visited” or “Where is that?”
O:
Q. What do you guys do? (Occupation) Your Response: “Wow…..I have always wondered
about that.”
R:
Q. What do you guys do for Fun or Hobbies? (Recreation)? Your Response: “I do that
too”, or “I’ve always wanted to do that.”
M:
Q. Where can we sit down and talk?
Once seated, give them your Message,
by asking them Four Questions.
* Let them answer your questions
completely, do not interrupt them.
Again, people only do business with people they Like and Trust! Do you like people
who interrupt you?
#1.
So that I can better help you, tell me again, why are you selling?
#2.
How else have you tried to sell your house?
(What you are doing is reminding
them they have a problem).
#3.
What do you hope I can do here for you today?
PAUSE: You are thinking on how to
help them, let them see your concern and wanting to help them. *Your response is
that you might not be able to buy their house today because of a lack of equity.
#4.
However, I might be able to help you out of your financial problem by making your
monthly payment for a while and cash you out in the future, is that something we
should talk about or probably not?
If they want to talk more then explain
to them you can do a Long term Lease, where your company will Rent the property
for a period of time and in the future you have an Option to purchase the property
at a price they agree upon today. The option will be $10 Dollars which will make
it a binding contact. You will have
the Exclusive Option to Purchase the property in accordance to the terms you agree
to. (That is how Rent To Own Real Estate is done) You will cover most of the day-to-day
maintenance up to $250 and they will be responsible for any maintenance over $250.
You then tell them you will require
a long-term lease of at least 60 months to make it work. You will sublet the property
to a Tenant Buyer and they will be the ones to actually purchase the property in
the future. However, you will be responsible for making the payment to them and
taking care of the day-to-day management. If they agree, you sign a Lease Purchase
Contract that you will Lease the property for up to 60 months and you have the Exclusive
Option to Purchase. Then set up a Lease Option closing with your Attorney.
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About The Author: Charles
W. Moore is a U.S. Army Combat Veteran that began investing in Real Estate in 2001.
He has served as the Vice President of the Capitol City Real Estate Investors Club
of Columbia, SC and formed his first Real Estate Investment Co. in 2003. He owns
several Real Estate Investment Co websites and is now a successful, Full Time Real
Estate Investor, Webmaster, Speaker, and Author. For more detailed information on
Rent To Own Real Estate go to:
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