The Million Dollar Negotiation Script
Jump right in! Start with the MDS, then work your way down to the appointment. You'll add your/seller's info at the end.
1. The Purchase Price
Start here with the BIG number first, then work your way down. See how beautifully it flows this way...
2. The Down Payment
Just keep going...You're doing fine! 🙂
"Ok, well if we're paying that high amount, we usually buy with nothing down. Ok?"
TIP: Say this with confidence & authority, as if you EXPECT them to answer with, "Ok."
Ron's Script: "We usually buy with nothing down. Ok?" 3. The Monthly Payment
(Mortgage or Free & Clear)?
Just click the right button if you already know this. If not, just ask, "Please remind me - do you have a mortgage on the house, or do you own it free & clear?"
"I assume you're ok if I just cover your payment, including taxes, insurance, and any association fees until I pay you off?" 4. TERM
NOTE: Do NOT bring this up if they don't! ONLY discuss this if the seller wants to know how long it will take to pay them off!!
Don't put your own foot in your mouth by volunteering information! ONLY use this if they ask you "How long will it take you to pay me off?" Did they ask you how long you need to pay them off?? "Well, what's the longest you can give us to pay you off?" TIP: If they ask, "Well, how much time do you need?" You can answer with something like, "We usually like to get 30 years, ok?" If they don't object, great! If they do, then negotiate the longest term you can get. 3, 5, 7-10 years is awesome. Again, don't over-negotiate. Just probe for flexibility here. Try to get the longest/best term you can. Enter the longest term they said here. Wrapping it Up... (Do you like these answers & want to make an appointment?) "Well, I appreciate that you're willing to entertain working out some terms with me, but it doesn't look like the numbers make sense for us right now. Are you committed to the answers you gave me, or do you think you might have some flexibility there?" "Ok, That's fine, but it won't work for us at this time. Tell you what... How about I give you a call back in a few weeks to see how things are going...Would that be ok with you?"
OPTIONAL: You can also offer to send them some information and follow up later. IF so, get their email address.
"Got it! Ok, well thanks for your time & good luck selling your house!"
(now get off the phone)
Appointment Script "Great, let's set up a time to meet! Are you the only owner of the house?" "Well, if possible, I'll need all owners present, along with anyone else you need there to make a decision when I come look, ok?" "Well if they're not able to be there when I come look, then maybe we should just wait until they ARE available so that we don't waste each other's time, wouldn't you agree?" "Ok last question: If I come to your house and like it and we can agree on the details, would you be ready to make a decision and get some paperwork done while I'm there?" Setting the Appointment!
Moment of Truth Time! Let's go get it!
"Ok, now do you prefer mornings, afternoons, or early evenings? What's best for you?" Try to schedule a specific time CLOSING: "Ok, we're all set! I'll come out (or follow up) to meet you at the house on DATE at TIME. Do you think you can have all your house papers together for me when I come out? Great! If anything comes up before then, please let me know, ok? All right... Congratulations & I look forward to meeting you and doing business together soon!" Notes or Comments
Add any notes or comments about this lead here.
Setting a Time To Follow-Up This is where you'll set up a time to follow up with the seller who's just not ready to do business with us our way at this time. "All right...And is there a certain time of day that would be best to call you?" After you've made an appointment to follow-up, close the call by saying: "Ok, NAME. I'll follow up with you on DATE to see how things are going. Maybe we can do business then, but if not, I wish you well. I look forward to talking with you again soon!"
Say this, then get off the phone.
If you want to keep this lead & have the info emailed to you (and me), then complete these next sections & send it in. If not, then don't bother.
Your Name: (Required)
Time of call Seller's Information Seller's Name:
(Required) STATUS: What's the STATUS of this lead?
For tracking/quick reference
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