Because You’re Special! – Creative Real Estate Course

5-Million Dollar Script

The Million Dollar Script! This is what you'll use when a seller says they'll at least consider selling their house on terms (take payments) or are curious about how it works. When that happens, just get right to it to determine what to do next.
I've designed this script/form so that you can come straight here and get right to it with the seller. If things go well, it will guide you to the promised land: Setting the appointment! Or to follow up later.
Ready? Let's GO! #PowerTool

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...

Tony's "Magic" Script: "Ok, well, if we can pay a good price for your house, close whenever it's convenient for you, and make this a really easy transaction, what's the LEAST you think you can accept for your house?"

(Enter a number value only)
Ron's Script: "Ok, what's the least you could accept on the price if we can agree on terms?"

"Hmmmm... Is that the best you can do?"

See if you can get them to drop their price. Put that number down here. Do NOT over-negotiate! Leave this blank if they don't come down in price.
(Enter a number value only)

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?"

Yes/Ok

"Well, what's the LEAST you could take down?"

Enter a NUMBER only ($$).
If they give you any pushback, ask "Well, how close to nothing down can you get?"

"How much flexibility do you have with that? Can we get that number down any lower?"

Enter a lower NUMBER here if you can!

3. The Monthly Payment

Whew...Almost there!

(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?"

Mortgage on house

Free & Clear (no mortgage)

Don't know

"I assume you're ok if I just cover your payment, including taxes, insurance, and any association fees until I pay you off?"

Yes

"Ok, what's the lowest monthly payment you could take?"

(Enter a NUMBER only)

"Do you think you might be able to get that down a little bit? Remember-if we're <i>buying</i>, WE would be paying the taxes & insurance! So do you think we can get that down a bit more?"

(Enter a number value here if they can. Leave it blank if they can't. Don't over-negotiate)

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??

Yes, they want to know

No, they didn't ask

"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?)

Yes

"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?"

No, I want what I want! Waaaa!

Yeah, I might have some flexibility (make appt)

"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?"

Yes

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?"

Yes

"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?"

Ok/Yes

They just can't make it.

"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?"

Yes.

No, I really want to meet.

"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?"

Yes!

Not sure/Maybe

"Well, there's really no reason for me to come until you're ready to sell. Do you know when that will be?"

"Ok, should I follow up with you later then? When should we talk next?"

Setting the Appointment!

Moment of Truth Time! Let's go get it!

"All right. Today is DAY. I can come out to the house on DAY1 or DAY2. Which is better for you?"

"Ok, now do you prefer mornings, afternoons, or early evenings? What's best for you?"

Try to schedule a specific time

"Oh - What's your best Email, NAME?"

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.

Set Date for Following-Up (IMPORTANT)!: "Ok, NAME. When would be a good time for me to get back in touch with you to follow up on things? Should I call next week, or would 2 weeks be better for you?"

Add a date to follow up here, then be sure to add this date to your calendar so that you can follow up then.
Most of the deals you will wind up doing will come from the follow-up, so...DO THIS!

"All right...And is there a certain time of day that would be best to call you?"

Ok, and what's your best email address in case I want to send you some information?

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.

Your Information

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)

First Last

Your Email:(Required)

Your Phone #:

Today's Date (When calling the seller):(Required)

Time of call

Hour

Minute

Seller's Information

Seller's Name:

First Last

Seller's Email:

Seller's Phone:

(The number you're dialing to reach them)

Property Address:(Required)

Street Address City State Zip Code

STATUS:

What's the STATUS of this lead?

Appointment set! (Prospect)

Follow Up later (Project)

WACK 'em!! (Suspect)

Other (use your imagination)

For tracking/quick reference

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Yes

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