It’s an unavoidable truth when investing in real estate; you’re going to have to deal with a wide range of sellers. Some are professional and easy to interact with, while others are full of emotions like fear and anxiety. Dealing with these sellers can be a challenge, especially if they are on the verge of losing their home. Here are some tips for interacting with sellers of all types.

1. Put yourself in their shoes – It sounds cliché, or maybe like something your mother would tell you, but it’s a great thing to remember. A property seller is often in a vulnerable and emotional state. If you approach your interaction with them from a point of empathy and understanding, you may be surprised at how much more productive the exchange is. Do your best to reassure them and to respect their position. Remaining calm when they are emotional isn’t always easy, but it is the mark of a professional.
2. Prepare for questions and objections – If you know some of the more common questions and objections from sellers, you can usually address them to the seller’s satisfaction. Here are some of the more common ones:

“I’ve had other offers for more money.” Response:  “Based on my experience, those offers are higher than the market will support. They may be an effort to distract you from a less desirable part of the offer.”

“I know a Realtor who can help me.” Response:  “Did you know, most Realtors don’t have any experience with this kind of sale (short sale, foreclosure, etc.). I have done many of these and can explain every step of the process.”

“I want to stay in the house.” Response:  “I understand your concern about moving, but I would be wary of any investor who says they’ll allow you to stay and rent your house back. It does not make good financial sense to do this. I find that people are often very relieved to be out from under their house and are able to find a more manageable rental elsewhere.”

1. Have your financing available – Whether you’re doing an all-cash deal, are financing or have a hard-money loan, providing proof of the ability to complete the deal is a huge advantage to a real estate investor. Be prepared to show tangible evidence of just how you will get the deal done.
2. Be professional – A professional demeanor when dealing with a seller will go a long way toward gaining their confidence and trust. If you can show them that you’ve done many deals like this and can make it a painless process for them, they are likely to trust your judgment and your offer.
3. Listen – Often the best thing you can do is listen to a seller’s objections, demands, requests and pleas. If they’re still talking, you’re still in the game.  The more you listen, the more likely you will be able to overcome their emotions and get a deal done. Listening will also give you a far better sense of their situation, and any advantage helps.

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