The sign in the yard is very important and you should always put one out unless it’s a condo or a place where you can’t put a sign. If that’s the case, then you just have to deal with not having a sign. But a sign is so integral. I’d say that 25% of all the buyers that we get come from that sign.
So a sign is really important and it lets people know where it’s at. Also when people come to see the property it lets them know which property is there.
In case they don’t want a sign in the yard, you need to talk to them about it and help them understand why it makes sense and why it’s of benefit to them. Even though it’s handwritten and ugly, there’s a reason we do it that way. So help them understand that. We have a method to our madness. There’s a reason that we’re doing all these things.
And if we speak with confidence, then we help them understand why we’re doing it. And most of the time they’ll work with us. But if they don’t agree with us, we have to then decide whether we want to work with them. And the better you get at this, the more choosy you’re going to be about who you work with.
There are important words to remember when you’re thinking about working with a new seller. And those words are “Here is how I work.” It’s about your way or the highway.
If they don’t do it my way, then we don’t do it because I know what works. I’m the expert; I’m the one who has the skill and if you’ll just trust me to do my job, I’ll get it done for us. And that way you won’t have to worry about it.
Don’t nit-pick me over these little things. When they say, ‘I don’t want to put a sign out there.’ Say, ‘Well, I understand that. I can understand why you wouldn’t want to do it, but here’s why we do it and why it’s so important.’ And if they still don’t want you to put a sign out there, you have to make a decision. ‘Do I go ahead and take this deal or not?’
If you’ve never done a deal and you just want to get a memo done, then go ahead and do it. And the chances that you’re going to get it sold are diminished by 20%, 30%, 40%, 50% if you don’t have a sign. And if you have the price wrong, then it drops down to 100% that you’re not going to get it sold. So you’ve got to make sure that your monthly payment price is right.
You’ve got to make sure there’s a sign in the yard. You’ve got to make sure you’ve got a lockbox on the door so that you can show it remotely. This way you don’t have to show up there and spend hours and hours showing the property.
All these things are very important if you’re going to have a sustainable long term business that doesn’t eat up all your time. One of the problems that realtors have is that they have to do all these different tasks that make their job a hundred times harder than ours. And our business is less risky for the seller and a lot easier and safer for us.
We could put together a deal on a whole entire lease option deal in five to ten hours and make $5,000 on it. Whereas a realtor is going to put in many hours over a period of months before they get that property marketed, sold and closed. And then they’ve got to wait for all these other people to give permission.
Everybody involved in the deal has to give permission – The bank, the appraiser, the inspector, the buyer and seller.
If you’re doing the deals the way I’m teaching it, the only people that are involved are you, the buyer and the seller. That’s it. And you’re the one that’s the hinge person, putting it all together and making sure that it’s done properly. That doesn’t mean that you do things haphazardly, it just means that you don’t put people into a risky position unless they understand what they’re getting into.
You always make sure that they’re the one responsible for the value of the home. They’re the one that’s responsible for checking on the condition of the property, not you. And you do that by making disclosures. You make them sign a disclosure form that says they’ve checked those things. And giving them the option to check those things themselves.
We don’t want to hurt them in any way. We want them to be able to follow through, but we also want to make them responsible because it’ll make us more money in the long run. It’ll also make it possible for us to help more sellers and more buyers because we’re doing more deals in that process.
