3 Quick Tips to Qualifying a Real Estate Seller Lead Efficiently

The following explanation assumes that you talking to a seller on the phone that has contacted you. You may talk to 15 to 30 sellers before you get a great deal so use the following questions as disqualifiers for each lead.

1. After the initial greeting, ask the seller, “What is your situation?” This question is a direct approach to finding out their motivation. If you need to clarify your question further, you could say, “Well, are you just moving to a different house or out of the area or…” (Now is where you shut up and listen) They will tell you why they are selling at this point.

2. You want to find out about the condition of the property. You might say “What would have to be done to the property for it to be in perfect condition?” If you just get a rough estimate, that will suffice. Beware that most homeowners grossly under estimate how much their house needs in work.

3. Ask the homeowner, “Is there a mortgage on the property?” If yes, you say “Approximately how much is owed?” I seldom talk to anyone that is reluctant to give up this information but if it does happen you could say, “I’m sorry but we cannot submit your property’s information for research without it” (This is another time when you shut up). They will eventually chime in with their mortgage balance.

There are other good questions you could ask, but these will allow you to make the decision, “Trash pile” or “under further review pile.” Do not spend time researching every lead thoroughly. Disqualify as many as possible as quickly as possible. If they aren’t motivated, you shouldn’t be talking to them. If they don’t have sufficient equity, NEXT!

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