Posted on: July 04, 2019
WI 287 | Overcoming Objections

 

While there is no shortage of means to close lucrative wholesaling deals, there is an ultimate and foolproof way to close more deals successfully—overcoming top objections from sellers.

If overcoming seller objections is something you find challenging, you’re in for a treat! In this episode, TTP guru and rockstar wholesaler Brent Daniels is joined by wholesaler extraordinaire and CEO and founder of Get It Done House Buyers Inc., Todd Toback.

Todd has been in the real estate and wholesaling industry for so many years now and is highly skilled in sales management, coaching, sales, and entrepreneurship. Not only that, he is also highly skilled in negotiations.

Todd not only shared many wholesaling gold nuggets, he also provided surefire ways to counter the top objections of sellers. If you’re ready to take your wholesaling business to the next level, today’s episode is exactly what you need to hear!

RESOURCES:

The ULTIMATE Way To Do More Deals With Todd Toback

Episode Transcription

Welcome everybody to the show. This show is going to be bananas because you’re going to get both Todd Toback and me. This one is going to be unbelievable. It’s going to be chock-full. The theme of this episode is going to be how to handle objections from the sellers. We can touch on a couple from the buyers but mostly how to handle it from the sellers. A common question that comes up to me all the time on social media, TTP students, Wholesaling Inc Facebook page and YouTube channel is, “How do I effectively handle the objections that I get?” You know as well as I do that there’s only a certain amount of objections that you get.

Knowing how to handle this is going to make or break you. I saw a post. I don’t know if you saw this online but someone said, “I heard of a friend that sent out 10,000 postcards and he did no deals. Direct mail is dead.” I ranted because there’s a lot of information that’s missing there. I don’t care if you’ve got a great marketing source. If you can’t handle objections and don’t know how to compress the timeline, you are dead in the water.

On the other hand, to spin that into a positive thing. If you know how to handle yourself and objections, make the seller feel comfortable, control the conversation and all stuff we’re going to go over, you are going to utterly dominate your competition. The word that I want to talk about is dominate. You’re going to feel good, do good, make money and explode your results.

Todd Toback, you’ve been in this industry for several years wholesaling.

I’ve been wholesaling exclusively since 2012.

2012 when the market was tweaking back up before a lot of the people here reading and/or watching even heard of wholesaling, Todd was doing this in a competitive San Diego mark. It was the first podcast that I had ever heard. I didn’t even know what a podcast was. I had a friend tell me that the whole podcasts are amazing. You get all this information. I was thinking to myself, “I’m going to Google wholesaling podcast.” Your podcast pops up. It’s you interviewing your brother, Tom Krol, pulling and getting him into the business. What was it called?

It was the Do or Die Series, 90 Days To a Life Without Limits.

What were the 90 days? You had 90 days to get his first deal.

I have been trying to get Tom involved in wholesaling for years. He was comfortable. He sold the company and was in this job as the leftover owner. One day, he was like, “They’re going to fire me soon.” He was not caring. He lost his job and went on the verge of bankruptcy. All of a sudden, one day, he’s like, “What about that wholesaling thing going on?” I said, “Let’s do this but we got to go all in.”

He’s like, “What do you mean?” I was like, “We’re going to do it live on the podcast and everyone is going to hear.” He’s like, “No, don’t tell everyone we’re almost bankrupt.” I’m like, “No, we’re telling them.” He is like, “Don’t pull the deadline.” I’m like, “We got to do the deadline.” It worked. Ironically, this urgency and before anyone knew Tom as Tom, he’s under this pressure that put him in a do-or-die situation. Whenever we can put heat on ourselves like that, it’s awesome.

You were the coach of all of us coaches. You were the tip of the pyramid. We all come to you when we have questions on how to be lean in this because you have an incredible business in California. You run it very much like a business. You’re teaching. The way that you train your acquisition managers, disposition managers and the people that work with you is what we’re going to go through, which is getting through that initial. We get it, marketing, talking to people and getting the leads in.

That’s the easy part. The rubber hits the road.

We’re not building rockets. We’re talking to people. Either you’re paying for them to call you or you’re calling them and using your time. You get the leads in. It comes converting it and turning it into income, which is a skill.

You said something awesome. I want to clarify that because whoever is reading this might have missed this. There are sales versus marketing. Marketing is getting the phone to ring. If you’re doing outbound, direct mail or pay-per-click advertising, that’s marketing. If you’re doing cold calling, those outgoing calls, if they say, “Yes,” is the marketing arm. This is the back half. The front is almost like practice. The sales are like, “This is game time. You’ve already spent the money. You got to perform.”

You get a lead coming in. What happens is either they don’t answer their phone or respond to texts anymore. There are maybe five main objections that a lot of people talk about that we experience a lot in our business. “I want more money from a property. I want to get a lot of different offers from a lot of different people. I can’t sell now. I want to wait some time, maybe at the end of the month.”

That’s the killer right there of all wholesale business. “I need more time.”

I’ve never heard of your company. It’s like when you’re starting or you don’t have a brand name. That’s one of those things that we even get. They’re like, “Are you on the better business?” Let’s tackle these one at a time. First, let’s talk about the philosophy because this is something that you’ve put into my head and my acquisition manager. What is an objection truly?

An objection truly is you don’t know. You don’t know what that objection is. It might be a real objection but another time, it may be something different. It might be a smoke screen, a way to push you off or a way that they’re trying to get more offers. The most important thing here in handling the objection is finding out is this the objection?

 

WI 287 | Overcoming Objections

Overcoming Objections: Sellers don’t know how to do business emotionally. They are natural procrastinators who don’t want conflict.

 

A lot of times, sellers are smart. They’re trained whoever mentions a number first loses. I don’t want to hurt this guy’s feelings. If I tell this guy what’s going on, he’s going to take advantage of me. This is the case more often than not. The first thing that you have to ask yourself is, “Is this the real objection? Is this the only objection?” After that, it is going to be maintaining control. We could talk about all three of those.

Off the bat, pre-qualifying is vital, condition, timeline, motivation price. “What is going on here? Is this an actual lead?” There’s a big difference between an objection and a condition. An objection is like, “I want more money for my property.” A condition is like, “I want more money because I have no equity in the house. I owe $300,000. I want $350,000 and it’s worth $250,000.” That’s a condition we can’t get past. Something like, “I want more money or wait for some higher offers,” are objections that we can talk to and see what it is. What is the fundamental part of that?

If you want to talk about objections, we’re going to freeze-frame a little bit if that’s okay with you. That’s important. Part of that is we’re going to discuss a technique that we’ll use. I got five communication techniques that I teach on my No Limit Selling System. I’m going to say, “This is the technique that we used and we’ll handle the objection.” What was the website that we had?

Convert Wholesale Deals. There are going to be more videos in there that are attached to this but also, it’s going to give you an idea of everything that Todd is teaching. It’s a must. This is my coach. You want to freeze-frame a little bit.

Give me an objection and I’m going to tell you what’s going on. This is so important.

Let’s go with the deep one that you say is the killer of all wholesale business. “Todd, I want to sell the property but my sister is living in there. She’s not paying any rent but I need to give her some more time so that she can find somewhere to live, maybe a couple more months.”

We’ve got a major challenge. Everyone’s like, “I’ve got a motivated seller.” You feel good. You’re like, “I got a hot one.” Everyone’s freaking pumped. The problem with this is this will go on for another 2, 3, 4 or 5 years and you could be dead by then. This is the objection where the seller is not giving an objection. They want to do business. The problem is they don’t know how to do business.

Emotionally, they’re attached to this. Sellers get in these situations because they are natural procrastinators. This is their nature. They don’t want conflict. It’s the only reason why they let their sister live there for free for eight months after their dad passed away and left her to both of them. While that often deteriorates, it’s behind in taxes. It’s all true stories. It’s because they’re not able to deal with conflict. What is going to change between the next phone call if you don’t intervene?

Nothing’s going to change. I’m going to keep going along, keep my head in the sand and do whatever. Bills are going to come up. There’s going to be some stress. I’m going to constantly be pushing it off. I’ll probably drink a bunch at home and forget about it.

That’s you as the seller. It’s most acquisition specialists or wholesalers. If you’re a one-man show, that’s fine. You’re doing deals. I’m referring to the person who’s locking up deals with a seller. When people get new, they call up and say, “Oh, great.” You call in a month, “How’s your sister doing? Did you talk to your sister?”

“I haven’t got around to it yet. We’ve got a lot of things, a lot of paperwork issues. I got to talk to the attorney some more. I’ll sell it when I can.”

“Is it okay if I follow up in a month?” How do you know? I want you to get into the mind of the wholesale or the acquisition specialist. How do you feel?

I feel like I’ve still probably got a lead. They’re working some stuff out and go onto the other real hot ones, the real low-hanging fruit and then lock up and focus on those. This one will pop eventually but I need some time a little bit.

We think that but in this business, if you focus on the low-hanging fruit, especially as the market is getting more competitive, you’re toast. What’s going to happen is in month 6, month 7 and month 8, you’ll see this in notes. If you’re keeping a good CRM, this thing is going on for two years and the story has not changed at all.

What we have to work on is compressing this timeline. This is when you’re handling this objection. The seller doesn’t even know it is an objection. In our minds, they want to do business with you but nothing is ever going to change. I don’t want to get too far on topic but this is important because a lot of people have these hot leads like this and are counting their money. They feel good. There’s no urgency. I’m like, “I’m going to get that deal and make a push-out.” The months are huge. It’s pushed out 7 to 8 months. They’re counting that money. They’re looking far out but not at closing revenue. That’s a real problem.

Let’s get into the thick of it. How do we compress the timeline? You want to do something where we talk about getting seller commitments. You must define with the seller what is the next step in pain, staking detail. They might squirm a little bit. If you do, you could do something like I call a cushion, where you can back away and pull away like, “No. I want your help.” We can role play this a little bit. When you think you’re clear, get even clearer. When they get a little pushback from the sister, role play that with them a little bit so they know what to expect in the future. Say, “If your sister doesn’t do this, what are we going to do?” Have them define that.

Here is 1 of 2 things I want to clarify. You’re going to notice that I’m also going to do something called reversing. A lot of times, sellers will control the conversation. You’re going to tell me this and call me back. I’m going to reverse it so I can take back, control the conversation and come into it. That’s 2 out of the 5 communication techniques. Let’s role play.

“Todd, I can’t sell yet. I’m still waiting to get things figured out with my sister. It’s tricky.”
 

You will utterly dominate your competition if you know how to handle yourself and make the seller feel comfortable.

 
“Tell me why that is.”

“She’s going through a tough spot. She needs somewhere to live. She’s trying to get a job. We need to give her some time to get on her feet.”

“I understand that. Tell me, how long has this whole thing gone on?”

“Longer than I’d like to mention.”

“Can you share the details?”

“She’s been going through a tough spot for a few years.”

“How much time do you think you need?” I want you to define this for me. There’s no pressure whatsoever to do business with us. I want to give you an idea. “What is your timeline where you’d like this to be resolved and that’s enough time for your sister?”

“1 month or 2 would be perfect.”

What if you even give her more time? You’re like, “That’s over the top.”

“Six months would probably be over the top.”

“Do you want over the top? What’s the timeline to say this is the drop-dead date I’d want around?”

“I’d say in the next three months.”

“What has to happen for you to talk to your sister and have her commit and move out in the next three months? When would you have to have that conversation and give her that commitment?”

“I’ve been trying to. We’ve had that conversation. She doesn’t do anything. It’s pounded into her head what’s going to happen. We need to move forward. She wants the money from the property as well as I do. She can’t keep it up and it costs more. It needs a lot of work.”

Hopefully, I’m not frying too much. That’s a cushion.

You’re not causing any friction with me. You’re not telling me that I’m wrong in anything or my sister needs to get her act together. You’re not saying, “She’s taken advantage of you, don’t you think?” Some of these things that you might be going through in your head but you’re keeping the conversation going, asking questions and keeping the friction low.

The biggest part of that is I’m cushioning it and keeping the friction low. If I feel like I go overboard, I’ll be like, “I’m trying to help. If it’s not a fit, that’s okay.” You got to sense that. Listen to the voice and say, “No big deal. I’m trying to help.” In that, I’ll say, “You’ve been going over this for two years. Do you think the next time you speak to her that this is going to change?”

“She’s coming around, looking at places, talking to friends and seeing if there’s a room she can rent. She knows that we need to sell this. She wants the money.”

 

WI 287 | Overcoming Objections

Overcoming Objections: Whatever amount you are trying to make now, double it next month.

 

“Would it be fair to set a deadline with her?”

“I guess so.”

“I want you to be fair to your sister. I’d like her to be able to stay there for at least another year or two.”

“No, that’s too much.”

That was something we call the stealth mismatch. “Not a year. What do you think?”

“She’s got to be out in three months.”

What if it was 8 or 9 months?

No.

If she’s got to be out in two months, what do you think would be a fair deadline to give her?

She’s going to need more time. I give her probably a month.

Here we are. “You want more time. Would it be fair to ask you to talk to your sister and give her a deadline of 30 days when you speak to her next?”

“That makes sense.”

“When do you want to speak to her?”

“We’re supposed to see her this weekend.”

“How about we follow up on Monday? You’re going to talk to your sister and give her a deadline. You and I will talk on Monday. Let me ask you a question. We talked about the price. Is there anything else preventing us from doing business besides your sister?”

“That’s it. I’m making sure that we don’t have to fix it up. We can’t repair it. As long as we get that price, we’re good.”

Let me ask you this. When you give her this deadline, she starts screaming and yelling, throwing stuff across the room, going nuts and saying she hates your guts, I’m not saying she’s going to do that but what if she did, how do we handle that? I’m conditioning from the prep room for you. When she does, she’s like, “Todd, warn me about this. I’m ready.

This happens. This is real life. I’m nothing behind the camera. People go through this. We hear this all the time. I love the way that you’re framing and getting commitments from them. I assume some people don’t. Some people are like, “I don’t want to do it.”
 

The killer of any wholesale business is saying, “I need more time.”

 
It works most of the time but not every time. If you can improve your batting average from 100 to 280, it feels pretty good.

“If she acts crazy, I know what to look for. It’s no big deal. If anybody can handle her, it’s me.”

“I have us down on Monday at 10:00 AM. If you get this handled, are we ready to do business on Monday?”

“Yes.”

“It sounds great. I’ll see you Monday at 10:00 AM.” That’s compressing the timeline. What we talk about in the No Limits Selling System is that the foundation, the tears of my acquisition specialist, to me learning this stuff and getting punched in the mouth, those timelines will kill you. Normally in a lot of scenarios, they keep pushing it out and you could be working the same late 2 or 3 years and close it in 6 months.

We had one we were working on where there’s a hoarder. It’s a nice old lady. She was embarrassed and so much fear was associated with this. We said, “When is going to be a good time?” She’s like, “Never.” Getting her to state that actual never got her to commit to doing an $80,000 deal. That was a two-year-old lead that we compressed from infinity. We’ve done it in two years.

You’ve done some big deals.

I like to think they’re big in the wholesaling community but in the commercial, some of them do huge or some guys in San Francisco do massive deals.

You’ve learned through all of these battles and trials that you’re having through several years of these same conversations. Has anybody come up with any new major objections that have stumped you that you’re like, “This is crazy?” It’s like, “I want more money. There’s competition. I need more time. I don’t know who you are.”

There are some bizarre ones where you’re like, “How do you handle this?” You’re never doing business with that guy. Some guys were like, “I won’t do business with three escrow titles. Bring me cash.” That’s a condition and you’re like, “No.”

Weird one, the guy said, “I live out of town. If you send me some money, I can give it into town and sell it to you at that price.”

You’re like, “No. How about this? I’ll send a notary out every for $35. We’ll wrap this out and I’ll bring you some tacos.”

Let’s touch on one other because it’s something that comes up a lot. You taught me this years ago. It’s something that has increased my assignment fees from $12,000 to $27,000. That was anchoring low with the price based on two things. It’s something I talk about on this channel all the time and the show. Certainty and likeability when you’re giving a low price. Speak to the people that maybe haven’t done it or even worse to get through this are real estate agents that are looking to do wholesale that go way high and sabotage themselves the whole time? How do you build certainty and likeability? How do you get big deals?

If you’re a real estate agent, you’re going to need years of therapy to undo your programming. “I’m sorry, send Brent the bill.” I’d say that, kidding. You can certainly do deals. The biggest thing is for a lot of people, the size of the wholesale deal they get is what they’re expecting and think they deserve. They’re like, “I’ve got to make at least ten.” What do you know? All their wholesale deals are the same.

It’s not always the case but a lot of times, it is. Number one is you’ve got to reset your expectations and say, “I want to make $50,000, $100,000 to $150,000 a deal.” Once you do that, you’re going to start negotiating differently in two ways. Number one is that you’re going to have to go lower. A lot of times, we talk about dealing with a seller. They’re not going to give you a number and that happens. You got to go well. What’s low is subjective. What you think you deserve and what you’re going for is going to be determined by how much you want to make. I challenge you. Whatever your number is, double it. The next month, you’re going to double it again.

That’s double the amount that you want to make, not what you’re offering, the amount that you want in your bank account. This is critical. We look at it through the lens of a $25,000 deal. Back before, it was $10,000 and $15,000. We keep increasing. We do fewer deals for sure but they’re bigger and we make more money. Life is much better because, typically, the smaller deals are the ones that take up all your time and are so emotional. There’s a lot of drama. They want to cancel and keep it going.

They regret the deal. I could have gotten the deal from the buyer where the sister-in-law tells them, “You could have gotten more.” A lot of people think they are leaving money on the table. No. You’re not leaving money. You’re getting the number one asset that you have as a business owner. That is a clear mind. A clear mind is going to be more productive. You’re going to be doing more deals. You’re going to feel confident. The business is going to be a lot more enjoyable. Fighting for scraps is not my style. The number of deals, if you listen on Facebook or wherever you have, is BS. It’s the size of your deals, your gross and your net. Your net is the most important number by far.

How do you build up your confidence and certainty? Likeability, people can figure out. If you’re not likable, work on it. The certainty and the confidence scare a lot of people. It’s that whole thing of if it hurts in your gut to offer them that that’s probably a good sign, even offer less. How do you feel confident with a low offer when they won’t give you a price or when you know that you need to be low?

 

WI 287 | Overcoming Objections

Overcoming Objections: You cannot say, “I don’t know.” As soon as you do that, you will feel the power shift and the seller will trust you less.

 

Number one is going to be able to role-play this stuff.

This is ConvertWholesaleDeals.com. TTP, you’re going to source these deals. When you want to convert and close these over and over, you got to look into it. It’s very reasonable.

Where we’re going with that is their skills. When you practice like, “Todd, you’re a natural-born salesperson,” that’s a lie from the pill. You get this by practicing and repetition. Reggie Miller, the guy, was a three-point shooter. I’m like, “He’s such a natural.” Even Steph Curry practices behind the three-point line constantly, millions of times. You’ve got to practice this stuff. Do that, watch these videos over and over again and role play that gives you more confidence.

The other thing this gives you is an edge. It’s something that I talk about being a truth-teller and a truth seeker. When you do this and you’re so blunt with the seller, they all of a sudden trust you, even if they don’t necessarily like the answer. It’s like, “I don’t want to hear that but I like the guy because he’s blunt.” If you’ve got a deal and the seller is like, “I’m thinking about listing it. Some people were like, “After listing with an agent and after fees, cost, repairs and inspection period, we’re going to net to be pretty close.” It’s not going to be close and true unless you’re trying to make this little tiny margin. That’s usually what it is. You’re begging like, “Please do business with me here.” It’s like, “No.”

I use a funny voice because when you do that, that’s how you feel. You feel like a small person begging. You feel pathetic. At least for me, that’s how I used to feel. I used to get beat up when I was used to selling Viagra. The pharmaceutical company used to do that. I used to beg the doctors for their time. I used to sit down and have these rules. I was like, “Everyone liked me in the offices but they weren’t prescribing more of my drug.” I didn’t have respect. That’s what it was.

My mentor taught me this. He’s like, “Be a truth-teller.” When you do that, even though they don’t like the answer, you’ll get what you want most of the time. We say, “If you fix this thing and put it on the market, you’re going to net quite a bit more. Maybe that’s a good option for you.” When you do that, they’re like, “I get that.” That puts you in a position to be a truth seeker. That usually comes back. Truth-teller and truth-seeker is a form of that stealth mismatch because I give you the opposite of where you think I want to go and you come back.

They start flushing out objections like, “No, we don’t have time to do that because of XYZ. My brother needs a kidney and it’s $50,000 I’m getting on the black market in Mexico. I need it tomorrow.” That’s how you do that. When you’re constantly forcing the truth down their throat, you’re going to get respect, have answers and get your way most of the time.

What does that mean? Do you tell them, “This is the price?” If they won’t give you a price, you’ve tried it all and asked them 3 or 5 different ways, what do you do? It’s worth $300,000.

I want to ask five different ways. I like the number five. Why is everything five? It’s because I want you to remember that there are five different things. For me, I’m going to be like, “I’m going to share those five things.” It doesn’t work every time but it works most of the time. “If you do this, you should get a number about 70% of the time. Let’s go over those five and I’ll go back.”

This is in those training videos at ConvertWholesaleDeals.com.

It will cash and close quickly. There was no real estate commission. What would it be the best price you’d accept again if there were no fees to pay?

That’s the first one that you’d ask. They say, “I don’t know.”

Is ballpark number two?

I haven’t even looked in a while. I don’t know. Why don’t you tell me?

What are the neighbor’s houses selling for?

You tell me what you think. What would you pay for?

Can you throw something out there so that I even know that we’re even in the same range stratosphere? That’s going to be fine. All of a sudden, after five, this guy is close to his chest. At this point, I’m going to go a little soft and fast. Remember, I’m going to use the cushion. Let’s say that I could pay $100,000 for the house. I’m going to say, “I could pay $100,000 and don’t pay anymore.” I don’t want to do that. We’ve got some aggressive students who have done that. Kudos to you for having courage. You got to loosen it up a little bit. You got to be able to recover. You can say, “I don’t know. What if I could pay $100,000 ish?”

That’s way too low. I need at least $125,000.
 

With a clear mind, you will be more productive, do more deals, and feel more confident.

 
I thought you had no idea.

I need more than that. $125,000 sounds better.

Is that the best you can do?

It does need a lot of work. Maybe $120,000 is the best I could do.

I’m trying not to be like, “Okay, deal.” You got to slow it down. There should be some friction. The worst thing that I could do is, “Let’s do it. Let’s end the contract.”

After that conversation ends and he’s laying in bed at night, what does he think?

“I could have got more.” We fought for it and said, “I fought for this guy for an hour.” That’s the best you can do.” They got to feel good about it. This whole thing is emotion. If they make common sense, it’s listed with an agent. It’s equity for speed and convenience. The confidence will come with practicing.

You’ve mentioned role-playing twice. Can you role play with yourself? Can you do it in front of the mirror? Can you do it with people in the industry? Do you find role play partners?

The biggest thing is you’ve got to have the discipline to do this. If you’re a solo operator, that means that you’re doing this yourself and that’s okay. Do it in the mirror or with your wife. You’ve got to be a warrior of your craft. Is this a hobby or are you going to be a little warrior? Are you going to go into battle without practicing?

It’s interesting because, for centuries, there have been apprenticeships for every craft. This is the apprenticeship for plumbing or electricity. They still have it. Some of these apprenticeships are years. At the place where I get my haircut, they have to sweep floors and wash heads for two years before they can cut hair, for a job that may be at the max $60,000 to $70,000. $60,000 to $70,000 that they make that year is a lot but we can make that on a deal.

We can make more by practicing more and understanding certain things. It’s powerful if you write down all of the objections that you’re getting regularly. Write out 1 or 2 responses that make sense to you. You can find it on videos or top programs. Memorize those. When they come up, it’s the same thing we talk about with the TTP script. When you call and ask somebody if they would consider an offer on their property, there are only six things that they can say. If there are only six things that they can say, you know how to respond to them.

In the comments on YouTube, I would love for you to start writing down those common objections. I got a little challenge here if that’s okay with you. If you’ve got permission to record calls and you’ve got some call recordings, I would love for someone to post a call in which they got blasted and beat up. This goes back to courage. If you feel like a fool, even better, because for me, that’s the ultimate respect if you’re willing to put that file in the public domain and make sure you’ve got permission to do that. I’ll address that.

If you want to, you can even comment on what you think you did right and wrong. If they go to ConvertWholesaleDeals.com and watch those videos, you can send one of your recordings. Leave in the comments the MP3 file or wherever you want to host it if you know how to do that. If you do that, think about what you can do better and I’ll tell you what’s the best one. I will critique that call. I’ll take the recording, make a new recording on top of that recording and break it apart for the readers.

I’m telling you, this is the master who trains everybody and has been doing it forever. He nets a beautiful amount every single year in San Diego and the surrounding areas in California. This is a huge opportunity. If you’re reading this, come on.

What’s next?

The main thing is the price that I saw and time compression. I don’t know your company or any of those.

Let’s do that. I want to go into any company because this goes back to reversing and control. A lot of times, our time gets eaten up because the seller’s controlling the conversation. This goes part of your state and how you feel about what you’re doing.

When you talk about dominating the conversation, that’s more them directing it and asking a lot of random questions, going off and a lot of things. Correct me if I’m wrong. I don’t think what you mean is they’re answering all my questions and they’re talking a lot. They’re giving me all the conditions, timelines, motivations and all this. You’re like, “That’s what we want from them.” What you’re saying is they’re taking it and going, “How many properties have you bought? How fast do you close? Who’s your title company? Where’s your cash? Where are all these things?”

 

WI 287 | Overcoming Objections

Overcoming Objections: If you can combine knowing what to say and how to say it, you will close many deals.

 

What I mean by that is, ironically, if you are controlling the conversation, you’re doing almost no talking. It’s almost zero and that’s a sign. If you are talking, it’s most likely they’re asking the questions. You are giving them information and not the other way around. That’s a tell-a-tale sign. If you start saying, “I’m a member of the Better Business Bureau. I’ve been in business for several years. We did 100 houses in 1 year,” you’re probably in trouble.

You got to get control of this conversation quickly. Give me a quick objection. Let me show you how I take control. One of the things is that you answer a question with a question or you can use the word, “I don’t know.” I want you to feel the power shift. The first thing that I’m going to do is do it the wrong way and the right way.

“Do you have an A+ rating with the Better Business Bureau?”

“Yes. We signed up in 2015 and have an A+.”

“Can I look that up?”

“Yes.”

“It’s not under some weird name. It’s under your name. What is your name? What’s going on?”

“The name is Get It Done House Buyers Incorporated. We’re a California corporation.” I can’t even handle it. My heart’s skipping a beat but this is real. It’s like I was in the doctor’s office. You feel like you’re providing this customer service because you’re answering all these questions. That’s the worst thing that they need. I have no idea. I know nothing about you controlling the entire conversation and you know the name of my firstborn. Let’s handle this the right way. Take control of the conversation and close this deal. Let’s close it big by closing the deal.

“Do you have a Better Business Bureau rating of A or A+?”

“What do you mean?”

“The BBB does ratings based on good companies.”

“You’re asking me if we’re a member of the Better Business Bureau. We do happen to be a member. Let me ask you, why is that important to you?”

“I want to do business with people that have a good rating.”

“What else?”

“People that are good at what they do.”

“What do you mean by that?”

“Do what you say.”

You want someone who’s going to do what they say. How would you determine that?
 

You need to be a warrior of your own craft. You cannot go into battle without practicing.

 
Whatever’s determined, the contract gets done, the time that it is and I get paid the money that we agree to.

You determine that someone’s going to do what they are going to say by customer testimonials or our interaction together. How would you determine what someone’s going to do?

Usually, testimonials are good.

“Are we at least agreed on the price?”

“Yes. The price is fine. I’ve never heard of your company. I’ve heard a lot of stuff. I’ve read the newspaper and there’s a lot of stuff in the news about people doing scams. I want to make sure it’s not a scam. I want to make sure that we’re doing business with somebody that’s going to do good work.”

“I understand that and I can relate. I had another customer with the same thing. When we bought her house, she was extremely stressed out. Ironically, we got into closing. She did a little bit of homework for us on a video and looked at our testimonials. She talked to our escrow agent. She looked at the California Incorporation and Better Business Bureau. She felt comfortable. As soon as she opened up escrow and the escrow agent called her, it was a huge sigh of relief. She was a huge fan. I know you’re not her. If we can solve all those other issues, are you ready to do business? What do you need for me to feel comfortable?”

“I already feel good. I feel fine.”

“Are you sure? I don’t want you to make you do anything you don’t want to do.”

“No. You’ve answered my question.”

You might be like, “Todd, that’s an exaggeration.” No, I control that.

Honestly, I understand what is going on but I felt that those were reasonable questions. It wasn’t like you were trying some weird, mesmerizing and hypnotizing techniques. You were simply asking questions but what’s important is you have to feel the tone that Todd uses. With the tone that he uses, the active listening that he has and the way that he’s softening it up based on the way that I’m feeling, he doesn’t want to go too aggressive with somebody that is timid.

If you go too aggressive and you’re like, “Why is that? Why do you want to know that? What’s important about that,” that’s so huge. It’s not what you say but how you say it. If you can combine knowing what to say and how you say it, that’s when people start going successful with it and closing a lot of deals.

You could change your tone anytime. Brent, can you share with me why that would be important to you? You can say the same thing, depending on who you’re dealing with. If I’m negotiating with Brent, this thing’s going to be a firestorm. If you’re negotiating with an 80-year-old grandma, that’s going to be a different story. You could mirror and match that.

Todd has changed my life and more people that are millionaires now. It is my pleasure to bring on anything and introduce you to as many people as possible because what you teach, one, is based on the foundation of instruction. You’re not going there for education or entertainment by any means. Two, if people take action on it, they truly can change their lives.

Honestly, thank you from the bottom of my heart. The website is ConvertWholesaleDeals.com. If you want to source those deals beforehand, go to the most proactive group in real estate investing, which is the TTP Program. That is at WholesalingInc.com/TTP. Check out the page. If it feels good in your gut, sign up for a call. Once you want to convert all those, grow your business and team, start converting and get the big deals.

There are also some free videos there too. You don’t have to buy anything. Go there and check it out. No pressure whatsoever. You can say, “No.”

Until next time. I encourage you to talk to people. See you.

 

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