As You Know, the Real Estate Market Has Taken a Dramatic Change in the Past Eighteen Months

FortuneBuilders Six Week Negotiation Coaching Series Objections Packet #5: BUYER OBJECTIONS BUYER OBJECTIONS PACKET

• Investor Buyer Objections •

Why are you selling this deal if is so good? That is an excellent question. We wouldn’t be selling the home if we had more time to work on the project. Right now we have a couple other projects going on and can’t possibly take on another one right now so that is why we are wholesaling it.

Other Reasons you Could Use: Lack of capital or the house is far away. These can be used depending on the property and the situation.

What do you have the property under contract for? If you have a small spread you should answer the question. If you have a very large spread you don’t necessarily want to answer the question nor do you have to.

I got the property at a pretty good price. I do know there is also plenty of profit left in the deal for you and in fact some of the comps I can give to you will blow you away. I estimate that if you turn this property you could make _____X______. In fact, I am going to email you the comps right now so you can look at them. What is your email address again?

I do not want to give you ____x_____ for a deposit. That is too much. I understand your concern, however I won’t settle for less and that is because I have a promise to the seller right now that I will close in ___X___ days and I would never want to be in a spot where the buyer who is buying it from me decides not to close. I am not suggesting this is you by any means, however if you are serious about working with me and buying this property you would do the same thing if you were in my shoes.

What I really need to know is that you are serious about buying investment property because all other buyers we work with have never questioned the deposit amount.

Here is my low offer and that is the best I can do? I appreciate you submitting an offer; however I know that amount will not be sufficient. In fact, it is much lower than what I know other people will bring to the table so you will have to be more flexible on your price and raise your offer. I assume this is something you have the were with all to do…

The repair cost is more than your estimate? I understand your concern, however every number we have down is based on a contractor estimate we received. In fact, we would be happy to refer to you some of our top contractors so you can get this job done in a timely manner. These are guys we have worked with for years and they are experts at what they do. They also give us wholesale pricing because we are investors. If you treat them with respect they can be an asset to your business for years to come.

I am not ready to tie up all of my capital on this deal. I understand completely as I am an investor myself. Don’t miss out on a deal though because of a lack of capital. What I will do is get you in touch with the hard money lender that we work with and they can get you set up for funding for these types of projects. In fact, what time tomorrow are you available so I can set up a conversation. FortuneBuilders Six Week Negotiation Coaching Series Objections Packet #5: BUYER OBJECTIONS

• Retail Buyer Objections • When Speaking With The Buyer for the First Time

How can I buy a house through your company? That is a great question and frankly it is actually pretty easy and straightforward. What we do is set up a time for you to speak with our mortgage broker because every buyer needs to figure out what price range the

I am just getting started in the home buying process. I understand completely and can appreciate the fact that you are just getting started. Have you been pre-approved by a mortgage broker yet?

Great, are you presently working with a Realtor or has a Realtor shown you any homes yet?

What I will tell you about our company is that we help you in a variety of different ways depending on your needs. First, and foremost we consistently have some of the best real estate deals in the area and so when you buy a home through us you know you will be getting a deal as opposed to paying market value or worse…paying above market value.

We also work with you every step of the way from the mortgage process to the closing to make sure that you have the best possible experience with our company. In fact, many first time homebuyers who have bought homes through us have also come back and bought multiple investment properties as well. Our goal is to make you a client for life and that has been our companies MO from day one.

I am already working with a Realtor? Excellent. I am glad to hear that and something I believe is a very wise choice. Tell me who is the Realtor your working with presently?

How many homes have you looked at?

Excellent, and what price range are you looking to buy in?

Great. Well, here is how I can help you. What we do is buy a number of under market value homes and then we work to match those homes up with buyers like you who are looking to buy a property and get a good deal on it. What I will do is just gather some basic information from you and that way I can get a better feel for what type of property might be a good match. Sound good?

I am already working with a Mortgage Broker? Excellent. I am glad to hear that and something I believe is a very wise choice. Tell me who is the mortgage broker you’re working with presently? Did you shop around for mortgages or have you only talked to ______.

Excellent, and what is the maximum that you qualify for to purchase right now?

Is that the price range you are looking to buy in as well?

Great. Well, here is how I can help you. What we do is buy a number of under market value homes and then we work to match those homes up with buyers like you who are looking to buy a property and get a good deal on it. What I will do is just gather some basic information from you and that way I can get a better feel for what type of property might be a good match. Sound good? FortuneBuilders Six Week Negotiation Coaching Series Objections Packet #5: BUYER OBJECTIONS

• Buyer Objections • When Showing Retail Properties

The house down the street is being offered for less? Well, I don’t doubt there are properties in this neighborhood selling for less and properties that are selling for more. In real estate there are a lot of factors that will determine the asking price of a property.

First, what property are you referring too?

Well, what I do know is that we looked at six other houses before we decided on the final asking price which is considerably less than what we think we can get for the property. Let me ask you this…besides the price is this home something you can envision yourself living in?

There is just one thing I don’t like about the property? Well, that’s good news because if it were 10 things I would be worried. Tell me, what don’t you like about the property?

Okay…well let me ask you this. If would change that one thing would you put in an offer today?

• Buyer Objections • When Signing Contracts

We are just looking? I understand completely and can appreciate the fact that you are shopping around. What I will tell you about this property is that it is one of the few in the area that is priced below market and as a result it will sell very quickly. The reason is that a lot of the comparable properties you might be looking at are priced at least 5 to 10% higher.

Let me ask you this…is there something holding you back from buying at this moment?

I want to make a lower offer? I understand and can appreciate the fact that you are looking to buy a property that has some equity. What I will tell you is that the house you are looking at is already priced below market value. In fact, most of the houses in this area are priced much higher. The reason I know this is because the level of interest we have seen in this property. We have had a tremendous number of calls and showings on the property which indicates it was priced lower than market value. You are of course welcome to submit any offer you want, however if you truly want the house I know that there may be offers that come in higher than yours.

I want to see more homes. I understand completely and can appreciate the fact that you are shopping around. What I will tell you about this property is that it is one of the few in the area that is priced below market and as a result it will sell very quickly. The reason is that a lot of the comparable properties you might be looking at are priced at least 5 to 10% higher.

Let me ask you this…is there something holding you back from buying at this moment? FortuneBuilders Six Week Negotiation Coaching Series Objections Packet #5: BUYER OBJECTIONS

(continued: Buyer Objections - When Signing Contracts)

The market is going to come down some more. I understand completely and can appreciate the fact that you are conservatively looking to buy at the bottom of the market. What I will tell you is that the market has stabilized in this area and we are pretty much at the bottom of the market. I also assume that you are looking to get the best possible deal on a property and that is why I think you might want to really look at this house we have for sale.

This property is one of the few in the area that is priced below market and as a result it will sell very quickly. The reason is that a lot of the comparable properties you might be looking at are priced at least 5 to 10% higher.

Let me ask you this…is there something holding you back from buying at this moment besides the market?

I would like to put less money down? I understand as I would say the same thing if I was in your shoes. We all would like to put less down. What I will tell you is that in today’s lending environment you will most likely not find a lender who is willing to loan you more money than what you have already been quoted.

The great thing is that your monthly payment will be significantly lower when you put more money down. I would hate to see you lose this opportunity to buy this property because of just a couple thousand dollar difference in what you want to put down and what the bank is quoting you.

I don’t want to write a check for such a large down payment? I understand you concern, however anyone selling a property expects a down payment. It is normal for us to collect upwards of 5% down on the property. This demonstrates your seriousness as we will be taking the property off the market as you commence the closing.

We know you are very serious, however we have had buyers in the past who were not and that is why we require a larger downpayment. We have no interest in your deposit…we only have an interest in making sure that the transaction get’s closed. It is our company’s policy.

I would like a longer inspection period? I understand you wanting longer, however we will taking the property off the market for you so we expect things to move rather quickly. Most of the time you can get an inspector out here to the property within two days so 7 days should be more than adequate time for you to get an inspection done.

You bought this house for nothing and now you expect me to overpay? We have put a significant amount of money into this property in order to repair and update this property. You are buying quality craftsmanship here. Let me ask you this…can you see yourself in this property?