The Pitch

Intro

The Pitch is where you begin tying the seller’s motivations and property details to your potential solutions. Your goal is to uncover the property’s condition, identify deal killers, and explore how you can add value to the seller’s situation. This is also where you set the stage for running comps and building an offer later.

By the end of this section, you’ll learn:

1. How to evaluate the property’s condition with open-ended questions.
2. How to identify and address deal killers proactively.
3. How to add value to the seller’s experience to differentiate yourself.

Evaluating the Property’s Condition

Objective: Gather detailed information about the property’s condition to assess its suitability for your portfolio.  

• Start with the Outside:
  Example Questions:
  • “What is the neighborhood like?”
  • “Do you notice a lot of renters or is it mostly owner-occupied?”
  • “Are there any big-ticket items outside, like electrical lines or speed bumps, that might concern buyers?”
• Transition to the Inside:
  Example Questions:
  • “What’s the age of the major systems like the roof, HVAC, and plumbing?”
  • “Have you upgraded anything recently, like the kitchen or flooring?”
  • “If you had $20,000 to spend on this house, what would you focus on?”

Pro Tip: Let the seller lead the walkthrough conversation. If they stall or seem uncertain, gently take over by asking targeted questions.

Identifying Deal Killers  

Objective:  Address potential issues that could prevent the sale before they become roadblocks.

Key Questions:

• Risk or Discomfort:
  “What would you need to figure out before you could actually sell?”
• Relationships:
  “Is there anyone who might be upset about this sale?”
• Timeline:
  “If we came back with an offer that worked for you, when would you ideally want to close?”

Tips for Handling Deal Killers:

• Acknowledge the seller’s concerns and offer solutions when possible.
• Frame deal killers as hurdles you’re willing to help them overcome, e.g., “We’ve helped other homeowners resolve similar issues. Here’s what we can do…”

Adding Value  

Objective:  Differentiate yourself by offering solutions that directly address the seller’s needs.

Examples of Value-Add Solutions:

• Flexibility in Closing Timeline:
  Offer to align the closing date with their personal or financial needs.
• Help with Logistics:
  “Would it be helpful if we handled the removal of belongings you don’t want to take?”
• Stress-Free Process:
  Explain that your process is simple, with no hidden fees or surprises.
  Example Phrase: “Our goal is to make this as easy as possible so you can focus on what’s next for you.”

Avoid Overpromising:

Be honest about what you can deliver. It’s better to set realistic expectations than to risk breaking trust later.