The Pre-Negotiation: Base-Setting For The Verbal Negotiations The first thing we’d like to mention — before we dive into the 10 tips that our three experts offered — is about what we call the pre-negotiation. Before you get on a call with a seller for the first time, they have some preconceived notions about who you are, what you do, and what your business is like. They’ve gathered this information unknowingly through your offline marketing materials (direct mail, bandit signs, etc.) and your online marketing materials (your website and digital advertisements) and perhaps through referrals from a friend or family member. Maybe, they come in thinking that you’re desperate for deals. Maybe, they come in thinking that you’re trustworthy and level-headed. Maybe they come in having no idea about what you do but curious about how you might be able to help them. Whatever they believe, for better or worse, it’s a direct result of the brand you’ve created. That’s why building a brand that’s well-respected in your community is so important. It makes sellers more likely to trust your opinions, value your input, and answer your questions honestly — which makes your job as a salesperson much easier. But how do you set the stage for effective and profitable negotiations? Here are some quick tips… Add Credibility To Your Website — When someone visits your website, you want to build as much credibility as possible… as fast as possible. This means including testimonials from past happy sellers, emphasizing the fact that you’re a local real estate investor, showing your online reviews, being honest about your process, and sharing your company’s vision and mission. Video testimonials are particularly effective. Here’s an example from a Carrot member (Carrot websites provide a lot of space for adding credibility and, for that reason, are the highest-converting websites in the industry!)… Set The Tone — With the colors, the words, and even the font you choose for your offline and online marketing materials, you’re creating a tone of voice for your brand. Maybe it’s stoic and professional. Or maybe it’s casual and fun. Or maybe it’s kind and lighthearted. Or maybe it’s hasty and irreverent. Whatever the case, beware of the tone you create… because callers will expect that same tone of voice when speaking with you on the phone. Be Honest — One of the best ways to differentiate yourself from the competition is to be upfront and honest. In fact, being dishonest will almost always backfire. It’s better to tell people who you help and how you can help them so that the right people dial your number in the first place. 1. Don’t Ask For a Price Right Away This first tip comes from John Martinez, the founder of REI Sales Academy. To avoid spending too much time talking to tire-kickers, a lot of real estate investors will ask the seller for their lowest price within the first five minutes of the call. John recommends not doing that. In fact, he suggests that investors focus on price only after you’ve sold the seller on yourself and your business (more on that in the next tip). Why? First of all, once you’ve spoken to the seller about your process and build some trust, the number they gave you initially is probably going to change… so why use it at all? Second, hearing a seller request a high price will usually make the salesperson (you or someone on your team) feel unmotivated to continue the call and they likely won’t operate at the same level of salesmanship. So while it might sound counterintuitive, … Continued