Podcast

#13 How To Build Instant Rapport with Banks & HO’s

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Summary:

The topic of this episode is approaching homeowners who are experiencing foreclosure and providing them with the knowledge and resources they need to make an informed decision. Dwan enumerates her reliable script and explains the reasons why she has had great results using it and providing homeowners with a helpful and free resource.

Time Stamped Show Notes

  • 4:08 – Dwan is going to talk about how to instantly build rapport, find deals, sell, and close contracts. The first key is to buy from homeowners directly from information obtained from REOs, auctions, and public records.
  • 6:07 – In talking to homeowners, know that they are relieved you are there to help them with their foreclosure problem. Next week, Dwan will talk about recognizing the emotional state of the homeowner, but today, she will outline the script to use in your communication.
  • 6:55 – First, compile your list of people in foreclosure. Then, go knock on those doors, greeting the homeowner by name. By using neuro-linguistic programming, you can use the “repeat, approve, respond” pattern in your conversation to keep the homeowner engaged and at ease. Your side of the conversation should look something like this:

“Hi, Mrs. Smith. How are you today?”

“My name is… I was doing some research and I see that you have a pending problem with your property. I specialize in helping folks like you. What can I do to help you?”

“Oh, you took care of it. Good for you! How are you doing that?”

“You hired an attorney. Interesting. What are they going to do?”

  • 10:58 – When you don’t repeat, approve, and respond, it seems like you are accusing or badgering the homeowner. You can learn more about this in the Flipping Contracts Boot Camp program at Dwanderful.com/flip.
  • 14:03 – Next, you should say something like:

“Has your attorney informed you of the loopholes that will buy you more time to stay in your home? I’d like to give

you this Fed Up with Foreclosure packet that tells you the 10 options you have.”

  • 16:28 – You should be able to recognize the homeowner’s emotional state to know how to proceed if you have practiced your script.
  • 19:38 – For instance, if they say that they are pursuing a loan modification, you could be equipped with the knowledge that 85% of homeowners fail to make all of their payments during the trial period. You can then ask them if they know when the foreclosure sale date is and tell them that you can check in with them during their trial period to see how things are going.
  • 25:48 – By giving them the Fed Up with Foreclosure packet, you are establishing value for yourself and they are likely to call you for assistance.
  • 28:59 – As you are progressing, be sure not to just cut to the chase. You have established value, and they will come to you.
  • 32:13 – Your assignment this week is to practice the process of repeat, approve, respond in the course of everyday life.
  • 34:48 – With Dwan’s knowledge and experience, you can avoid the learning curve and earn $1 million in your first 12 months of investing.
  • 35:53 – When you repeat what the homeowner says, it makes you seem familiar to them. Approving makes them think that you think they make good decisions. Responding helps you guide the conversation.
  • 37:47 – Don’t forget to join the membership club for just $1 for a 14-day trial so you can join Dwan for her LIVE Coaching Call on Wednesday mornings!

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