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In the spirit of following the Jack Miller / Bill Cook approach…
I knocked on a door this weekend in a high-appreciating neighborhood where I’d like to own a rental. There was an agent-owner sign out front, so as someone said recently, the sign represents an open invitation to have a discussion.
I knocked, the agent answered (lady), and she invited me in to have a look. I learned the following:
- Want to move because the location is too far out of town
- Husband is tall, need higher ceilings that this current house
- Had an opportunity to move earlier in the year, but the desired house contract fell through
- Have a duplex lined up and could move at any time now
- Neighbordhood is quiet, perfect vantage point for fireworks launched from the park
- Probably desire to be cashed out
So basically, not highly-motivated, but getting warm. I didn’t have enough of a rapport to get much more. She kinda balked when I touched upon how much she needed for the next house. I sensed it was getting a bit too personal for where we were in the rapport-building process.
I did ask, “why would you want to sell a beautiful home list this?” as my initial question, so I felt great channel my inner Peter Fortunato.
What should I have done differently?
Is there anything I should do now?
It didn’t seem like there was a deal here because I failed to get any info on the financing, the amount they needed for the next house, and when they needed it. Had they put the house up for sale a couple of months ago, they’d probably have had a buyer quickly.
So there’s my door-knocking experience report. 🙂
Hi William,
You did great for this being the first time. You did get some information about what the situation is and most important, you did it! It will only get better as with everything else, the more you do it the better you will become at it.
Not sure if before you left the house you remembered to say something like “In the event you know someone in the neighborhood that wants to sell, please let me know….I really like this area….” or something along those lines and then give the owner your contact information.
I have not done this in a long time and is looking like is time to get back at it.
Good luck.
RafaelYeah, I actually did do all that.
I wanted to learn more about the neighborhood and she gave great details. I also got a rental range for the neighborhood too.
Yesterday I followed up with one of my postcards with a hand-written note to suggest if they have no luck getting an offer they like, but want to move on with their life and get to that duplex, that I’d make them an offer. Some time later when I’m in the neighborhood, I may follow up, but only probably if I just happen to see them out in the yard.
Earlier in the same session, I got a lot of info out of a new homeowner of a listing that I thought went expired.
And today, several visits to my website. Nothing matters until a deal happens, but it’s progress.
I sent an email to David Tilney to find out of Bill will be in town before or after the Master Lease and Hassle-Free Property Management seminar in September. Unfortunately, the answer was no that Bill will not be in Colorado Springs then. Bill arrived yesterday and will be conducting a group door knocking this Saturday. Even though I’m in Colorado Springs for awhile, unfortunately I will probably not be able to join in this weekend.
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