Yesterday I got a call from a lovely woman who couldn’t pronounce my last name. She said she was calling about a house I sold in 2002. I replied with which one? She didn’t know the address, she didn’t have a sale date, or the city, the only information she had was that I “sold a home.”
I asked her what this was about and she told me that I sold a home in 2002 and “I know your receiving monthly payments. I have some investors who want to give you cash for your monthly payments.
I told her to have her investors call me directly and we could talk. She told me that she was the go between and that her investor wouldn’t talk to me.
I said “ok have a nice day, good luck to you.” She was a little shocked by the answer and asked my why I was hanging up. I said that I like to deal with the money people directly and I’m not interested in talking to a go between. She replied with “your suppose to talk to me that’s how the program works.” I said, “Is that what Russ Dalbey’s people told you?” “Yes, how did you know?”
I get calls like this 2 to 5 times a week from eager beaver Dalbey students trying to buy the notes I create when I sell property. I don’t mind the calls because you never know whom your going to meet on the phone. The problem with this gal and the 50 or so before her, is how they ask their questions.
There are two lessons from this brief conversation that I want you to learn.
1. It’s not what you say - it’s how you say it.
Your phone calls and you face-to-face conversations should always be spoken from the voice of the principle buyer or seller. Never say your representing someone else; you’ll lose your prospect and some credibility. This is why I never make a contract contingent on “partner approval.” Buyers due diligence is about due diligence and marketing, finding money or locating a partner. Don’t scare your prospect away before you even get a chance to propose your offer.
2. Who are you getting your information from?
This woman paid for a list of people who are receiving monthly payments for properties they sold. She didn’t ask how old the list was; who scrubs it, how often is the list scrubbed, etc. The property that she was calling me about was refinance by the buyer in 2004. My note has been paid in full for 5 years but someone is still selling her an old list and we all know that’s wasted money.
There is nothing wrong with qualifying your lead source. If you going to buy notes make sure the information is within 12 months of the sale date. This what I have used to as my criteria and its worked out pretty well.
If you have a list nightmare leave me a comment and if you don’t tell me what you think below.
