Title: “From Intent to Impact: Strategies for Successful Real Estate Transactions”
Episode: 217
Are you having trouble connecting with people? Do you have sellers ghosting you?
Our guests for today are Jeremy Beland and Dan Toback. They will give you incredible information about connecting with people. It is one of the best episodes if you want to bring a deal in the door.
Be intentional with every conversation. They give practical steps where there is one text message in this episode that you can send to your database, and you will surely get a deal.
Listen and enjoy the show!
Key Takeaways:
[00:47] Introducing Dan Toback and Jeremy Beland
[02:58] Jeremy and Dan join together to help real estate investors
[06:59] Helping people in real estate investing
[11:02] Heart game vs telling game
[15:54] The person vs the house
[21:13] Verbal commitment
[26:33] The text message
[30:28] Moving the pressure off of the situation
[33:00] Connect with Dan and Jeremy
Quotes:
[08:35] “It wasn’t even about becoming a salesperson. It was about becoming a servant… and being able to identify and be honest with the sellers that didn’t need my help.”
[11:02] “I think that this business, real estate investment, and serving sellers is more of a heart game and internal game versus a telling game.”
[17:33] “Don’t make it about the numbers. As soon as you make it about the numbers, you lose because… there’s no value there.”
Connect with Dan and Jeremy:
Website: https://reifreedom.com/
Tired of living deal to deal?
If you are a real estate investor or business owner who is tired of living deal to deal and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. – David
Transcript:
Speaker 1 (00:00):
I’m going to know what type of transportation, how we’re getting there, the time, and I’m going to ask you to book it in your calendar too. I’m going to book it in mine and I’m going to make sure that space is clear. So it’s an intentionality behind the very next step. There’s intentionality, there’s specifics, and there’s a commitment by both parties. Okay?
Speaker 2 (00:19):
If you’re a real estate investor who’s sick and tired of living deal to deal, then welcome home. Hear from everyday real estate investors just like you, and discover how they’ve completely transformed their business by taking a profit First approach. This is the profit first for REI podcast, where we believe revenue is vanity. Profit is sanity. It’s time to start making profit a habit in your business. So here’s your host, David Richter.
Speaker 3 (00:46):
If you listen to this episode, you will lock up a deal this week. If you are actively in the real estate game and you are having trouble with sellers ghosting you, if you’re having trouble connecting with people on the other end of the line, if you have a bunch of other investors that are vying for the deals that you’re trying to get to. The guys on here today, Jeremy Beland and Dan Toback give incredible information. This is probably one of the best episodes if you want to actually bring a deal in the door. So I can’t wait for you to hear that being intentional with every conversation and they gave practical steps where there’s one text message in here that you could send right now to your database, and I bet you you’ll get a deal, you’ll get a response and you’ll get a deal in there because of the information here.
(01:30):
Thank you so much for listening and enjoy this episode. Hey, welcome to another episode of the Profit First, REI podcast. Have a special guest here, Dan Toback and Jeremy Beland, which we’ve had Jeremy on before. He provided a ton of value. Now we’ve got the dynamic duo here, Dan and his family, they actually just have me on their podcast, so you need to check theirs out. I’ll make sure they give the name of it. Make sure you go over and listen there. They’ve got incredible stuff. But Dan and I are pretty linked up. I am working with Tom Kroll, which is his brother Todd Toback made a big difference in my life back in the real estate days. We were just talking about this, helping us with our follow-up game. I’ve worked with his dad before, so I’m excited to have both of you guys on. Are you excited to be here today? Heck yeah,
Speaker 1 (02:17):
Absolutely. Absolutely.
Speaker 3 (02:19):
Good stuff. Well, I’m excited because you guys are providing a lot of value to the marketplace and I know that you guys actually get results with the people that you’re working with. Just so you know, if you’re listening to this, we work with Jeremy, he’s one of our clients, simple CFO, so we know his business inside and out, so we know that he’s the real deal. If you’re working with us, there’s no hiding anything from us. So that’s where I’m like, these guys are legitimate. So today they actually have a topic too that’s really exciting. I’m going to let them introduce that. But first I wanted to ask, just because I’m curious, how did you guys link up together? How did you guys join forces to help the real estate investing
Speaker 4 (02:58):
World? Yeah, Dan, can I tell the story real quick? I’d love to share the story. So I work with Tom as a coach in my life now, but Tom k crawl, Dan’s brother was my original coach when I came into wholesaling the business. So I started my wholesaling business journey in 2017. I sold my condo, moved my kids into a tiny little apartment, took this little bit of money that I had invested into the wholesaling coaching program with Tom and took whatever little money we had for marketing and went out and got going. We did 10 deals our first year, but after that I was trying to find more, and that led me to Todd Toback. And then I started learning about Todd, and Todd was very instrumental about my growth from year two to three with his sales skills and stuff like that. And then Dan was working as an acquisition person.
(03:45):
So we knew of Dan. We weren’t more social media friends, weren’t really super close, but I ended up growing two businesses, one in Western New York and one in New Hampshire where I had two rockstar acquisition guys that did over a hundred deals. And I coached them up as far as I could with all my acquisition skills, but at this point, there’s nothing else I could do to provide them to get them better. I’m very passionate about coaching, coaching for myself, but coaching for my team, I feel like if you’re not working on getting better, you’re regressing. So how do I get my guys better? Well, I started going on this nationwide search and I couldn’t find anybody out there that had coaching programs specific to off-market acquisitions that could train guys that have done a hundred plus deals and how to get them better. And then I happened to just talk to Tom because I knew Tom was well connected and he is like, Hey, have you talked to my brother?
(04:38):
And I started talking to Dan and all of a sudden Dan’s like, at this time, well, I’ve done well over 500 deals. And Dan was the only guy that I could find that was still actively doing acquisitions, but did that amount of volume in acquisitions. Now there’s companies out there that have done hundreds of deals and thousands of deals, but there’s nobody that’s been in thousands and thousands of thousands of living rooms. There’s just nobody. So we hired him as a coach. He came on my guy sawed, my guy in New York went from like 45 deals a year to 78 in one calendar a year under Dan’s coaching. I mean, he just took off. Both of our guys just went to another level and it was just amazing. And then we decided to come into business together. We ended up closing our New York location because New York’s a very tough state.
(05:24):
We decided to go into business with Florida, but then we decided that Dan has the skillset that very few people have out there, and there’s a need for people who start doing deals that want to get better because the money’s made at the buy, right? We know that about real estate. So when you’re dealing with the stress sellers, there’s a certain sale skills that’s required to buy, right? But also to provide value in exchange for equity in their homes. And Dan is a master at this. I am talking, I’m really good, and I don’t want to sound really pompous or arrogant, but Dan’s at a whole nother level. So that’s how we came together to put our coaching program together. Dan still actively works as an acquisition guy. He locked up four deals last week. I mean, he is a stud among studs. He is the goat when it comes to acquisitions. He’s the, sorry, Dan, he’s a Jeff fan. He’s the Tom Brady of off market acquisitions.
Speaker 3 (06:20):
Oh, that’s great. And you just offended him. And I think we just dropped Dan. I’m just kidding. Dan’s still here. Okay. Now I’ve got to ask Dan, before you get into, I know you’ve got an amazing topic, I want to jump into that. How did you get to be the ninja of the off market deals and doing it love to know that because is this something that anyone can become or is this a special talent? What would you say has gotten you to the point where, I mean, that was crazy what Jeremy just said, like 45 deals, like 78 deals, you’re helping people at a whole nother level. How did you get to that to where you’re able to help that people on that such a high level?
Speaker 1 (06:59):
Absolutely. So first of all, it’s a big blessing. It’s a big blessing to have the history that I have with a lot of the people that I have in my life that have helped me. So my brother, Todd Toback, obviously when I was even still in college, he used to preach to me, Hey, there’s no way you’re going to work a regular job, right? There’s no way you’re actually going to, I ended up going to a regular job, but I wish I went this earlier. I would’ve been successful, but I had to take a few lumps. I went into the shipping and transportation business for three years in the food and beverage sector. Brutal, brutal, brutal, brutal. I wasn’t very good at it. I’m still friends a little bit with my boss on Facebook, so he’s a very awesome guy. But three years I did that, and then I had the opportunity to help Tom Kroll with starting the Florida real estate investment business that he was building. So fast forward, I always had Todd there helping me, coaching me, pushing me to do that. And then I had the opportunity to work with Tom and that side. But I realized, and this is why I always tell y’all out there who are listening, if I can do, if Dan Toback can do this business coming out of the supply chain distribution sector with no sales skills, you can do it. You can do it. Because I went and worked with Tom, and Tom used to say this, you couldn’t close the front door. I would.
Speaker 3 (08:20):
That’s
Speaker 4 (08:20):
Great.
Speaker 3 (08:22):
No,
Speaker 1 (08:23):
I was terrible. And honestly, if he wasn’t my brother, I don’t know if he would’ve let me go that first year. But my first year I met with a lot of sellers. I heard a lot of nos. And it wasn’t until I realized that it wasn’t even about becoming a salesperson. It was about becoming a servant, a servant leader to these sellers that really could use my help and being able to identify and be honest with the sellers that didn’t need my help so that I can get to the right people who wanted to work with me. So back when I first started, similar to the book we were talking about offline, David Rich, dad, poor Dad, if you say the rich Dad versus the poor dad, I almost had to look at myself and say, the worst version of Dan and the best version of Dan, what are the differences? And it wasn’t until I started really dissecting some of those underneath issues I was having in these appointments that I was able to actually turn this around, become very successful by truly serving sellers, being able to become more of a consultant versus a salesperson, being able to walk away from deals that aren’t a good fit and maybe point sellers in a better direction for ones that didn’t really need by service.
Speaker 3 (09:29):
Okay, well, that’s incredible. So what I heard was you had good people in your life, you had good coaches, good mentors, good people around you, which is always paramount and like, okay, do you guys still have coaches in your life or have you stopped? It’s now you guys are coaches?
Speaker 4 (09:45):
No, we have coaches. We have coaches. Well, we have your company financial coach is that we have Tom Kroll as our coach for the coaching company, and we also have Steve Richards, who’s our CFO coach, who helps us run things at a business level and high level acquisition management and things of that nature. So we have three coaches.
Speaker 3 (10:04):
That’s where I wanted to, if you’re listening to this, if you’re going to go to the next level, you need to find the people that are there ahead of you. So it sounds like you guys have had that for your whole career, from Jeremy, from even your first year finding Tom. And then obviously with you, Danny, you’ve got Todd, you got Tom. Tom gave you a chance when you couldn’t close the front door. That was great. And then I wanted to say something else there that I kind of heard was you put a lot of reps in, you put a lot of reps in that first year, getting in front of people, what works, what doesn’t work, and then you figured out, okay, I don’t need to sell. I need to be a consultant and really point them in the right direction. So it sounds like you became a master of that and now you’re helping other people with that skillset, becoming that more consulted type person of like, is this really a fit or not? Is that where you say you ended up in, that’s what you’re trying to transfer or pass on to other people?
Speaker 1 (10:59):
Absolutely. I think that this business, real estate investment and serving sellers is more of a heart game, an internal game versus a selling game. And I feel like you’re not in the right playing field if you come into this trying to be slick or trying to use really fancy, fancy sales skills. Anything I coach or that I put out there, I help people with that are trying to work with sellers, real estate investment, buying homes, it always translates to one or two things, okay? Building rapport and trust with the person across from you, the seller, to actually truly help them and their best interest. And then second, like Tom likes to say, being a truth teller and also being a truth seeker. So always building commitments, always finding out what the true situation is. So serving honesty, serving in honesty. And most the time, if you go to any of, we have a lot of our sales calls recorded, if you were to go through all those sales and coaching calls, typically it translates. Anything we talk about translates to either one, building greater rapport and trust with sellers, or number two, being able to try to seek the truth and also be a truth teller.
Speaker 3 (12:12):
That’s so good. I love that. The
Speaker 4 (12:14):
Way I’ll add this with our coaching program, and it is really because of how we’ve been taught by Todd and Tom and those things, and Dan has taken it and put his own twist and spin on it and because of all his reps and experience, but it really gets just comes down to being a consultant and being a friend. So one of the things that Dan loves, and he told me about this early on, it just stuck with me. Every time he goes on appointment, he’s there to just go make a friend. So he’s going to go in there, he is going to be a consultant, he’s going to consult them. What’s on the best option. That may be us buying their home, maybe us not buying the home, right? He’s going to consult them on that. But he’s also going to be a true genuine friend.
(12:54):
And I don’t know about you guys, but when you have a friend, you want them to be honest, right? You don’t want them deceiving you and selling you, right? You want to have an open, honest dialogue. So Dan goes in the approach where was like, Hey, I’m here to be your friend. I’m going to consult you, but I’m going to be a friend and let’s see if we can do something together. If not, I’m going to lead you in the right direction. So we never sell anybody. If you sell, especially in this industry, you end up chasing a dog. And if you chase a dog, the dog runs away. We want to stop runaway, have the dog chase us because they feel that we are the best option for them. We can provide them the surety that we’re going to be able to help them through the issues. We have the true, genuine, best interest at heart, and we are their friend. And when you do that stuff, you don’t have to sell. They do the selling for you.
Speaker 3 (13:40):
Yeah, I love how Dan, you put that what Tom says, truth tellers, truth seekers, and what you said, Jeremy, of being a friend of really, because you really have to make them feel like your friend for them to tell you the truth, I feel like a lot of the times. So it’s like you got to get them to be truthful because then you’re truthful with them. We really can’t help you, and this is a freaking breath of fresh air in the coaching industry.
Speaker 4 (14:04):
The other thing is David, too. You got to understand, I went through a point in my life where I almost lost everything in foreclosure and bankruptcy, and I was bailed out by a real estate investor that really got me to, I wouldn’t be here today without him back during the recession, right? Story for another day. But that’s really the situation. But it really just comes down to these people are distressed and they have a lot of issues that are going on in their lives, and a lot of ’em are just good people on hard times, but it makes them feel like uncomfortable sharing that information with somebody. They may be embarrassed, ashamed, disappointed in themselves. I went through a great depression during that time. I didn’t want to tell anybody about what was going, I felt like a failure in life. But as somebody who’s trying to be a friend and a consultant, we need to pull that information out of them so we can truly the situation. We don’t know how to provide value without really understanding what the true motivation and true situation is. So being a friend and being a consultant, being a true seeker and a truth teller, allows us to have that open, honest dialogue with a complete stranger and have them open up to us
Speaker 3 (15:09):
Delicate. And this is how you’re cutting that time where a lot of people where Dan, you were out there for a year, Jeremy out there for a year. It’s like you can give them a lot of that knowledge of where you’ve been and what to really get to. I did want, okay, I know we’ve got a main topic, but I have one question that I have to ask for everyone listening. I want to ask you guys, because I’ve asked other people that are in this industry and stuff, and I’m very curious to see your answer. What would you say percentage wise, when you go for a deal, is it the person versus the actual house that you care about and to get a deal or not? What would you say the percentage is? Is it weighted more towards the person or is it weighted more towards the house? What would you put that percentage at?
Speaker 1 (15:54):
Yeah, I would say, well, first of all, that’s an awesome question. Second, I would say 99% the person, 1% the house. Yeah, I would say it’s very little to do with the house. And the reason I say that is because times where it is about the house, if it’s truly just about the house, can mean one or two things. One, you aren’t really truly there to build a rapport relationship with the seller, getting to know them as people because you can’t help someone if you don’t know someone. There’s that. And then second, there’s simply times where you’re just offer number one. And what do I mean by that? So Tom actually talked to me a little bit about this, and you never want to step into a house and be the a hundred grand guy and there’s 150,000 guy, and then the 1 25 guy, he used to say this, you’re the number guy, and that’s just like when your wife, she’s complained to you about fixing the AC and she finally bugs you enough for you to get three people over to give you a quote.
(16:49):
Oh, yeah, honey, there’s the $5,000 guy, 3000, 2000. You don’t truly know them. So what you’re doing is either one, you’re not caring enough, there’s not enough care and concern to nurture relationship with a real person to try to help them. Or number two, you’re so concerned about the number, you’re just really giving a number, talking business, and you’re just going to become the number guy. There’s no relationship there. There’s no helping there serving there. So that’s what you have to be really careful about. So instead, make it about the person, and then you’re going to figure out if you’re the right fit or the wrong fit, and you’re going to be at a deep enough rapport and relationship point to be able to determine one quickly and then move on to the next.
Speaker 4 (17:25):
I couldn’t agree more. Dan is a hundred percent right on that. And to piggyback on that, in our coaching program, when we tell people all the time, don’t make it about the numbers, as soon as you make it about the numbers, you lose. Because what happens, you become, as soon as you like that person, that house needs a new roof, it needs this and this. It’s going to be 150,000. Everybody just draws the line in. The sand gets defensive, and I’m not breaking down, not going to, nobody wins. It becomes a battle about numbers and there’s no value there. Everybody loses, right? So to answer your question, as Dan said, I agree. I mean, it’s real estate. So houses are involved, and no matter what exit strategy is, whether you want to keep them or not, this house is still just a commodity when you’re working with distressed sellers.
(18:09):
We are a people first business. The house is just a commodity that we deal with. So a lot of times when we’re talking to a seller in our even pre-qualifying script, we’re getting information about the house, but it doesn’t freaking matter. We don’t care if it needs a new kitchen, we don’t care about the roof, we don’t care about any of that. We’re asking that to just get some ideas of where they’re going. But the reality is we truly care about what’s going on with them. Why are they calling us? What is going on in their lives? How we can provide value. So it’s all about providing value. Dan is a master at teaching people how to go and provide value and not make it about the numbers. And that’s why Dan has done over 600 deals in 10 years. Personally, he didn’t make remote numbers because if he did, it’d probably be 10 deals in six years.
Speaker 3 (18:51):
Man, I love this. I’ve heard it high before one side or the other, but this is the highest, I’ve heard it like 99% to the person, 1% of the house. I actually love that because it is, it’s about that person. If you’re listening to this, you’re getting gold. This is what they’re teaching you. It doesn’t really matter. The house is there, but it’s arbitrary. It’s like you’re talking to that person, their situation, and does it fit for what you’re providing? And it’s like, then you’re really, really talking to that person. Man, I wish I had this. I wish I had this back in the real estate days. We could have done so many more deals than more profitable deals back then. This is why you should have a coach. This is why you should have someone who’s been there. And honestly, I love this. You’re focused on the person.
(19:33):
So we’ll get to the main topic. This is something that you guys provide, but we’ve had so much gold here already being a truth seeker and a truth teller, making sure that you get the reps in, but with the right reps and the right people in your life. I heard that a bunch of times here becoming the seller’s friend of really caring about them, putting that care and attention on them, only caring about them. 99% waited towards them versus 1% of the house already got gold nuggets, but they came prepared. They want to teach you. When a seller ghost you, what the freak do you do? So tell us what happens. What do you do? Dan has a way to help you get back those people back if sellers are ghost to you. So honestly, I’m very interested in this too, Dan,
Speaker 4 (20:18):
What are the top three ways, brother? What are they?
Speaker 3 (20:22):
Yes, please tell us.
Speaker 1 (20:24):
Well, yeah, no, that’s a fair question. And the biggest thing in this business that I faced when I was starting, and it’s still an epidemic in this business to this day, is a lot of times people will have one conversation with the seller and they can’t get ’em back on the phone. So obviously the first way I’m going to provide is actually going to be a preliminary way to avoid the situation in the first place. The first women provide is going to be almost, I don’t know if I should use the word vaccine, but it’s, it’s going to be a vaccine to prevent it. And then the next two ways are going to be ways that we can get the seller back in our corner to really tell us the truth about what’s going on. And one of those ways just help one of my students close a big deal.
(21:07):
So I’m really, yeah, he did. He’s going to close it, hopefully. So the first way is verbal commitments. And this is something that Todd Toback, I have to thank my older brother on. This one got me really good at, because he always used to preach this to me. He used to always tell me that I’m paddling on the surface. I wasn’t going deep enough. So what a verbal commitment. Sometimes you’ll say verbal contract, if talking to different coaches or mentors out there is simply the very next step with any relationship that you have. So I’m going to give one outside of our industry example, and then I’ll give one in industry. So David, I’m up in Orlando and we have this really casual conversation today. We should grab lunch sometime. I go to Orlando actually next week. We should grab lunch sometime at a place.
(21:52):
Okay, yeah, that sounds good. We get off the phone that lunch is not going to happen. Never. I was never going to happen trying to do small talk with David, so he likes me. I didn’t really mean to go to lunch with him though. We all do that, right? We get to these, yes, a hundred percent. Yeah. If I really want to go to lunch with David Richter though, what I’m going to do is I’m going to say, Hey, David, I’m going to be in Orlando on Friday of next week, and it’s going to be between the hours of 12:00 PM and 1:00 PM I would really, it’s really important to be that we grab lunch. I haven’t seen you in a while, and I’d like to meet you. So does that time, is there some time between 12 and one that would work for you, David?
(22:26):
And then you’re going to either tell me, no, I can’t. Well, if you can’t do it, I suppose I could drop my daughter off at school at this time. We can push it out a little bit. Would later work potentially. Well, yeah, probably two 30. We can grab a real late lunch if that’s still okay. That’d be great. It’s really important that we meet that. I want to see you. So I’m going to put on my calendar 2:30 PM that I’m going to, am I picking you up or are you going to meet me at the restaurant? How are we doing this? I’m going to know what type of transportation, how we’re getting there. The time that I’m going to ask you to book it in your calendar too, I’m going to book it in mine and I’m going to make sure that space is clear.
(22:58):
So it’s an intentionality behind the very next step. There’s intentionality, there’s specifics, and there’s a commitment by both parties. So a lot of times when you’re speaking with sellers or even outsider industry and different businesses, we’re not truly talking with the seller in a way to where we establish a very next commit. We do something just very wishy-washy, very non. We’re afraid. We’re afraid to get that commit be. Why are we afraid this is important to diagnose yourself? Well, I suppose we’re afraid because we may get that they don’t really want to meet us. Well, I’m not ready. I’m not ready to meet. Oh, that’s too early for commitments. Or maybe we’re afraid, right? Because we don’t really know what that meeting is going to look like. We’re actually afraid to meet. We’re afraid to be. We’re good over the phone, but we’re not good in person.
(23:44):
Sometimes it’s vice versa. We’re good in person, not good on the phone, but maybe we’re afraid to get in person at this point. If you’re new, maybe we’re just unsure of the next step. So it’s really important on the phone to be able to build the rapport over the phone, build trust, but also build the next commitment if they’re not ready to meet in person. Why? What’s preventing you, Mr. Seller, from meeting me in person at this point? Would you mind if I asked, is it me? Is it our conversation today? Are you talking with somebody else? It’s really important to know why, and then make another commitment. Maybe the commitments they have to talk to a significant other. Okay, great. Maybe it’s another phone call. Maybe it’s more research. Well, what does research look like to you though? So you always want to define the next step and get a why behind it and then make the next commitment. So that’s almost, like I said, it’s an antidote that’s a vaccine to prevent that next step from ever happening. But the two other ways, unless you guys had questions on the first thing, I want to
Speaker 3 (24:37):
Slow down. Oh, no, that was good. I loved it. Especially once you said intentional because okay, this is the profit first for real estate investing podcast. So we talk about making and keeping money, and it’s the same thing with your dollars. You got to be intentional with those dollars. It’s the same thing with, in order to get the dollars to flow in, you have to be intentional with the conversations that you’re having. I just saw good parallels there, and I like how you said that, the verbal commitments, but you were very specific. That’s another word I picked up on, and I love you put it back to truth. It’s like you’re just getting the truth. Because even if they say they don’t want to commit, they’re at least telling you the truth. Now, you might have to go a little bit deeper of why, of like, okay, is it me? Is it someone else or something? Getting to that, but the truth. So no, I thought that was really good stuff. The antidote, giving them a little bit of that stuff upfront before you get into it.
Speaker 4 (25:24):
It’s funny, I know all this stuff. I’ve heard it many times, but still, when Dan talks, I’m just like,
Speaker 3 (25:28):
Wow. Yes, right?
Speaker 4 (25:29):
Wow. I’m just like, listen, I’m kind of in awe of the greatness. And one of the things that Dan’s really great about when he teaches our students, it teaches our team internally, is really just preventing things before they happen. He’s so experienced with common objections that happen that are notorious in this industry. He knows all the ways to prevent those things from even happening. So calling this a vaccine in just this situation, I mean, Dan knows 20 other ways of vaccines to use another objections that throughout the sales cycle, so to speak. He’s just amazing at preventing things from happening in a negative way. It’s amazing. But Dan, what do we do? If for some reason they still ghost us, even though you’ve done all the right stuff ahead of time,
Speaker 3 (26:11):
Next steps.
Speaker 1 (26:12):
Yeah. The second one I’m going to get again, right to the meat and potatoes is the way that one of my students just saved the deal. And now he has a very, very strong deal under contract because of this method. This one way is usually a text message, but you can also verbalize it if you can get them on the phone. What I like to text though, if you have a seller that hasn’t gotten back to you after you may try to make a verbal commitment as, Hey, Mr. And Mrs. Seller, we’ll just say David’s the seller. I’ll say, Hey, David. Usually when sellers don’t get back to me, usually when, or you say, usually when folks don’t get back to me, it means they’ve changed their mind on selling and are afraid to hurt my feelings. Have you changed yours? So typically, and I’m going to use another outside of industry example, if you don’t mind, to get stuck in people’s head. When I was younger, this happened twice to me. So I’m going to really myself back when in high school I had these dates with these two girls and they ghosted me
Speaker 3 (27:08):
At the same time. No, I’m just kidding. Okay.
Speaker 1 (27:12):
Not at the same time.
Speaker 3 (27:13):
That’s why they ghosted you. Just kidding.
Speaker 1 (27:14):
No, this was within a couple. That’s a great point too. Within a couple of months of each other or something. And I just never heard from ’em. They didn’t go to my school. They were actually at another campus or whatever, and I just never heard back from ’em. Absolutely never heard back. So I’d be like, oh, hey, I hope you’re doing well. Hope everything’s okay. These really weak type of statements just to play. Be naive. I knew it was going on, but I was afraid of actually getting the response that I wanted. Well, no, I didn’t like you, so I’m not going to respond back. So what you do is you always want to ask the question you’re most afraid of. You always want to encourage the boogeyman to come out from underneath the bed. And a lot of times in life, and this is a life thing, I always tell, I used to tell Eddie this.
(27:58):
I told one of our other sales guys this all the time. These are life things. These are not just business related things. These are life things. And when you’re afraid of something, the best thing you can do is ask the question direct to the person, not aggressively, not in a way where you’re being pushy, but in a way to where they truly know it’s okay to tell you the truth. They know they’re in a safe place to tell you the truth. So I usually go with that question, Hey, usually when this happens, it means this. Did you change your mind? Usually when this happens, it means that you’ve changed or you’re afraid to hurt my feelings. Is this what you’re feeling right now? And you could do something along that line. Yeah,
Speaker 3 (28:33):
That’s so good.
Speaker 4 (28:34):
And what’s amazing about that technique is somebody that you probably called a bunch of times and sent a bunch of text messages, all of a sudden response. That happens a lot. And as Dan said with one of our students who were able to pull that deal out of the woodwork again and then put it under contract, this happens a lot in this industry because these people are habitual procrastinators and they have, like Dan said, life events happening to them and they don’t know, or they may not have the courage or confidence or whatever the case may be to handle these things head on, and they just want to hide on the rock and hope it all goes away, which we know it doesn’t. But sometimes that’s the type of person you may be dealing with. So this is a good way to pull that out of them. And Dan does this a lot with great, great success.
Speaker 3 (29:18):
That’s good stuff. No, that’s a great way. Okay, now it’s just us talking here, right? Just kidding. This the podcast. So we work with real estate investors, so we talk to a lot of the real estate investors, and I will say our ghost rate percent is not that high because they like to tell the truth, which is such a breath of fresh air. If you don’t need us, it’s fine. And they’re fine telling that, but you are so right. The seller psychology is a lot different than a real estate investor. They’re like procrastinators or they’re embarrassed. Like you had even said, Jay, back in the day, you’re trying to pull this out of them. They might just not want to tell you this stuff. And I think that’s great. This is the psychology of really getting into what’s going on in their life and how can I make it comfortable for them to say, I don’t like you. I didn’t like the date that we went on together and I don’t want to move forward. So that was good stuff. So what’s number three? What’s the third point?
Speaker 1 (30:13):
Yeah, the third one is actually very, very short little. And this is a way to where you can put the heat back on you versus the seller. And again, the whole purpose of number three is the same purpose for number two is it’s to move the pressure off of the situation to truly let the seller know that it’s not on them if they’ve changed their mind. And I simply put, I got this from Todd Toback again, was it something I said? And that’s all you. And this would be on probably one of the last resorts I would say, and you just leave it right there. Was it something I said? And that’s a way to where you can have the seller open up to text. It’s extremely open because that can mean a lot of things, but it also invites them to critique you in a way where you might not want to hear it, but you need to hear it, right? The truth will set you free. So if you put that, it allows the situation, the conversation to open up tremendously. And oftentimes you can get answers on that. I know I recently had a student in the northeast in New England, he was saying he got some really good success and answers back that way.
Speaker 4 (31:19):
You know why this is genius, David? David, do you like hurting people’s feelings?
Speaker 3 (31:23):
No, I don’t like hurting people’s feelings.
Speaker 4 (31:25):
Most people don’t. And that includes somebody who’s trying to buy their house. They may not want to move forward for some reason, but they’re afraid to tell you because they don’t want to hurt your feelings. Because let’s face it, Dan’s a really nice guy. You may not want to do business for him, maybe because you don’t like the number, or maybe your situation’s changed, but you’re afraid to let people down. And a lot of people, you don’t want to hurt their feelings or let them down. You just avoid it and ghost it. And this allows them off the hook, as Dan says, takes the pressure off the situation, puts it on Dan. And a lot of times they come back and say, no, Dan, you didn’t hurt my feelings. No, no, no. A life event happened. I wasn’t expecting. I’d just been dealing with that or something. Right? So it’s genius.
Speaker 3 (32:03):
And I love what you said, Dan, in point number two, ask the question you’re most afraid of. And that’s a question where if you heard it and you’re listening to this podcast and you heard Dan ask that question and you got a little bit pit in your stomach, you probably know a seller right now, you should be asking that question to that you’ve been putting off and you need to go ask it. So this is probably one of the best podcasts we record to anyone listening to this. I think in lock up a deal, right from this podcast episode, they could literally send that text message out to their base, to their base of past deals or whatever, to other people like that are in their pipeline.
Speaker 4 (32:38):
Well, if they do, David, we want to hear about it,
Speaker 3 (32:41):
Right? Yeah, exactly. Well, and that’s where I wanted to say this is just one section. You took the top three things. If someone goes to you and gave incredible knowledge, so how do people get more of you guys? How do they get, is there a site to go to or if they want to learn more and take that next step?
Speaker 4 (32:57):
Yeah, a hundred percent. Thank you. Yeah, we’d love them. If you guys want to get higher level coaching so you can get more deals, bigger deals, and less cancellations and learn from the best, and I’m talking the best in the industry with off market seals and not somebody who just coaches it, somebody who actively does it every single day with Mr. Dan Toback, come join our small group coaching in the REI Freedom, get us@reifreedom.com. You can get us at the REI Freedom Facebook group. But I’ll tell you what, if you guys come to r ei freedom.com and you guys tell us you heard about us on Profit First and Simple, well, let’s do simple cfo, right? If you come to us and say, Hey, we heard you on David’s podcast, so you go to r ei freedom.com/simple cfo, you come there, we’ll give you a 20% discount to join our coaching program and give you guys, I’ll tell you, even without the discount, it’s the deal of the century.
(33:50):
Dan is going to make you such a big times ROI y, like 10 x, 20 x, a hundred x infinity X on the knowledge that you can learn to get off market deals that you’d be a no brainer. But with the 20%, I mean, we’re almost giving it away. It’s such a no brainer. We hope you guys, if you have interest, you come look at it and listen, if you don’t believe me, just go to our Facebook group and hear all of our students talking praise and his coaching and his success as a result of it.
Speaker 3 (34:15):
So if you have a coach in your life and you’re not satisfied with them, I believe in these guys. And if you don’t have a coach in your life, you need someone. And these are people that, one of the best things I said that I don’t hear a lot of people say, but I absolutely love what Dan said. This is life stuff. This is not sales tricks. Those questions he could have asked those two ladies back in the college days. This is not just for real estate, like, oh, I’m just going to learn this. You are. You’re going to learn how to lock up deals, but you’re going to learn to be a better communicator. You’re going to learn how to communicate better just as a person. So I’ve seen people go through this like what you’re doing right here in your program, and they become better husbands, better wives, better spouses to their people or to the people in their life or leaders on their team being able to handle that. So it’s like there’s so many things that this covers. So that was REI freedom.com/simple cfo.
Speaker 4 (35:10):
You got it buddy. You got it. And then you would come in, you would talk with Dan every single week for a whole year, and imagine what you could learn. Think about what you just learned on this podcast. Imagine listening to that every single week for a year. I mean, just mind blowing, mind blowing. And you’re right. And even other aspects. We’ve had real estate agents that are learning from this stuff. It’s not just we specialize in off market acquisitions, but anybody can benefit. Dan is truly gifted at what he does. We’re really, really lucky to have him. And the more people that can be taught by him, the more good we can do in the world by providing value to sellers in our community and improving our community and helping people like me back in the recession when I lost everything, have somebody to come in to give me a reset button in life so I can then build my life and give a better life for my family. It all happened because of real estate investor. So now not only do we do that in our businesses every single day right now, we can teach people to do that. What’s the compound effect of goodness and value we can provide going forward? It makes me emotional. It’s awesome.
Speaker 3 (36:09):
Yeah. Oh, this is good stuff. Dan. I want to thank you for what you provided here today. Jeremy, thank you as well. There’s so many golden nuggets throughout this whole thing. I did want to say, if you’re listening to this and you’re going to go make money, because if you listen to them just from this podcast, you’re going to make money. Good grief. They gave some awesome information here. Go out, make that money. If you are scared, this question you’re asking yourself that you’re scared to ask, you’re not keeping it. You don’t know how to keep the money, you’re not sure what to do with it when it comes in, how do you be intentional with every dollar head over to simple CFO com. We’ll put a financial coach on your team, A CFO there to help you get to where you need to be as well.
(36:46):
So I’m really excited. So if we could work together, but I want you working with these guys as well. You need to be in there getting the deals done, and they are going to teach you the real way to do it, to connect with a person, with an actual person. And I love what they said, 99% the person. It’s like 1% the actual house. So this is good stuff. So go to rei freedom.com/simple CFO if you want to get linked up with them. And then if you need anything else, Hugh, we are just trying to pump up and these people and the people in the real estate industry that want to help you, thank you so much for listening. Remember to make profit a habit in your business. Dan, Jeremy, thank you so much again, and it was an honor having you guys on here.
Speaker 4 (37:27):
Thanks, man. Really appreciate it. Thanks, David.
Speaker 2 (37:30):
This episode of The Profit First for REI podcast is over, but there are plenty more where that came from. Are you ready to learn how David and his team can help implement the Profit First system in your business? Schedule a discovery call@simplecfo.com right now. We’ll see you next time on The Profit First for REI podcast with David Richter.
