If you want to become a successful real estate investor, you need to learn to become a master of the deal meeting. Seeing the homeowner in person and getting everything in writing is the moment of truth. Make sure you’re prepared with advice from the Wolff Couple. We can teach you how to become a real estate investor and make thousands of dollars, and you can see the evidence in the testimonials from our students across the country. We have been leading real estate workshops for 15 years alongside the industry expert, Ron LeGrand, and we want to help you achieve your dreams.
In part one of this series, we went over the basics of preparing for a deal meeting. Making a good first impression depends a lot on appearances, so make sure that you are well-groomed, appropriately dressed, and pull up to the house in a clean and cared for car. You’ll also need a professional portfolio – no plastic folders! – and all the right paperwork. In today’s post, we’ll be going over what paperwork is the “right” paperwork and give you a few tips on how to close the deal and walk away smiling. Check out this week’s featured Wolff Bite to hear Brian break it all down, keep reading for extra tips, and sign up for a Wolff Couple real estate workshop near you to get all of our best advice!
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What You Need
You need to walk into that deal meeting expecting to walk out with a deal, so make sure you are prepared with all the right paperwork. Confidence is essential to success, and it’s easy to feel confident when you know you have a typed contract in your portfolio ready to go. However, you can’t be 100 percent sure of what kind of deal you might walk away with, so you need to have all your bases covered. Here, we’ve listed several of the most important items you need with you, but for the full checklist, make sure you get the Wolff Couple DUFUS System.
Professional Business Cards
You should already have professional business cards — maybe sharing those cards is what got you this meeting in the first place! Bring them with you to your deal meeting because they are an important part of your real estate investment business. Those cards have all your information on them if the seller needs to contact you in the future. They are also something small and easy to share if the person you’re meeting knows anyone else trying to sell their home. If you don’t have well-designed business cards yet, tackle that step first! You can get advice on making effective business cards from real estate guru Ron LeGrand on our YouTube channel and learn everything you need to know about different marketing strategies from our “What to Say & What to Do” system.
A Typed Contract
If you are going to a deal meeting, you and the homeowner have probably ironed out most of the details and decided on a deal that works for both of you. Make it fast and easy to close that deal by coming in with a typed contract. You still have the option of changing a few aspects of the deal if the seller has last-minute objections, but you don’t have to spend the time filling in basics like dates or the property’s address.
A Blank Contract
You should never have two typed contracts. You don’t want to go into the deal with an assumptive close — that can be dangerous. Brian’s advice? Don’t even fill out the address on this second contract. If you pull out another typed contract with different numbers on it, that may throw off the buyer. Leave yourself room to make changes and the ability to make them quickly so you can still close the deal.
The importance of a blank contract is the attitude behind it. You shouldn’t go into this meeting assuming that the seller will agree to absolutely everything in the first contract. You can act surprised if they push back on some details, but you will be ready for anything as long as you keep a blank contract in your portfolio. You should have confidence in the fact that you will close this deal, but also the flexibility to work with the homeowner to make sure that happens.
Five Different Buying Packets
Brian recommends having five prepared buying packets ready to go in your portfolio. Each one should include a standard purchase contract and a lease option contract, since you can’t be sure what kind of deal you’ll need to make. You also need to have an authorization to release information form ready to go.
Get the Full Checklist Today
The Wolff Couple is here with the best advice in the business so that you can walk into that deal meeting with all the confidence in the world. Make sure you have all your bases covered and get the “What to Say & What to Do” System today. We go through everything you need for a deal meeting step by step, item by item, and our real estate scripts will ensure that you and the seller both walk away with your mission accomplished.
Closing a deal successfully depends not just on your what you wear or bring with you, but also the mindset you bring to the table. Mentally prepare for your deal meeting with advice in part three of this series, coming soon! You can also learn it all by attending a Wolff Couple real estate seminar. Contact us to learn more or sign up for a workshop near you today!