Today just a quick post on overcoming your needy nature when working with sellers. Do you want to become big fat money bat?
This morning I noticed that my VA must not have shown up yesterday.
How do I know this?
Take a look at all of the un-opened and worse, un-answered leads over the last 24 hours from my Gmail inbox above.
I’ll find out why later, but for now…a quick lesson.
People often ask me how I’m able to secure such high margins on my wholesale deals.
And though I know there are a number of reasons, one in particular stands out among the rest.
You see, when you generate an abundance of leads on a daily basis, you’re mindset shifts.
The game is no longer about qualifying leads and trying to squeeze deals out of them.
It becomes about DISQUALIFYING as many leads as you can and only working with the ones that smack you upside the head with a Big Fat Money Bat.
What do I mean? Let me explain…
About 14 years ago, I had a real estate coach who I paid $1,000 per month to mentor and hold me accountable.
We worked together under this arrangement for over 4.5 years…(yes, I paid him over $50k not including traveling and entertainment expenses when I’d go to his seminars and workshops…but it was worth every penny)
And the lesson I’m sharing with you today came as a result of him setting me straight after I was whining about seller’s not doing what I wanted.
He said, “Will, how many leads do you have funneling to you every day?”
I said, “uh, what do you mean?” as if leads funneling to me everyday was an incredibly foreign and unrealistic possibility.
He said, “Look, the reason you’re frustrated with sellers is you care too much about the outcome. You “NEED” the deal. And when you need the deal you give up your power. It’s repulsive really. Think about it”.
He continued, “Check this out, last week I went to a car dealership and couldn’t believe what happened. I was expecting the normal, hum drum sales guy to walk up…ask me what I was looking for and desperately try to steer me to the cars that most closely matched what I described.
Instead what happened…I was immediately greeted by someone who seemed to be the receptionist.
She hustled outside to let me know they appreciated my visit and to please excuse the small wait I might expect from a sales attendant. She continued to explain that because of the hot promotion they were running, customers had been flooding their lot all day….they were practically giving cars away.
uh, do you think I left? hell no!” he said.
“I didn’t leave because I didn’t want to miss out on whatever opportunities there were for me to get a great deal…I was all ears. I also understood that this dealership appreciated my business but certainly didn’t ‘need’ it.
Psychologically, I was hooked…and that’s what you need to do” he said.
“You need to develop systems that generate so many leads that you can cherry pick the ones you want to work with. And this will completely change your attitude.
You’ll no longer ‘need’ to work with anybody and the best part…they’ll feel it. And when they feel it, they’ll be begging to work with you and they won’t even understand why”
It all made sense to me but I had a question… “ok, but I don’t have systems in place yet that feed me tons of leads on a daily basis. How do I do that and what do I do in the meanwhile?” I asked.
“Easy. That’s why you pay me the big bucks, we’ll work on that…but in the meanwhile, I’ll tell you what my mentor told me…fake it till you make it”
“Just understanding this whole concept will automatically cause you to communicate with sellers in a whole new way. You’ll start recognizing where you seem ‘needy’ and immediately adjust. And practice makes perfect son…so get after it”
I couldn’t believe it.
My whole reality had shifted.
I started thinking about all the other areas in my life where I was being repulsive.
Needless to say, from that point forward I experienced a quantum leap in not only my business but also my life.
Where in your business are you being too needy and repelling customers and deals?
What difference will it make in your negotiations next time you shift from neediness to confidence?
I welcome your comments below, love hearing your thoughts…
And lastly, I appreciate all of your likes, shares and shout-outs…thank you.
Now go find your own Big Fat Money Bats!