Real Estate Investing Phone Skills

You have to learn great phone skills in this business if you want to get anywhere. Like it or not, part of this business is sales, and good phone skills are like having good sales skills!

I’m going to give you some good info, and I’m going to talk about what I call – telephone magic. There are certain things you want to do, certain things you don’t want to do, when you are talking to Sellers on the phone.

Learn to “give good phone”!

Put Them On Hold:  The first time you are talking to a Seller,  sometimes they are aggressive, ask too many questions, don’t let you get a word in edgewise etc., and they try to take control of the call.  Go ahead and put them on hold. If you get somebody that is asking too many questions, or questions that you aren’t ready to answer yet, just put them on hold. Every time you put them on hold, they will lose their train of thought, as well as realize you’re not desperate to talk to them.  (which is key!)

And then come back and take off where you left off… It’s a great way to take control of the call politely. For all they know, you DO have another call coming in, which shows that your time is valuable! It is a good technique to use if you have someone that won’t let you get your point across.  It sounds silly, but try it… IT WORKS! Once you get your timing down, it will help you take control of your calls.

Ask “Yes” Questions: Ask “Yes” question before you ask a couple of tough questions. When you are on the phone, get your potential seller in the habit of saying “yes”. One of the things they say about live face to face sales is that when you are talking to someone, keep nodding your head “yes”.  It gets them to subliminally keep thinking about saying “yes”.

Ask a “yes question’ before your tough question. At the beginning of the call, here’s a scenario to use: “Hi this is Nick ,can you hear me okay?” Then, the seller will answer, “Yes”. You ask “Are you calling about the house you have for sale?” And then the seller will answer, “Yes”.  You just really want to get them in the habit of saying “yes”. It’s going to more likely make the call go in your direction.  It sounds minor, but it help… a lot!

Say “If” A Lot: Here are some ways to use the word “if”.  (I said “if word”, not “f word”!) “IF your property is one we decide to work with. “IF your property is at the right price and my partner is interested in it .” “IF there are not too many repairs and it’s something we want put in our program.”

Especially with todays’ buyers market with so many deals out there,  if you use the word “If” a lot they’ll think you may not be interested and lean towards “selling you”. You want your seller to be afraid you are going to say “No, I’m not interested”, and hang up the phone.

You want them to really believe that they need you a lot more than you need them.  And it’s true, we’re helping them out in a jam. By saying “If” a lot, it puts more doubt in their mind that we are not going to actually buy their property.  You are not trying to convince them to sell, they should be convincing you to buy! Once you get that atmosphere on the call, you will have a lot more successful calls and be on your way to getting more deals!

Mirroring: You also want to use mirroring when you are talking to people on the phone. You should reflect back to them the same personality that you sense they have. So, if someone  is talking really fast , you want to talk really fast. If you talking to someone who is old and they are talking very softly and slowly, then you should talk softly and slowly as well. Try to “sound like them”.

People want to do business with people they like, and they sense are like them…someone they have something in common with. If you mirror their personality and reflect it back to them, they are more likely going to work with you. They will like and trust you more and you are going to get the deal over someone else.

Pet the Goldfish: Here’s what I call “Petting The Goldfish.” When you’re making small talk,  maybe they will talk about their kids, or they’ll say something like “I have to make the call quick because I have to pick up our daughter from ballet”. (or something similar) Anything you can catch about their life, their personality, or family situations gives you an opportunity to “pet the goldfish”.  Find something you have in common with them, and point it out, then make “small talk” about it. It will make for a great phone call!

Answer A Question With A Question: Another thing that’s really good in a lot of cases is to answer a question with a question. Sometimes, they are not giving you as much info as you want. So to get them to talk more, when they ask you a question,  repeat the SAME question back to them in the form of a question of your own!

They say, “Would you buy a house that needs lots of repairs?” And you say, “Would we buy a house that needs lots of repairs?”. (REALLY stressing that it’s a question) It’s almost the SAME words, but they’ll elaborate, and explain more of what they meant.  They ask  “Is this something that could be done fast?” And you say “Well, would you need us to get this done fast?” Instantly, they give more info and explain why they want it done fast..

Ask the question back to them that they gave to you and you’ll get a lot more info on what they are thinking and their train of thought.

Other Deals: When you are talking to people, also talk a lot about other deals you are doing. Tel them about other properties you’ve bought and sold in the area.

A “don’t care” attitude: Make sure you come across as if you truly don’t need their deal. If they sense any desperation over the phone, the deal’s dead. So you have to act like you don’t care, you have lots of deals, there are a LOT of people calling you, and you’re just picking and choosing the best.  Again, they should be “selling you”!

I hope these are some great tips that you can use, I use them 100% of the time, and  TEACH these to my people. Here are a few more tips to succeed and get the deal by using phone skills:

  • Take control by asking questions. The person asking the questions is the person in control.
  • “Mirror” the seller/prospect. If they are talking slow and quietly, or fast and loud, do the same.
  • Put the Seller on hold often if you feel they are trying to take control, or won’t let you talk.
  • Listen more than you talk!
  • Don’t be afraid of dead, “silent” spots. The seller may get more uncomfortable and give you more info.
  • Repeat a Seller’s statement back to him as a question. He’ll elaborate.
  • Set a specific time for a return call. Don’t just say “I’ll call tomorrow”.

Now go make an offer!

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One Response to “Real Estate Investing Phone Skills”

  1. I am constantly invstigating online for tips that can help me. Thank you!

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