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  • Buy-to-Let

    How to treble your conversion rate when sitting in the vendors house?

    I wrote this model in 1996 - it's for investors that arrange an appointment with a vendor either desperate or motivated (and yes, there is a difference). It's a professional model of the 'sit' in a vendors house to 'close the deal'It hasn't changed since then and I suspect it won't change for the next decade (or two). If you are doing it already and have a better model, then challenge it, if you are new or learning, then learn from it.If you don't understand it, then ask - there will be people on here that do. If it's done properly, your conversion rate will explode, but it takes a bit of practice to master it. There are no gimics, no tricks, it's just a process model.The link to the document is below:http://ning.it/t2PSsO

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    Hi Mark

    Not quite sure I understand the Sit strategy.  Would you mind outlining a brief description of the various stages of the approach?

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    As this takes a little bit to master, let's start with the Prep and Plan stage - what can we do at this stage to ensure we are not wasting our time?

    1. Pull some due diligence,sales and rental comparables from the internet using sites like Rightmove, Mouseprice, Net House Prices, Google Street View, Upmystreet's neighbourhood profile, and form a 'picture' of the property. Then pull the title docs from the land registry to make sure that we are speaking with all of the owners of the property.

    2. Once we've done this, we can then make an appointment with 'both' or 'all' of the owners of the property.

    3. The appointment - what's the best time to make an appointment? Well, on a Tuesday night loads of people go on night classes, Wednesday is half day knock off (for those that still can), Thursday is late night shopping, Friday (not a chance), Saurday, even I don't work.

    That leaves Monday evening and Sunday morning - these are brilliant days to make the appointment because nobody does anything on a Monday night and most of us sleep in our own beds on a Saturday night, therefore a Sunday morning (or a Monday night) apointment suits the vendor. Even the Police use a Sunday morning to arrest people (catch them in their own homes). My father is on the force - nice tip.

    4. So, due diligence and setting the appointment for the 'sit' are the prep and plan. Once we've done this we can then think about knocking on the door.

    I'm sorry that a 'brief' description can't be provided as requested as this, done professionally, takes skill and a bit of practice, however, I will answer any questions - hope it helps

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    Have a read of this, might give an insight to the idea - over 1,000 people have already so it may help

    https://www.scribd.com/doc/24975580/Think-Big-and-Smile

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    Hi Mark and welcome back to PT. I've always kept a keen interest in sales and enjoy hearing different peoples views on it but with zillions of books and audios already out there is there any particular reason you decided to write your own version? Is there anything in there that's different? (just to save me wading through it).

    ps - also just left an update on another thread here for you.

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    Thank you Pat, I wouldn't wade through the maunal if you're experienced already, there's no tricks or shock tactics in there, it's a manual I wrote for training my staff some years ago.

    Having shadowed quite a few people on deals that may have been on 'sourcing courses' or negotiation courses I thought that it's time to reveal what we've been doing and present a professional model. I've seen people trying to hypnotise the vendor with NLP, trick closes in an attempt to baffle the vendor, cheesy intro's that fool no-one.

    One chap told me that if the vendors nodded their head 20 times during his visit, they'd do a deal. This is complete nonsense, someone will nod their head if they agree with a point you're making, there's a whole world away from agreeing the deal.

    Another chap told me that we have to do the deal in the kitchen, because that's the most family friendly room...! Who is teaching this rubbish?

    I didn't jst decide to write my own, we've been using it for years and like I said in my original post, if anyone has a better model, then challenge it. I rely on deals from investors for some of my stock and the deal will fall out of bed if not done correctly. But, it falls out of bed during the 'sit' not six weeks later when you finally get the decision.

    I hope it helps

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    Mark

    Having only had time to read the first 30 pages of your book, I must congratualte you. It's simple good-old fashioned sales advice and it would do anyone good - who is really serious about sitting down and doing deals with prospects. Even though it was written years ago it still makes total sense.

    I personally, feel there arent enough practical help and onsights given here at times, so It's refreshing to see valuable contributions such as this Mark.

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    466 downloads and 180 off this thread - guess it must have been useful then

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    Yes I thought it was intersting too so thankyou Mark
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