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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
SPEAKER_00 (00:07):
What's going on, everybody?
Welcome back to TU in review,this series where I am going to
do a live seller call reviewsubmitted from a titanium
university member today is goingto be Mr.
Jethro Blair.
Jethro joined us in the 35thclass of Titanium University.
(00:29):
So he's very new to us.
He's just a little bit over amonth in the Titanium
University.
And so this is going to be hisfirst ever call review.
So shout out to Jethro forallowing me to put this out
there on YouTube for you guys tolearn from his call review.
Just very similar to last week'scall review with Roger, where I
(00:52):
was like, listen, I'm a littlebit nervous because it is his
first ever call review, meaningthe closer's formula is probably
new to him.
And normally these are the morekind of uh nitpicky call reviews
where there's just subtle littlenuances that we kind of have to
(01:12):
pick on, maybe some languagethat gets used.
So that's what I'm expecting inthis call review.
But it's it's great for youguys, the YouTube audience that
are not inside of TitaniumUniversity, because if you are
newer to using the closersformula or you are using the
closers formula right now inyour wholesaling operation,
these are some of the thingsthat you're going to pick up on
(01:34):
that, hey, maybe you thinkyou're using the skeleton of the
closer formula correctly, butmaybe there's just a word that
you're adding on.
Last week with Roger, it wastell me a little bit about what
you got going on over there withthat property.
Not with the property, and itsteered it, it led the seller
down the incorrect path.
(01:55):
And so I'm assuming that ontoday's call, we're going to see
a little bit of that.
What I'm really going to belooking for out of Jethro here
is is he able to move away fromthe condition and the price and
really try to narrow down andfocus on the seller's pain and
motivation?
Because that's the skill setthat we're really trying to
(02:17):
develop using the closer'sformat.
Can we pay attention to the fourseller buckets?
Identify that there'smotivation, identify if the
price is correct or incorrect.
It's probably going to beincorrect.
If so, can we leverage themotivation down the path of
educating the seller?
That's what we're going to belooking for.
So let's get into our sellercall here with Mr.
(02:41):
Jethro Blair.
SPEAKER_02 (02:56):
Hello.
SPEAKER_01 (02:57):
Hello, is this Lawrence?
SPEAKER_02 (02:59):
Yes.
SPEAKER_01 (02:59):
Hey Lawrence, this is Jethro Blair.
You doing all right today?
Hey, I'm calling about yourproperty over there off Lincoln
Ave.
SPEAKER_00 (03:07):
Look like I told you I was gonna be nitpicky.
And and I still do this everynow and then.
It's kind of just commoncourtesy.
But because this is a callreview and we do want to be
nitpicky, we are callingdistressed sellers, or at least
that's the objective.
That's the the goal, is thatwe're calling someone that is
(03:30):
motivated to sell a piece ofreal estate for a discount.
So you kind of want to avoidasking them, hey, how you doing
today?
Because honestly, there's asolid chance that they're gonna
tell you not good.
And so you you really don't wantthat to happen.
And Jethro, this is coming froma place of experience, brother.
I'm telling you, there's beentimes where I have accidentally,
(03:53):
even though I know I shouldn'tbe asking that, and I've asked
it, and it really backfired onme.
So kind of just move into hey,this is Jethro Blair.
Looks like you filled out a formon my website about selling one,
two, three, main street.
You still looking to sell, kindof roll into that to avoid that
awkward question.
SPEAKER_01 (04:12):
You might be considering some offers on
there.
Is that correct?
SPEAKER_00 (04:17):
Oh man, you did the same thing that Roger did last
week.
We're not at we do not want toask a seller.
Are you looking for offers?
You are immediately removingyourself from that seat of
embracing being the buyer, andyou're you're giving all of the
(04:38):
power and the leverage to theseller to be like, yeah, you
know what?
I am shopping for offers.
What's your offer?
How much are you willing to payme?
Where we want to say, Hey, areyou looking to sell me that
property?
Okay, well, what's your askingprice?
(04:59):
So remove that.
Are you looking for offers andask them, are you still looking
to sell?
And then you roll into, okay,awesome.
How much do you want for theproperty?
SPEAKER_02 (05:11):
Yeah, I'm gonna take an office on.
SPEAKER_00 (05:13):
Say it again.
SPEAKER_02 (05:14):
I'm taking on.
SPEAKER_01 (05:16):
Okay, well, what are you looking to get for it?
SPEAKER_02 (05:19):
Well, you're taking off with that, just see what I
can get.
SPEAKER_00 (05:24):
Exactly.
I yeah, I'm just taking offerson it.
You lost the leverage, that'swhy you didn't get the response
that you wanted right there,because you asked the wrong
question.
Subtle little nuances.
This is what I'm talking about.
So you got to be careful of thelanguage that you use.
It feels like it's not that bigof a deal, but it completely
(05:45):
changes the whole narrativeinside of the conversation.
SPEAKER_01 (05:50):
All right.
SPEAKER_02 (05:52):
Well, did you have a particular number in mind you
like to walk away with or paythem?
(06:21):
So I really don't know yet.
I'm gonna I'm just seeing what Ican get, what I make up my mind.
SPEAKER_01 (06:26):
Okay, well, what kind of offers have you gotten
already?
SPEAKER_02 (06:30):
Well, I had a 260,000 offering that wrong ten
thousand dollar commission.
I tell her, I can't do yet.
SPEAKER_00 (06:38):
All right, so pretty solid recovery right there of
kind of overcoming the themistake.
You kind of doubled down on uh,well, you know, do you have a a
magic number that you're lookingto get?
So we found out how much he owedon the property, and then I was
actually I was I was prettysurprised that you didn't just
(07:01):
roll into, well, tell me whatyou got going on.
You went into what he's alreadytold you, which leads me to
believe that you're you're gonnabe pretty solid at listening and
reacting to sellers.
What other offers have youalready received?
And then shockingly, 260 gotturned down because of a realtor
(07:21):
commission.
Uh this this might be a prettytough one to overcome just based
off of that.
I'm assuming that that number isgonna be not even close to what
we needed at.
They wanted what she wanted overten thousand dollars worth of
commission.
SPEAKER_02 (07:38):
Oh the one I had, she was on had a on uh on the
market about uh uh three weeksago.
I made her take it off mark, andshe was trying to get over.
SPEAKER_01 (07:51):
Oh, I gotcha.
All right.
Well, tell me a little bit aboutthe property.
What you got going on overthere?
SPEAKER_00 (07:59):
Okay, so two little tweaks there.
I didn't quite understand whathe was saying.
It sounded to me like theproperty was on the market.
He received an offer and then hedeclined it because there was
going to be$10,000 ofcommission.
And you kind of accepted thatwith uh, okay, I got you.
I don't think you do.
(08:19):
I don't think you got it.
Because what is he saying?
In order for a property to belisted on the open market, he
had to have signed a listingagreement.
That listing agreement wouldhave outlined the commissions
already.
So he would have already knownwhat he was going to be paying
in commissions before listingit.
(08:40):
So why would that be the reasonwhy he would turn down this
offer?
What did he expect by listing iton the market with a realtor?
So I don't quite understandthat.
And then here, when you say,well, tell me a little bit about
what you got going on, you didit.
You said, well, tell me aboutthe property.
So now you've got to steered himto where he's gonna talk to
about probably the Zillowstatistics, three bed, two bad,
(09:03):
1200 square foot, or thecondition, or both combined.
And it again, we wanted to stayin the the motivation, right?
He he wasn't really wanting totalk about the condition of the
property or anything like that.
So I would rather want to knowwhy he's trying to sell.
Why would he list it on the MLSand then decline this offer and
(09:25):
and not want to sell it?
Because obviously you'd alreadyagreed to sell it with a
realtor.
So I would want to know thatmore than wanting to dive into
hey, it needs paint and kitchenand bathrooms and a new AC.
We can make some assumptions onthat.
I mean, I'm already assumingthis thing needs probably
anywhere between 40 to$50,000minimum and rehab.
(09:46):
So why do I need to go into thatright now, anyways?
And if it was listed, we havepictures online of it.
So we really don't need to knowa whole lot about the property.
That felt like an escapequestion.
I don't know what else to say,so I'm gonna default to tell me
about the property.
SPEAKER_02 (10:06):
Well, just the five-bed room, still by turning
it into turning it into a duplexthat you can't get.
I got two bedroom, bath, halfbath, room.
The kitchen downstairs gotta goout and go around and get to it.
You got three bedrooms, fourbath, kitchen, mid room,
(10:28):
upstairs.
SPEAKER_01 (10:30):
Okay.
Um, I might have misheard you alittle bit, but you said the
kitchen might need a little bitof work.
SPEAKER_02 (10:35):
Yeah, yeah, it is probably a T phone.
Well, like uh, but we need somework.
Like what's about to do.
SPEAKER_01 (10:46):
Okay, give me just a second here.
I'm running some numbers.
SPEAKER_02 (10:50):
You don't need love.
We've been in a house over 35years, it needs some work.
SPEAKER_01 (10:56):
Oh, okay.
So it needs a little bit of loveon it, huh?
SPEAKER_02 (10:59):
Yeah, uh, I lived in a house, I rented it for 30
years.
SPEAKER_01 (11:03):
Well, what were you uh what were you renting it for?
SPEAKER_02 (11:06):
Uh 12 months.
SPEAKER_01 (11:08):
Okay.
You got tenants you got tenantsin it right now?
Oh, go ahead.
SPEAKER_02 (11:13):
Yeah, uh about four years ago.
Okay, so my brother, we went intogether yet.
SPEAKER_01 (11:28):
I gotcha.
Okay.
SPEAKER_02 (11:33):
I moved I moved out about six months ago.
SPEAKER_01 (11:36):
Okay.
So you don't have anybody livingin it right now.
You said you don't have anybodyliving in it right now.
Okay, I gotcha.
All right.
Well, let's see.
SPEAKER_00 (11:52):
See, it's this is kind of a flawed thought
process.
He's not really wanting to talkto you about the property and
the condition and all that.
He he's really trying to talk toyou about why he's looking to
sell this property.
He's telling you a lot ofdetails, but you're getting lost
in the weeds of the underwritingof the deal.
And and I I told you, I couldhave made some assumptions there
(12:15):
on what we were going to needrehab-wise.
And then he comes out and he'slike, Yeah, I mean, it's gonna
need some love.
That's where I'm automaticallykind of defaulting to that
$40,000 to$50,000 in repairs.
I would have already been thereand I could have just stayed in
the pocket of talking about thepain and the motivation.
And right now, look, yourattention is on all these
(12:39):
websites that you're clickingon.
It's probably PropStream andZillow and Google Street View
and the profit calculator.
You're all over the place whenin reality, you could have kind
of just sat back and focused onthe seller's needs and the
motivation.
So, because I'm assuming on thefour seller buckets, this is
motivated but incorrect price.
(13:01):
And so we're gonna have to findout is he motivated enough to
lower that price?
Why, why was the 260 not goodenough for him?
What does he need to walk awayfrom?
Why?
What is that trying to solve?
So we have kind of a surfacelevel motivation, right?
We don't know the painassociated to the number.
(13:22):
We don't know the deeper levelproblem that he's trying to
solve, and we definitely don'tknow the story behind the
motivation or the pain.
And so we're kind of lacking onthat right now, and we're going
down a dangerous path where youare comping and underwriting
instead of trying to engage withthe seller and really listen to
(13:43):
what he is telling you and thethe next open-ended question to
get him to open up about that.
SPEAKER_01 (13:50):
See here.
So we're gonna just a secondhere, sir.
SPEAKER_00 (14:08):
See, this would have been fine if you were doing this
after we had already determinedwhy he was trying to sell the
property.
Um this is this is far too earlyin the conversation for you to
already kind of be in thisplace.
And you're kind offast-forwarding through um
asking him, like, what is hetrying to accomplish?
(14:31):
Because what this leads you todoing is making uh a low ball
offer.
And that's we really want to tryto avoid that at all costs.
SPEAKER_01 (14:41):
So basically, all the systems, you know, the
plumbing, electric, all that ispretty much what it was when it
was first built.
SPEAKER_02 (14:50):
Yeah, plumbing here.
Uh I did put a new eight cityunit in.
It ain't been in so about aboutsix, seven months.
Uh, I put a uh new volume, it'sa bit in that body, uh it'd be
closed for a year.
SPEAKER_01 (15:04):
Okay.
SPEAKER_02 (15:05):
And about uh six and a half years old.
SPEAKER_01 (15:09):
Okay.
unknown (15:11):
Okay.
SPEAKER_02 (15:12):
Oh yeah.
Everybody I talk to, they wantto tear it down.
They they want to build a coupleof them down town houses up
there.
SPEAKER_01 (15:21):
Oh yeah, that's uh that's how they that's how they
do.
That's that's a new wave outthere in Nashville.
SPEAKER_02 (15:27):
So uh I never need a pill.
You can see down town fivemonths and everything on this.
SPEAKER_01 (15:33):
Oh nice.
Very nice.
So you said you owe about 173 onit.
So what do you want to walkaway?
You know, it's becauseobviously, you know, if I come
in with an offer that we bothboth can agree on, um you know,
then obviously you'd have togive 173 of that to what you
owe.
So what are you trying to walkaway with here?
SPEAKER_02 (15:54):
Well, and not only got$15,000 worth of taxes, my
brother.
Oh, it's gonna come out top.
SPEAKER_01 (16:01):
Okay, so we're talking around$190 in total,
then uh yeah, so we're gonna getokay.
All right.
SPEAKER_00 (16:12):
You got you gotta stay there.
You didn't get the the answer toyour question.
You found out that he owes backtaxes, but you gotta double down
your quote.
Well, again, okay, so 190.
So net to you, what do you wantto walk away with?
You gotta get the response.
You can't just accept the he hekind of just avoided answering.
SPEAKER_01 (16:36):
So it's a big property, and if uh people do
some teardown, you know, theytear it down and build those new
townhomes, you know, thosethings sell for a great price
out there.
SPEAKER_02 (16:47):
So yeah, then when they try to do it, I won't tear
it down.
SPEAKER_01 (17:01):
Okay.
Would you mind saying that onemore time?
I'm sorry, I just thought he wasa little poor.
Might be my fault.
SPEAKER_02 (17:07):
I said after I told her I wasn't gonna do it, but uh
go go take it uh 260 with her.
She told me she was gonna try toget the dude to go up to 270.
And and uh I told her uh hewouldn't do it, so he paid out
the deal.
SPEAKER_01 (17:23):
Okay.
SPEAKER_02 (17:24):
So I told I told her to take it out the off the
market.
SPEAKER_01 (17:29):
Okay, did you feel like that 260 was still a little
low?
SPEAKER_02 (17:33):
Can you still talk on the phone?
Yeah, okay.
SPEAKER_01 (17:40):
I said so.
You felt like that 260 was low?
Is that is that why you didn'tgo with her, or was it just
because of the commission shewas going for?
SPEAKER_02 (17:47):
I would have probably written on it if she
hadn't tried to get the uh theuh uh 10,000.
She said it would be a littleover 10,000, like she'd be
getting for commission.
SPEAKER_01 (17:58):
Oh, I gotcha.
SPEAKER_00 (18:01):
So again, he's going back to this whole offer realtor
commission.
Like this is a sticking pointfor him.
So he keeps bringing it up, andit sounds to me like the offer
is 260.
The realtor said, Hey, I think Icould get this buyer to come up
to 270.
I I'm staying right here.
(18:22):
I'm I'm gonna have a deeperlevel conversation about what
really bothered him.
Because I mean, 260, 10,000.
I mean, he's walking away with$60,000 in his pocket.
Why did he choose to walk away?
But again, we don't know whathe's trying to solve by selling
(18:42):
this because we haven't asked.
And so this is you're I don'tknow where you're looking.
Um, and it could just be you'rekind of staring at your screen,
and it could just be likedefault, you're just you're
looking sometimes.
I do that, I'm I'm deep inthought and I'm just looking.
But it looks to me as if likeyou're trying to figure out what
numbers you need to be atinstead of trying to figure out
(19:05):
where does the seller need to beat, and then see if that works.
And if it doesn't, then you canexplain why it doesn't work and
see if he's willing to come downoff of that number.
SPEAKER_02 (19:17):
Okay.
SPEAKER_01 (19:19):
All right.
Well, I mean, considering, youknow, you know, I'm a cash
buyer, we we offer convenience,you know, I can close as quickly
as 30 days.
Um you know, best, you know, wecover closing costs, holding
costs, all that good stuff.
I mean, basically the way itworks is if you and I come to a
good price, um, you know, I'llsend you a contract, you know,
(19:40):
once all in, sign it, once yousign it, I sign it.
We'll take it to title as longas everything's looking good
there.
Um you know, then then we moveforward and and you know, close
in about 30 days.
Is that a good timeline for you?
Are you trying to, you know, doyou need a little bit more time
than that?
SPEAKER_02 (19:55):
Or good timeline for me.
SPEAKER_00 (20:02):
Okay.
All right.
So the this felt this right herekind of shows me a little bit of
the inexperience because we justweren't ready for that in this
call.
We we don't have the answers toall of our questions that we
need, right?
(20:22):
You asked how much how muchmoney do you want in your
pocket?
You didn't get that answer andyou accepted that.
Um, we really still don'tunderstand why he wasn't okay
walking away with sixty thousanddollars in his pocket.
Why did the ten thousand dollarcommission bother him that much
to walk away from sixty thousanddollars in his pocket?
What is he trying to solve byselling this property?
(20:46):
What is his objective of wantingto sell this property?
Why, with whatever offer you'reabout to make, do you believe he
should accept that?
If we don't have those answers,then it's not about us.
Why are we even at the point tostart making an offer here?
(21:08):
We're not, it's just not theright time for that explanation
of our process, uh, becausewe're we just don't even know if
this is a seller that needs ourprocess.
unknown (21:23):
Okay.
SPEAKER_01 (21:27):
Okay.
Well, based on based on an oh,go ahead.
SPEAKER_02 (21:34):
My brother just bought a house in the clock, so
we we won't go and sell it anduh and uh you got a little stuff
in the basement.
You gotta get out.
He can move in, you got itbought out, you can really move
in.
SPEAKER_01 (21:49):
Okay, and you be and you be moving to Crossfield with
him?
SPEAKER_02 (21:53):
What not?
SPEAKER_01 (21:53):
You said you be moving out there with him?
SPEAKER_02 (21:56):
No, I don't really move.
I got small, I'm gonna get to asmall part.
SPEAKER_01 (22:09):
Hey, I apologize, sir.
The audio might be bad.
It could be someone on my end.
I'm not sure, but would you mindrepeating yourself?
SPEAKER_02 (22:15):
Oh, my speaker phone calls I was a workman pick.
SPEAKER_01 (22:19):
Oh, I gotcha.
SPEAKER_02 (22:22):
No, but uh we got work down trying to get the song
right now.
He got I I do all the work.
He gets paid.
SPEAKER_01 (22:31):
Okay.
Well, considering, you know, youwon't have to deal with any of
those realtor commissions or youknow, close, you know, closing
costs, holding costs, anythinglike that.
We cover all that.
Um, and you know, my biggestthing is that I just kind of
offer convenience, you know.
Uh so I would want it kind of alittle bit of a lower price.
Um, I'd probably like to bearound, you know, anywhere
(22:51):
between the you know 190 to 210range.
You know, that's that's kind ofwhere I'm at.
SPEAKER_02 (22:56):
I can't go for that.
I've got a lot of that okay.
I haven't got people offering meon that already.
SPEAKER_01 (23:03):
Okay.
SPEAKER_02 (23:04):
I was already up 260.
I could have got rid of herdeal.
But she tried to get all thatmoney out of me, and I wouldn't
do it.
SPEAKER_01 (23:11):
Yeah.
SPEAKER_02 (23:11):
I ain't I ain't trying to hear it, so I'm I'll I
don't let my house go for alittle night.
SPEAKER_01 (23:17):
Okay.
SPEAKER_02 (23:17):
I know how many cash buy deals out here.
I've been dealing with them forover a year now.
SPEAKER_01 (23:21):
So okay.
Well, so you know, like I said,considering that I cover all
these costs and everything, andall you'd have to do is just
sign a few, you know, somepaperwork or something if if we
did proceed.
Um, what's the best possibleprice you could do for me?
SPEAKER_02 (23:38):
Well, well, like I said, it I got uh my property is
worth it 300,000 or about Igotta I gotta get these close to
it.
Uh like uh 260-270.
SPEAKER_01 (23:52):
Oh, okay.
SPEAKER_02 (23:54):
I can't I ain't gonna let it go for nothing.
SPEAKER_01 (23:56):
No, I know I hear I hear you.
SPEAKER_02 (23:58):
I bought this house one time, and now I'm trying to
find.
SPEAKER_01 (24:02):
Yep.
SPEAKER_02 (24:04):
So I uh I I gotta get somebody up there.
I can't give off weight with alittle nuts.
SPEAKER_01 (24:10):
Yeah, no, I hear I hear you.
Well, all right.
SPEAKER_02 (24:12):
Well fuck you on this here.
I know what my stuff works.
Okay, it's in a good location inyour time, too.
SPEAKER_01 (24:19):
Yep, no, yeah, no, I agree with you.
Bordeaux, that's a nice area outthere.
So, uh, how about this?
Give me about 24 hours.
Let me run a few numbers, see ifwe can get a little bit closer
to what you're looking for.
Um, and uh, how about I give youa call back then tomorrow?
Is that all right?
SPEAKER_02 (24:35):
Yeah, that'll work.
All right, well, hey, man, ifyou don't give me uh just uh uh
text me on some yeah, I canyeah, I can shoot you a text if
that works.
Yeah, if that works out betterfor you, I definitely get a lot
of phone calls and stuff and beout.
SPEAKER_01 (24:51):
All right, well, hey, yeah, no, I'll show I'll
shoot you a text, you know,probably around probably around
this time tomorrow.
So we'll call around three tofour o'clock, somewhere around
that range.
Uh I'll shoot you a text and umyou know, just hey, make sure to
say my number.
My name is Jethro Blair.
SPEAKER_02 (25:06):
Um yes, sir.
SPEAKER_01 (25:08):
That's my personal number right there.
SPEAKER_02 (25:10):
All right, I've I'm logging in.
SPEAKER_01 (25:12):
All right, hey, I appreciate you, Lawrence.
You have a great day.
SPEAKER_00 (25:18):
All right, so we cannot end conversations the way
that we just ended that.
There's two things that justabsolutely crush wholesalers'
businesses, and that's too manyold leads and no new leads.
And you're gonna end up with aCRM just chock full of old leads
if at that at the end of thatconversation, if you were
(25:40):
steering the conversation forhey, tomorrow I'm gonna I'm
gonna shoot you a text.
I'm gonna give you a calltomorrow for what the numbers
aren't gonna change.
260, 270 ain't gonna work if youwere offering 190.
So that's it's it's a dead deal.
(26:00):
Now, I don't know if that leadwas dead on arrival because we
didn't do a good enough job offiguring out what he's trying to
resolve by selling his piece ofreal estate, and so this is
where we've got to go back tothe basics here, Jethro.
Our objective early on is tofind out do you have a property
(26:21):
you want to sell?
He did.
What's his asking price?
We kind of found out that it'ssomewhere in that 260 range,
okay?
That was hard, but that was alsobecause of the mistake where you
said, hey, are you looking foroffers?
You kind of put yourself on theon on the defense there.
Okay, so you're gonna tightenthat up.
We find out his asking price is260, 270, whatever it is.
(26:44):
Then we're gonna dive intomotivation with the open-ended
questions.
This is where you aredetermining the four seller
buckets price and motivation.
I think that he potentially wasin the highly motivated,
incorrect price.
But also he could have beenincorrect price and not highly
(27:07):
motivated.
I mean, he did have this listedon the MLS with a realtor.
He's talking about retail value,he knows what his property is
worth.
And again, we just never askedthe questions to try to figure
out what he was trying toresolve.
And so, because of that, it wasalmost impossible for us to
(27:27):
determine the poor sellerbucket.
So, this is going back to thestructure of the closer's
formula.
If you don't understand whichbucket he falls in, you don't
know how to carry on throughoutthe rest of the conversation.
Now, let's just assume that youdid find out that he was
motivated and it was incorrect,incorrect price, but highly
(27:48):
motivated.
So, what do we do?
We have to educate the sellerbased off of what we need and
how that also accomplishes whathe needs.
We never talk to him about whatdoes he think this property
could be worth once the propertycan be fixed up, right?
It needs a kitchen, it needswork, he knows it needs some
(28:11):
love.
So is that gonna be that$300,000number?
Well, if that's that$300,000 ormaybe it's$350,000, then how
much work does it need?
How did he come up with hisasking price?
We don't know that.
And because we don't know that,we don't know or understand his
(28:32):
thought process on his math.
So we can't that's well, younever explained your math.
You just lowballed him and shotout a number.
You you were selling yourselfthere.
You know, I'm I'm convenient,it's super easy, there's no
commissions.
Who cares about you?
(28:52):
The commission he got an offerfor$260 with a$10,000
commission.
That's$250.
Your no commission is$60,000lower.
That's what he owes on theproperty.
So he's walking away withnothing.
So again, this is why we need tounderstand what was his dot
process behind him coming up tohis number so you could explain
(29:15):
how you're coming up with hisnumber.
This is how we avoid lowballingsellers, is because we could sit
there and say, as an investor,as a wholesaler, this is how I'm
coming up with my math.
How did you come up with yourmath?
Now, again, this seller couldhave very easily fallen into the
bucket of not motivated anincorrect price.
(29:38):
And that's where he should belisting it with that realtor.
He should be paying that$10,000commission.
It wasn't all in commissionseither.
I think that was also closingcosts associated with that.
He was probably justmisunderstanding what was
happening.
But this right here was uh aflawed call from the the kind of
(29:59):
the understanding of what you'retrying to accomplish inside of
the closure's formula.
So, Jethro, moving forward, whatyou need to understand is this
type of seller right here, inorder for you to get good at
closing these deals, right?
And it's gonna be a smallpercentage that you ever
actually close with theincorrect price, but you have to
(30:22):
understand if they're evenmotivated.
Because otherwise, you're justgoing to end up making a ton of
lowball offers with noexplanation, and that's not
gonna get accepted very often,especially from the person that
has their mindset on a higherprice.
What value did you bring?
(30:43):
What understanding it wasn'texplained to them?
So you got to be very careful onthis.
In this call, I would have livedin the pocket of trying to
understand what he was trying toaccomplish.
Why was he willing to walk awayfrom that$60,000?
And honestly, that would havedetermined whether or not he was
motivated or if he was.
And that's why I'm kind of stuckon that point because that's the
(31:06):
the whole um item that's missingfrom this call.
Is like we just don't know.
And so you got to go back intolike, hey, the lab a little bit
here, kind of revamp some ofthese calls tonality-wise,
personality-wise, you soundgreat.
You sound you sound confident,you got to carry the
(31:27):
conversation really well forbeing newer at this.
It's just you got to understandthe the psychology behind the
the way the closure's formula isworking, and I can see that it's
still kind of newer to you.
That's okay.
Like this is why we've got toput in those daily reps.
It's why you've got to submitthese call reviews.
(31:48):
I get that this isuncomfortable.
It's not meant to be.
Growth doesn't come from beingcomfortable.
So thank you for sharing thiscall.
Thank you for going live withother TU members here, you know,
putting yourself out there, likeyou're putting in those reps.
I see that you're on Jamil'slive here, which means this is
specifically for guys that are,you know, working W-2s and
(32:10):
they're doing this part-time.
So, man, you're probably bustingyour ass.
You know, you're you're goingout, you're working your job,
you're coming in, you're puttingin your dials.
Keep putting in that workconsistently, but give yourself
an opportunity to taste thatsuccess by diving deeper into
the pain and the motivation.
Watch those modules ofunderstanding the importance
(32:34):
behind the four seller buckets,that determines how the rest of
the conversation is going to go.
That's really where you messedup on this call.
But overall, brother, I'mlooking forward to seeing that
growth over the next severalmonths, seeing how you can get
better at this and utilizingyour God-given natural abilities
there and your personality.
(32:54):
Because I could definitely seehow once we kind of tighten up
some of these questions and thethought process, you're going to
be absolutely fine.
Show Jethro some love in thecomments for submitting this for
you guys to learn.
It's uncomfortable for them,it's uncomfortable for me, but
that is how we grow together.
So show Jethro some love.
Make sure you like today'svideo, and we'll see you guys
(33:17):
tomorrow.
What's going on, everybody?
Welcome back to TU in review,this series where I am going to
do a live seller call reviewsubmitted from a titanium
university member today is goingto be Mr.
Jethro Blair.
Jethro joined us in the 35thclass of Titanium University.
(00:29):
So he's very new to us.
He's just a little bit over amonth in the Titanium
University.
And so this is going to be hisfirst ever call review.
So shout out to Jethro forallowing me to put this out
there on YouTube for you guys tolearn from his call review.
Just very similar to last week'scall review with Roger, where I
(00:52):
was like, listen, I'm a littlebit nervous because it is his
first ever call review, meaningthe closer's formula is probably
new to him.
And normally these are the morekind of uh nitpicky call reviews
where there's just subtle littlenuances that we kind of have to
(01:12):
pick on, maybe some languagethat gets used.
So that's what I'm expecting inthis call review.
But it's it's great for youguys, the YouTube audience that
are not inside of TitaniumUniversity, because if you are
newer to using the closersformula or you are using the
closers formula right now inyour wholesaling operation,
these are some of the thingsthat you're going to pick up on
(01:34):
that, hey, maybe you thinkyou're using the skeleton of the
closer formula correctly, butmaybe there's just a word that
you're adding on.
Last week with Roger, it wastell me a little bit about what
you got going on over there withthat property.
Not with the property, and itsteered it, it led the seller
down the incorrect path.
(01:55):
And so I'm assuming that ontoday's call, we're going to see
a little bit of that.
What I'm really going to belooking for out of Jethro here
is is he able to move away fromthe condition and the price and
really try to narrow down andfocus on the seller's pain and
motivation?
Because that's the skill setthat we're really trying to
(02:17):
develop using the closer'sformat.
Can we pay attention to the fourseller buckets?
Identify that there'smotivation, identify if the
price is correct or incorrect.
It's probably going to beincorrect.
If so, can we leverage themotivation down the path of
educating the seller?
That's what we're going to belooking for.
So let's get into our sellercall here with Mr.
(02:41):
Jethro Blair.
SPEAKER_02 (02:56):
Hello.
SPEAKER_01 (02:57):
Hello, is this Lawrence?
SPEAKER_02 (02:59):
Yes.
SPEAKER_01 (02:59):
Hey Lawrence, this is Jethro Blair.
You doing all right today?
Hey, I'm calling about yourproperty over there off Lincoln
Ave.
SPEAKER_00 (03:07):
Look like I told you I was gonna be nitpicky.
And and I still do this everynow and then.
It's kind of just commoncourtesy.
But because this is a callreview and we do want to be
nitpicky, we are callingdistressed sellers, or at least
that's the objective.
That's the the goal, is thatwe're calling someone that is
(03:30):
motivated to sell a piece ofreal estate for a discount.
So you kind of want to avoidasking them, hey, how you doing
today?
Because honestly, there's asolid chance that they're gonna
tell you not good.
And so you you really don't wantthat to happen.
And Jethro, this is coming froma place of experience, brother.
I'm telling you, there's beentimes where I have accidentally,
(03:53):
even though I know I shouldn'tbe asking that, and I've asked
it, and it really backfired onme.
So kind of just move into hey,this is Jethro Blair.
Looks like you filled out a formon my website about selling one,
two, three, main street.
You still looking to sell, kindof roll into that to avoid that
awkward question.
SPEAKER_01 (04:12):
You might be considering some offers on
there.
Is that correct?
SPEAKER_00 (04:17):
Oh man, you did the same thing that Roger did last
week.
We're not at we do not want toask a seller.
Are you looking for offers?
You are immediately removingyourself from that seat of
embracing being the buyer, andyou're you're giving all of the
(04:38):
power and the leverage to theseller to be like, yeah, you
know what?
I am shopping for offers.
What's your offer?
How much are you willing to payme?
Where we want to say, Hey, areyou looking to sell me that
property?
Okay, well, what's your askingprice?
(04:59):
So remove that.
Are you looking for offers andask them, are you still looking
to sell?
And then you roll into, okay,awesome.
How much do you want for theproperty?
SPEAKER_02 (05:11):
Yeah, I'm gonna take an office on.
SPEAKER_00 (05:13):
Say it again.
SPEAKER_02 (05:14):
I'm taking on.
SPEAKER_01 (05:16):
Okay, well, what are you looking to get for it?
SPEAKER_02 (05:19):
Well, you're taking off with that, just see what I
can get.
SPEAKER_00 (05:24):
Exactly.
I yeah, I'm just taking offerson it.
You lost the leverage, that'swhy you didn't get the response
that you wanted right there,because you asked the wrong
question.
Subtle little nuances.
This is what I'm talking about.
So you got to be careful of thelanguage that you use.
It feels like it's not that bigof a deal, but it completely
(05:45):
changes the whole narrativeinside of the conversation.
SPEAKER_01 (05:50):
All right.
SPEAKER_02 (05:52):
Well, did you have a particular number in mind you
like to walk away with or paythem?
(06:21):
So I really don't know yet.
I'm gonna I'm just seeing what Ican get, what I make up my mind.
SPEAKER_01 (06:26):
Okay, well, what kind of offers have you gotten
already?
SPEAKER_02 (06:30):
Well, I had a 260,000 offering that wrong ten
thousand dollar commission.
I tell her, I can't do yet.
SPEAKER_00 (06:38):
All right, so pretty solid recovery right there of
kind of overcoming the themistake.
You kind of doubled down on uh,well, you know, do you have a a
magic number that you're lookingto get?
So we found out how much he owedon the property, and then I was
actually I was I was prettysurprised that you didn't just
(07:01):
roll into, well, tell me whatyou got going on.
You went into what he's alreadytold you, which leads me to
believe that you're you're gonnabe pretty solid at listening and
reacting to sellers.
What other offers have youalready received?
And then shockingly, 260 gotturned down because of a realtor
(07:21):
commission.
Uh this this might be a prettytough one to overcome just based
off of that.
I'm assuming that that number isgonna be not even close to what
we needed at.
They wanted what she wanted overten thousand dollars worth of
commission.
SPEAKER_02 (07:38):
Oh the one I had, she was on had a on uh on the
market about uh uh three weeksago.
I made her take it off mark, andshe was trying to get over.
SPEAKER_01 (07:51):
Oh, I gotcha.
All right.
Well, tell me a little bit aboutthe property.
What you got going on overthere?
SPEAKER_00 (07:59):
Okay, so two little tweaks there.
I didn't quite understand whathe was saying.
It sounded to me like theproperty was on the market.
He received an offer and then hedeclined it because there was
going to be$10,000 ofcommission.
And you kind of accepted thatwith uh, okay, I got you.
I don't think you do.
(08:19):
I don't think you got it.
Because what is he saying?
In order for a property to belisted on the open market, he
had to have signed a listingagreement.
That listing agreement wouldhave outlined the commissions
already.
So he would have already knownwhat he was going to be paying
in commissions before listingit.
(08:40):
So why would that be the reasonwhy he would turn down this
offer?
What did he expect by listing iton the market with a realtor?
So I don't quite understandthat.
And then here, when you say,well, tell me a little bit about
what you got going on, you didit.
You said, well, tell me aboutthe property.
So now you've got to steered himto where he's gonna talk to
about probably the Zillowstatistics, three bed, two bad,
(09:03):
1200 square foot, or thecondition, or both combined.
And it again, we wanted to stayin the the motivation, right?
He he wasn't really wanting totalk about the condition of the
property or anything like that.
So I would rather want to knowwhy he's trying to sell.
Why would he list it on the MLSand then decline this offer and
(09:25):
and not want to sell it?
Because obviously you'd alreadyagreed to sell it with a
realtor.
So I would want to know thatmore than wanting to dive into
hey, it needs paint and kitchenand bathrooms and a new AC.
We can make some assumptions onthat.
I mean, I'm already assumingthis thing needs probably
anywhere between 40 to$50,000minimum and rehab.
(09:46):
So why do I need to go into thatright now, anyways?
And if it was listed, we havepictures online of it.
So we really don't need to knowa whole lot about the property.
That felt like an escapequestion.
I don't know what else to say,so I'm gonna default to tell me
about the property.
SPEAKER_02 (10:06):
Well, just the five-bed room, still by turning
it into turning it into a duplexthat you can't get.
I got two bedroom, bath, halfbath, room.
The kitchen downstairs gotta goout and go around and get to it.
You got three bedrooms, fourbath, kitchen, mid room,
(10:28):
upstairs.
SPEAKER_01 (10:30):
Okay.
Um, I might have misheard you alittle bit, but you said the
kitchen might need a little bitof work.
SPEAKER_02 (10:35):
Yeah, yeah, it is probably a T phone.
Well, like uh, but we need somework.
Like what's about to do.
SPEAKER_01 (10:46):
Okay, give me just a second here.
I'm running some numbers.
SPEAKER_02 (10:50):
You don't need love.
We've been in a house over 35years, it needs some work.
SPEAKER_01 (10:56):
Oh, okay.
So it needs a little bit of loveon it, huh?
SPEAKER_02 (10:59):
Yeah, uh, I lived in a house, I rented it for 30
years.
SPEAKER_01 (11:03):
Well, what were you uh what were you renting it for?
SPEAKER_02 (11:06):
Uh 12 months.
SPEAKER_01 (11:08):
Okay.
You got tenants you got tenantsin it right now?
Oh, go ahead.
SPEAKER_02 (11:13):
Yeah, uh about four years ago.
Okay, so my brother, we went intogether yet.
SPEAKER_01 (11:28):
I gotcha.
Okay.
SPEAKER_02 (11:33):
I moved I moved out about six months ago.
SPEAKER_01 (11:36):
Okay.
So you don't have anybody livingin it right now.
You said you don't have anybodyliving in it right now.
Okay, I gotcha.
All right.
Well, let's see.
SPEAKER_00 (11:52):
See, it's this is kind of a flawed thought
process.
He's not really wanting to talkto you about the property and
the condition and all that.
He he's really trying to talk toyou about why he's looking to
sell this property.
He's telling you a lot ofdetails, but you're getting lost
in the weeds of the underwritingof the deal.
And and I I told you, I couldhave made some assumptions there
(12:15):
on what we were going to needrehab-wise.
And then he comes out and he'slike, Yeah, I mean, it's gonna
need some love.
That's where I'm automaticallykind of defaulting to that
$40,000 to$50,000 in repairs.
I would have already been thereand I could have just stayed in
the pocket of talking about thepain and the motivation.
And right now, look, yourattention is on all these
(12:39):
websites that you're clickingon.
It's probably PropStream andZillow and Google Street View
and the profit calculator.
You're all over the place whenin reality, you could have kind
of just sat back and focused onthe seller's needs and the
motivation.
So, because I'm assuming on thefour seller buckets, this is
motivated but incorrect price.
(13:01):
And so we're gonna have to findout is he motivated enough to
lower that price?
Why, why was the 260 not goodenough for him?
What does he need to walk awayfrom?
Why?
What is that trying to solve?
So we have kind of a surfacelevel motivation, right?
We don't know the painassociated to the number.
(13:22):
We don't know the deeper levelproblem that he's trying to
solve, and we definitely don'tknow the story behind the
motivation or the pain.
And so we're kind of lacking onthat right now, and we're going
down a dangerous path where youare comping and underwriting
instead of trying to engage withthe seller and really listen to
(13:43):
what he is telling you and thethe next open-ended question to
get him to open up about that.
SPEAKER_01 (13:50):
See here.
So we're gonna just a secondhere, sir.
SPEAKER_00 (14:08):
See, this would have been fine if you were doing this
after we had already determinedwhy he was trying to sell the
property.
Um this is this is far too earlyin the conversation for you to
already kind of be in thisplace.
And you're kind offast-forwarding through um
asking him, like, what is hetrying to accomplish?
(14:31):
Because what this leads you todoing is making uh a low ball
offer.
And that's we really want to tryto avoid that at all costs.
SPEAKER_01 (14:41):
So basically, all the systems, you know, the
plumbing, electric, all that ispretty much what it was when it
was first built.
SPEAKER_02 (14:50):
Yeah, plumbing here.
Uh I did put a new eight cityunit in.
It ain't been in so about aboutsix, seven months.
Uh, I put a uh new volume, it'sa bit in that body, uh it'd be
closed for a year.
SPEAKER_01 (15:04):
Okay.
SPEAKER_02 (15:05):
And about uh six and a half years old.
SPEAKER_01 (15:09):
Okay.
unknown (15:11):
Okay.
SPEAKER_02 (15:12):
Oh yeah.
Everybody I talk to, they wantto tear it down.
They they want to build a coupleof them down town houses up
there.
SPEAKER_01 (15:21):
Oh yeah, that's uh that's how they that's how they
do.
That's that's a new wave outthere in Nashville.
SPEAKER_02 (15:27):
So uh I never need a pill.
You can see down town fivemonths and everything on this.
SPEAKER_01 (15:33):
Oh nice.
Very nice.
So you said you owe about 173 onit.
So what do you want to walkaway?
You know, it's becauseobviously, you know, if I come
in with an offer that we bothboth can agree on, um you know,
then obviously you'd have togive 173 of that to what you
owe.
So what are you trying to walkaway with here?
SPEAKER_02 (15:54):
Well, and not only got$15,000 worth of taxes, my
brother.
Oh, it's gonna come out top.
SPEAKER_01 (16:01):
Okay, so we're talking around$190 in total,
then uh yeah, so we're gonna getokay.
All right.
SPEAKER_00 (16:12):
You got you gotta stay there.
You didn't get the the answer toyour question.
You found out that he owes backtaxes, but you gotta double down
your quote.
Well, again, okay, so 190.
So net to you, what do you wantto walk away with?
You gotta get the response.
You can't just accept the he hekind of just avoided answering.
SPEAKER_01 (16:36):
So it's a big property, and if uh people do
some teardown, you know, theytear it down and build those new
townhomes, you know, thosethings sell for a great price
out there.
SPEAKER_02 (16:47):
So yeah, then when they try to do it, I won't tear
it down.
SPEAKER_01 (17:01):
Okay.
Would you mind saying that onemore time?
I'm sorry, I just thought he wasa little poor.
Might be my fault.
SPEAKER_02 (17:07):
I said after I told her I wasn't gonna do it, but uh
go go take it uh 260 with her.
She told me she was gonna try toget the dude to go up to 270.
And and uh I told her uh hewouldn't do it, so he paid out
the deal.
SPEAKER_01 (17:23):
Okay.
SPEAKER_02 (17:24):
So I told I told her to take it out the off the
market.
SPEAKER_01 (17:29):
Okay, did you feel like that 260 was still a little
low?
SPEAKER_02 (17:33):
Can you still talk on the phone?
Yeah, okay.
SPEAKER_01 (17:40):
I said so.
You felt like that 260 was low?
Is that is that why you didn'tgo with her, or was it just
because of the commission shewas going for?
SPEAKER_02 (17:47):
I would have probably written on it if she
hadn't tried to get the uh theuh uh 10,000.
She said it would be a littleover 10,000, like she'd be
getting for commission.
SPEAKER_01 (17:58):
Oh, I gotcha.
SPEAKER_00 (18:01):
So again, he's going back to this whole offer realtor
commission.
Like this is a sticking pointfor him.
So he keeps bringing it up, andit sounds to me like the offer
is 260.
The realtor said, Hey, I think Icould get this buyer to come up
to 270.
I I'm staying right here.
(18:22):
I'm I'm gonna have a deeperlevel conversation about what
really bothered him.
Because I mean, 260, 10,000.
I mean, he's walking away with$60,000 in his pocket.
Why did he choose to walk away?
But again, we don't know whathe's trying to solve by selling
(18:42):
this because we haven't asked.
And so this is you're I don'tknow where you're looking.
Um, and it could just be you'rekind of staring at your screen,
and it could just be likedefault, you're just you're
looking sometimes.
I do that, I'm I'm deep inthought and I'm just looking.
But it looks to me as if likeyou're trying to figure out what
numbers you need to be atinstead of trying to figure out
(19:05):
where does the seller need to beat, and then see if that works.
And if it doesn't, then you canexplain why it doesn't work and
see if he's willing to come downoff of that number.
SPEAKER_02 (19:17):
Okay.
SPEAKER_01 (19:19):
All right.
Well, I mean, considering, youknow, you know, I'm a cash
buyer, we we offer convenience,you know, I can close as quickly
as 30 days.
Um you know, best, you know, wecover closing costs, holding
costs, all that good stuff.
I mean, basically the way itworks is if you and I come to a
good price, um, you know, I'llsend you a contract, you know,
(19:40):
once all in, sign it, once yousign it, I sign it.
We'll take it to title as longas everything's looking good
there.
Um you know, then then we moveforward and and you know, close
in about 30 days.
Is that a good timeline for you?
Are you trying to, you know, doyou need a little bit more time
than that?
SPEAKER_02 (19:55):
Or good timeline for me.
SPEAKER_00 (20:02):
Okay.
All right.
So the this felt this right herekind of shows me a little bit of
the inexperience because we justweren't ready for that in this
call.
We we don't have the answers toall of our questions that we
need, right?
(20:22):
You asked how much how muchmoney do you want in your
pocket?
You didn't get that answer andyou accepted that.
Um, we really still don'tunderstand why he wasn't okay
walking away with sixty thousanddollars in his pocket.
Why did the ten thousand dollarcommission bother him that much
to walk away from sixty thousanddollars in his pocket?
What is he trying to solve byselling this property?
(20:46):
What is his objective of wantingto sell this property?
Why, with whatever offer you'reabout to make, do you believe he
should accept that?
If we don't have those answers,then it's not about us.
Why are we even at the point tostart making an offer here?
(21:08):
We're not, it's just not theright time for that explanation
of our process, uh, becausewe're we just don't even know if
this is a seller that needs ourprocess.
unknown (21:23):
Okay.
SPEAKER_01 (21:27):
Okay.
Well, based on based on an oh,go ahead.
SPEAKER_02 (21:34):
My brother just bought a house in the clock, so
we we won't go and sell it anduh and uh you got a little stuff
in the basement.
You gotta get out.
He can move in, you got itbought out, you can really move
in.
SPEAKER_01 (21:49):
Okay, and you be and you be moving to Crossfield with
him?
SPEAKER_02 (21:53):
What not?
SPEAKER_01 (21:53):
You said you be moving out there with him?
SPEAKER_02 (21:56):
No, I don't really move.
I got small, I'm gonna get to asmall part.
SPEAKER_01 (22:09):
Hey, I apologize, sir.
The audio might be bad.
It could be someone on my end.
I'm not sure, but would you mindrepeating yourself?
SPEAKER_02 (22:15):
Oh, my speaker phone calls I was a workman pick.
SPEAKER_01 (22:19):
Oh, I gotcha.
SPEAKER_02 (22:22):
No, but uh we got work down trying to get the song
right now.
He got I I do all the work.
He gets paid.
SPEAKER_01 (22:31):
Okay.
Well, considering, you know, youwon't have to deal with any of
those realtor commissions or youknow, close, you know, closing
costs, holding costs, anythinglike that.
We cover all that.
Um, and you know, my biggestthing is that I just kind of
offer convenience, you know.
Uh so I would want it kind of alittle bit of a lower price.
Um, I'd probably like to bearound, you know, anywhere
(22:51):
between the you know 190 to 210range.
You know, that's that's kind ofwhere I'm at.
SPEAKER_02 (22:56):
I can't go for that.
I've got a lot of that okay.
I haven't got people offering meon that already.
SPEAKER_01 (23:03):
Okay.
SPEAKER_02 (23:04):
I was already up 260.
I could have got rid of herdeal.
But she tried to get all thatmoney out of me, and I wouldn't
do it.
SPEAKER_01 (23:11):
Yeah.
SPEAKER_02 (23:11):
I ain't I ain't trying to hear it, so I'm I'll I
don't let my house go for alittle night.
SPEAKER_01 (23:17):
Okay.
SPEAKER_02 (23:17):
I know how many cash buy deals out here.
I've been dealing with them forover a year now.
SPEAKER_01 (23:21):
So okay.
Well, so you know, like I said,considering that I cover all
these costs and everything, andall you'd have to do is just
sign a few, you know, somepaperwork or something if if we
did proceed.
Um, what's the best possibleprice you could do for me?
SPEAKER_02 (23:38):
Well, well, like I said, it I got uh my property is
worth it 300,000 or about Igotta I gotta get these close to
it.
Uh like uh 260-270.
SPEAKER_01 (23:52):
Oh, okay.
SPEAKER_02 (23:54):
I can't I ain't gonna let it go for nothing.
SPEAKER_01 (23:56):
No, I know I hear I hear you.
SPEAKER_02 (23:58):
I bought this house one time, and now I'm trying to
find.
SPEAKER_01 (24:02):
Yep.
SPEAKER_02 (24:04):
So I uh I I gotta get somebody up there.
I can't give off weight with alittle nuts.
SPEAKER_01 (24:10):
Yeah, no, I hear I hear you.
Well, all right.
SPEAKER_02 (24:12):
Well fuck you on this here.
I know what my stuff works.
Okay, it's in a good location inyour time, too.
SPEAKER_01 (24:19):
Yep, no, yeah, no, I agree with you.
Bordeaux, that's a nice area outthere.
So, uh, how about this?
Give me about 24 hours.
Let me run a few numbers, see ifwe can get a little bit closer
to what you're looking for.
Um, and uh, how about I give youa call back then tomorrow?
Is that all right?
SPEAKER_02 (24:35):
Yeah, that'll work.
All right, well, hey, man, ifyou don't give me uh just uh uh
text me on some yeah, I canyeah, I can shoot you a text if
that works.
Yeah, if that works out betterfor you, I definitely get a lot
of phone calls and stuff and beout.
SPEAKER_01 (24:51):
All right, well, hey, yeah, no, I'll show I'll
shoot you a text, you know,probably around probably around
this time tomorrow.
So we'll call around three tofour o'clock, somewhere around
that range.
Uh I'll shoot you a text and umyou know, just hey, make sure to
say my number.
My name is Jethro Blair.
SPEAKER_02 (25:06):
Um yes, sir.
SPEAKER_01 (25:08):
That's my personal number right there.
SPEAKER_02 (25:10):
All right, I've I'm logging in.
SPEAKER_01 (25:12):
All right, hey, I appreciate you, Lawrence.
You have a great day.
SPEAKER_00 (25:18):
All right, so we cannot end conversations the way
that we just ended that.
There's two things that justabsolutely crush wholesalers'
businesses, and that's too manyold leads and no new leads.
And you're gonna end up with aCRM just chock full of old leads
if at that at the end of thatconversation, if you were
(25:40):
steering the conversation forhey, tomorrow I'm gonna I'm
gonna shoot you a text.
I'm gonna give you a calltomorrow for what the numbers
aren't gonna change.
260, 270 ain't gonna work if youwere offering 190.
So that's it's it's a dead deal.
(26:00):
Now, I don't know if that leadwas dead on arrival because we
didn't do a good enough job offiguring out what he's trying to
resolve by selling his piece ofreal estate, and so this is
where we've got to go back tothe basics here, Jethro.
Our objective early on is tofind out do you have a property
(26:21):
you want to sell?
He did.
What's his asking price?
We kind of found out that it'ssomewhere in that 260 range,
okay?
That was hard, but that was alsobecause of the mistake where you
said, hey, are you looking foroffers?
You kind of put yourself on theon on the defense there.
Okay, so you're gonna tightenthat up.
We find out his asking price is260, 270, whatever it is.
(26:44):
Then we're gonna dive intomotivation with the open-ended
questions.
This is where you aredetermining the four seller
buckets price and motivation.
I think that he potentially wasin the highly motivated,
incorrect price.
But also he could have beenincorrect price and not highly
(27:07):
motivated.
I mean, he did have this listedon the MLS with a realtor.
He's talking about retail value,he knows what his property is
worth.
And again, we just never askedthe questions to try to figure
out what he was trying toresolve.
And so, because of that, it wasalmost impossible for us to
(27:27):
determine the poor sellerbucket.
So, this is going back to thestructure of the closer's
formula.
If you don't understand whichbucket he falls in, you don't
know how to carry on throughoutthe rest of the conversation.
Now, let's just assume that youdid find out that he was
motivated and it was incorrect,incorrect price, but highly
(27:48):
motivated.
So, what do we do?
We have to educate the sellerbased off of what we need and
how that also accomplishes whathe needs.
We never talk to him about whatdoes he think this property
could be worth once the propertycan be fixed up, right?
It needs a kitchen, it needswork, he knows it needs some
(28:11):
love.
So is that gonna be that$300,000number?
Well, if that's that$300,000 ormaybe it's$350,000, then how
much work does it need?
How did he come up with hisasking price?
We don't know that.
And because we don't know that,we don't know or understand his
(28:32):
thought process on his math.
So we can't that's well, younever explained your math.
You just lowballed him and shotout a number.
You you were selling yourselfthere.
You know, I'm I'm convenient,it's super easy, there's no
commissions.
Who cares about you?
(28:52):
The commission he got an offerfor$260 with a$10,000
commission.
That's$250.
Your no commission is$60,000lower.
That's what he owes on theproperty.
So he's walking away withnothing.
So again, this is why we need tounderstand what was his dot
process behind him coming up tohis number so you could explain
(29:15):
how you're coming up with hisnumber.
This is how we avoid lowballingsellers, is because we could sit
there and say, as an investor,as a wholesaler, this is how I'm
coming up with my math.
How did you come up with yourmath?
Now, again, this seller couldhave very easily fallen into the
bucket of not motivated anincorrect price.
(29:38):
And that's where he should belisting it with that realtor.
He should be paying that$10,000commission.
It wasn't all in commissionseither.
I think that was also closingcosts associated with that.
He was probably justmisunderstanding what was
happening.
But this right here was uh aflawed call from the the kind of
(29:59):
the understanding of what you'retrying to accomplish inside of
the closure's formula.
So, Jethro, moving forward, whatyou need to understand is this
type of seller right here, inorder for you to get good at
closing these deals, right?
And it's gonna be a smallpercentage that you ever
actually close with theincorrect price, but you have to
(30:22):
understand if they're evenmotivated.
Because otherwise, you're justgoing to end up making a ton of
lowball offers with noexplanation, and that's not
gonna get accepted very often,especially from the person that
has their mindset on a higherprice.
What value did you bring?
(30:43):
What understanding it wasn'texplained to them?
So you got to be very careful onthis.
In this call, I would have livedin the pocket of trying to
understand what he was trying toaccomplish.
Why was he willing to walk awayfrom that$60,000?
And honestly, that would havedetermined whether or not he was
motivated or if he was.
And that's why I'm kind of stuckon that point because that's the
(31:06):
the whole um item that's missingfrom this call.
Is like we just don't know.
And so you got to go back intolike, hey, the lab a little bit
here, kind of revamp some ofthese calls tonality-wise,
personality-wise, you soundgreat.
You sound you sound confident,you got to carry the
(31:27):
conversation really well forbeing newer at this.
It's just you got to understandthe the psychology behind the
the way the closure's formula isworking, and I can see that it's
still kind of newer to you.
That's okay.
Like this is why we've got toput in those daily reps.
It's why you've got to submitthese call reviews.
(31:48):
I get that this isuncomfortable.
It's not meant to be.
Growth doesn't come from beingcomfortable.
So thank you for sharing thiscall.
Thank you for going live withother TU members here, you know,
putting yourself out there, likeyou're putting in those reps.
I see that you're on Jamil'slive here, which means this is
specifically for guys that are,you know, working W-2s and
(32:10):
they're doing this part-time.
So, man, you're probably bustingyour ass.
You know, you're you're goingout, you're working your job,
you're coming in, you're puttingin your dials.
Keep putting in that workconsistently, but give yourself
an opportunity to taste thatsuccess by diving deeper into
the pain and the motivation.
Watch those modules ofunderstanding the importance
(32:34):
behind the four seller buckets,that determines how the rest of
the conversation is going to go.
That's really where you messedup on this call.
But overall, brother, I'mlooking forward to seeing that
growth over the next severalmonths, seeing how you can get
better at this and utilizingyour God-given natural abilities
there and your personality.
(32:54):
Because I could definitely seehow once we kind of tighten up
some of these questions and thethought process, you're going to
be absolutely fine.
Show Jethro some love in thecomments for submitting this for
you guys to learn.
It's uncomfortable for them,it's uncomfortable for me, but
that is how we grow together.
So show Jethro some love.
Make sure you like today'svideo, and we'll see you guys
(33:17):
tomorrow.
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