What’s pig you might ask?
Great question! a P.I.G. is an acronym that stands for Professional Information Gatherer.
It was way back in 2012 when I first heard the term and decided that I was going to learn more about getting good at getting information.
Wondering if a seller will say yes or no is indeed an uncomfortable feeling. The fear of being rejected is what keeps many buyers from ever making an offer. How do we get any deals done without facing a bit of rejection? Short answer…we don’t.
I wasted lots of time wondering what someone would say to my offers because I did not make them as often as I should due to fear of rejection. By spinning my wheels, I watched lots of great buys happen without my name on the buyer’s line. Sometimes it felt like the only way I could ever get a deal was to outbid all the other buyers.
Making offers should have a strategy attached to it. Some teach to use fancy words or psychological tactics, others teach to blanket your local market with offers on everything that’s for sale to see if something pops. The end result of avoiding the needs of the other party is grief.
I’m not going to that blanket offers and other tricks don’t work, but in the end, the most effective methods get you to the finish line more efficiently. When I make offers, the sellers already know what’s coming…no surprises mean smiles instead of frowns.
Here’s an example: A guy is selling his house to pay his wife’s medical debts and needs $20,000 to accomplish that. In my offer, I am going to make sure that his pain point is addressed by my offer, if it isn’t, I won’t make any offer at all.
When a seller understands and believes that you are listening to them and helping them solve their problems, you will have their attention and focus. If the deal is all about you, I’d learn to get comfortable with a ton of rejection.
The more we understand a seller’s situation the better prepared we are to make offers that a seller will accept.
Many buyers think that all sellers want 100% of their cash at the closing table, yet that’s simply not true.
Larry Harbolt said it best: “Sellers don’t want the cash, they want what the cash will do for them!”
In this episode, I cover a few strategies to help you get better at finding problems so that your offers will be the ones that get accepted.