MEMBER'S CORNER

Keeping the Main Thing, the Main Thing.

So who am I to talk about “Keeping the Main Thing the Main Thing”? I mean, I’m the guy who seems to come up with these unlimited and creative ways to use the NARS EHTrust, like as an alternative to Flipping, Assigning Contracts, Double and Simultaneous Closings and even getting Cash Back to Buyers at the closing.

Certainly all these “alternatives” to the more traditional use of the EHTrust are outside the “Main Thing” box, aren’t they? Well, maybe, and then again, maybe not. So how did I come up with using the EHTrust to use instead of Flipping or Assigning Contracts? The Truth is, I didn’t.

Sure, there are references to such other types of transactions in the NARS Workbook and Materials, but for the most part all these different methods and uses of the EHTrust actually came about by, you guessed it, “Keeping the Main Thing the Main Thing”.

Then what exactly is “The Main Thing”?

• Showing Up; or to me that means… Making Calls and Sending Offers Everyday

• Listening to the Seller’s Problem so that when I make my offer I address the Seller’s concerns

• Being totally honest the Seller, even if it means I might lose the deal

• Staying Unassociated with the End Result; kind of like that infomercial about the Ronco quick cooker, “Just Set It, And Forget It”. Just keep the offer pipeline full and take the ones who call you back.

So how do you know what kind of offer to make? Guess what, you already do. That’s exactly my point to the article. The biggest hurdle that I see most new members tripping on is over-analyzing the deal. Forget it; you don’t need comps or spreadsheets. Keep it simple. Just make your calls and ask the Seller the main questions.

When you ask “that question”, you know, the one about staying on the loan etc., LISTEN to the Seller’s reply carefully. Sure, some are going to just say “NO”, and that’s ok. I’d rather hear “NO” then a “Maybe”. But, when they start explaining their situation or asking questions, you’ve got a live one. Don’t be afraid of “setting the hook” or asking a closing question like the simplest one of all, “Well, what do you really want?” Then Shut-Up and let them tell you. Remember the part about LISTENING? This is a good place for that.

If the Seller wants some or all their cash and you don’t have it or aren’t prepared to offer it, just say so, this is the Being Honest part. If they tell you their payments are so high you don’t feel you can find a Resident Beneficiary for the property, then be honest and tell them that it may require they may have to make a portion of the payment for a few years. If they tell you they just want to sell the place and not deal with it anymore, then ask them what they will take. If it is at least 15% to 20 % below the Appraised Value then you should make them an offer.

So let’s get back to “What kind of offer do you make”? The Answer; you make the same offer you will always make, to “Acquire an Interest in a Trust”. If you are proposing to do a Flip type transaction then you will use the same forms and the same offer as you would when offering to take the property Subject-To using the EHTrust. You can use the same NEO and Purchase Offer. The only difference would be the length of your terms and the values or beneficiaries interest in the Trust.

Soon you will find that you will be creating, or rather your deals will be creating themselves, simply because you’re making lots of calls, lots of offers and listening to lots of Sellers. All you need to do is get to be a good problem solver and how to present the solution to your Seller.

With very few exceptions all the transactions I’ve done started from a phone call, followed by an offer using the Proposal Template and just answering the Seller’s questions.

The Main Thing is… Making Lots of Calls and Lots of Offers, using exactly the same process every time.