Mitch Goldstein | Coach Mitch | April 22nd, 2012Coach Mitch’s REFLECTIONS™
Most folks just don’t get it
You suggest something, anything, and the first thing out of someone’s mouth is something negative. I’m sure this has happened to you. Almost always, people will say that something is wrong with your idea. I am always amazed at this.
Ideas galore
I am a brainstormer. That is my best talent. I have lots of ideas. I don’t say they are all good, I just say that I have lots of ideas. However, this much I do know – all my ideas are not bad. Yet, invariably, people will react negatively to something, even before the idea is completely stated. They also react by making awful faces and other body language that indicates disapproval.
The other thing I’ve noticed is that the negative person almost never has any ideas of their own. All they do is nay say. I don’t know why that is, but it is so.
It’s very distressing
I am a positive person, I can’t help it. I am naturally optimistic. I always see things as possible, that the glass is 75% full. This is because I have trained myself to come up with ways to fix a situation and I am confident that I can overcome. However, when someone pours water on an idea, I feel a hard physical reaction. It takes me some time to overcome this negative reaction and, generally, it is difficult to overcome negative feelings. The world does not stop because someone said “I don’t like that.” You have to go on, but it does take some effort.
I’m not grousing
I’m not even vetting. I’m just stating facts. Few persons I have met have a positive outlook. For me, a negative outlook is problematic. These persons are overhead. I don’t like needing to work hard to overcome their negativity;
in fact, I resent it.
It is a waste of my time to be gripped by their pessimism. I don’t care for the negative emotions their lack of imagination stirs within me. I have better things to do than to spend time thinking how silly someone is because they can’t see the benefit, or don’t see the wisdom, or won’t see the vision.
This is a real issue. Others lack of imagination inhibits me. Others prevent me from using my brainstorming ability to piggyback ideas. Others lack of enthusiasm also prevents the enthusiasm of still others. When someone throws water on an idea, you have to work ten times harder to overcome the negative.
We aren’t taught to be creative
Sadly, we are not taught to be positive; not by our parents, not by our teachers, not by our employers, and, increasingly, not by our economic system. We are left to fend for ourselves.
But creating something out of nothing is exactly what we do as real estate investors. We create solutions! We create a way out. We help. We figure how to give the seller what they want, but in a way that we can make a profit. It is heady stuff when it works.
Win-Win
This is more than a slogan; it is a way of feeling, living, thinking, being. Nothing happens unless the cash register rings and that won’t happen unless you are creative enough to find a way to give the seller what he wants and still be able to make a profit. That is the bottom line.
What brought this to mind?
I was speaking to a manager about their business. I use their service and the manager wants to someday own his own facility. I made several suggestions on how the service could be improved. After stating each suggestion, every single time, the first thing the manager said was, “Corporate won’t allow that.” or words to that effect.
The Issue
I spent an hour offering different ideas and insights, with not one being accepted as valid. Now, I’m not saying everything was a gem, but not one idea was pursued.
Another issue
I told the manager, “You are not asking smart questions. You are immediately falling into the existing corporate policy and not even thinking about a work around that keeps you within the policy but also allows you to help customers by improving service. This stifles your business and limits your thinking, creativity and upward mobility.” He understood what I said but pointedly, he did not ask, “How can I do better?” Some people can’t be led to water. He didn’t “get it” even though I hit him with a bat.
Four great questions
Let me suggest a way of thinking. It will help in anything you do, and it will make everyone think of you as wise, introspective, considerate and insightful. When reading the following suggestions, think how they can be used in a real estate investing conversation.
When someone says something of interest…you say,
1 “That’s interesting, tell me more.”When they have finished speaking about that item…you ask,
2 “That’s great! What other ideas do you have?”When they have given another idea…you ask,
3 “Terrific! How would you implement that, or how can we make that happen or what else could be done?”When they have told you how to implement…you delve further,
4 “Very nice! How would you overcome this issue, or how would you handle that concern or what would you do about…?”
It’s easy to be creative – just ask questions.
It’s easy to get information – just ask questions.
It’s easy to have people like you – just ask questions.
Just help people to express themselves. They have it in them. You just have to be smart about bringing it out. This is the essence of salesmanship.
First, you accept their notion, by saying something accepting, like, “OK” or “Good” or “Fascinating.” or “I’m curious.” or “That’s creative.” or “How exciting.” or… If you first compliment someone, if you accept them, then they will reciprocate and accept you. It’s not rocket science.
When you ask questions, people think many good things of you.
They think you are nice, because you are putting them in the spotlight.
They think you are smart, because you are noticing something good about them.
They think you are insightful, because you are insisting that they speak more about a particular point they had made.
They think you are introspective because you are questioning incisively about something they said.
Tax delinquents
The tax delinquent is no different. They are miserable about their situation. If you ask about details, they will tell you details. The details they speak about are the keys to the solution. You just pay attention and the tax delinquent will tell you what they want and how to give it to them.
Example:
You ask, “What have you done to resolve the situation?” (outstanding tax bill)
The tax delinquent usually says, “I tried to borrow the money.” Of course they tried to borrow money; it’s what you would do in the same situation. But, you play along.
You ask, (#1) “That’s interesting, or that was a good idea, what happened?”
The tax delinquent often goes into detail on how he has been turned down, all great information to use later. Typically you will hear how the banks won’t refinance the property, and he couldn’t sell because buyers couldn’t get a loan.
You ask, (#2) “Did you try to borrow from anyone else?” This is another version of: What other ideas did you have? You must train yourself to revamp any question to suit your immediate need/situation.
Had the brother/uncle/friend given/loaned them the tax money, then the taxes would have been paid, they would not have been on the tax delinquent list, and you would never have contacted them. Therefore, because the taxes have not been paid, you already know the answer before you ask the question, but you want the tax delinquent to disclose more info about what he did or (#3) what else he can do to solve the situation?
You ask, “Often family or friends help. What does your family think about this situation?” If asked in this manner, it allows the tax delinquent to make excuses for his family or friends or even to dismiss the question. Typically, the tax delinquent will tell you specifics about the family situation and you will gain insight into how to formulate your offer. Don’t forget, you are seeking to help, but Uncle Bill did not.
What you don’t ask is just as important. You did not ask, “Can you get the back tax money from your brother?” Asked in this manner could put a bad taste in the tax delinquents mouth because he remembers being spurned by the brother, and he is embarrassed that the brother did not/could not provide the monies, and now he is further embarrassed by you knowing some dirty family laundry. It is always better to ask a question that is on target but in a roundabout way. (“Often family helps.”)
You have effectively made the tax delinquent admit that no one will give him money. If he was in denial, he is no longer. You have put him up against the wall and in a corner. Then comes the coup-de-grace, you ask, (#4) “Since you haven’t been able to raise the money to pay the back taxes, what are you going to do?”
“I don’t know.” He says. “I just don’t know.” He is beaten and he just admitted it.
You say, “Well, maybe I can help. What would you say if…” and you offer a solution that gives the tax delinquent a way out, with dignity, and makes you a safe, significant profit.
Coach Mitch’s “Ridiculously Simple System…”™ has scripts that teach what to say in the specific situations that always occur with tax delinquents. More important than what to say, is that Coach Mitch helps you create the proper mindset so that you can do things in the proper order, with the proper body language and other necessary ingredients to have a successful experience.
I have always believed that a good deal is possible with a motivated seller, but a great deal is probable with a motivated seller and good negotiating tactics. You enhance your odds of success if you are using good tactics, implement them well and you are speaking to “The most motivated of all motivated sellers”™ a desperate tax delinquent.
Go forth and prosper –
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