7 Effective Follow Up Phrases To Win More Private Lenders
Posted by Patrick_Riddle
Filed under Private Money Articles
No matter whether you realize it or not… there’s a VERY fine line between 
successful people and unsuccessful people.
There’s an even finer line between someone who successfully “gets” private money… and someone who says “I’ve tried all of this and it doesn’t work” (aka, an investor wannabe who would rather make excuses than work to get better at what they’re doing).
And, one of the ways that you can separate yourself from the “wannabe” group and put yourself in the successful group like us is to just sharpen up what you say to people.
So, Patrick compiled 7 extremely effective (but extremely simple) phrases you SHOULD be using to be the most effective in your life, business, and “private money getting”.
If after you read these you say, “I already knew those… and it still isn’t working to make me successful”… I can already say that you’re currently in the “wannabe” category and need to make the decision to go out, stop making excuses, and start actually implementing in the real world what you learn.
So… write these phrases down, memorize them, and use them every chance you get. No matter how simple they sound… these could mean the difference between you securing private money which leads to a deal with $35,000 in profit… or flushing those $35k smackers down the toilet.
1) Did I catch you at a bad time?
I already explained in detail why we phrase it “bad time.”
If you do catch a prospect at a bad time, you want to know it because they likely will not be paying attention to what you’re saying. You want their attention to be focused on you. When it’s not a good time to talk, ask them what would be a better time for you to call back. Do not let them tell you that they’ll get back to you. You want to remain in control.
2) I thought of you when this opportunity came up and called you first . . .
People naturally have an urge to want to feel appreciated and important. That’s one of the things that people want most out of life (whether they realize it or not).
By saying, “I thought of you,” and “called you first,” your prospects will feel appreciated and important.
3) This probably isn’t right for you but . . .
This keeps you in the unmotivated role . . . which is always where you want to be. You’re also disqualifying the person from what you’re offering. People hate to think that they would not be qualified for your opportunity.
This also takes you out of the salesman role in their minds. When most people think of a salesman, they think of someone shoving nothing but positive features and benefits down their throats pushing towards a sale. Although saying, “This probably isn’t right for you . . .” may seem counterintuitive, it’s a powerful way to use language to your benefit. Use it and see for yourself.
4) I’ve got an excellent opportunity for the right person, not sure if that’s you . . .
This statement conveys that it’s not a question whether or not the investing opportunity is sound, the only question is whether the prospect is the “right person.” Then, you finish it off with “not sure if that’s you” to again take you out of the salesman role in the prospects mind.
5) I’m going to have this deal financed by x-date, so if you are interested . . .
Promote scarcity! Having a limited number or a limited time frame will always increase sales no matter your product or service.
Letting the prospect know that you’ll have the deal financed by a certain date does two things . . . It tells them that they need to act fast if they want to get involved and promotes you as a confident businessman. It’s not a matter of whether or not you’ll get it financed; it’s a matter of who will take advantage of your opportunity the quickest.
If you have confidence in yourself and your investments, other people will too.
6) When should I expect to hear back from you?
So, the prospect has shown interest and told you that they would think about it or check on the availability of their funds or talk to their spouse. Ask this question so that there is a clearly defined next step as far as your communication goes.
Make sure they are specific with their answer (as in next Monday). I usually follow up their response with, “Ok, Monday sounds great. And I know that we’re both busy people. If I haven’t heard from you by Monday afternoon, do you mind if I follow up with you?”
7) Would you like me to notify you of our next opportunity?
This ensures that the people on your follow up list do in fact want to continue being contacted with future opportunities. I found that everyone I contacted was delighted to hear from me and be presented with the opportunity even if they weren’t interested at the time.
So, write those down… and start to use them.
Being a successful real estate investor and “private money getter” is as much about the way you talk to people as the numbers in the deal. People who learn even the simplest of sales, negotiation, and persuasion techniques will be cleaning up in this buyers market while the others will be left scratching their heads wondering why all of these deals that “pencil” aren’t turning into profits for them.
Now, get out there and start kicking butt!
- Patrick and Trevor
