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In the competitive world of real estate investing, finding and closing deals on motivated seller leads can be both an art and a science. Patrick Tanner, a seasoned investor from St. Louis, Missouri, shares his unique approach to building strong connections with sellers and closing deals by prioritizing empathy and strategic negotiation. His process centers on controlling what he can and standing out from other investors in meaningful ways.
Below, we explore Tanner’s actionable techniques for cultivating lasting connections with sellers and achieving success in real estate.
Understanding the Seller’s Perspective
Every motivated seller has a story. Whether they are dealing with loss, facing financial strain, or managing complex family situations, these sellers are often in vulnerable positions. According to Tanner, showing genuine empathy and addressing their unique circumstances helps investors stand out. When stepping into a seller’s home, his advice is simple: take a moment to connect on a human level.
Instead of focusing solely on numbers or quick negotiations, Tanner emphasizes the importance of slowing down. “We’re here to provide a service,” he explains, encouraging investors to be perceptive of the seller's emotional state and any potential discomfort. Understanding these dynamics can help investors better assess the situation and provide a tailored offer that meets the seller’s needs.
Building Trust Through Personalized Solutions
Sellers are often flooded with offers, so the question arises: How can an investor distinguish themselves from the crowd? Tanner’s answer lies in personalization and thoughtful gestures. By recognizing sentimental attachments or specific needs, investors can show sellers they genuinely care about the outcome, not just the bottom line.
One of Tanner’s memorable tactics involves acknowledging items with emotional significance to sellers. For instance, he might suggest preserving a door frame marked with children’s growth measurements. These small, thoughtful actions create a powerful impression and can influence the seller’s decision in favor of a compassionate investor over a purely transactional one.
The “Lost Kid” Approach: Human Psychology in Action
Tanner uses what he calls the “Lost Kid” technique, rooted in Neuro-Linguistic Programming (NLP). This approach softens interactions by framing Tanner as someone needing guidance, putting the seller at ease and lowering their defenses. For example, he might ask the seller if there’s a specific area of the house they’d prefer him not to enter, showing respect and fostering comfort.
He explains that people respond well to kindness and vulnerability, particularly in situations where they feel embarrassed or judged. Demonstrating understanding and a lack of judgment can turn potentially tense interactions into collaborative discussions, laying the groundwork for a mutually beneficial agreement.
Persistence: The Key to Closing Old Leads
One of Tanner’s standout qualities is his dedication to follow-up. He insists on regular contact with leads, regardless of their response rate. His philosophy? “Every human is a procrastinator.” Understanding this, he implements a consistent follow-up process that keeps him at the forefront of the seller’s mind.
For Tanner, follow-up doesn’t end until he hears back. Whether it's immediate phone calls, texts, or even email sequences, staying engaged is his strategy for converting cold leads into closed deals. He recalls instances where deals were closed on leads initially contacted years prior, underscoring the value of tenacity and follow-through.
Utilizing Grassroots Marketing Strategies
Although Tanner utilizes traditional lead sources, he also swears by grassroots marketing techniques, which offer real-time opportunities to connect with sellers. His advice is clear: for investors with a limited budget, creativity and visibility are essential.
This could mean something as simple as “driving for dollars” by placing marketing materials in high-traffic areas, networking locally, or even wrapping his car with a real estate message to spark conversations with people he meets. Tanner stresses that face-to-face interactions in one’s community can create a solid lead base while minimizing marketing expenses.
Embracing Personal Resilience
On a personal note, Tanner openly shares his journey of overcoming challenges, which has shaped his approach to real estate. His experience with addiction recovery, for example, has instilled in him a sense of empathy and patience, qualities he applies in each real estate deal. He credits his past with helping him understand clients in difficult situations, making him a relatable and trusted figure in their real estate journeys.
Tanner’s journey serves as a reminder that personal experiences can greatly impact professional success. For investors, leveraging one’s background, resilience, and emotional intelligence can offer an edge in building stronger, more impactful relationships with clients.
Take the Lead: Build Real Connections and Close More Deals Today!
If you’re ready to take your real estate business to the next level, start implementing these techniques today. By focusing on empathy, consistent follow-up, and grassroots marketing, you can build genuine connections and generate more motivated seller leads. Remember, success in real estate is about persistence, people, and the personal touch you bring to each deal. Begin your journey now and see the difference in your results.
