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How to Value a Property in Real-Time
The Objective: Get It Now
In real estate, time kills deals. The longer you take to get a prospect under contract, the more likely they are to shop around and lose interest. The goal is to move from conversation to contract in a single phone call. This is the one-call close, and it hinges on your ability to quickly and confidently provide a value for their property while you're still on the line.
1. The Two-Fold Approach to a One-Call Close
A successful one-call close requires you to multitask effectively. While you're building rapport and gathering information, you're also secretly running the numbers.
When you first get the seller on the phone, your primary goal is to connect with them. Don't jump straight into numbers. Start by just talking, asking questions, and building a genuine rapport. While you're talking, you're also gathering crucial information that will help you run comps and determine your offer.
What to talk about:
Property Details
What's the address? How many beds/baths? Any recent renovations?
Seller's Motivation
Why are they selling? What's their timeline? What price are they hoping to get?
Property Condition
Is the roof old? Are there any major repairs needed?
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While the conversation is flowing, you're discreetly using your system to run comparable sales (comps). This is the backbone of your offer. You should be so familiar with your process that you can do this almost on autopilot. The objective is to find a rough price range for the property without the seller ever knowing you're working in the background.
Speed is Essential
Don't waste time on a deep dive. You only need a quick, rough estimate to establish a value range.
Take Quick Notes
As you're talking, jot down key details about the property and the seller's needs. This will help you remember their pain points and frame your offer accordingly.
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2. The Power of the "Hold"
What happens if you can't get a solid number in five minutes? You've built rapport and you have their trust, but you don't want to give a bad number. This is where you use the strategic "hold."
The Script:
"Hey, [Seller's Name], this all sounds great. To make sure I give you the most accurate and fair offer, I need to consult with my underwriting team for a quick second. Can you hold for just five minutes while I run this by them?"
Why this works:
During this five-minute hold, you have a concentrated window to get the information you need from your team or do a more in-depth comp analysis.
3. When to Ease Off the Gas
The one-call close isn't for everyone. Some sellers are just tire-kickers, or they're not motivated enough to make a quick decision. You need to be able to read the room and know when to pivot.
Signs a seller isn't ready to sign:
If you sense this, don't try to force it. Respect their position, but don't give them all your valuable insights. You can say something like, "It sounds like you're still exploring your options. I can send over an offer for you to review, but there's no pressure at all to decide right now."
The Bottom Line: Always push for the one-call close, but know when to adapt. Your objective is always the contract, and sometimes that means a soft close rather than a hard one.
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