Cody Sperber's 5 Steps To Closing A Real Estate Deal
While growing up in Mesa, Arizona I always wanted to be a 9th grade history teacher – there was just something about teaching that drew me in.
But once I realized what 9th grade teachers actually make each year, I quickly put my teaching interests on hold, switched gears and joined the Navy instead, then became a bookkeeper, then finally stumbled into real estate investing.
Over the years, from struggling newbie to high-level player, 1,000+ deals and many millions of dollars later, I never lost the teaching bug. Like that itchy shirt tag that keeps sticking you in the back of the neck, it was just always there, and finally you just gotta do something about it and scratch that sucker.
Masterminds of REI
So, I took my passion for teaching into the Real Estate Investing World and started hosting in-depth mastermind events.
Every once in a while, we book a hotel room, invite 50-100 of our closest real estate friends and colleagues, and then spend the next 2-3 days together masterminding on how to make more money than ever in this business. And I get to scratch my teaching itch by pouring out the best of the best of what's working for me. People simply love these masterminds. They used to be invitation-only, but I recently started opening up spots for others to fill. They usually fill up super fast, but if you're interested you can check availability here.
I'm called “The Clever Investor” by my friends and colleagues in large part because of my use of highly creative strategies, innovative thinking, and an uncanny ability to create highly profitably, win/win real estate deals. I just have a knack for this stuff...but the good news is, anyone can learn it, including you.
So I’ve put together a handy dandy list of 5 steps to a close. And I’d like to share them with you. I’ve even made it easy be creating this nice little video all about getting buyers to say, ‘Yes!’
And grab a pen and some paper, because this one is most certainly noteworthy. Check it out here:
Cody Explains His 5 Steps to a Close …
You Need These 5 Steps
In case you were too enthralled with my mastermindedness (yeah, I made it up) in the video to take notes, fear not! Here’s a brief recap of these spectacular 5 steps to a close:
1. Build Rapport Through Active Listening
- Say their name, repeat back what they just said to you, expand on it by asking questions like:
- “What's happening in your life to make you want to sell your house?”
- “What challenges are you having with selling your house?”
- Your MAIN GOAL: Uncover the seller's real ‘Why?’
2. Agitate the Seller's Pain
- People are motivated most by pain, so you’ll ask questions like:
- “What's going to happen 6 months from now if you don't sell your house to me today?”
- “How's the rest of your family going to feel if you have to keep going further in the hole because you can't sell this house right now?”
3. Force the Seller into “Present Tense”
- Say things like:
- “Focus on me right now...get with me here, in this moment…”
- “What are you going to do RIGHT NOW to change your current situation?”
4. Get the Seller to Say “Yes”
- The magic number is 7. Continue asking questions, so they say ‘Yes,’ 7 times.
5. Tell the Seller “How” They Can Do Business with You
- Don't be a jerk, but take the lead by making a direct command.
Learn the 5 Steps to a Close – These are good – because they actually work. Learn them!
Use the 5 Steps in a Real Life Situation – Now that you’ve learned them, take ‘em for a spin. You likely won’t score every time (who does?), but the odds should certainly be in your favor the more you do use these steps.
Bask in Your Awesomeness – You learned the 5 steps, you used them – and they worked.
Hooray for a close (or maybe two or three)!
Enjoy your accomplishment!
But not for too long, get up and go do it again.