Initial Call Back Script

When you are about to talk to a seller for the first time you will want to use a combination of the Property Information Sheet and a prepared, well practiced script to gather the information. The script we recommend is the Initial Call Back Script.

In the script, we give you our preferred way of asking for the information you need on the Property Information Sheet. Most of the questions are very straight forward, but a couple parts I do want to mention here.

First, we want to find out what they think the value of the property is, but we ask it in a very specific way referencing what they think an appraiser would say the value is. This usually has them give us a more objective answer than what do you think it is worth.

Second, we will ask the seller if the house needs any work, but then follow up with asking very specific questions about things that most properties will need. We’ve found that most sellers will say that the house needs less than it does unless you ask about specific items that need to be addressed. Of course, you will be inspecting the property when you go out to meet with the seller as well.

Two last things. First, yes… it really is important to use the script as written when talking to the seller about your cash offer unless you have a proven, alternative strategy.

And lastly, some real estate investors get hung up asking a seller what they owe on their property. If you are in good rapport with the seller, it really is not a big deal and most will gladly answer the question. I usually ask the question by asking if they own the property free and clear or they have a mortgage. Sometimes I add, “that I will need to take care” to the end of the question, but not always.

It is extremely important that you practice your script until you are very comfortable with it. The time to practice is not with a live seller on the phone. Generating calls from sellers can cost upwards of a $100 per call, practicing on these leads is an expensive proposition and is not recommended. You should practice dozens of times before ever talking to a live seller.

Initial Call Back Script

As you ask the questions below, fill out the Property Information Sheet.

  1. How did you hear about us?
  2. What is the address of the property?
  3. What subdivision is that in?
  4. Where is your house by?
    • We are looking for an answer like “two streets behind WalMart” or “two blocks from the hospital”
  5. Who is on Title for the house? Who is the official owner?
  6. What is a good phone to reach you at? Is that your home phone?
  7. What is your work number?
  8. Do you have a cell phone?
  9. What is your e-mail address? BE SURE TO GET THIS!
  10. Is the mailing address the same as the house address?
  11. Who is living there now?
  12. When do you want to move out?
  13. Where are you moving to?
  14. If I were to send an appraiser out to the house today, what do you think it would be worth?
  15. How did you come up with that value?
    • We are looking for an answer like: “had it appraised last month” or “real estate agent did comps” or “house across the street just like this sold for that amount last month”
  16. What did you buy the house for?
  17. When did you buy the house?
  18. Is the house in perfect shape or does it need a little work? What does it need?
  19. How about the carpet? Does that need any work?
  20. Does it need any paint?
  21. Have you made any recent repairs?
  22. Any other repairs?
  23. What is the style of the house?
  24. How many square feet?
  25. How many square feet is the basement (if it has one)?
  26. Is the whole basement finished or just a part? How many square feet is finished?
  27. How big or many acres is the lot?
  28. How many bedrooms does the house have?
  29. How many bathrooms does the house have?
  30. Does the house have a garage? How many cars? Detached or attached?
  31. Any outdoor buildings like a shed or workshop?
  32. Is the house zoned residential or does it have special zoning?
  33. What were the taxes on the property last year?
  34. What year was the amount of tax for? This year? Last year?
  35. What school district is that house in?
  36. Is that on city water or do you have a well?
  37. Are you on city sewer or something else?
  38. Is the house currently listed with a real estate agent?
    • If so:
      • How long has it been listed?
      • What date does your listing end?
      • What price do you have it listed for with the agent’s fee included?
      • What did you start the price at?
      • Can you cancel the listing with the real estate agent?
  39. Do you have it listed as for sale by owner already?
    • If so:
      • How long has it been for sale by owner?
      • What price are you trying to sell it for sale by owner?
  40. The CRITICAL PART OF THE SCRIPT:
    • If I could close quickly and pay ALL CASH, what is the least you could consider?
      • [WAIT FOR ANSWER]
    • Is that the best you can do?
      • [WAIT FOR ANSWER]
    • Are you saying that if I do not pay [WHATEVER THEY JUST SAID] then we can’t do business?
      • [WAIT FOR ANSWER… If answer is “that’s not what I am saying” then ask]
    • Then, what IS the best you can do?
      • [REPEAT LAST TWO QUESTIONS UNTIL YOU FIND OUT THE BEST CASH PRICE]
  41. How much cash do you need to get right away?
  42. What you are going to use that cash for?
  43. You know your house better than I do. Do you have any idea what the house would rent for if we bought it to rent it out to someone else?
  44. Do you have a mortgage on the property or do you own it free and clear? How much do you owe?
  45. It sounds like a great house. Why are you selling?

Overview of the Real Estate Investor Initial Call Back Checklist

In a future update, I will be adding a detailed narrative to supplement information already provided. In the meantime, contact me if you need help.

Related Resources To Initial Call Back Script™

Back: Initial Call Back Checklist
Up: Sellers Checklist
Forward: Research Checklist

See also…

Feedback on Seller Script

How are you enjoying using the script for talking with sellers for the first time about their property? Want to share a tweak you’ve made? Want to ask a question? Go for it using the comments below.

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