How to say NO.

[Kevin Farrell]

Hi everybody. This post is for anyone who has trouble saying NO to a deal.

So you mailed out some low offers and the calls are coming in and you even have a few signed offers in your mailbox. Yay! First, you should check them out and see which ones are the best deals. What about the ones you don’t want?

You may be wondering “How can I tell someone who accepted my offer and signed the Purchase Agreement that I don’t want to buy their land?” This used to really bother me because I created the expectation that I wanted to buy the land. I felt “obligated”.

In spite of low offers there really is land out there that we don’t want. I have seen some deals that I would not take for free. I want to offer a few tips on how to say NO.

#1 You don’t want to do the deal at the price that you offered: Tell them that you have reviewed the property and can only give them $XXXX for the parcel. I have snagged some good deals this way. If I just say no, nobody wins.

#2 You don’t want the property at all: Tell them that you can not purchase the property because it does not meet your investment criteria. This works very well. I tend to let the seller know this as soon as I make the decision. I use this several times a week and I have never had anyone call me up and accuse me of treating them unfairly. Many of them reply to thank me for the quick and courteous reply to their call.

You need to learn to say NO more than you say YES. Keep the best deals and let the others go.

Kevin Farrell - Moderator
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Schedule a 60 minute call - https://calendly.com/kevin-629

Topic

[Neil H]

#21518

Thank you for sharing, Kevin. A few weeks back I made a series of return phone calls to interested sellers in which I had to say ‘No’. Just being honest about the reason (topography, access, etc.) and then giving them hints as to how they might better market the property with a listing agent (suggested price, drone photos, etc.) always resulted in the seller thanking me for my time and guidance.

[Kevin Farrell]

#21521

Neil – I do the same thing. When I tell the seller I can’t purchase the property I then tell them that if they want to sell for more than I am offering they can list it with a broker and find a buyer. I have actually had a women tell me “I don’t want to list it with a broker, I want you to buy it.” I guess I built some rapport with her. This approach is so refreshing to the seller that they are impressed with my candor and usually thank me for helping them.

Making lemonade out of lemons.

Kevin Farrell - Moderator
Need more help?
Schedule a 60 minute call - https://calendly.com/kevin-629

[Matt Rogers]

#21526

Agree 100%. Don’t buy a deal you don’t want to just because someone sent back a signed purchase agreement. I’ve made the mistake of buying a few bad properties just to “save a mailer,” and it’s far worse than not buying at all. You can talk yourself into something if you really want to. If you’re sending out enough mail, there will always be another deal around the corner. Say no politely and firmly, and offer to help the seller in any way you can, even if you’re not going to buy their property. It goes a long way.

[Nate]

#21552

Thanks for sharing Kevin, and very timely for me! I tried your suggestion yesterday (#2) for a property I didn’t want. I offered some recommendations on how they can sell their land, and they were definitely appreciative of my call back and the guidance. I think they could feel that I was trying to help them, while still not purchasing their land. I definitely didn’t expect the positive response when turning down their property. Thanks for the tip!

[Author]

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