In my latest video, I show how Amelia Asante secured a rent-to-rent deal over the phone. This was part of my latest financial freedom challenge. Learning how to negotiate is a huge part of the property business because the property business is a people business. If you can talk to people, understand what they want and give it to them, you can make it huge in the property game.
When you are starting out with a strategy like rent to rent you need to be able to communicate well both in person and over the phone. You may be just starting out but you need to sound like a seasoned professional. Part of doing that is having the correct knowledge to be able to accurately answer any questions and part of that is simply confidence. In this article, we are going to look at 3 tips for negotiating a rent-to-rent deal over the phone.
1. Keep the first call simple
When you make your first call to secure an appointment to look at a property, you don’t need to explain the ins and outs of rent-to-rent. You also don’t want to lie and say that you are looking for a property to live in yourself. If you try the former, the person you are talking to is likely to be confused and simply say ‘no’. On the other hand, if you do the latter, when you turn up for the viewing and explain you want to do a rent-to-rent they will be annoyed that you misled them.
The solution is simply to say you will be wanting the property as a corporate let for your company and you won’t be staying there yourself. This is 100% true and you can explain the details in person.
2. If you are new, use it to your advantage
If you are totally new to rent-to-rent and you have just opened a company, this isn’t a problem. If you are asked about this by the landlord, explain what training you have done and the value you bring to the table. Explain that, unlike many established agencies, you will be able to give them your undivided attention. Also explain that you are extremely motivated to do a good job because you will need to get a testimonial to attract clients.
Being new isn’t a disadvantage and you shouldn’t look at it that way. Help the landlord to see the benefits of giving you a try and show them that you are up to the task.
3. Be confident and professional
Even if this is your first call, make sure to feel as though you have been doing this for years. Your self-perception will come through on the phone. If you mess up a call, don’t worry about it. Learn from what you did wrong and make the next call.
Make sure you know your stuff and can answer any questions the landlord is likely to have. If you really don’t know the answer to something, don’t be afraid to say that you will get back to them with the answer. It is better to get the correct answer to them later than guess and say something totally incorrect. This confident, professional approach will put you in an excellent position to succeed in the rent-to-rent business.