In this seller mastermind, we’re going to talk about how we can acquire sellers for our real estate business with just a few simple tools. Jaime and Ian are very successful real estate agents in Texas who have dedicated their careers to helping people sell swiftly and helping agents get the hang of handling transactions well.
Our Seller Masterminds happen every Thursday at 10am CST and are designed to give buyers great tips for working with sellers and the chance to engage in meaningful conversations about the challenges of working with sellers. Save your seat here!
In this session, we dive into how to use seller net sheets to engage with sellers and convince them to work with us instead of another real estate agent.
Acquiring Sellers with Net Sheets
Seller net sheets are documents prepared by real estate agents that show a seller what they are likely to net in their home sale. A good net sheet will take an estimated sale price and factor in the seller’s costs like REALTOR® fees, title insurance, attorney fees, escrow fees, etc. to determine how much of the price actually goes to the seller.
It’s important that sellers realize that net sheets are only estimates. While you probably have a good idea of how much their home will sell for and how much they’ll end up with, there are sure to be factors that influence that one way or another that you can’t fully account for.
If you want to show a seller that you’re serious about helping them sell and that you know what you’re talking about, a seller’s net sheet is a great way to really give their trust in you a boost.
How To Use a Seller’s Net Sheet
One of the best ways to use a net sheet is in a listing presentation. It’s likely that you are going to be one of many real estate agents interviewed by your potential client. Therefore, if you want to stand out, you should definitely present the information that the seller wants to know—how much they’re going to make in a sale.
Another great way to use a seller’s net sheet is through direct mail. You can create and send out a flyer that includes the net sheet for a specific home and share that with the homeowner. You don’t want to push them too hard toward a sale, but you do want to get them thinking about how much they could earn.
In today’s market, sellers are making a lot of money. If you share a net sheet through direct mail, email, or even in the course of a listing presentation, be sure to bring in stats from the last three years or show to exemplify how the value of the seller’s home has increased.
With the seller’s market we’re in now, it’s entirely likely that the seller is going to be selling their home for hundreds of thousands of dollars more than it was worth when they bought it. Obviously, any seller is going to be happy to hear that they could make such a fantastic profit on their home.
What To Include in a Seller’s Net Sheet
The exact elements you’ll include in a seller’s net sheet may vary depending on what state you’re in, what kind of loan the seller has, etc. However, there are a few things to keep in mind when you’re preparing a net sheet that will really benefit your seller.
- How much of their current loan is paid off.
- How much they have left in taxes from last year.
- Taxes withheld at the title company.
- Title policy and fees.
- Real estate agent commission costs.
- HOA costs.
- Payments for surveys or home warranties, if applicable.
- Necessary repairs and moving costs.
You may include other factors as well, but these are the basics to focus on that will really help you show your seller what they can expect to pay and earn in a sale completed with your help.
Using Seller Net Sheets
As you can see, using a seller’s net sheet is crucial for helping your seller have the most successful sale and most pleasant experience possible. You want your seller to go into the transaction confident that they know what’s going on and not too ambitious about how much they’re going to earn.
Again, the bottom line is that you want to earn a seller’s trust. Show them that you are worthy of trust because you’re there to tell them the truth, even if no one else will. If you can earn your trust and follow through on your promises, you’ve got yourself a lifelong relationship with another fantastic real estate client.
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