🏡

RJ Bates II's King Closer's Formula Overview

Jan 10, 2025,

The King Closer's Formula 2.0: RJ Bates II

Introduction

  • The session revisits the King Closer's Formula, a popular methodology for closing real estate deals.
  • RJ Bates II, self-titled "King Closer," shares updated tactics and experiences.
  • Objective: Help viewers close more deals in their wholesaling business without scripts, manipulation, or deceit.

Core Principles

  • Be a Deal Finder, Not a Deal Manufacturer: Focus on identifying genuine opportunities rather than creating them through manipulation.
  • Listening & Questioning: Essential elements of the formula—ask questions, listen to sellers, and determine if you're the right solution.

The King Closer's Formula

  1. Verify Seller's Intention

    • Confirm the seller wants to sell the property immediately.
    • Early clarity saves time and avoids unproductive conversations.

  2. Establish the Price

    • Ask for the seller’s asking price early in the conversation.
    • Helps identify genuine opportunities.

  3. Discover Motivation

    • Use open-ended questions to uncover seller motivations.
    • Actively listen to their responses.
    • Avoid steering conversation away from their central concerns.

  4. Analyze and Comp the Deal

    • Evaluate the property and its surroundings via street views, comping software, etc.
    • Determine if the asking price matches the property's assessed value.

  5. Close the Deal

    • Build credibility, explain the closing process, and ensure the seller understands each step.
    • Use a closing question to determine the best price the seller can offer.

Seller Buckets

  • Right Price, No Motivation: Rare; often scam-related.
  • Wrong Price, No Motivation: Indicates the seller should list with a realtor.
  • Great Price, High Motivation: Ideal scenario; proceed to closing.
  • High Motivation, Wrong Price: Requires education and negotiation; most common scenario.

Mindset and Philosophies

  • Embrace No: Accept rejection as part of the process to reach genuine opportunities.
  • You Are the Buyer: Adopt a posture that the seller is offering you their property.
  • Don’t Overthink: Simplify processes and eliminate unnecessary steps.
  • Be Prepared: Have contracts and tools ready for immediate use.

Practical Application and Call Demonstrations

  • Call demonstrations provided live examples of the formula in action.
  • Emphasized importance of following the formula and being persistent.
  • Engaged with viewers by giving away resources and emphasizing learning.

Conclusion

  • Acknowledged the support of viewers and encouraged engagement to improve reach.
  • Encouraged viewers to simplify their processes and adopt the King Closer's Formula to enhance deal closure.

These notes cover the key points laid out during RJ Bates II's presentation on the King Closer's Formula. The session provided both a theoretical framework and practical demonstrations to aid students in understanding and applying the methodology effectively.

Full transcript