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Show Summary
In this conversation, Dan Rochon, a realtor and sales coach, discusses the importance of understanding the emotional state of distressed sellers and how to effectively communicate with them. He introduces the CPI communication model, which emphasizes building rapport, asking adept questions, and actively listening. Dan also shares insights on lead generation strategies for investors, the significance of building a team in real estate, and the transition from being a doer to a leader in the business. He concludes with resources for further learning and development in sales and real estate.
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Investor Fuel Show Transcript:
Dan Rochon (00:00)
So this model will allow for you to be successful, whether if it’s on the phone, getting the appointment set and whether that appointment is on Zoom or on the phone or the Zoom getting the face-to-face appointment set or while you’re at the table. And there’s three steps I’m going to give you. these three steps are what I call the CPI communication model. CPI stands for Consistent Predictable Income. And I go through this in my book, Teacher Selling. So what those three steps are is number one,is to be in rapport. Now to be in rapport you have to understand what is rapport. Rapport is just energy.
Dylan Silver (02:10)
Hey folks, welcome back to the show. Today’s guest, Dan Rochon, is a Virginia-based realtor, sales coach, and author. You can find him on YouTube at NoBrokeMonths or on his website, nobrokemonths.com, or on his Instagram or TikTok, at Dan Rochon. Dan, thanks for taking the time today.Dan Rochon (02:30)
My pleasure, hi.Dylan Silver (02:32)
Great to have you on here, Dan. And we were talking a little bit before hopping on the show here, really about a number of different topics. But what I want to talk about today is the mentality that investors can take ⁓ when it comes to their interactions with distressed sellers of all varieties. Oftentimes this gets glossed over. People use kind of like a ⁓ shotgun approach or like a white knuckle my way through this and just make a bunch of offers.but we don’t often dive into how charged that situation can be when you’re walking into a situation with a distressed seller. And so I’m curious if we can dive in there and break down some of the walls here for investors today.
Dan Rochon (03:17)
Sure, so what I hear you saying Dylan is about the ⁓ is about connecting with the distress sellers and understanding that they’re going to be in an emotional state that is going to be anxious at best afraiddistress, going to be in a really of the worst states that you can imagine. It’s one of the, know, it’s on top short of a death or a divorce maybe. And maybe there’s a death and a divorce that’s on top of it as well. All right. And so you’re looking at the very least, they have a distress property that they’re intending to sell. There’s a reason for that distress. There’s stress around that distress. And I think that’s the starting point is to understand who the person you’re talking to, what they’re experiencing. And then once you can experience
that then we can build on top of that.
Dylan Silver (04:06)
When people talk specifically about this idea of like getting at the kitchen table, to me as someone who’s been in this space both as a realtor and dealing with first time buyers, but then also as someone who’s dealt with distressed sellers, you need to be able to get to that kitchen table. Yes, deals can be done over the phone and right now people are doing deals remotely all throughout the country, but that idea still.rings true to me. Can you break down the validity there and then also what that really entails that quote unquote kitchen table conversation?
Dan Rochon (04:43)
Well, let me give you a model.to be able to follow. And
this model will allow for you to be successful, whether if it’s on the phone, getting the appointment set and whether that appointment is on Zoom or on the phone or the Zoom getting the face-to-face appointment set
or while you’re at the table. And there’s three steps I’m going to give you. these three steps are what I call the CPI communication model. CPI stands for Consistent Predictable Income. And I go through this in my book, Teacher Selling. So what those three steps are is number one,
is to be in rapport. Now to be in rapport you have to understand what is rapport. Rapport is just energy.
There was a French priest and philosopher in the early 1900s called Pierre Tellard de Chardin and he taught us that we are spiritual beings in this human manifestation.
When you recognize and understand that, now you have to consider the person that you’re speaking to is a spiritual being in the human manifestation, the same as you are. That awareness in of itself just changes the entire dynamic. You know, because a lot of investors out there just they’re thinking about this like widgets. All right. So number one is to be in rapport. That’s a connection of energy. So that that spiritual energy I talked about that Pyrrhotelard de Chardon taught us.
When we connect energetically, now we can then move to the second step, which is to ask adept questions. And adept question is a question designed to be able to uncover what’s really the motivation, what’s re what they’re really experiencing, what they’re really ⁓ going through. Because most investors, when you say, do want to your property? Boom, no, right?
Dylan Silver (07:15)
Yeah.Dan Rochon (07:16)
Right, exactly, right? You have to be able to walk into it. But when you know exactly what they’re experiencing emotionally and you’re able to ask that through asking adept questions, now you’re able to uncover the truth. Lastly, so first is to connect energetically with rapport. Second is to be able to ask adept question. Lastly is to actively listen.And when you’re actively listening, you’re listening to what’s going on underneath, right? Not just the words, but what’s behind the words. What’s the meaning of the words? And so I’m giving you these three steps, in rapport, ask adept questions, and actively listen.
When you approach every single sales conversation in that way, whether it be from the initial cold call to the face to face appointment at the table, it’s going to allow for you to connect at a level that now you are the provider of a solution. So you’ve identified what is their problem, what is their desire.
And what you do is you input yourself in between as though there’s a bridge and the pain is on the left of that bridge and the desire is on the right of that bridge and you, your solution is the bridge from their pain to their desire. And that would be the framework I would describe for you.
Dylan Silver (08:39)
It’s interesting when you talk about, you know, the importance of really identifying like being in their their same energy, right, you know, not matching their wavelength, because a lot of times people talk about rapport, as if it’s like a small talk and having some type of conversation beforehand. But what I’ve what I’ve personally experienced, and I haven’t like talked about it energetically, but I’ve noticed thatyou I feel like a therapist when I’m when I’m talking with some of these distress sellers like to the point where like I’m letting them know like, hey, we’re we’re where I’m licensed in Texas, you’re going to be losing your home next. Not this Tuesday, but like two Tuesdays from today, there’s an auction your homes at the auction. So like we need to do something. And it doesn’t appear real to them. Like they’ve been leading up to this. And so you’re you’re realizing, okay,
Like I’m not even the person that’s causing this. I’m just kind of bringing in the news and it’s almost this delayed sense of reality there.
Dan Rochon (09:47)
Yeah, it’s not just that you’re bringing the news, but you’re also a solution to their pain. Right? Because let’s give that as a scenario. You’re losing your house in two weeks on Tuesday.It’s going to auction. There could be a better pathway where now we can get you a clean offer
be able to pay off that tax bill, to be able to pay a little bit of the back mortgage. Right. And maybe there may be enough some equity left over in it. Right. Maybe, maybe not. That’s situational. But what I can tell you is if you go to a foreclosure in a week and a half from now, I can tell you that you’re going to be in a worse position than where you are currently. And I’m going to be able to then carry that on and highlight some of those those pains of why they
would be in a worse position and say, listen, I know that you don’t, you’re in a position right now where you are probably hesitant to take action. I respect that very much.
And I just, may I be honest with you? Yes, thank you. You’re in a bad situation. And right now you have a choice between a bad choice and a worse choice. And I’m being transparent and honest with you. But the bad choice, there’s some good parts about that. And I’d like to be able to talk through that with you. Would that be something that would be valuable to you? Yes, yes. And that’s the way that I would approach that.
Dylan Silver (11:32)
There’s a couple different ways that I’ve seen people have the initiate these conversations. Some of them, I’m pretty sure right now you can’t do them any longer. People used to text people when they were on these lists, but I wouldn’t be doing that these days. you could send mailers out, can ⁓ knock on these homes, right? And ⁓ if they opt in to some type of campaign that you have, then of course you can reach out to them.And if there is no auction date set, but you they may be in distress of some kind, or you may see that they may be in some type of distress of any variety. It could be financial, could be the home is in distress, could be, you know, death, divorce, anything, right? You can kind of nurture that lead with everything that investors have at their disposal. It’s almost like you get a little bit of this like scope creep. You don’t really know exactly what the
the best way for you to mine leads is so you may do a little bit of everything. What’s your approach and what would be your feedback for newer investors who are trying to find their main funnel for leads? Would you tell them do a little bit of everything? Would you tell them focus in on one avenue?
Dan Rochon (12:46)
I would tell them to go to their mother and ask their mother, mama, what makes me special? What’s every single thing that I do better than everybody else? Ask your spouse, ask your partner, ask your kids, ask your cousin, ask yourself, what am I good at doing? Once you identify your strengths, then you ask the second question, which is what are all the different ways that I could find business?bandit signs, cold calls, mailers, websites, ⁓ Facebook ads, whatever the case may be. Then, now I take a look at all the different ways that I could find business. I go back to what my mama told me about my superpower, and I look at that superpower and I align that superpower with the way. Then,
I do the activity. And the reason why I give your listeners that advice is because if you like doing it, you’re more likely to do it. Now, a little bit of an asterisk to this entire thing, which is that your goal, no matter what methodology that you employ to be able to get a prospect in front of you, is to get to the in front of them face to face or eyeball to eyeball. And then short of that would be a Zoom call and short of that would be a phone conversation. So I’ve coached ⁓ investors, I’ve coached agents, I’ve coached shareholders.
people that would send out the mail, but then they’d be afraid to get on the phone with somebody. Well, you just wasted a whole bunch of time and energy and money. Right. So again, so just to recap that, find out what you’re really, really good at doing. Find out how I could take those strengths and blessings that God gave me and then implement that into a lead generation tactic. And then you lead generate one to three hours a day, five days a week, non-negotiable, no matter what. When you do that,
you’ll be able to create consistent, predictable income in your investing business.
Dylan Silver (14:35)
When we talk about lead generation, I like the one to three hours. I’ve heard two hours, I’ve heard one hour. I think one to threes, right? That’s where you gotta be. Should it be the same type of lead generation or more or less daily or can you mix it up ⁓ from day to day? One day could be networking, one day could be sending out emails, one day could be cold calls, et cetera.Dan Rochon (14:59)
Yes and no, it just depends on what your options are there because remember that if you’re gaining momentumand you, let’s say you’re coal-cawned every single day, you’re going to gain more momentum by coal-cawn every single day than mixing it all up. Or even if you go into networking every single day. So I’m not suggesting to not take variations, but what I’m suggesting is to find your superpower, find your one way first. Then from your one way, then you would add up to three different ways to do it.
To be able, like in my businesses today, I have at least nine different lead generation strategies for every single business that I own. But the reality of it is, is I’ve been able to scale into that. Okay, so as a solo person, I have a limited capacity. And my recommendation is to build on the momentum because what will happen is that you will become really, really skilled at being a whole caller.
when you do that one to three hours a day, five days a week versus mixing it all up, which you’ll get adequate or good, you know, because you just don’t put the time on task. The reason for the one to three hours is candidly, if I have no business and I was starting today, I would tell myself when I started it, you know, 20 years ago, 12 hours a day of lead generating. Because if you have no business, you have no business doing anything but to get business.
Dylan Silver (16:55)
That’s right. That’s right.Dan Rochon (16:56)
All right.And the reason why I, and for years I taught three hours, because I really honestly, I believe it’s three hours, but I recognize as I’m coaching people that I wasn’t able to effectively communicate and influence people to do three hours a day. And so that’s when I changed it to one to three hours a day, because I figured it’s better that you do one hour a day, five days a week, then five hours a day, one day a week for the same reason as what I said about the momentum. It’s, it’s, getting the cadence and the habits.
Dylan Silver (17:21)
SoI want to pivot a bit here, Dan, and ask you about investor agents. I consider myself an investor friendly agent ⁓ and work with a lot of investors. And on this show, I’ve had many ⁓ agents in single family investing and multifamily investing in RV parks, mobile homes and so forth. And as someone who’s who’s built businesses and teams for investor agents, when they’re looking at their business,
that oftentimes people will get a little bit of this shiny object syndrome and kind of begin to move away from being a realtor. But I also think there’s a whole avenue within real estate. You don’t have to build a brokerage, but you can build a team, right? And you can have people taking off some of the workload for you. ⁓ Do you think that there’s enough being said about the business that you can build in real estate without doing all of the transactions
yourself? Do you think that there’s enough investor agents and enough agents in general who are who are looking at building teams, not just so that they can, you know, help everybody part of their team, but also because they don’t have to then spend 12 hours a day indefinitely, right? ⁓ Doing a lot of the things day to day things that a realtor would need to do.
Dan Rochon (18:40)
Well, let me first start. There’s a lot in that question, so thank you for it. But let me first start with I consider myself an agent investor. All right, so let me tell you how that how that helps me. All right, and then and then I’ll go back to try to answer your question the best I can.But as an agent investor, when I approach a homeowner who’s distressed, I can ask them the following question. Now I know, is this an opportunity for me or one of my investor people I represent or is this a listing? And the very easy question I ask them is, is it more important? Is time more important to you or is money? Depending on the answer to that question, now I tell them how I can help them. Go back to the CPI communication model. That’s an adept question there, by the way.
Right? So is time more important to you or is money? If they say money’s more important to them, then I say, well, if I could put together a plan for you that could get your property sold and you have a check in your hand in 30 days from now, would that be valuable to you? Yes. Yes. Now I approach them as an agent. If money’s most important to them, then I say, well, if I can come up with a plan, I got a check in your mailbox a week from today. Seven days from now, it’s in your bank account.
Would that be something to be valuable for us to discuss? Now I’m approaching it as an investor. All right. So it’s, it’s, it’s a divergence of there’s an opportunity here. Now your question revolves somewhere around the lines of how to scale, how to organize yourself. Yeah. How to build. And so there’s four pillars in a business. All right. So the four pill and these, go through this and teach to sell in the book and the four pillars is belief in yourself. That would be your foundation. So imagine you’re building a three story building.
Below the ground would be your foundation and that’s going to be called belief. All right, because you have to believe in yourself before you take any action to be effective. Now the first level, this is first level outside the ground. So the belief is the basement. That’s the foundation. Now it’s lead generation, which we’ve already talked a little bit about that. And I’ve given you some, strategies on how to be able to do that. That will let you be able to make money.
All right, so the foundation is belief. The first floor is lead generation that lets you make money. On top of that goes into the question that you’re asking, which is organization. When you’re able to build an organization, now you can make money and you can save time. You can make more money. All right, so that’s the second level. remember, imagine that building, the foundation is belief. First floor is lead generation. Second floor is organization building. And the final floor on top of that is called leadership.
Leadership is defined as teaching somebody else how to think so that they can get what they want. When you put those four pillars on top of each other, now you’re able to build a business. So it really just depends on where you’re at. But why would somebody want to be able to get to, you know, to build an organization? And when you think organization, I want you to think people and systems. The reason why you need people and systems in your business, if you want to grow anything, is because if it’s just a one person, one man or one woman show, you run out of time.
All right, because that’s an asset that none of us have more than anybody else.
Dylan Silver (21:38)
Yeah. ⁓Yeah, I mean, I’ve talked with a number of agents who are ⁓ like some of the best agents in their city on this show, right? People that I some of them I know very, very well and are and are actually friends of mine. And it’s interesting because you build this huge business and then you get burnt down that you don’t want to do it. Right. And so it’s like, well, what good was that? Right. Because because you know, it’s a little bit of it too, is, you know, you’re pouring money back into the business too. So
the second that you hop off that hamster wheel, it feels like it’s all gone. Some of it, I do feel like doesn’t get talked about enough, which is that you don’t just have to build a team just for the purpose of building a team, but also to allow yourself to still be in the business while not doing all of the same, putting in all the same man hours that you were to generate the traffic that you were before if you train your team up, right?
Dan Rochon (22:40)
Yeah, so you think about this, there’s five activities that will allow for you to be successful as a doer, right? Whether that’s the investor or an agent, whatever the case may be, those five activities, I call that CPI time. Lead generate is number one. Number two is to convert the leads to meet with you. Number three is to go on the appointments to get hired. Number four is to negotiate. And number five is to practice what you’re gonna say.Okay, so that’s called CPI time. Those are five activities of being in the business. But working on the business, okay, this is like being the business owners from being the technician to the business owner. This is called leverage time. So that those five things to be able to build a business. Number one is to recruit talented people to you. Number two is to select the right people to be in business with. Number three,
is to train those people so they can reach their goals. Number four is to lead those people so they can reach their goals. And number five is to motivate those people so they can reach their goals. So those are 10 activities, five in your business and five on your business. Lastly, number 11 of building a business would be to manage your money.
Okay, so I gave you five things that you do in your business, five things that you do on your business, and then something that a smart business person is gonna do, a smart person is gonna do is just manage your money. Lastly, the last thing I wanna say about this is when you start as a business owner, no matter what business you’re at, I recommend you spend 90 % of your time finding business. Where I am in my business today is I spend 90 % of my time finding talented people.
Dylan Silver (23:55)
Yeah.Dan Rochon (24:10)
So it evolves through time. You want to get to 50-50 as quickly as possible. Okay, so if you can imagine what your life would look like so that, you know, you’re starting 90 % of my time, I’m looking for business, I’m looking for business, I’m looking for business, but that evolves through time when you’re intentional.Okay, now my world is I’m just looking for talented people. Guess what? I have so much more freaking fun doing this than banging the phones any single day of the week. I love banging the phones too. I’m good at it, right? But this is more rewarding to me. This energizes me much more.
Dylan Silver (24:41)
Yeah, and I think you don’t get to here without going through the phones or without having put in the man hours. But then once you have that ability to then translate that to the people in your team, it has this compounding effect, which I think we’re talking about here. we are coming up on time here, Dan. Where can folks go? Where can our audience go to learn more about you at NoBrokeMonths.com, the project that you’re working on? I do know you have a book coming out. How can folks reach out to you?Dan Rochon (25:11)
Yeah, I’m very fortunate and grateful that Simon & Schuster, one of the top five publishing companies has agreed to publish my book called Teach to Sell, why top salespeople never sell on what they do instead. And the book is designed to be able to help you understand how to influence without being salesy. Okay, so the idea of being a salesperson sort of like, I don’t like that. It’s because you’re doing it wrong. And so the book will guide you through the four pillars that I talked to you about today will give you specificguidance on how to be able to build a team, or how to be able to believe in yourself, how to be able to find the business, how to be able to build a team, and then how to be able to lead others so they can think, so they can get what they want. And if anybody wants to, ⁓ you know, wants my help in anything, they can visit www.teachtosellbook.com. That’s teachtosellbook.com to get their book. And it’s a simple way to be able to create consistent and predictable income.
Dylan Silver (26:02)
Dan, thank you so much for coming on today.Dan Rochon (26:05)
My pleasure.
