Stigma: How Wholesale Equitability is Still a Hard Sale

[Will Barrett]

It's in the best interest of all parties to consider to give each other the time of day. 

In my opinion the most difficult aspect of wholesaling is convincing an investor to take you seriously. I am a licensed real estate sales agent in Florida working under a wholesale broker. I'm upfront across the board and wont work with any investor I don't know-- because of this I ask people to have a 20 minute meeting with me in my office, or at minimum  a video call with me as I go over my disclosure and our closing process (I don't like surprises at the closing table either.) I also like to get a real idea as to what investors are looking for so that I can keep that in mind when looking for deals. Great deals that benefit all parties are hard to find-- but that's what I strive for.

"Send me your properties-- no I don't need to meet you." -Mr.Flipper

It's like pulling teeth to get that time and effort out of most investors initially. They want lists and deals-- deals I've spent a lot of time working on. "Send 'em, no I don't have time to have a conversation."

I hate wasting time too-- but I'm looking for a relationship as we're dealing with a lot of time and effort on my part as well. I spent time working out a deal that makes since for the seller, I've done the numbers - meaning that's alot invested a lot of time and energy just to hand it over to someone I've never even spoken with.

FYI: "Give me the address," is NOT a request. It's an order. I don't work for myself to have orders barked at me over text.

Yes, I'm a wholesaler, but I'm looking to build longevity and wealth just like the next person. I want to send my great deals to people I work alongside and people that have respect for my part of the deal. If finding real deals was easy no one would need me or my team. 

The people I like to send deals to... well they took the time to sit down with me and because they took the time they know that I care about their futures. I know what they want. I know what cap rates and ROI they require and what neighborhoods to focus on. I'll send those deals over with a smile-- the good, the great, and every now-and-then the incredible. I won't pressure them if the deal doesn't make sense for them, because I know them and their success matters to me.

So, give people the same respect that you'd like to be granted-- they deserve it just like you do. I just know that through real communication and relationship we'll all find more success and joy not just in this business, but in this life. 

-Will D. Barrett 

[David Greene]

@Will Barrett

This is a really good perspective and I’m glad you’re sharing it. It’s the same for real estate agents having buyers demand the best “deals” and not wanting to sign an agreement to work together, and loan officers being shopped for rates.

In the business of real estate, basically everyone works off a commission. This means everyone works for free-until a deal closes.

It makes it all too easy to waste peoples time, or have expectations that are completely one sided. I commend you for sticking to your principles and refusing to do business with someone too disrespectful to even meet with you.

New or novice investors, please take note. When you hear people complain “there are no deals out there” or “everyone is a liar”, keep in mind the people who you want to help build your wealth are saying the same things about the investors.

If you can’t understand the other person’s position (and respect it) you won’t last in this business very long!