Do you follow up after appointments?

Question

From what I’ve come to understand, when the seller says, “Let me think about it”, you’ve lost out on the deal.” When somebody gives you a “maybe” or they push you off or they put you on as an option, you’re going to lose out on the deal. That’s not what I want to do and that’s not how I want to be wholesaling real estate.

I’ve heard that you set up the expectations for the appointment so they know exactly what’s going to happen so they can put their guard down and be at ease with you. I understand you let the seller know “Hey. Here’s the process. Here’s what we’re going to do. Here’s how much time it’s going to take and here’s what’s going to happen at the end.”

“Mr. Seller. At the end of our appointment today, I’m going to get to know you very well. I’m going to get to know your house, your family. You seem like a wonderful guy. And you’ll have a decision to make. And you’re going to say, ‘I really like you and I want to work with you’ or ‘I don’t like you. I don’t like what you’re offering. I don’t want to work with you and that’s a ‘no’.’ Either way, I’m ok with a ‘yes’ or a ‘no’, but a decision has to be made. Are you ok with making that ‘yes’ or ‘no’ decision at the end of our conversation today?”

I also understand that a “maybe” means you didn’t meet their expectations and they’re very uncomfortable with you and a “maybe” 9 times out of 10 is just an excuse to find someone else that’s a better fit to buy this house with different terms.

I heard from one real estate investor that it’s a good idea to throw in a “If you’re not interested, I’ll just take your money and use it to buy somebody else’s property.”

I got my first deal from following up after the appointment without conditioning them. But I’m thinking that I lost out on a lot of deals because I haven’t been using this strategy.

Do you condition your seller to say “yes” or “no” at the appointment? Do you follow up after the appointment?

Jay Hinrichs · Answer

I started selling in 1975 and learned from some of the top land sales guys of that era.

one thing I loved and used to become a top producer is  NO is OK.. its powerful and it works.

my pitch was .. U would not let me see you if your not interested so I dont need to act like a used care sales men.. but I do expect to do business .. However i want you to know that NO is OK and we can part as friends.. but if you ready to move forward then i expect a yes and to do our transaction.   if you give them permission to say NO  you will get either a NO or a YES not a maybe which is just weasel out because they are afraid to say NO.. it worked in the 70s it worked in the 80s and I am sure it works today.

Jaron Walling · Answer

The way I see it wholesaling (in general) is sales. It's "reading the room" and making adjustments on the fly given the body language, property condition, market, and seller motivation. It's safe to assume half the battle is getting into a property, meeting with a seller, and taking up there time. A lot of these sellers are short on time for various reasons. Waste it and you'll get nowhere.

The source of motivation is everything. Finding that source and leveraging is the secret. A follow up appointment does nothing if you can't find the motivation and pounce on it. If you're texting with a lead get them off messenger and get them on a call. It's the fastest way to break the ice and hear changes in there voice. In my opinion I'd never say "I'll take my money and use it to buy somebody else's property". That's an invitation to sour the mood and kill a deal but it depends on how you're talking to the seller.

Jerryll Noorden · Answer

No, this is factually wrong. Please know this. I am not here to be argumentative. I am here to teach others and provide value. You will improve if you can put ego aside and really understand the message behind my posts.

The source of motivation has nothing to do with anything. Completely irrelevant.

People that say this often don't truly understand the concept of motivation.

A motivated seller is not someone that wants to sell their house.

Not even someone that needs to sell their house.

Not even someone that begs on your knees to please buy their house right now in cash or they will explode.

None of these are motivated sellers.

A motivated seller is ANYONE willing to accept an offer below market value "completely irrelevant of the reasons why". Who cares why they want to sell? How are your numbers going to be calculated differently? How is your solution of buying their house fast, going to change? It doesn't! You are not going to bend your rules because of a certain situation!

Wholesaling is not sales!

Wholesaling the way everyone is doing it maybe...

Wholesaling where the seller is your adversary, maybe...

Wholesaling where the seller is your client, and you enter a relationship with them where you are supposed to offer your services to them and help them, it is not sales.

Everyone constantly brags about how amazing their closing skills are.

What most do not understand is that when you are dealing with a motivated seller, you don't need closing skills, sales skills, or scripts.

You tell them how it works.

DONE

PERIOD

THE END>

I can offer you this much because of this this this and this.

No? OK, how about some creative financing?

You present options. You do not enter a sales pitch. Doing so takes a hit on your credibility.

The mistake here is you are not dealing with the right audience. Almost no one in the wholesaling community is.

Example:

Do you think I am THAT good of a salesperson to convince this person to sell their house for 10 dollars?

Now look at these other purchases.

Look at the purchase price.

Our wholesale fees range from $50K to $120K, and not on $1M houses.  Our ARV's are under $300 most of the time.

The reason I get these spreads is because of my understanding of motivated sellers,  providing value, and being honest and direct.

If you are not getting these numbers, you are simply doing it wrong. You are doing it like everyone out there is preaching it. Stop listening to the gurus out there. They even do this wrong!

Kerry Noble Jr · Answer

The Blessing is in the followup

Crystal Smith · Answer

We set up our systems and processes to continuously follow up on offers until we see a property has been sold.  Key word- Systems.  When someone agrees to meet with us to see their property and we make an offer I actually expect them to be hesitant.  Do dependent on the results of the meeting we trigger a follow-up workflow that allows us to keep tabs on the property until it's sold. The workflow includes emails, phone calls, snail mail, and text messages,..... Once a quarter there's a task associated with that owner and the property.   It's automated, repeatable and it works.

William Broxson · Answer

Some people are just hesitant and refuse to make a decision. What Jaron said is correct, you need to know their motivation, maybe they can't sell for 2 months, maybe your only meeting with 1 person but 2 people are on title or someone has dower rights. If they say let me think about it consider asking what they need to think about maybe it's a question that you can help answer.

I find a lot of deals are made in the follow up. Send them a card the next day, thank them for time.

David Ramirez · Answer

Agree 100% with @Jaron Walling!

Wholesaling is sales and marketing! It's all about asking the right questions, less about the property's condition, and more about fact-finding and finding common ground to build rapport. Time kills deals. If the seller is motivated and you did a good job building rapport and finding their "why," you should have a good shot at reaching an agreement. Sales are made by following up, but the introduction is what will make the difference when the seller's time to sell comes.

I would recommend reading "The Go-Giver" by Bob Burg and John David Mann. This book will help you set your mind on the right way to better approach conversations with sellers.

Best of luck!

Do you follow up after appointments?

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