How to talk to potential clients, and finding motivated sellers

Question

hello, I am brand new at wholesaling and have been learning everything I can on the subject. However books and articles can only teach you so much so I thought I'd ask experienced wholesalers these questions. I have sent out many letters to possible leads in my area. Once I get a call from a potential client how should I handle the conversation? What are some key points that I should always get across to them and what are some Strategies that I can use to not only to filter out the motivated sellers but also keep them interested in selling their property. Any advice would be amazing and very helpful. Thank you

Jared Sorrentino

David Dey · Answer

@Jared Sorrentino, @Lachonda King, I love your enthusiasm, and the fact that you are asking questions and looking to continue to learn shows you are on the right path. Lachonda, first I have no doubt that you are a person of charisma, and I'm sure you can carry a conversation quite well, however very likely the enthusiasm itself is causing you some difficulties. Many of the investors out there can be quite jaded about all the people that "just listened to a get rich quick seminar," and are now wasting their time. (Many times they forget they started out the same way)The secret to impressing them is to stand out to them in some way. The best way that I have figured to impress them from the beginning is to be proactive and reach out to them.Here is a step by step process on how to do that.1) get a list of cash buyers in your county. (You can do this by one of 3 ways)A) Get a list from the realtor on your team (what, you have no realtor on your team??? Go back and listen to a number of presentations right here on BP on how to build your team)B) buy a list of cash buyers from one of the many list services you have probably seen on here. (What, you don't know about list services? Look up the term list services right here on BP that will give you the names of a number of reputable services out there)C) Go into your local clerk of courts/register of deeds and look up the deeds transferred in the last 30 days. (What, you don't know how to do research in public records? Um.. Well you might find a lil bit here on BP but in this case, best call the local clerk of courts/ register of deeds in your county and ask them how to do that specific search on their online site.. Or you may have go in)2) how ever you get your list, narrow down your list to businesses buying real estate, trustees of land trusts, IRA's purchasing and just plain repeat buyers. (i.e. The same guy buys 3 times in 30 days, he's not buying for himself)3) once you've picked out the investors from your list, look them up on google, on your Secretary of State site (corporation search) back in public records. You'll find that many of them will be pretty easily found. (They are often marketing for deals so you'll find websites, you'll see listings, you may even find them here on BP)4) now that you have found their phone numbers, call them and introduce yourself. Reference the deal that they bought in the last 30 days and let them know that you have many deals that are similar, then get their exact criteria. The fact that you were proactive and resourceful enough to find them will usually impress them enough to give you the time of day. All that being said, I fully agree with @Chris M on this. If at all possible, (and you could possibly use the same tools I just gave you to do this) you should first hook up with someone more experienced than you and shadow them to learn, and not just this aspect but all of it. If you look at many of my posts you will see that I am a huge proponent of getting yourself a mentor. The best way to not make a beginner's mistake is to learn from someone who already had made that mistake. I hope this helps!!

Lachonda King · Answer

Really glad to see this post. I'm finding myself to have the same issue, however, i find it odd because i consider my self to be a person of charisma and i feel i can carry on a conversation pretty well. But i agree with @Cody Campbell, and i'm going to apply his advice!

Chris Mason · Answer

@Jared Sorrentino - I think I can improve the framing of your question:And the answer is that you just go do it. A non-trivial part of my job is to sell offers to listing agents, who incidentally are salespersons and the most sold-to profession there is. You can go watch youtube videos or read books on selling, but ultimately there's nothing that will replace getting out there and doing it.If you can find some way to be around someone more experienced than yourself that you can listen in on, and lift what they do that works for you and who you are, that's a gold mine right there. When I was fresh off the loan originator assembly line, I would listen in on every single purchase offer lender's sales call to a listing agent that was made in my entire branch.(People not from the Bay Area, or that are from the Bay Area but can't seem to ever get an offer accepted for some mysterious reason, are going "WTF is a purchase offer lender's sales call?!" right about now.)

Cody Campbell · Answer

Jared Sorrentino talking to experienced wholesalers can only get you so far too, just like books. The only way is to just do it, mess up, do it better and repeat. Once you've talked to ten people it'll start coming easy. But action is what will home your skills. Good luck