(Wholeselling) When cold calling potential sellers...

[Angel Moreno]

When cold calling potential sellers and they ask “how much are you looking to offer?” How do I answer this question when I haven’t done much research on the property? I’m mass calling on a list of high equity/absantee owners in my target area.

[AJ Jefferson]

This is how I handle that:

Simply tell the homeowner, "Sure sure yes, I can get you an offer, no problem... I just need to get some more general information (you're thinking naturally I cant make an uneducated offer) from you.. In particular about the property, probably take 5 or 10 minutes of your time if you are ok with that? and then we will see if we can get you an offer. ok?."

(Here I would ask a big open-ended question like, "What can you tell me about the property, etc" .. but always end with a question, that's how your steer the conversation always end with a question)

That's my experience to start a cold call conversation, and move past that objection- and the owner not wanting to build rapport. move forward, depending on the personality type, any opportunity presented, when the homeowner leaves off the main topic line, never interrupt, that is your chance to start to build rapport, and get to know him/her, and talk about non-property issues/ topics. LISTEN, and listen some more depending on what he/she says, is how you prepare your next question. I'm never in a rush to bring it back to the property, somebody said (it was jordan belfort), "In-between the (2) straight-lines is where all the magic happens"! real gem kid!

An offer is all you got, that is your only 'carrot' if you will, the 'carrot' you are holding that your HOMEOWNER WANTS FROM YOU to start your interaction, so hold on to that. Keep it in your vest pocket for a bit, I can parlay that offer 'carrot', into them showing /walking me through the house at times when appropriate.

Summary: you will start- off often something like: 'would you like a cash offer on your home?' to open up the conversation, take all opportunity to build some rapport, and what you REALLY NEED TO KNOW here is there any motivation, distress, or need to sell this house (or any other- don't forget to ask!!) that would not fit a normal RE- agent transaction (which is less than 4% of all US-wide sells). You are screening for motivation, or a need for speedy funds, financial distress, and more BUT..

HOWEVER, offer value! you can offer the owner (as a knowledgeable Real Estate Professional), even if it helps them keep their home, sell with an agent (more profitable for them- if they have time- can repair- ect), or help the owner stop foreclosure (i believe I help an owner every week it seems- start a loan mod, and more) EVEN IF WE AS A PROSPECTING WHOLESALER EARN NO $$. Do you understand this- you CAN NOT just take! Get IT?? The Universe starts to open once you can learn to be a 'Go-Giver'!!

For what its worth, Just my 2 cents...

Originally posted by @Angel Moreno:

When cold calling potential sellers and they ask “how much are you looking to offer?” How do I answer this question when I haven’t done much research on the property? I’m mass calling on a list of high equity/absantee owners in my target area.