sellers says 75k . Cold calling scripts ask questions about … Are you the one selling the property? As an investor, I understand that it is critical to ask questions that are right especially when conversing with a motivated seller. “Hi, this Drew with XYZ Homebuyers. “Mr Seller… Establishing a genuine relationship with those you intend to buy from and sell to gives you a distinct advantage, and motivated sellers are no exception. Not only is cold calling a great way to reach motivated sellers in your market, but it is also cost-effective. Did they tear the place up?” … Talking to motivated sellers does not have to be any more stressful than talking with other potential real estate connections. By working with a motivated seller, you can help them out of a precarious situation while simultaneously securing a good deal for yourself. Interested in Learning How to Invest in Real Estate? This guide is meant to help you get started with your first easy, low-risk ad, with a … When the owner isn’t ready to sell, it doesn’t mean they never want to sell. Before you end the call, get as much contact information as possible and stay in touch using a variety of methods. This can be frustrating at times. On the other hand, a motivated seller does not always signal that the property is in poor condition. Plus you need to know more to determine if the prospect is worth your time and effort. This helps clarify their intentions and urgency. Follow our motivated seller script and you can help ensure you have smooth communications with any sellers you encounter. This initial campaign can result in a list of potential sellers, which can then be used to identify motivated sellers. As you become more comfortable with seller conversations, you’ll be able to easily flow from conversation to questions. It is a great idea to ask whether or not there are any financial obligations attached to the property. You know the one. What is your contact information? Truly motivated sellers will have no problem answering any question you may have. Remember, you’re talking to a person who may be very interested in selling their property. For example, sports, hobbies, military service, schools, pets… just about any topic can become an off-ramp to further the conversation and your connection to the seller. Your Introduction – Establishing Credibility and Interest; Discovery – Learning More; Qualifying – Is this a Good Prospect? This is a discovery phase for both you and your seller. For many sellers, this is foreign idea, so it’s up to you to bring them around to the idea of selling you their house. These investors may be motivated to sell quickly, allowing others to secure great deals. jQuery(function(){ Investors should first determine the type of direct mail pieces they want to use. Before you end the call, get as much contact information as possible and stay in touch using a variety of methods. The opportunities that present themselves by working with buyers and sellers carry just as much weight as working with those in real estate, if not more so. They need you to make their problem(s) go away. Write a post stating what you are looking for and include information about your work in the area. But be cautious. Tell them what you intend to do and how you intend to do it, but the idea is to create a narrative that will benefit both sides. Once you are ready to get started read our motivated sellers script below. Whatever you decided, at the end of the day, your wholesaling business will be dead unless you build a steady, reliable pipeline of motivated seller … Your information is secure and never shared. Your job now is to start the relationship building process, gather information, qualify them as a good potential seller and take the next step –. Through a combination of writing and searching existing Craigslist ads, you can find motivated sellers quickly and for free. Compared to other marketing campaigns, such as Facebook ads or direct mail, cold calling can be a great option for those getting started. 254 N. Front Suite 100 | Wilmington, NC 28401. Sprinkle in some connections that create familiarity while asking a few key questions. In general on your first phone contact, you’ll want to focus on three primary goals whether you are talking to owners of vacant, pre-foreclosure, estate or other kinds of homes. You want to move to where you’ll have more room to roam? [ Want to own rental real estate? But remember, the idea of selling a house directly to a real estate investor is new for most people. The reason working with motivated sellers is so attractive is because the transaction can move more quickly than a traditional closing timeline, and in most cases, there is even more room to negotiate. Luckily, our motivated seller script can serve as a guide while you prepare. What could the seller’s answer tell you about their mindset, sense of urgency and willingness to sell their house to you? One of the biggest benefits of posting on Craigslist is that it is entirely free, making this an attractive and cost-effective option for investors. This guide is meant to help you get started with your first easy, low-risk ad, with a tiny budget of … If you want to get motivated, ask this question right now. Here are some crucial questions to ask … Besides finding motivated sellers, communication is one of the most important aspects of buying investment property direct from sellers. Here are some of the most useful strategies when trying to find motivated sellers: While the costs are minute, bandit signs offer unique advantages for real estate investors. You should also ask them who they have already sold the products to (Brick and mortar, online sellers, etc). First, … Why are you thinking of moving? Motivated sellers are everywhere, you just need to know how to find them. Investment Opportunity: It may seem odd, but sometimes other real estate investors will be the most motivated to sell. In a typical direct mail campaign, investors send letters to sellers who are potentially motivated to sell by using a mailing list. There are still some questions you should be asking: 16. So to make sure you listen and engage in a good conversation with the seller I highly recommend downloading a call recorder on your phone. Ask the Realtor what their thoughts on open houses are and make sure you’re comfortable with their response. However, if the opportunity presents itself, it is important to know and understand why they are in a hurry to sell the property. You should practice taking … Think of this question as a good way to avoid surprises down the road. It’s important you’re on the same page as the Realtor when it comes to open houses. Is there a minimum order? 3. 10 Questions Retail Buyers Will Ask … Here Are Your Questions. You’re well served to follow up with contacts. Investors may also find that motivated sellers are more willing to negotiate terms of the contract when compared to their unmotivated counterparts. 6 Most Common Newbie Wholesale Questions: Answered Now. When appropriate, it’s also helpful to get some background on the financials and the property. I went to school near there. Every time I get the right information; it helps me to ascertain whether I am trying to iron a deal with a motivated seller or just someone who is not serious doing business. This is your step-by-step guide for talking to sellers to determine how motivated they are. There is also the chance that the seller inherited the property following the death of a loved one, or it is even possible that the property is one that the seller owned for many years but is no longer able to care for. Identifying motivated sellers, on the other hand, is as simple as utilizing a few key marketing strategies, asking the right questions, and building genuine relationships. You want to ask about discounts you could be eligible for. Changes In Tax Laws: Occasionally, changes in local regulations or tax policies could motivate investors to sell some assets. Feel the motivation and take massive action so that at the end, you leave a positive legacy and you make a good impact on the world. You should practice taking in leads at least 2-3 times a day until this becomes natural for you. The goal in your earliest conversations is to not only establish connection and rapport; it’s to gather key information that tells you if the property is worth pursuing and if you are able to solve the problems with their property. It breaks up your introduction and ability to quickly get their interest. Share your experience in the comments below. This article will show you how to maximize your time by weeding out dead end leads. The best thing investors can remember is to always be respectful of their time and communication. We can't help anyone unless we are "Getting" where they are, what is their pain (if any---most fsbos don't even want to pay 3-6% to a realtor, let alone give up 15-50% to an investor). TIP: Don’t be “that” caller. You should also ask them who they have already sold the products to (Brick and mortar, online sellers, etc). So, I’d like to give you a few more ways to get wholesaling prospects. On the flip side, if they tell you about how they just remodeled the place top to bottom and how it's better than all the neighbor's houses, you'll know it's probably not a motivated seller. Keep the conversation flowing while asking questions and furthering your connection. Once you have prepared your sales discovery questions for the different areas of the sales call, you must consider how to ask open-ended questions. The key to having a successful wholesale real estate business begins by having a quality list of “motivated sellers.”. Try looking for keywords that highlight a seller’s intent, such as “sell fast” or “must sell”. Final Thoughts. This is a great way to get at whether or not they are the deciding vote on selling the house. So relax…just pick up the phone and breathe. Each seller … Remember, you’re talking to a person who may be very interested in selling their property. Materials can range from short and long letters, yellow letters, postcards, or even lumpy mail. However, to avoid getting flustered and forgetting your place, remember the following questions to ensure a smooth transaction: How are you? Copyright © 2020 FortuneBuilders, Inc. All Rights Reserved. Key point to remember: You should focus on dealing with the truly motivated sellers and forget all the rest. But be cautious. Motivated seller simply means the owner is eager to sell their property; for whatever reason, they are ready to walk away from the property at hand. A professional wholesaler knows what a motivated seller looks and smells like so get good at spotting them!! While you are in it to secure a property, make it abundantly clear that you are also there to help the seller. Seller motivation is a key factor in being able to connect with the seller. Again, my name is [your name]. It is important to note that while the impending deal is a business transaction to you, it is a lot more emotional for the respective owner. There is key information you need to gather, but it doesn’t all have to be done in this first contact. We’re local home BUYERS here in [name your area]. Instead use open-ended questions that get explanations. ... Wholesale real estate has been a buzz word in the real estate industry for quite some time. Use your name and always include the name of your business. Targeting the Motivated Seller… and The Solution The Big Differences Between Pre-Foreclosure and Vacant House Owners…And Why It Matters. Be careful when approaching this question, as their reason for selling may be personal. This is something you’ll need to know before working with them to ensure that they fit within your business structure. After all, they represent an attractive opportunity to secure deals below market value or at a faster pace. 2 1 1 1 1 1 1. I’ll explain: a distressed property is one in need of significant repairs or renovations before it can be habitable. FortuneBuilders is a real estate investing education and business development company, providing coaching, resources and tools to start a real estate business. Start your conversation by asking how they are doing, and be genuine as you build a relationship with any potential sellers you speak to. The last and major part of any real estate negotiation is the close. Basically this is the way it goes. These property owners would classify as motivated sellers, as they are hoping to find someone to take the property off their hands. Include a friendly “ask” and state your business. Lastly, it’s tough to write or type or fill in a worksheet while you’re trying to ask questions. While price will always play an important role, there are often other factors at play. How are list price and sale price different? This article completes our series on "wholesaling" real estate. Understanding how to find motivated sellers will require investors to learn how to appeal to those individuals intent on selling their own homes. They are told to do this because they know the numbers show that if you ask for the business a good percentage will give it to you. Find, Fund & Flip Property With Your Phone. Don’t be afraid to let the seller know your intentions. These sellers may be combative or defensive when it comes to discussing potential wholesale real estate deals. Identifying motivated sellers, on the other hand, is as simple as utilizing a few key marketing strategies, asking the right questions… Every time I get the right information; it helps me to ascertain whether I am trying to iron a deal with a motivated seller … The key to finding out if you're working with a motivated seller is to ask questions that will uncover their real motivation to sell. Both distressed properties and motivated sellers can represent a potential deal, but investors should be careful to avoid assumptions (despite potential similarities). Think about this…your goal is to get someone to sell you their property in a seemingly non-traditional way. Only then will you be able to build a positive working relationship and get in their good graces. Just remember to remain silent after you ask the question to give the seller time to think. To move a deal forward, at least with motivated seller leads, you must find out what it is they truly want. This distinction is important for investors preparing to reach out to different sellers. You want to ask these questions … If you are careful to avoid these common mistakes, you may find that bandit signs yield massive attention from motivated sellers. However, due to its popularity, it is one of the best websites for real estate investors looking to generate new leads. The list price is the price you list the home for sale. If you are ready to start talking with motivated sellers, download our no-fail script and start rehearsing today: Motivated sellers represent a unique opportunity for real estate investors with any level of experience. Almost every great deal involves a MOTIVATED SELLER. Here are 10 key questions you should consider asking suppliers before doing business with them: 1. Every real estate investor’s best friend is a motivated seller. Actively investing in real estate, FortuneBuilders is uniquely built to provide investors with the right education and systems for success. How To Find Motivated Sellers In 4 Steps. If you ask a motivated seller about a cash as-is offer, you’ll see how fast (and often how drastically) he will reduce the price. It is … Once you have put up your advertising and marketing to attract motivated sellers for your wholesale business, you must know how to take a call and screen potential sellers. If you ask too many touchy questions right away, they’ll be reluctant to answer. Successful wholesale property investors will be required to speak to motivated, often emotional or vulnerable, sellers who may need a solution to their problems. As a result, investors should be careful not to pry when approaching the conversation. When it comes to identifying a motivated seller, you want to know who is making the decisions and who to build a relationship with. The answer to this … By Leslie Collins | Submitted On October 22, 2012. | Motivated seller questionnaire | Motivated seller script. This helps clarify their intentions and urgency. I’m wondering if [owner’s name] is available? You can unsubscribe at any time. The site attracts millions of users each month, making it a powerful tool for investors seeking distressed sellers. What is your reason for selling? Questions to ask a home seller include: ... the seller may be motivated and more willing to negotiate. I want to make sure you get off to a great start in 2017 by answering these questions. Sign placement is crucial to the success of any campaign. So the question is, how do you find motivated sellers in the first place? Try to tease that out (if they aren't just spilling their guts) and then ask some basic questions about the property (beds, baths, how old is it, WHAT DO YOU THINK IT IS WORTH - I try to slide that in there in the general questions because then later in the conservation I already know what they think they are getting for the property and I don't have to ask it as a separate question). If you can position yourself in a way that places their needs ahead of your own, you are already well ahead of the curve. After your introduction, try something like this. For the most part, time is just as important. If this is a truly motivated seller (and you can tell … Talking to Sellers Rules of Thumb Ask Questions and Listen: Your primary role on any call with a seller is to ask questions and listen carefully. If you're interested in finding motivated sellers this way, ... Delinquent Tax Lists are a super way to buy properties at wholesale prices, so I recommend looking into it. If you can get past the initial fear of calling strangers — you can find a lot of success identifying motivated sellers by simply picking up the phone. Keep in mind, however, that this script is simply an outline of how a conversation might go. I have tried to lay out for you some of the major points when you are wholesaling houses and talking to a motivated seller. Assuming you are already paying for a standard phone plan, cold calling is possible with little to no extra cost. Seller: “I want to sell because I was renting the property and just got rid of an awful tenant.” You: “wow that sounds terrible, how long did it take to evict them? Follow our tips for a successful direct mail campaign, and you may find yourself with a list of motivated sellers faster than you think. Sounds harsh, but many of those that are there could be in … }), Connected Investors Inc. Previous Selling Prices. You want to be a reporter, not a broadcaster. Click here to register for our 1-Day Real Estate Webinar and get started learning how to invest in today’s real estate market! It is important to be personable during any communications with a potentially motivated seller because their situation could be the result of a personal or emotional stressor. This typically happens if a renovation project doesn’t go according to plan, but it could simply be a need to reallocate their time to other investments. Let’s take look at how to approach motivated sellers in real estate deals: As a real estate investor, remember that the relationships you build are not restricted to other industry professionals. Investors can also identify motivated sellers on Craigslist by posting ads of their own. If the seller is going through a difficult time in their life, you must build trust so they feel comfortable handing over their property. And interest ; Discovery – Learning more ; qualifying – is this a good deal for.! 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Signs have gained notoriety over the next couple of months – and connect it the. Price alone to identify motivated sellers are all great questions remember the important questions to ask whether not. Of all available properties readily found on the other hand, a spouse or! Again, my name is [ your name and always include the name of business! Positive working relationship and get in their possession so they approach each conversation with care from. Answering these questions be afraid of off-ramps – they can strengthen the connection one! Buzz word in the last and major part of any real estate investors only focus crafting... The Realtor when it comes to discussing potential Wholesale real estate investing education and business development company providing... That ’ s intent, such as “ sell fast ” or “ must sell ” and.