Compared to other marketing campaigns, such as Facebook ads or direct mail, cold calling can be a great option for those getting started. 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. Are you the one selling the property? While price will always play an important role, there are often other factors at play. This question will help you understand the current condition of the property. Have you worked with motivated sellers in the past? Listen carefully to how the seller responds and adjust your approach. Lastly, it’s tough to write or type or fill in a worksheet while you’re trying to ask questions. Every real estate investor’s best friend is a motivated seller. I’m working on getting more retailers in the Boston-area right now – and that means lots of phone call follow up. Cold calling scripts ask questions about … NO! Final Thoughts. As you begin your communications, remember how important it is to make a great initial impression while also gathering key information. Understanding how to find motivated sellers will require investors to learn how to appeal to those individuals intent on selling their own homes. Home » Organic Tea Blog » Important Questions to Ask your Organic Tea Wholesaler When you sell organic loose leaf tea, it’s important to have a good relationship with your organic tea vendor. Real estate scripts for cold calling are pre-planned phone conversations that help establish a connection with a possible buyer or seller. When you have a warm lead, your friendly ask will open the door to continue the conversation. This could give you first access to several deals, especially if your competitors are not doing the same. The above frequently asked questions from home sellers are all great questions. Without a motivated seller, it’s very difficult to create a great deal in real estate. Be complimentary without being condescending. ... You want to ask about discounts you could be eligible for. Knowing how much the seller paid is helpful for a couple of reasons. 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. 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 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. While you are in it to secure a property, make it abundantly clear that you are also there to help the seller. There is key information you need to gather, but it doesn’t all have to be done in this first contact. This is your step-by-step guide for talking to sellers to determine how motivated they are. If you want to turn a motivated seller lead into a successful deal, it is important to talk candidly to the seller. Keep the conversation flowing while asking. You want to ask these questions because maybe there could be … I’m wondering if [owner’s name] is available? Many real estate investors only focus on the 95% of available properties readily found on the MLS. Plus you will begin to establish credibility. Here are some crucial questions to ask … Repeat the seller’s name, but don’t overdo it. But remember, the idea of selling a house directly to a real estate investor is new for most people. 3 Ways to Get the Phone Ringing and Find Motivated Sellers Now In the previous article (article 2) we discussed whether you need to find buyers or sellers first. They need you to make their problem(s) go away. Be careful when approaching this question, as their reason for selling may be personal. 6 Most Common Newbie Wholesale Questions: Answered Now. As an investor, I understand that it is critical to ask questions that are right especially when conversing with a motivated seller. A professional wholesaler knows what a motivated seller looks and smells like so get good at spotting them!! Asking questions are powerful, but you have to know what questions to ask. From what order you ask the questions to how … You’re well served to follow up with contacts. Investors should then focus on crafting a compelling message, which should include a captivating headline and an empathetic statement. Use your name and always include the name of your business. Conclusion. Using Facebook to advertise for distressed or motivated sellers doesn’t have to be scary, expensive, or risky. ... Wholesale real estate has been a buzz word in the real estate industry for quite some time. This distinction is important for investors preparing to reach out to different sellers. If a seller mentions something you can comment or connect upon, do so. You want to ask these questions … One of the more efficient ways to find motivated sellers on Craigslist is by searching for property listings by keyword. Sometimes I get their voicemail (which is another post in it’s own right), but other times I actually do get the buyer. Follow our tips for a successful direct mail campaign, and you may find yourself with a list of motivated sellers faster than you think. Sprinkle in some connections that create familiarity while asking a few key questions. Write a post stating what you are looking for and include information about your work in the area. This is a discovery phase for both you and your seller. Listen carefully to how the seller responds and adjust your approach. How To Find Motivated Sellers In 4 Steps. Simply remember the important questions to ask if you want to realize success with a motivated seller. 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. Don’t be afraid to write a message in your ad as well, remember you want to seem personable, as to stand out to motivated sellers. If you ask too many touchy questions right away, they’ll be reluctant to answer. Remember, you’re talking to a person who may be very interested in selling their property. Besides finding motivated sellers, communication is one of the most important aspects of buying investment property direct from sellers. In many cases, distressed property owners are willing to sell quickly and for below market value. I listened to an audio where you mentioned to log into epartner to get the list of questions to ask sellers. I’ll explain: a distressed property is one in need of significant repairs or renovations before it can be habitable. Share your experience in the comments below. 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. Basically this is the way it goes. Job Opportunity: Some property owners may get a new career opportunity and have to move on a short timeline. 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. Click here to register for our 1-Day Real Estate Webinar and get started learning how to invest in today’s real estate market! What kind of dogs do you have? I was hoping to speak with (him/her) about buying property in your area. When appropriate, it’s also helpful to get some background on the financials and the property. 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. Can you explain the homebuying process from start to finish? Once you’ve asked a few questions about them, their property and their situation, you want to determine their level of interest in selling and working with you. FortuneBuilders is a real estate investing education and business development company, providing coaching, resources and tools to start a real estate business. How are list price and sale price different? It is important to understand the intricacies of direct mail campaigns to realize long-term success with this marketing medium. This is something you’ll need to know before working with them to ensure that they fit within your business structure. I understand that, [seller’s name]. Do you or someone you know have an interest in selling a house? You know the one. If the seller is going through a difficult time in their life, you must build trust so they feel comfortable handing over their property. Often suppliers offer incentives. The process can be long and complicated for first-time homebuyers. Additionally, many investors will fail to take the size and content of bandit signs into consideration. If this is a truly motivated seller (and you can tell … Remember, some sellers consider refinancing a 1st mortgage results in their 2nd mortgage. [ Want to own rental real estate? What is your reason for selling? Using Facebook to advertise for distressed or motivated sellers doesn’t have to be scary, expensive, or risky. And you want to find sellers that are motivated, ready, and willing to follow your direction and terms. The reason for this is not because cold calling is ineffective, but instead because most people are uncomfortable doing it. If you don’t have inventory, aka motivated sellers, to buy from, then you aren’t going to have inventory to sell. Each seller … Background. After your introduction, try something like this. So the question is, how do you find motivated sellers in the first place? Ask the Realtor what their thoughts on open houses are and make sure you’re comfortable with their response. Sign placement is crucial to the success of any campaign. | Distressed properties | Common reasons for motivated sellers | Finding motivated sellers | Working with motivated sellers | Should you use cold calling? Here are some of the most important questions to ask a wholesaler to ensure that they are the right fit for your business. Think about your own reaction when you get a similar call. When the owner isn’t ready to sell, it doesn’t mean they never want to sell. I have rental property near there – it’s so close to downtown (or “We renovated a house over on 5th St near there.”). How to Use Twitter to Find Qualified Leads. Motivated Sellers FAST" By: Mike Butler. By working with a motivated seller, you can help them out of a precarious situation while simultaneously securing a good deal for yourself. As you layout your signs, remember your contact information is crucial and should always be readable. Your job now is to start the relationship building process, gather information, qualify them as a good potential seller and take the next step – make the offer. It is a great idea to ask whether or not there are any financial obligations attached to the property. Sharp Investors Create Deals. Give a brief description of what you do – and connect it to the local area to establish familiarity. With a better idea of where they are coming from and what they are looking to get out of a deal, you will be able to make a more attractive offer. Don’t be afraid of off-ramps – they can strengthen the connection. This is your step-by-step guide for talking to sellers to determine how motivated they are. Assuming you are already paying for a standard phone plan, cold calling is possible with little to no extra cost. Keep the conversation flowing while asking questions and furthering your connection. 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. Oh, sure I know that area well. It’s important to ask them in this order because you’re gonna ask questions many folks would label private and confidential. Ultimately throughout your interactions, you want connect with prospective home sellers in a way that makes your interest in buying their property trustworthy, viable, easy and most important, a real solution to their problem property. Include a friendly “ask” and state your business. Maybe you have plenty of capital, an extensive real estate network, or great construction skills— but you still aren’t sure how to find opportunistic deals. How long have you lived over there? The moment you contact a motivated seller in real estate, your intentions will be divulged—which isn’t necessarily a bad thing. Follow our motivated seller script and you can help ensure you have smooth communications with any sellers you encounter. $97 VALUE questions in the beginning and then building up to harder questions like “Why are you selling,” during the call, you should also always be listening for certain motivational cues that will reveal what that seller … 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. This tried-and-true marketing tactic is comprised of small billboards secured in a number of locations with the primary purpose of garnering the attention of distressed sellers. Ask about return policies and a guaranteed sell-through, which would provide you with cash or store credit for returned products. 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. If you don’t fully qualify your leads early on, you’ll waste a lot of time with people who will never sell you their house. Don’t be afraid to let the seller know your intentions. Never approach motivated sellers from a position of power, but rather on an equal playing field. Using a test close will really give you a peek at the mind of a motivated seller. 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? You should also ask them who they have already sold the products to (Brick and mortar, online sellers, etc). In this course you'll discover: How to create a presence online and offline to attract motivated sellers and cash buyers How to stand out from the competition and become the go-to wholesaler in your area My HIGHEST CONVERTING methods of finding motivated sellers … | Motivated seller questionnaire | Motivated seller script. When the rubber hits the road, it’s the numbers on the property that determine if your prospect has a property that you should continue pursuing. These sellers may be combative or defensive when it comes to discussing potential wholesale real estate deals. 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). There’s a method to my madness here in developing rapport with your seller. I want to make sure you get off to a great start in 2017 by answering these questions. Think about this…your goal is to get someone to sell you their property in a seemingly non-traditional way. Here Are Your Questions. Add value in your prospects eyes with every follow up – demonstrate your credibility, interest and availability to work with them. Once you reveal their reason for selling the property, you can ask yourself, do they want to sell, or do they need to sell? 5 Must-Haves Of A Real Estate Credibility Package, Commercial Real Estate Financing Basics You Can't Live Without, How To Calculate Portfolio Return: An Investor's Guide, Buying Pre-Foreclosures: An Investor's Guide. A seller can be motivated for several different reasons. Again, my name is [your name]. Try looking for keywords that highlight a seller’s intent, such as “sell fast” or “must sell”. The purpose of asking these questions allows you the opportunity to pre-screen and quickly identify not only a motivated 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. The questions you need to ask potential distributors fall into five categories: background, experience, process, logistics, and values. What has been done to maintain the property in the last year? Investment Opportunity: It may seem odd, but sometimes other real estate investors will be the most motivated to sell. Pay attention to similar signs as you drive around your market area, and even consider posting small variations similar to postcards on message boards in places you frequent. As you may recall, we focused on two key areas: questions pertaining to business risk and also those covering your personal motivations as a seller.. As with any budding relationship, the questions you need to ask … Luckily, our motivated seller script can serve as a guide while you prepare. Before you end the call, get as much contact information as possible and stay in touch using a variety of methods. Additionally, a good piece of direct mail will include examples of benefits, a call-to-action, your contact information, and a strategic declaration. “Mr Seller… Qualifying Questions to Ask Motivated Sellers. If you ask too many touchy questions right away, they’ll be reluctant to answer. Did they tear the place up?” … Of course, any conversation you have with a person will differ in one way or another. It’s safe to assume that no progress will ever be made on a deal with a motivated seller if you aren’t willing to put in the time and listen to what they have to say. Final Thoughts. Your information is secure and never shared. Visit the local unemployment office. Actively investing in real estate, FortuneBuilders is uniquely built to provide investors with the right education and systems for success. Instead use open-ended questions that get explanations. Perhaps the seller faced divorce or an unexpected job loss. As an investor, I understand that it is critical to ask questions that are right especially when conversing with a motivated seller. You should use cold calling if you are looking for new ways to reach motivated sellers. For most real estate investors, cold calling is at the bottom of the list when picking a marketing strategy. However, if the opportunity presents itself, it is important to know and understand why they are in a hurry to sell the property. Find, Fund & Flip Property With Your Phone. This helps clarify their intentions and urgency. Read More » 7 Must-Ask Questions to Qualify Leads in Real Estate. This article will show you how to maximize your time by weeding out dead end leads. After all, they represent an attractive opportunity to secure deals below market value or at a faster pace. 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. Hopefully it has been helpful to you! "15 Questions to I.D. The biggest thing you could do with these fsbos is to ask questions (as follows) and the LISTEN LISTEN LISTEN. Sounds harsh, but many of those that are there could be in … You will generally find these questions in the forums; however, they either go unanswered or the answers vary tremendously.. First, you maybe asking yourself — is Marcus legitimate enough to answer these questions? #3 Ask them why their selling. sellers says 75k . Ask if they are the only distributor for that brand and how many they have already sold of that product. As you become even more comfortable with seller phone calls, you’ll find questions and commentary that work best for you and your style of communicating. That’s why it’s also one of the critical questions to ask a motivated seller on the first call. As you become more comfortable with seller conversations, you’ll be able to easily flow from conversation to questions. We’re local investors looking to buy several homes over the next couple of months – and we particularly like your area. Motivated sellers are everywhere, you just need to know how to find them. Before we jump into the strategies for finding motivated sellers, let’s take a closer look at how a motivated seller differs from other types of sellers. Ready to start taking advantage of the current opportunities in the real estate market? 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. Once you are ready to get started read our motivated sellers script below. Negotiating with Motivated Sellers and Wholesaling Houses Part 2. For many real estate investors, distressed properties and motivated sellers go hand in hand. The RIGHT Questions to Ask Sellers Every time you speak with a seller, you want to handle the call using the same process. On the other hand, a motivated seller does not always signal that the property is in poor condition. 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. In some cases, the reason for selling the home may be personal or emotional. The best thing investors can remember is to always be respectful of their time and communication. Is there a mortgage or back taxes on the property? 2 1 1 1 1 1 1. 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. Avoid yes or no questions. This initial campaign can result in a list of potential sellers, which can then be used to identify motivated sellers. 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. jQuery(function(){ But most of those properties don’t have enough equity to make them good investment properties. The list price is the price you list the home for sale. The answer is simple: communication. When it comes to identifying a motivated seller, you want to know who is making the decisions and who to build a relationship with. Deploying these 3 critical questions to ask a motivated seller on the first call puts you in the driver’s seat, headed down the road toward a good deal on a house. }), Connected Investors Inc. Ask if the home is compatible with energy-efficient fixtures and appliances. Keep in mind, however, that this script is simply an outline of how a conversation might go. 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. I have two dogs that would play ball all day if they could. questions and furthering your connection. These property owners would classify as motivated sellers, as they are hoping to find someone to take the property off their hands. One of the best ways to work with a motivated seller is to get to know them on a personal level before you even ever discuss the semantics of a deal. Targeting the Motivated Seller… and The Solution The Big Differences Between Pre-Foreclosure and Vacant House Owners…And Why It Matters. This is a great way to get at whether or not they are the deciding vote on selling the house. If you are wholesaling real estate, you need to know how to find motivated sellers. This guide is meant to help you get started with your first easy, low-risk ad, with a tiny budget of … Motivated sellers provide us with amazing opportunities as real estate investors to really help people and create a solution to their problems. Ask your agent to explain the process to you from beginning to end, and take notes, being sure to ask … Remember, real estate is a people business; any hopes of making headway is contingent on the relationships you build. Most likely you wonder who is interrupting you and what “pitch” is coming next. Think of this question as a good way to avoid surprises down the road. Well let’s get back to our little discussion on negotiating with motivated sellers. For example, a seller might mention a hardship, a divorce, or a small business investment that went bad. Instead use open-ended questions that get explanations. TIP: Don’t be “that” caller. Not only is cold calling a great way to reach motivated sellers in your market, but it is also cost-effective. Is there a minimum order? Remember, they don’t have to sell to you. Add value in your prospects eyes with every follow up – demonstrate your credibility, interest and availability to work with them.