The “I Saw Your House For Sale, How Can I See It?” Guys. Hmmm …maybe.

These kinds of calls can be a mixed bag, but, you can learn a lot from them and they often convert into sales.

A lot of these buyers might not be quite ready to buy yet but actively looking for something to jump out at them as a potential deal.

Sometimes it’s just your salesmanship that turns them from a “Maybe” to a “Yes” if they feel like they the voice on the other end of the phone really gets them. So, feel them out. Then see where they really need help deciding.

A lot of these kind of callers have already purchased at least one property, so they are already familiar with the sales process. Time Saver

They may not have enough cash on hand just yet, so they will be making offers up to the amount of the current cash they do have on hand. So they’re taking shots.

They might not have enough cash on hand for THIS particular property, but one you might have something else in your inventory, one in the pipeline, or even something you know another wholesale might have in their inventory you can turn them onto make it into a joint venture profit share if you’re smart about it. Agents, same thing.

Some buyers call because they may have some pressing reason to buy now, a story, something like ” My parents can lend me up to 20k to by a house right now.” or “I’m ready to rent out my house and buy another property, I want to get into doing real estate now”. All kinds of reasons.

Someone said it once, I think it was Grant Cardone, that “Price is a Myth.”, the idea being that people pay for value, they will come up with more if they they believe they are getting way more value. So don’t be afraid to suggest to them another better value higher priced property. Somehow, they always find more money in those cases.

To close a deal with these guys, you have to find out if they want to buy and hold a property or flip a property, and where they want to buy. So let them tell you all about what they are looking for. And take notes.

When callers start asking you about After Repaired Values and comparable sales, they are usually intermediate investors. Sometimes they are just double checking their own research, but if that’s the case, they will usually bring up what comparable sales they found as soon as you mention some.

Side Note:  It’s always good to know the comps in case anybody questions your values, but providing them is a sticky subject. No matter what you do, tell each and every buyer they should do their own comps. This is a MAJOR source of the friction between cash buyers, wholesalers, and agents because we always try to sell the customer on the potential After Repaired Value when selling but we always tend choose the most conservative estimate of profit to reduce our risk when we are buying ourselves. No need to fistfight about it, just know where the other guy is coming from and why, and you can usually work it out.

Truly experienced Cash Buyers already know the comps before they call you. These kinds of calls might be curiosity calls and usually come from guys that come from a strictly financial background but that don’t have a lot of experience in that particular geographical area, so they are asking you to help them try to fill in a few blanks to help them figure out if it’s a deal.

So have as much of that information as you can handy, then suggest how you would proceed if you were buying it, such as, “This is a buy and hold move, too tight for a flip from what I’m seeing, so go by these numbers.” Now you sound like an expert, and you’re providing value. Everybody wants a flip, so they will appreciate your honesty and maybe come to you for other advice on this and other matters.

This is how trust is built.

Other things to listen for on these calls, the phrase “If the deal makes sense.”

This phrase DOES have some validity, but it can also be used as double talk as it seems to be to the go-to phrase for guys who are not sure about the property but they still want to seem professional and confident.

See above explanation on “the numbers making sense”, but it is really up to the potential investor to see if their rehab numbers actually jibe with what you have told them, which means you tell them to “trust, but verify” and go see the property with their contractor.

If they actually do go and do that, then you should remember to hold them in higher esteem because it means that this cash buyer is actually willing to do the necessary work required to move forward.

Many “cash buyers” talk about buying, but then never bother to actually do get up off their @$$e$ because they are really just lazy bastards looking for you to do everything for them. Unless they are putting you on retainer, I would stay away from these kind of buyers, they can be a huge headache. Sometimes it’s not worth the money.

Those easy deals, those “home-runs” should only go to your proven cash buyer customers, your VIP’s so to speak. Don’t be afraid to say that to these other guys either. Frame control. If they want to be a VIP and feel special too, then they have to prove themselves to you, not the other way around.

I did this technique most recently with a guy who I now consider a friend, let’s call him Frank (not his real name). Frank did not like one bit how I didn’t take his offers seriously, mostly because all his offer were way too low.

And I kept sadistically yanking deals away from Frank until he actually came close to my desired offer price on a deal and I decided to accept his offer under my terms and conditions.

After a few heated discussions on the phone, we finally met so I could pick up a deposit check. Even with that he tried to usurp my authority by giving me a personal check when I clearly instructed him to give me a certified check. i told him point blank, “we could be settling sooner but now we have to wait until this check clears.”

He fussed about it but grudgingly agreed. Then, we shook hands and he trusted me with a check.

Even though Frank kept having trust issues, constantly calling me, double-checking everything I said, even though there were a couple unexpected wrinkles that needed ironing out before closing, we got it closed.

In the end he got an amazing deal from me.

And now we are friends. We talk almost every week now, I’ve referred business to him. We might actually soon be partnering on a rehab project together that I’ve seen his finished product and now that we have trust in one another’s skill sets.

So here’s the property that he bought wholesale from me…

And here’s what he did with it…

And perhaps by the time this course is released, I’ll have a video of a project we have currently partnered on.

All this to say, don’t be afraid to put people to the test.

It helps us all grow.

Takeaways

  • Wholesalers – Start with The Golden Question, dig a little deeper if they don’t qualify perfectly, figure out where they can fit in, where you can best help them.
  • Agents – Same thing, Start with The Golden Question, dig a little deeper if they don’t qualify perfectly, figure out where they can fit in, where you can best help them.
  • Cash Buyers – If you are just starting out, find a guy who you can grow with like Frank did with me 🙂

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