The majority of people like to do business with people they like. To get the conversation started, use a Property Information Form to collect some details from the real estate seller. Receive a free digital download of The Ultimate Beginner's Guide to Real Estate Investing. Hi Jade! This was a great article! We give you 12 steps to real estate wholesaling success here. Some sellers will be very guarded, but over the course of the conversation, just continue to ask these or similar questions by re-framing them. This article will help you to assess those incoming real estate seller leads, and know how to turn them into a viable opportunity. Now, the big moment has finally come. I used this simple thing the sellers and I had in common — we both recently took our families to Disney World. No making offers or earnest money or proof of funds needed. Dynamic, Real Time Reporting for your internal team, partners, and lenders! One mistake that many people make is by pre-judging the lead. Most people try and find commonalities between each other. Analyze new construction flips, as well as Commercial Development! You may simply reply, “I buy houses in the area and fix them up. In order to build rapport, you have to be very astute and observant. If your first call goes well – great! In other words, you have nothing to be nervous about. Subscribe today and get the Oct/Nov issue delivered to your door! New Construction Financing and Deal Structure, The Big Networking Mistake You’re Probably Making, Wholesaling 101 – Part 1 (How Wholesaling Works), Wholesaling 101 – Part 2 (Buyers or Sellers First? Most new real estate wholesalers are concerned about whether or not they will appear confident. Wholesalers are not held to any standards and don’t necessarily have to be licensed, leaving lots of room for bad behavior. This line of questioning needs to be a collaboration of both pointed and open-ended questions. Written by financial journalists and data scientists, get 60+ pages of newsworthy content, expert-driven advice, and data-backed research written in a clear way to help you navigate your tough investment decisions in an ever-changing financial climate! But there’s verbiage in your assignment that can cost you. The calls from real estate seller leads with distressed properties, who are facing foreclosure, or who need to get cash quickly for whatever reason will end up being your best prospects. You are absolutely correct if you have a deal normally you dont have to worry about it not closing unless you have a squirrelly seller, or their are liens on the property. You should practice taking in … Thanks for reading Lisa, I also provide more content regarding wholesaling at equityrealestateblog.com. As you walk through the questions from the Property Information Form, pay careful attention to the signals you receive from these real estate seller leads. Alex, Start analyzing real estate properties, we do the math for you. Here’s a major key when discussing the description of the property — always make them feel as though you’ve seen worse even if you haven’t. Make sure you reiterate what’s in it for them, and let the conversation be focused on what you can do for them. And while nobody is perfect, everybody starts somewhere. The phone rings, you answer it, and on the other end is a motivated seller who wants to sell his or her distressed property as quickly as possible. Daniil thank you for all the free content you provide that should not be taken for granted. Where does the earnest money go, and when do they get their money? Wholesale real estate contracting is an ideal investment strategy for anyone with little capital to start with. 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