Real estate wholesalers often direct the bulk of their time towards attracting leads and closing contracts. Although most wholesalers hire professional cold callers to ensure a steady stream of leads, connecting with motivated sellers is only half the battle.
Finding motivated sellers is a tedious process, and once wholesalers contact a qualified lead, it seems they will do anything in their power to close the deal. And who can blame them? Wholesalers have the ability to earn astronomical profits from a single contract.
But after putting so much effort into finding motivated sellers, wholesalers must ensure that they know how to communicate with leads in an effective, persuasive, yet empathetic manner. In most cases, motivated sellers are in less-than-ideal situations that lead them to sell their properties. Real estate wholesalers must speak with motivated sellers with verbiage that illustrates that selling their property is actually in their best interest.
4 Tips to Optimize Your Conversation with Motivated Sellers
If you’re new to wholesaling real estate and haven’t spoken with a motivated seller in the past, you will likely be nervous. While experience is the best teacher, there are a few things that you should know before speaking with motivated sellers that will increase your chances of success. After professional cold callers send qualified leads your way, leverage the tips below to optimize your sales efforts and seal the deal.
1. Avoid Demanding Language
When attempting to close a wholesaling deal, ease the seller into the process. As a wholesaler, you need to earn the seller’s trust by listening to their wants and needs. Simply being respectful of their situation, rather than pushy or overbearing, will build rapport.
Begin the conversation with an offer, not a request. With this approach, you allow motivated sellers to explain their situation so that you will gain a better understanding of what they desire out of this transaction. After assessing the seller’s goals, you can provide a solution that benefits both parties. If you and the seller cannot agree on a price, offer terms that are favorable to the seller while maintaining your original price point. If the seller is not willing to accept the offer, don’t hesitate to move on to the next opportunity.
2. Avoid Language that Makes Sellers Emotional
There are a wide variety of reasons that a motivated seller is interested in getting rid of their property. Motivated sellers typically choose to sell because they cannot afford to maintain the property, which could result from the owner’s death, a divorce, or job loss. As a result, they may not necessarily want to sell the property — they need to sell it.
In most cases, motivated sellers have an emotional attachment to their property, which makes them hesitant to close the deal. Motivated sellers want to sell for the highest price possible, as soon as possible. For most of these sellers, their home is their only asset. Given their stressful reasons for selling, most have unrealistic expectations about the outcome of the sale. Using words like “home” can remind sellers of their feelings and attachment to the house. Consider using terms that are more transactional in nature, like “property” or “unit,” to guide them through the conversation.
3. Don’t Intimidate Sellers with Industry-Specific Terms
Since motivated sellers may be hesitant to sell their property, the worst thing a wholesaler can do is use language that scares sellers away. Motivated sellers don’t want to feel that you’re rushing them into a life-altering decision they are not mentally prepared to handle. Industry terms like “contracts” could easily make the seller feel pressured into a final decision in the spur of the moment.
Wholesalers will garner better results with a tone that is warm and conversational instead of authoritative. Ultimately, you want motivated sellers to feel comfortable so they understand that the decision to sell their property is entirely in their hands. Ensure that the prospect understands that, although they may be experiencing personal turmoil, your offer can improve their situation. Present yourself with confidence to ensure that the seller understands your offering will serve them as well.
4. Eliminate the Use of Filler Words
We’re all guilty of using filler words such as “like” or “um” during conversations. In the simplest terms, filler words are meaningless words or sounds that do not enhance a discussion. Since the use of filler words is typically accidental, it can be challenging to stop using them. In most cases, people use filler words due to hesitation or lack of confidence.
However, during a business-oriented conversation, these filler words undermine your credibility. Filler words will make you sound unprepared and nervous, meaning motivated sellers will find it challenging to trust you. You can easily mitigate these issues by performing adequate research about the seller and their property. It may also be helpful to memorize the most important talking points and devise a script that allows you to reach your goals.
Find Sellers and Buyers with Call Motivated Sellers
To start building your network, acquiring properties for your portfolio, and turning a profit, enlist the assistance of Call Motivated Sellers. Our team of professional cold callers saves you time and effort by vetting leads for your team. Informing interested buyers and sellers about the benefits of your wholesaling services, we’ll use our expertise to warm up leads, find the best prospects, and set your sales team up for success. With cold callers on your side, you can leave the hard work of lead generation to us and focus on other aspects of your business.
Call Motivated Sellers is an American-based real estate cold calling service that can help raise your sales and provide hot leads year-round. We have years of experience cold calling in the real estate industry, along with access to the best information for buyers, sellers, and agents to help you close more deals.
If you’re ready to leverage the power of cold calling for wholesaling, Call Motivated Sellers is here to help. To learn more about the services we offer, just contact our team today