Everyone is interested in wholesaling real estate, and who can blame them? Successful wholesalers can earn high profits without a sizable upfront investment. Unlike other forms of real estate investing, wholesalers don’t need to meet the requirements for purchasing a property because they are only responsible for transferring the contract from the seller to the buyer.
Many people attempt wholesale real estate, but few succeed. However, the real estate wholesalers that reach their ultimate goals have certain character traits that others lack. The good news is that if you’re not born with these qualities, you can continually develop them over time. Wholesaling real estate isn’t for everyone, but if it’s right for you, you’ll probably have the following traits.
If you’re in the wholesaling industry, you speak to a wide range of individuals in the hopes that you will connect with a qualified lead. In most cases, you will speak with innumerable contacts with little to no interest in your offering. Sometimes, potential sellers will be downright rude to you. This constant rejection can be a fatal blow to your self-esteem if you don’t take a disciplined approach to compartmentalize negative feedback.
The best real estate wholesalers stick to their established practices and procedures even when they’re not in the highest spirits. If you want to become more disciplined in your approach to real estate wholesaling, create a system for your goals and stay dedicated to it.
As a wholesaler, you must develop the ability to stay driven and focused on your ultimate goals before the results materialize. The primary difference between goal-oriented people and those who are not is “goal clarity.” Essentially, goal clarity is when a person has a realistic idea of their goals, a timeframe at which they want to get there, and a plan that allows them to achieve their goals.
If you struggle to set and maintain goals, get started by asking yourself where you see your wholesaling business going in the next five years. Next, create a plan to achieve your goals based on small, actionable steps you can take daily. Every day you’ll get closer to your goals, and your business will grow step by step.
As a real estate wholesaler, you must be able to connect with people from all walks of life. Contrary to popular belief, anyone can learn to be more personable over time. Prospects will be much more interested in learning about your services when you approach them with a positive, upbeat attitude. People naturally gravitate towards those with a cheerful disposition. Try to get to know each of your prospects deeper, and you’ll be able to form long-lasting relationships with potential clients.
It can be challenging to maintain a sense of confidence, mainly when setbacks occur. The ability to stay confident and motivated when things get tough separates successful real estate wholesalers from the ones that don’t make it. Confident real estate wholesalers know that it’s impossible to please everyone. They can uphold their confidence by setting their own standards for success and aligning with them.
5. Strategic with Money
There are many reasons that most businesses fail within the first five years, and they’re not always what they seem. Many small businesses have no problem marketing their services or obtaining clients, but some business owners do not know how to balance their revenue with their expenses.
In this sense, the real estate wholesaling industry is no different. Successful wholesalers have the opportunity to earn astronomical profits with relatively low upfront investment. Still, few understand how to manage money in a way that will maintain their company for years to come. If this sounds like you, take the time to study business management and finance to make financial decisions to allow your wholesaling business to thrive for years to come.
Successful real estate wholesalers have the self-awareness to understand their strengths and weaknesses. It can be challenging to identify your strengths because people often overestimate their abilities. In addition, people don’t want to admit their faults to themselves.
But when a real estate wholesaler has the self-awareness to assess their traits, it’s much easier to delegate tasks and optimize their time. For instance, if you’re not great at talking to new people, it wouldn’t make sense for you to start cold calling when you could easily outsource the task to a team of professional cold callers.
The wholesaling industry can change on a dime, but successful wholesalers can adapt to any up-and-coming innovations. In other words, you must be able to change your approach if your current strategy isn’t getting the desired results. The best real estate wholesalers stick to their goals but stay flexible regarding their strategy. If your current wholesaling method isn’t working, a new system may be exactly what you need to get your business moving in the right direction. For instance, if online advertisements aren’t getting you enough qualified leads, consider recruiting professional cold callers to support your efforts.
Grow Your Wholesaling Business 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 and 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!