Real estate wholesaling may boast a low barrier to entry, but that doesn’t mean it’s easy! When you wholesale, you will be fully responsible for finding homes priced below market value and connecting these properties with buyers who can pay at market value.
Wholesaling differs significantly from other forms of real estate investment because wholesalers don’t actually own any property. They receive their income in the form of an “assignment fee,” which is money that the buyer pays the wholesaler to help them find a new contract.
At first glance, wholesaling sounds too good to be true. However, the services wholesalers provide are highly beneficial to real estate investors who don’t want to waste time finding properties on their own or negotiating with sellers. Wholesalers act as intermediaries, taking care of details for buyers and finding a reasonable price for sellers.
Since wholesaling doesn’t require investors to purchase properties or obtain a real estate license, it seems everyone wants to cash in. As the real estate wholesaling industry grows more competitive, you’ll need to utilize every resource available to find more wholesaling properties. If you’re ready to expand your real estate wholesaling business, these simple tips will help you find more investment properties.
1. Research Your Area
Before implementing different methods to find suitable wholesale investment properties, you must understand the wholesaling market in your specific area. As remote and hybrid work models become the norm, people are more comfortable living far away from metropolitan areas. Due to this, wholesalers are finding greater success in rural areas than in previous years.
However, your ability to find suitable wholesale investment properties depends on whether there are the right opportunities in your area. In other words, you may succeed in wholesaling in a city or metropolitan area if plenty of motivated sellers and investors are willing to purchase these properties. Some states are more wholesale-friendly than others, so get to know your location. If you’re not in the best state for wholesaling, consider virtual wholesaling as another option.
2. Browse Multiple Listing Service
The multiple listing service (MLS) is one of the most beneficial places for real estate wholesalers to find lucrative investment opportunities. However, only people with a real estate license can access MLS, so you may need assistance from a real estate agent if you do not have a permit. When browsing MLS, you’ll find the most success with properties that have been listed for a few months. This is because motivated sellers are more likely to accept a lower offer after the 90-day mark.
3. Work with Professional Cold Callers
The best wholesalers leave no opportunity to change, and cold calling is yet another resource you can use to stack the odds in your favor. If you work with a team of professional cold callers to get the job done, you can direct your energy toward other aspects of your business. Professional cold callers will work with you to learn more about your wholesaling business and your ideal customer. From there, cold callers will contact potential prospects and send qualified leads directly to your sales team.
Cold calling allows you to connect with motivated sellers that may not post their property online or respond to direct mail. In addition, professional cold callers can form a personal connection with each seller, which builds a trustworthy brand image. Allow cold callers to streamline your sales process and transform uninterested prospects into warm leads so you can move on to the next step of the wholesaling process.
4. Direct Mail
Real estate wholesalers often overlook direct mail, but it can be a supremely effective tool to find more wholesale properties. Wholesalers using direct mail send traditional paper advertisements directly to each prospect’s mailbox. While there are many different forms of direct mail to choose from, most wholesalers decide to send letters, flyers, catalogs, and brochures with information about their wholesaling services. Since direct mail is tangible, wholesalers find it easier to build trust with prospects. Furthermore, direct mail allows wholesalers to contact property owners with homes in probate or foreclosure.
5. Implement an Online Marketing Strategy
Whether using social media, email marketing campaigns, a website, or all of the above, a strategic online marketing strategy will allow motivated sellers to come to you. This all begins with a compelling website, which means that the website is mobile-friendly, easy to navigate, and aesthetically pleasing. You may need to work with experts to create an effective SEO strategy to drive your website’s traffic.
Digital content will lead prospects to your website, where they may enter their contact information. Most contact forms ask for the prospect’s name, phone number, email, and additional information about their specific needs. After obtaining this information, you can reach out to leads using email, SMS, and cold calling. Each point of contact with your wholesaling company builds trust and increases the likelihood that you will find yet another investment property.
Simplifying the Process With CMS
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!