As a real estate wholesaler, cold calling is one of the most effective ways to build a steady stream of leads and generate more revenue for your business. With cold calling, you have the opportunity to connect with buyers and sellers from all walks of life.
However, you must devise a dynamic script that touches on all the most critical talking points without sounding robotic to accomplish the desired results. A well-planned cold calling script leaves room for conversation while explaining the benefits of your wholesaling service. If you’re ready to whip up the perfect cold-calling script for your real estate wholesaling company, we’ve got the recipe right here!
1. Finding a Motivated Seller
Before you get the chance to speak with sellers, you’ll need to find them. Most wholesalers use several techniques to build a contact list chock full of sellers and expand their reach. When you’re just starting, it may be beneficial to spread the word about your wholesaling business with direct mail and paid advertising. If you don’t have a large social media following, now’s the time to grow your business with Facebook, Instagram, and TikTok.
While other forms of advertising may be effective, nothing is more powerful than cold calling. Cold calling offers a personal touch that other tactics can’t match. Cold calling allows you to gauge a potential seller’s level of interest by their tone of voice. Furthermore, cold callers can go the extra mile to forge a strong emotional connection with potential leads.
If you’re not up to cold calling, you can consistently recruit a team of professional cold callers to take care of this process. Experienced cold callers will work with you to create a script explaining the benefits of your wholesaling business while engaging with potential sellers you can’t find online. When cold callers connect with a qualified lead, they’ll turn them over to your sales team so they can close the deal.
2. Identifying a Motivated Seller
Motivated sellers are few and far between, so you’ll recognize them immediately when you contact one. Essentially, motivated sellers are interested in selling their property as soon as possible to cash out on the sale. If a seller includes buzz phrases like “cash only,” “property sold as is,” or “bring all offers,” they’re most likely a motivated seller.
During a conversation, motivated sellers often ask how long it will take to close the deal on their property and make it clear that they’re interested in getting the property out of their hands as soon as possible. In addition, they may allude to a stressful life event that inspired them to sell the property in the first place.
3. Understanding a Seller’s Motivation
Most sellers would prefer an all-cash offer and a quick closing time. Still, motivated sellers are unique because they’re typically willing to accept a price far below market value if it means they can get the property off their hands. Motivated sellers generally sell their property for the following reasons:
- They’re experiencing an emergency or changes in family circumstances that cause them to sell.
- They can’t afford to maintain the property.
- They haven’t paid their real estate taxes.
- They’re not profiting off their rental property.
- They may lose their property to foreclosure.
Once you have a clear idea of the seller’s true motivations, creating a deal they will accept is much easier. You should include qualifying questions within your script that allow you to understand the seller’s specific situation to match them with the right buyer.
4. Building a Connection
As with any form of sales, you must establish a close connection with each seller. Wholesalers need to earn the seller’s trust, and the easiest way to do this is by ensuring that sellers don’t feel as though you’re coercing them into a deal with your wholesaling company.
The process begins by educating sellers about your offering so they understand the value of your services. You’ll need to establish a personal connection with the seller during your conversation. Leave room for the seller to speak about their unique situation. Once the seller appears comfortable, you can leverage more robust sales techniques to close the deal.
5. Finding a Buyer
Of course, finding motivated sellers is only one part of the wholesaling process. Once you have a steady stream of motivated sellers, it’s time to build up your buyers list. For the best results, you’ll use multiple sources to contact buyers.
Most wholesalers connect with buyers using their websites and social media. These two sources should tell buyers the most important information about your real estate wholesaling business. However, you may also find significant success meeting with potential buyers through in-person networking. Use every opportunity to build rapport with real estate agents, construction workers, mortgage brokers, and other real estate industry professionals in your area. Regardless of their profession, people in the real estate industry are always looking for another investment opportunity, and you never know where you’ll find your next buyer.
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, 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!