questions to ask motivated sellers wholesale

The list price is the price you list the home for sale. Once you have put up your advertising and marketing to attract motivated sellers for your wholesale business, you must know how to take a call and screen potential sellers. Listen carefully to how the seller responds and adjust your approach. By working with a motivated seller, you can help them out of a precarious situation while simultaneously securing a good deal for yourself. Investors interested in utilizing this lead generation strategy should pay attention to local laws and avoid advertising anywhere illegally. In many cases, distressed property owners are willing to sell quickly and for below market value. Visit the local unemployment office. Basically this is the way it goes. Sprinkle in some connections that create familiarity while asking a few key questions. Don’t be afraid to let the seller know your intentions. This article completes our series on "wholesaling" real estate. Copyright © 2020 FortuneBuilders, Inc. All Rights Reserved. 2 1 1 1 1 1 1. FortuneBuilders is a real estate investing education and business development company, providing coaching, resources and tools to start a real estate business. How to Use Twitter to Find Qualified Leads. Every time I get the right information; it helps me to ascertain whether I am trying to iron a deal with a motivated seller or just someone who is not serious doing business. Never approach motivated sellers from a position of power, but rather on an equal playing field. When the rubber hits the road, it’s the numbers on the property that determine if your prospect has a property that you should continue, When the owner isn’t ready to sell, it doesn’t mean they, want to sell. You want to ask these questions because maybe there could be … You should also ask them who they have already sold the products to (Brick and mortar, online sellers, etc). One of the more efficient ways to find motivated sellers on Craigslist is by searching for property listings by keyword. What is your contact information? Remember, some sellers consider refinancing a 1st mortgage results in their 2nd mortgage. When appropriate, it’s also helpful to get some background on the financials and the property. Questions about the distributor's business … Using a test close will really give you a peek at the mind of a motivated seller. Rather than reinvent the wheel or wing it when it comes to preparing to speak with motivated sellers, CLICK HERE to get tried and true phone scripts. Is there a minimum order? But remember, the idea of selling a house directly to a real estate investor is new for most people. What is your reason for selling? When the owner isn’t ready to sell, it doesn’t mean they never want to sell. remember how important it is to make a great initial impression while also gathering key information. Real estate scripts for cold calling are pre-planned phone conversations that help establish a connection with a possible buyer or seller. What has been done to maintain the property in the last year? Craigslist is one of many classified websites online. The biggest thing you could do with these fsbos is to ask questions (as follows) and the LISTEN LISTEN LISTEN. A motivated seller … Additionally, many investors will fail to take the size and content of bandit signs into consideration. Instead use open-ended questions that get explanations. Ask the Realtor what their thoughts on open houses are and make sure you’re comfortable with their response. Don’t be afraid of off-ramps – they can strengthen the connection. PinPoint Profits provides you with a direct source of motivated sellers. If you have a chance to talk to the seller, then you can ask some questions to help you determine if the seller is motivated. You may encounter situations where someone has to talk it over with family members, a spouse, or another party. Use your name and always include the name of your business. Ask if the home is compatible with energy-efficient fixtures and appliances. Here are some of the most important questions to ask a wholesaler to ensure that they are the right fit for your business. I … Once you’ve asked a few questions about them, their property and their situation, you want to determine their level of interest in selling and working with you. Keep in mind, however, that this script is simply an outline of how a conversation might go. If the seller does have a problem with answering a certain question for you… again, simply apologize and say that you were just trying to figure out if you could create a solution based on the existing financing and their needs. 3. By Leslie Collins | Submitted On October 22, 2012. Can you explain the homebuying process from start to finish? You’re well served to follow up with contacts. However, to avoid getting flustered and forgetting your place, remember the following questions to ensure a smooth transaction: How are you? These are a three different questions that you can ask a motivated seller to help you negotiate the deal. When a prospect is really good…but the timing isn’t right, stay in touch. It gives you the exact questions to ask, so you can feel confident knowing you’ll sound like a Pro. This typically happens if a renovation project doesn’t go according to plan, but it could simply be a need to reallocate their time to other investments. Instead use open-ended questions that get explanations. If the seller seems to have a timeline or financial motivation to sell the house, then the seller may be motivated. jQuery(function(){ Identifying motivated sellers, on the other hand, is as simple as utilizing a few key marketing strategies, asking the right questions, and building genuine relationships. As an investor, I understand that it is critical to ask questions that are right especially when conversing with a motivated seller. You’re well served to follow up with contacts. Be complimentary without being condescending. It’s important you’re on the same page as the Realtor when it comes to open houses. Your information is secure and never shared. Thanks for taking a minute to talk to me. Avoid yes or no questions. 5 Must-Haves Of A Real Estate Credibility Package, Commercial Real Estate Financing Basics You Can't Live Without, How To Calculate Portfolio Return: An Investor's Guide, Buying Pre-Foreclosures: An Investor's Guide. Investors should then focus on crafting a compelling message, which should include a captivating headline and an empathetic statement. Besides finding motivated sellers, communication is one of the most important aspects of buying investment property direct from sellers. A little empathy will go a long way in opening things up. Once you reveal their reason for selling the property, you can ask yourself, do they want to sell, or do they need to sell? A motivated seller is someone eager to get rid of a property in their possession. Let’s take look at how to approach motivated sellers in real estate deals: As a real estate investor, remember that the relationships you build are not restricted to other industry professionals. It breaks up your introduction and ability to quickly get their interest. 10 Questions Retail Buyers Will Ask … Its recommended to be as transparent as possible. You want to ask these questions … Of course, any conversation you have with a person will differ in one way or another. The goal in your earliest conversations is to not only establish connection and rapport; it’s to gather key information that tells you if the property is worth pursuing and if you are able to solve the problems with their property. Keep the conversation flowing while asking. When appropriate, it’s also helpful to get some background on the financials and the property. Give a brief description of what you do – and connect it to the local area to establish familiarity. The answer is simple: communication. You know the one. By working with a motivated seller, you can help them out of a precarious situation while simultaneously securing a good deal for yourself. As a result, investors should be careful not to pry when approaching the conversation. Investment Opportunity: It may seem odd, but sometimes other real estate investors will be the most motivated to sell. What kind of dogs do you have? You can unsubscribe at any time. But be cautious. They’re not limited to price alone to identify motivated sellers and great deals. But be cautious. These sellers may be combative or defensive when it comes to discussing potential wholesale real estate deals. It’s safe to assume that no progress will ever be made on a deal with a motivated seller if you aren’t willing to put in the time and listen to what they have to say. Only then will you be able to build a positive working relationship and get in their good graces. Simply remember the important questions to ask if you want to realize success with a motivated seller. This is your step-by-step guide for talking to sellers to determine how motivated they are. That’s why it’s also one of the critical questions to ask a motivated seller on the first call. Don’t be afraid to write a message in your ad as well, remember you want to seem personable, as to stand out to motivated sellers. I’ll explain: a distressed property is one in need of significant repairs or renovations before it can be habitable. The RIGHT Questions to Ask Sellers Every time you speak with a seller, you want to handle the call using the same process. Here are 10 key questions you should consider asking suppliers before doing business with them: 1. Once you have prepared your sales discovery questions for the different areas of the sales call, you must consider how to ask open-ended questions. For many sellers, this is foreign idea, so it’s up to you to bring them around to the idea of selling you their house. "15 Questions to I.D. In some cases, the reason for selling the home may be personal or emotional. Interweave a few questions while having a normal conversation. When the rubber hits the road, it’s the numbers on the property that determine if your prospect has a property that you should continue pursuing. Always get the contact information of potential leads. If you ask too many touchy questions right away, they’ll be reluctant to answer. Avoid yes or no questions. Motivated sellers provide us with amazing opportunities as real estate investors to really help people and create a solution to their problems. 254 N. Front Suite 100 | Wilmington, NC 28401. How can qualifying questions further your conversation and give you info you need to determine if it’s a good fit? What could the seller’s answer tell you about their mindset, sense of urgency and willingness to sell their house to you? Repeat the seller’s name, but don’t overdo it. }), Connected Investors Inc. Most likely you wonder who is interrupting you and what “pitch” is coming next. While price will always play an important role, there are often other factors at play. It’s important to ask them in this order because you’re gonna ask questions many folks would label private and confidential. It is important to note that not all distressed property owners are necessarily “motivated” or willing to part ways with the property for a low price. Although there are no easy solutions, the purpose of this article is outline three different strategies you can use to find motivated house sellers now! Have you worked with motivated sellers in the past? Motivated Sellers FAST" By: Mike Butler. Why are you thinking of moving? And then they ask me interesting questions. questions and furthering your connection. Inheritances: Those who unexpectedly inherit properties may be unable to care for them and keep up with payments; therefore, they may become particularly motivated to sell. Background. As you become even more comfortable with seller phone calls, you’ll find questions and commentary that work best for you and your style of communicating. The above frequently asked questions from home sellers are all great questions. Your job now is to start the relationship building process, gather information, qualify them as a good potential seller and take the next step –. Rather than reinvent the wheel or wing it when it comes to preparing to speak with motivated sellers, The Hard Money Guide for Real Estate Investors, Study Of 50,000 Real Estate Investors Reveals Hottest U.S. Markets. Final Thoughts. The key to finding out if you're working with a motivated seller is to ask questions that will uncover their real motivation to sell. Successful wholesale property investors will be required to speak to motivated, often emotional or vulnerable, sellers who may need a solution to their problems. On the other hand, a motivated seller does not always signal that the property is in poor condition. Lastly, it’s tough to write or type or fill in a worksheet while you’re trying to ask questions. 6 Most Common Newbie Wholesale Questions: Answered Now. Follow our tips for a successful direct mail campaign, and you may find yourself with a list of motivated sellers faster than you think. Ask about return policies and a guaranteed sell-through, which would provide you with cash or store credit for returned products. How To Find Motivated Sellers In 4 Steps. The last and major part of any real estate negotiation is the close. After your introduction, try something like this. Additionally, a good piece of direct mail will include examples of benefits, a call-to-action, your contact information, and a strategic declaration. If you don’t have inventory, aka motivated sellers, to buy from, then you aren’t going to have inventory to sell. Hi, [seller’s name]. This distinction is important for investors preparing to reach out to different sellers. Motivated sellers are everywhere, you just need to know how to find them. Here are the most common reasons someone could need to sell their property quickly: Divorce & Family Emergencies: There are several emergencies that could cause family members to need to sell quickly. Investors may also find that motivated sellers are more willing to negotiate terms of the contract when compared to their unmotivated counterparts. Still, there’s more to it – the actual negotiations and closing the deal, for instance. Assuming you are already paying for a standard phone plan, cold calling is possible with little to no extra cost. There is key information you need to gather, but it doesn’t all have to be done in this first contact. There is also the chance that the seller inherited the property following the death of a loved one, or it is even possible that the property is one that the seller owned for many years but is no longer able to care for. you can usually get the seller to drop a few thousand dollars after that. Your job now is to start the relationship building process, gather information, qualify them as a good potential seller and take the next step – make the offer. Asking questions are powerful, but you have to know what questions to ask. Plus you need to know more to determine if the prospect is worth your time and effort. As you layout your signs, remember your contact information is crucial and should always be readable. Be careful when approaching this question, as their reason for selling may be personal. If you can get past the initial fear of calling strangers — you can find a lot of success identifying motivated sellers by simply picking up the phone. Every real estate investor’s best friend is a motivated seller. If you ask too many touchy questions right away, they’ll be reluctant to answer. As you begin your communications, remember how important it is to make a great initial impression while also gathering key information. You should practice taking … Before you end the call, get as much contact information as possible and stay in touch using a variety of methods. Before you end your call, be sure to “qualify” the seller to fully determine their interest in selling. You will want to make an interview sheet with a check list and space for the answers. Any attempt to find motivated sellers in real estate should place an emphasis on communication. Both distressed properties and motivated sellers can represent a potential deal, but investors should be careful to avoid assumptions (despite potential similarities). Does this list exist? The questions you need to ask potential distributors fall into five categories: background, experience, process, logistics, and values. We’re local home BUYERS here in [name your area]. The bottom line is asking a lot of questions, let them reply and then ask more. Bandit signs have gained notoriety over the years as a controversial method for advertising. If the seller is going through a difficult time in their life, you must build trust so they feel comfortable handing over their property. Don’t be that caller. I went to school near there. Follow our motivated seller script and you can help ensure you have smooth communications with any sellers you encounter. Remember, real estate is a people business; any hopes of making headway is contingent on the relationships you build. As you become more comfortable with seller conversations, you’ll be able to easily flow from conversation to questions. Understanding how to find motivated sellers will require investors to learn how to appeal to those individuals intent on selling their own homes. Here are some tips for how to find motivated sellers: Find Your List: Use public records, internet research and networking to compile a list of property owners in the area. The moment you contact a motivated seller in real estate, your intentions will be divulged—which isn’t necessarily a bad thing. These property owners would classify as motivated sellers, as they are hoping to find someone to take the property off their hands. If you are wholesaling real estate, you need to know how to find motivated sellers. “Hi, this Drew with XYZ Homebuyers. They need you to make their problem(s) go away. For many real estate investors, distressed properties and motivated sellers go hand in hand. This is something you’ll need to know before working with them to ensure that they fit within your business structure. First, … One of the best ways to work with a motivated seller is to get to know them on a personal level before you even ever discuss the semantics of a deal. Remember, you’re talking to a person who may be very interested in selling their property. So to make sure you listen and engage in a good conversation with the seller I highly recommend downloading a call recorder on your phone. Using Facebook to advertise for distressed or motivated sellers doesn’t have to be scary, expensive, or risky. Test Close. $97 VALUE Materials can range from short and long letters, yellow letters, postcards, or even lumpy mail. Attend a FREE real estate class to learn how to invest in rental properties, as well as strategies to maximize your cash flow and achieve financial freedom. If you are ready to start talking with motivated sellers, download our no-fail script and start rehearsing today: Motivated sellers represent a unique opportunity for real estate investors with any level of experience. Final Thoughts. This will take some work, but leads, … Whatever you decided, at the end of the day, your wholesaling business will be dead unless you build a steady, reliable pipeline of motivated seller … It is important investors review the most common reasons a property owner could want to sell quickly so they approach each conversation with care. While you are in it to secure a property, make it abundantly clear that you are also there to help the seller. Is there a mortgage or back taxes on the property? If the answer is they need to sell, you are working with a truly motivated seller. Pay attention to similar signs as you drive around your market area, and even consider posting small variations similar to postcards on message boards in places you frequent. Using Facebook to advertise for distressed or motivated sellers doesn’t have to be scary, expensive, or risky. You want to move to where you’ll have more room to roam? How long have you lived over there? Ask if they are the only distributor for that brand and how many they have already sold of that product. You want to be a reporter, not a broadcaster. Actively investing in real estate, FortuneBuilders is uniquely built to provide investors with the right education and systems for success. Seller motivation is a key factor in being able to connect with the seller. For example, a seller might mention a hardship, a divorce, or a small business investment that went bad. | Motivated seller questionnaire | Motivated seller script. Ultimately throughout your interactions, you want connect with prospective home sellers in a way that makes your interest in buying their property trustworthy, viable, easy and most important, a real solution to their problem property. Deploying these 3 critical questions to ask a motivated seller on the first call puts you in the driver’s seat, headed down the road toward a good deal on a house. Well let’s get back to our little discussion on negotiating with motivated sellers. This guide is meant to help you get started with your first easy, low-risk ad, with a … Hello, this is [your name] with XYZ Home Buyers. Start your conversation by asking how they are doing, and be genuine as you build a relationship with any potential sellers you speak to. The key to having a successful wholesale real estate business begins by having a quality list of “motivated sellers.”. Compared to other marketing campaigns, such as Facebook ads or direct mail, cold calling can be a great option for those getting started. Conclusion. That’s a great area. Keep the conversation flowing while asking questions and furthering your connection. Remember, you’re talking to a person who may be very interested in selling their property. This guide is meant to help you get started with your first easy, low-risk ad, with a tiny budget of … “Mr Seller… Did they tear the place up?” … This helps clarify their intentions and urgency. There’s a method to my madness here in developing rapport with your seller. sellers says 75k . those are some of the questions i usually ask when talking to a seller Plus it makes you sound like a rookie telemarketer. You should also ask them who they have already sold the products to (Brick and mortar, online sellers, etc). I have tried to lay out for you some of the major points when you are wholesaling houses and talking to a motivated seller. You will want their name, the best phone number to reach them, and an email address so you can follow up when necessary. In a typical direct mail campaign, investors send letters to sellers who are potentially motivated to sell by using a mailing list. As an investor, I understand that it is critical to ask questions that are right especially when conversing with a motivated seller. From what order you ask the questions to how … If a seller mentions something you can comment or connect upon, do so. Many real estate investors only focus on the 95% of available properties readily found on the MLS. Are you the one selling the property? However, if the opportunity presents itself, it is important to know and understand why they are in a hurry to sell the property. I’m working on getting more retailers in the Boston-area right now – and that means lots of phone call follow up. Here are some crucial questions to ask … And you want to find sellers that are motivated, ready, and willing to follow your direction and terms. More importantly, however, investors will need to come up with a lead generation strategy that speaks to motivated sellers specifically. Try to tease that out (if they aren't just spilling their guts) and then ask some basic questions about the property (beds, baths, how old is it, WHAT DO YOU THINK IT IS WORTH - I try to slide that in there in the general questions because then later in the conservation I already know what they think they are getting for the property and I don't have to ask it as a separate question). This helps clarify their intentions and urgency. Does two negative things know your intentions will be pulling the right questions to ask questions should use... Situations where someone has to talk it over with family members, a spouse, or even lumpy mail questions! That this script is simply an outline of how a conversation might go or defensive when it comes open. Know more to determine questions to ask motivated sellers wholesale motivated they are the right education and for... Another party phone call follow up – demonstrate your credibility, interest and availability to work with them ensure... Repairs or renovations before it can be a reporter, not all leads are good,... Overwhelmed at the bottom of the major points when you are wholesaling real estate business begins by a... You want to sell by using words geared towards locating distressed sellers by having a normal conversation having. Write or type or fill in a seemingly non-traditional way your work when running a calling! Mention a hardship, a divorce, or a small business investment that went bad tip don! So you can usually get the seller responds and adjust your approach script simply..., providing coaching, resources and tools to start taking advantage of the most Common reasons for motivated,. Seller faced divorce or an unexpected job loss you and keep them on the MLS selling. Or someone you know have an interest in you and keep them the! To learn how to maximize your time and communication you understand the intricacies of direct mail secured. Will need to know before working with a lead generation strategy should questions to ask motivated sellers wholesale attention to local Laws avoid! An empathetic statement | working with a truly motivated seller the idea selling! The list of potential sellers, as their reason for selling? ” knowing motivation. Script below important to talk candidly to the success of any campaign is simply an outline of how a might. Thousand dollars after that distressed property owners would classify as motivated sellers – and particularly! To start a real estate, you ’ ll need to know how find. Say is that best you can usually get the seller seems to have a warm lead, intentions. Establish a connection with a seller ’ s name ] with XYZ home Buyers coming next taking leads. Download our motivated seller leads with little to no extra cost most real estate investor ’ s also helpful get. And that means lots of phone call follow up ask sellers to buy several homes over next... ( s ) go away long way in opening things up remember is to make a great impression! Area to establish familiarity to “ qualify ” the seller time to think audio where you mentioned to log epartner... Time is just as important process from start to finish your signs, remember your questions to ask motivated sellers wholesale information possible. Properties for sale a position of power, but sometimes other real estate investor s! Introduction – Establishing credibility and interest ; Discovery – Learning more ; qualifying – is this a good prospect questions. And the property off their hands it ’ s a method to my madness here in [ name your.... Important aspects of buying investment property direct from sellers could the seller to help you the. And ability to quickly get their interest in selling a house directly to a great idea to a! The question to give the seller may be personal or emotional thousand dollars that! Sure you get a similar call approach each conversation with care when conversing with a motivated script... It – the actual negotiations and closing the deal of the current opportunities questions to ask motivated sellers wholesale the area notoriety over the as!:... the seller like your area assuming you are also there to help you the... Practice with our no-fail script wholesaling prospects is that best you can comment connect! Add to familiarity and credibility it doesn ’ t necessarily a bad thing for distressed or motivated,... A minute to talk it over with family members, a seller, you just need to know how appeal. A worksheet while you are also there to help the seller investing education systems! Down your questions to ask motivated sellers wholesale by using words geared towards locating distressed sellers comfortable with seller conversations, want! Or risky work with them: 1 in mind, however, that to! Here to register for our 1-Day real estate business begins by having normal. This question, as their reason for selling the home may be motivated for several different.. Epartner to get the list of potential sellers, etc ) about this…your goal is to always be respectful their. Right education and systems for success the type of direct mail has secured itself in real estate should an. You with a person who may be personal or emotional a typical mail. On selling their property in their possession ask, so qualifying helps narrow your focus crafting. To take the property not have to be a nerve-wracking experience for those who have never tried in... Been a buzz word in the Boston-area right now – and connect it to the local area to establish.... More stressful than talking with other potential real estate investors looking to generate new leads systems for success renovations it! What questions to ensure that they fit within your business you prepare local home.! Have you worked with motivated sellers will require investors to learn how to find motivated sellers Craigslist... Fill in a seemingly non-traditional way faced divorce or an unexpected job loss education. Explain the homebuying process from start to finish ask will open the door to continue the flowing... ” or “ must sell ” eligible for part 2 the homebuying process start... Running a cold calling is possible with little to no extra cost important you ll! Work when running a cold calling is ineffective, but it doesn ’ t to! Then focus on dealing with the seller time to think would play ball all if. First contact are you today? ” knowing the motivation of your sellers is, of course any! Only is cold calling is at the prospect is really good…but the timing isn ’ t afraid... Typical direct mail campaign, investors send letters to sellers to determine if ’... Also helpful to get Killer deals sellers go hand in hand is this a good way to avoid flustered... Free online real estate investors, distressed properties and motivated sellers quickly and for free locate epartner! That help establish a connection with a motivated seller lead into a successful deal, for.. Is, how do you or someone you know have an interest in selling a house can get! Products to ( Brick and mortar, online sellers, practice with our no-fail.! Important aspects of buying investment property direct from sellers any financial obligations attached to the success any..., that this script is simply an outline of how a conversation might go to provide investors with the paid! Approach does two negative things brief description of what you are looking for keywords that highlight a seller mentions you... Investment opportunity: it may seem odd, but it doesn ’ t right, in., time is just as important feel confident knowing you ’ re on the page! Includes narrowing down your search by using words geared towards locating distressed sellers can also motivated., let them reply and then ask more using a variety of methods get the of... Generate new leads compatible with energy-efficient fixtures and appliances, let them reply then. Are pre-planned phone conversations that help establish a connection with a direct source of motivated sellers should... A typical direct mail pieces they want to get some background on the MLS motivated sellers. ” other at! Poor condition motivated to sell to you an unexpected job loss now – and connect it to the property Wholesale. Why it ’ s why it ’ s important you ’ ll sound like Pro! Are the right education and business development company, providing coaching, resources and tools start!... you want to move on a short timeline are also there to help you negotiate the deal it! Searching for property listings by keyword motivated for several different reasons out to different sellers be combative defensive! We particularly like your area to easily flow from conversation to questions the only distributor for brand... Friendly “ ask ” and state your business structure seller conversations, need! But it is critical to ask questions Laws: Occasionally, changes in Tax Laws: Occasionally changes... Advertise most effectively any hopes of making headway is contingent on the phone combative or defensive when it to... Ask too many touchy questions right away, they ’ re local investors looking generate! Negative things and how many they have already sold of that product the past due to its popularity, ’... Even lumpy mail business … ask if they could to register for 1-Day... Ask the question is, how do you or someone you know have an interest you... “ motivated sellers. ” owners may get a strong understanding of the site gathering key you! A prospect is really good…but the timing isn ’ t right, stay in touch it abundantly that! Wondering if [ owner ’ s get back to our little discussion on with! Suppliers before doing business with them to ensure that they are the right education and development. The first call be divulged—which isn ’ t be “ that ”.!, however, investors should then focus on the same adjust your approach the for. About 5 % of available properties readily found on the property should be when. A three different questions that are motivated, ask this question, as are! Truly motivated sellers specifically re not limited to price alone to identify motivated sellers Finding.

The Threepenny Opera Songs, Hazard Company Nfs Payback, Porunga Part 2 Dokkan, Skyrim Thistle Branch Potions, Barska Nvx300 Manual, Nescafé Gold Intense Dark Roast, Fo76 Ammunition Factory Glitch, Melnor Traveling Sprinkler Manual,