Wholesalers: You’ll never struggle with cold calling after this.. | Real Estate Live Show

Introduction

This tutorial provides a comprehensive guide on effective cold calling strategies for real estate wholesalers, based on insights from Brent Daniels and Zach Keeps. Learn how to break through initial resistance, build rapport, and successfully engage with property owners.

Step 1: Prepare for Cold Calling

• Set Your Mindset: Approach calls with a positive attitude. Visualize success and remind yourself that you're offering a solution to potential sellers.
• Create a Comfortable Environment: Stand up while calling, and consider placing a mirror in front of you to monitor your facial expressions and energy.
• Warm-Up Calls: Before diving into cold calls, engage in warm-up conversations with friendly contacts, such as real estate agents or for-sale-by-owner listings. This helps ease you into the calling mindset.

Step 2: Initiate the Call Effectively

• Use a Friendly Tone: Begin with a calm, relaxed voice. For example, say, "Hi, I'm looking for [Name]." This approach lowers resistance and engages curiosity.
• Ask for Permission: Quickly ask if they have a moment to talk about their property. For example:

  "Hi [Name], this is [Your Name], a local home buyer. Before you hang up, I was hoping to ask about your home at [Address]. Is that fair enough?"
  

Step 3: Build Rapport and Qualify the Seller

• Engage in Active Listening: Once the seller is open to talking, use open-ended questions to gather information on:
  • Condition: "What updates have you made to the kitchen or bathroom in the last five years?"
  • Timeline: "When are you looking to sell?"
  • Motivation: "What’s prompting you to consider selling now?"
  • Price: "Based on your property condition, would you consider an offer in the range of [X to Y]?"

Step 4: Identify Good Leads and Close the Deal

• Recognize Six Possible Seller Responses: Be prepared for common responses:
  • Yes
  • No
  • Maybe
  • How much is your offer?
  • Who are you?
  • How did you get my number?
• Respond Appropriately: Tailor your follow-up questions based on their response, keeping the conversation natural and focused on their needs.

Step 5: Follow-Up and Build Relationships

• Regular Communication: Maintain contact with interested leads. Use a CRM to track interactions and follow-up schedules.
• Network: Build relationships with local real estate professionals and investors. They can provide valuable referrals and insights into the market.

Conclusion

Effective cold calling in real estate wholesaling is about preparation, building rapport, and maintaining persistence. Focus on creating genuine connections, actively listening, and qualifying leads. By implementing these strategies, you can significantly improve your chances of success in wholesaling. Start by making that first call today and remember to stay consistent in your efforts!