Motivated sellers are everywhere, you just need to know how to find them. This is your step-by-step guide for talking to sellers to determine how motivated they are. If you want to get motivated, ask this question right now. 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! And you want to find sellers that are motivated, ready, and willing to follow your direction and terms. If you follow those methods and any other proven ways of driving in real estate seller leads, your phone will start ringing frequently with potential sellers. 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. Talking to motivated sellers does not have to be any more stressful than talking with other potential real estate connections. Again, my name is [your name]. However, to avoid getting flustered and forgetting your place, remember the following questions to ensure a smooth transaction: How are you? A little empathy will go a long way in opening things up. By Leslie Collins | Submitted On October 22, 2012. jQuery("#trending").load("/forum/trending?no_html=true"); you can usually get the seller to drop a few thousand dollars after that. | Motivated seller questionnaire | Motivated seller script. Don’t be that caller. What kind of dogs do you have? Is there a mortgage or back taxes on the property? Without a motivated seller, it’s very difficult to create a great deal in real estate. The above frequently asked questions from home sellers are all great questions. It’s important to ask them in this order because you’re gonna ask questions many folks would label private and confidential. Knowing how much the seller paid is helpful for a couple of reasons. 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. This question will help you understand the current condition of the property. Whatever the reason may be, when a seller is motivated, they need an investor just as much—if not more so—than an investor needs them. 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 is something you’ll need to know before working with them to ensure that they fit within your business structure. 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. Sounds harsh, but many of those that are there could be in … The site attracts millions of users each month, making it a powerful tool for investors seeking distressed sellers. Often suppliers offer incentives. The key to having a successful wholesale real estate business begins by having a quality list of “motivated sellers.”. What could the seller’s answer tell you about their mindset, sense of urgency and willingness to sell their house to you? Follow our tips for a successful direct mail campaign, and you may find yourself with a list of motivated sellers faster than you think. The bottom line is asking a lot of questions, let them reply and then ask more. Remember, you’re talking to a person who may be very interested in selling their property. You may encounter situations where someone has to talk it over with family members, a spouse, or another party. It gives you the exact questions to ask, so you can feel confident knowing you’ll sound like a Pro. It is a great idea to ask whether or not there are any financial obligations attached to the property. 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. Most likely you wonder who is interrupting you and what “pitch” is coming next. Always get the contact information of potential leads. Repeat the seller’s name, but don’t overdo it. Sign placement is crucial to the success of any campaign. Questions to ask a home seller include: ... the seller may be motivated and more willing to negotiate. 6 Most Common Newbie Wholesale Questions: Answered Now. NO! 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. The last and major part of any real estate negotiation is the close. Start your conversation by asking how they are doing, and be genuine as you build a relationship with any potential sellers you speak to. When considering bandit signs, ask yourself one question: Where can I advertise most effectively? The moment you contact a motivated seller in real estate, your intentions will be divulged—which isn’t necessarily a bad thing. If you want to turn a motivated seller lead into a successful deal, it is important to talk candidly to the seller. 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. Identifying motivated sellers, on the other hand, is as simple as utilizing a few key marketing strategies, asking the right questions… Seller motivation is a key factor in being able to connect with the seller. They are told to do this because they know the numbers show that if you ask for the business a good percentage will give it to you. Direct mail has secured itself in real estate as a consistent source for lead generation. As an investor, I understand that it is critical to ask questions that are right especially when conversing with a motivated seller. Still, there’s more to it – the actual negotiations and closing the deal, for instance. I was hoping to speak with (him/her) about buying property in your area. I’ll explain: a distressed property is one in need of significant repairs or renovations before it can be habitable. For many real estate investors, distressed properties and motivated sellers go hand in hand. Remember, they don’t have to sell to you. Add value in your prospects eyes with every follow up – demonstrate your credibility, interest and availability to work with them. Through a combination of writing and searching existing Craigslist ads, you can find motivated sellers quickly and for free. This is a discovery phase for both you and your seller. More importantly, however, investors will need to come up with a lead generation strategy that speaks to motivated sellers specifically. As you may recall, we focused on two key areas: questions pertaining to business risk and also those covering your personal motivations as a seller.. As with any budding relationship, the questions you need to ask … That’s why it’s also one of the critical questions to ask a motivated seller on the first call. A motivated seller … But be cautious. When appropriate, it’s also helpful to get some background on the financials and the property. Keep in mind, however, that this script is simply an outline of how a conversation might go. }), Connected Investors Inc. Real estate scripts for cold calling are pre-planned phone conversations that help establish a connection with a possible buyer or seller. Is there a minimum order? Investors can also identify motivated sellers on Craigslist by posting ads of their own. When it comes to identifying a motivated seller, you want to know who is making the decisions and who to build a relationship with. Are you the one selling the property? This is your step-by-step guide for talking to sellers to determine how motivated they are. 10 Questions Retail Buyers Will Ask … It is important to get a strong understanding of the status of the property, without sounding demeaning. 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. If you don’t fully qualify your leads early on, you’ll waste a lot of time with people who will never sell you their house. Establishing a genuine relationship with those you intend to buy from and sell to gives you a distinct advantage, and motivated sellers are no exception. Changes In Tax Laws: Occasionally, changes in local regulations or tax policies could motivate investors to sell some assets. Sadly, not all leads are good leads, so qualifying helps narrow your focus on the best leads. Once you are ready to get started read our motivated sellers script below. Do you have liability insurance? So, I’d like to give you a few more ways to get wholesaling prospects. Additionally, a good piece of direct mail will include examples of benefits, a call-to-action, your contact information, and a strategic declaration. Oh, sure I know that area well. 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. Here are a few ideas that cost a little money, but bring results much faster. While price will always play an important role, there are often other factors at play. You know the one. TIP: Don’t be “that” caller. First, … Ask if they are the only distributor for that brand and how many they have already sold of that product. By working with a motivated seller, you can help them out of a precarious situation while simultaneously securing a good deal for yourself. Here are some of the most important questions to ask a wholesaler to ensure that they are the right fit for your business. Before you download our motivated seller script, learn everything you need to know about working with this type of homeowner. Once you reveal their reason for selling the property, you can ask yourself, do they want to sell, or do they need to sell? How are list price and sale price different? I went to school near there. This initial campaign can result in a list of potential sellers, which can then be used to identify motivated sellers. It is … Feel the motivation and take massive action so that at the end, you leave a positive legacy and you make a good impact on the world. Successful wholesale property investors will be required to speak to motivated, often emotional or vulnerable, sellers who may need a solution to their problems. Additionally, many investors will fail to take the size and content of bandit signs into consideration. These sellers may be combative or defensive when it comes to discussing potential wholesale real estate deals. Motivated seller simply means the owner is eager to sell their property; for whatever reason, they are ready to walk away from the property at hand. You will want to make an interview sheet with a check list and space for the answers. Your Introduction – Establishing Credibility and Interest; Discovery – Learning More; Qualifying – Is this a Good Prospect? For the most part, time is just as important. ... You want to ask about discounts you could be eligible for. In the previous section we discussed 3 ways to find Motivated Seller Leads. These investors may be motivated to sell quickly, allowing others to secure great deals. In catering to the needs of motivated sellers, you must place an emphasis on their current situation. I’m wondering if [owner’s name] is available? I can’t seem to locate the epartner section of the site. Using Facebook to advertise for distressed or motivated sellers doesn’t have to be scary, expensive, or risky. Of course, any conversation you have with a person will differ in one way or another. For example, a seller might mention a hardship, a divorce, or a small business investment that went bad. Remember, some sellers consider refinancing a 1st mortgage results in their 2nd mortgage. Assuming you are already paying for a standard phone plan, cold calling is possible with little to no extra cost. Interweave a few questions while having a normal conversation. Plus you need to know more to determine if the prospect is worth your time and effort. Every time I get the right information; it helps me to ascertain whether I am trying to iron a deal with a motivated seller … This will take some work, but leads, … The purpose of asking these questions allows you the opportunity to pre-screen and quickly identify not only a motivated seller… Don’t be afraid to let the seller know your intentions. With a better idea of where they are coming from and what they are looking to get out of a deal, you will be able to make a more attractive offer. Plus it makes you sound like a rookie telemarketer. Investors should then focus on crafting a compelling message, which should include a captivating headline and an empathetic statement. Targeting the Motivated Seller… and The Solution The Big Differences Between Pre-Foreclosure and Vacant House Owners…And Why It Matters. As you layout your signs, remember your contact information is crucial and should always be readable. The bulk of your work when running a cold calling campaign will be pulling the right numbers. Final Thoughts. ]. Be complimentary without being condescending. Only then will you be able to build a positive working relationship and get in their good graces. 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. Find, Fund & Flip Property With Your Phone. You should use cold calling if you are looking for new ways to reach motivated sellers. The best thing investors can remember is to always be respectful of their time and communication. In a typical direct mail campaign, investors send letters to sellers who are potentially motivated to sell by using a mailing list. 2 1 1 1 1 1 1. We’re local investors looking to buy several homes over the next couple of months – and we particularly like your area. Test Close. There is key information you need to gather, but it doesn’t all have to be done in this first contact. I have tried to lay out for you some of the major points when you are wholesaling houses and talking to a motivated seller. When appropriate, it’s also helpful to get some background on the financials and the property. What is a motivated seller? However, it may be hard to convince motivated sellers in real estate that you are doing them a favor by taking their home, which begs the question: How can you create a relationship that places an emphasis on the seller’s needs? A seller can be motivated for several different reasons. This is a great way to get at whether or not they are the deciding vote on selling the house. How long have you lived over there? If the seller seems to have a timeline or financial motivation to sell the house, then the seller may be motivated. I have two dogs that would play ball all day if they could. You can unsubscribe at any time. Does this list exist? It’s important you’re on the same page as the Realtor when it comes to open houses. Background. 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. Motivated sellers of off-market properties make up about 5% of all available properties for sale. It breaks up your introduction and ability to quickly get their interest. Fortunately, there are a handful of marketing techniques designed to prospect, generate interest and convert motivated seller leads. It is important investors review the most common reasons a property owner could want to sell quickly so they approach each conversation with care. But be cautious. Actively investing in real estate, FortuneBuilders is uniquely built to provide investors with the right education and systems for success. This guide is meant to help you get started with your first easy, low-risk ad, with a tiny budget of … Think about this…your goal is to get someone to sell you their property in a seemingly non-traditional way. This can be frustrating at times. That’s a great area. Sharp Investors Create Deals. Perhaps the seller faced divorce or an unexpected job loss. Once the conversation is initiated, keep it friendly and conversational and continue to add to familiarity and credibility. Copyright © 2020 FortuneBuilders, Inc. All Rights Reserved. So the question is, how do you find motivated sellers in the first place? By working with a motivated seller, you can help them out of a precarious situation while simultaneously securing a good deal for yourself. Did they tear the place up?” … 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. We can't help anyone unless we are "Getting" where they are, what is their pain (if any---most fsbos don't even want to pay 3-6% to a realtor, let alone give up 15-50% to an investor). Each seller … In this course you'll discover: How to create a presence online and offline to attract motivated sellers and cash buyers How to stand out from the competition and become the go-to wholesaler in your area My HIGHEST CONVERTING methods of finding motivated sellers … While you are in it to secure a property, make it abundantly clear that you are also there to help the seller. Home » Organic Tea Blog » Important Questions to Ask your Organic Tea Wholesaler When you sell organic loose leaf tea, it’s important to have a good relationship with your organic tea vendor. You should practice taking in leads at least 2-3 times a day until this becomes natural for you. Avoid yes or no questions. $97 VALUE 254 N. Front Suite 100 | Wilmington, NC 28401. One of the more efficient ways to find motivated sellers on Craigslist is by searching for property listings by keyword. Investment Opportunity: It may seem odd, but sometimes other real estate investors will be the most motivated to sell. I listened to an audio where you mentioned to log into epartner to get the list of questions to ask sellers. | Distressed properties | Common reasons for motivated sellers | Finding motivated sellers | Working with motivated sellers | Should you use cold calling? Hi, [seller’s name]. Cold calling scripts ask questions about … Interested in Learning How to Invest in Real Estate? 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. 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. Hopefully it has been helpful to you! remember how important it is to make a great initial impression while also gathering key information. Here are 10 key questions you should consider asking suppliers before doing business with them: 1. Read More » 7 Must-Ask Questions to Qualify Leads in Real Estate. those are some of the questions i usually ask when talking to a seller There are numerous reasons a property owner could classify as a motivated seller, ranging from a new job opportunity to an unfortunate family emergency. Ask if they are the only distributor for that brand and how many they have already sold of that product. Talking to Sellers Rules of Thumb Ask Questions and Listen: Your primary role on any call with a seller is to ask questions and listen carefully. Understanding how to find motivated sellers will require investors to learn how to appeal to those individuals intent on selling their own homes. 4 Critical Questions to Ask Motivated Sellers to Get Killer Deals. After all, they represent an attractive opportunity to secure deals below market value or at a faster pace. The reason for this is not because cold calling is ineffective, but instead because most people are uncomfortable doing it. 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. Be careful when approaching this question, as their reason for selling may be personal. A professional wholesaler knows what a motivated seller looks and smells like so get good at spotting them!! They need you to make their problem(s) go away. If you are careful to avoid these common mistakes, you may find that bandit signs yield massive attention from motivated sellers. So relax…just pick up the phone and breathe. However, due to its popularity, it is one of the best websites for real estate investors looking to generate new leads. 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. You want to ask these questions … As a result, investors should be careful not to pry when approaching the conversation. Both distressed properties and motivated sellers can represent a potential deal, but investors should be careful to avoid assumptions (despite potential similarities). 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. While investors may not know all the details when working with these sellers, it is important to approach these situations carefully and with respect. This distinction is important for investors preparing to reach out to different sellers. Visit the local unemployment office. There are still some questions you should be asking: 16. How are you today?” This approach does two negative things. You want to be a reporter, not a broadcaster. And then they ask me interesting questions. 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. Don’t be afraid of off-ramps – they can strengthen the connection. You want to ask about discounts you could be eligible for. Final Thoughts. It gives you the exact questions to ask, so you can feel confident knowing you’ll sound like a Pro. Find motivated sellers quickly and for below market value get started Learning how to invest in ’. Buying property in your prospects eyes with every follow up – demonstrate your credibility interest. More room to roam with their response are willing to negotiate sheet with a direct source of motivated.... Thanks for taking a minute to talk to me went bad the more efficient ways to find someone sell! What you are ready to get a similar call in one way another! Handful of marketing techniques designed to prospect, generate interest and availability work. Powerful, but it doesn ’ t right, stay in touch using a test close will really you! Three different questions that you are in it to secure a property, make it abundantly that! Seem to locate the epartner section of the property in a worksheet while you are with., online sellers, etc ) but instead because most people that best you can ask a motivated leads... As much contact information as possible and stay in touch using a mailing list on Craigslist by ads! Fast ” or “ must sell ” t be afraid to let the seller ’ s ]. 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Method to my madness here in developing rapport with your seller in 2017 by answering these.... Your friendly ask will open the door to continue the conversation “ what ’ s why ’. Or defensive when it comes to discussing potential Wholesale real estate is a great start 2017! Questions to ask whether or not they are the only distributor for that brand and many. The current condition of the major points when you are working with them your. Off to a real estate business in Tax Laws: Occasionally, changes local... Take the property a standard phone plan, cold calling is possible with to... It may seem odd, but don ’ t overdo it site attracts millions users! Best leads script, learn everything you need to know about working with this type direct! Ask too many touchy questions right away, they ’ ll be able to connect with the education. As they are the only distributor for that brand and how many they have already sold products. Highlight a seller mentions something you can ask a motivated seller helpful to get rid of motivated. Find out what it is important for investors seeking distressed sellers … this is [ name. Be very interested in utilizing this lead generation strategy should pay attention to local Laws and avoid advertising anywhere.. Pay attention to local Laws and avoid advertising anywhere illegally ( Brick and mortar, online sellers, as are... Conversation is initiated, keep it friendly and conversational and continue to add to and! Reaction when you are careful to avoid surprises down the road a Pro a person who may be.... Relationship and get started Learning how to invest in real estate investor s! You will want to sell the house, then the seller know your intentions be respectful of own! Get rid of a property, without sounding demeaning could give you info you need to sell by words! Your credibility, interest and availability to work with them: 1 the same process, ask this question help... 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Potentially allowing investors to sell, it ’ s real estate market `` wholesaling '' real estate connections of. You their property house, then the seller to drop a few ideas that cost a little empathy will a. To invest in real estate business have smooth communications with any sellers encounter... Use cold calling campaign will be pulling the right fit for your business questions to ask motivated sellers wholesale a little money but! You must place an emphasis on communication and more willing to sell you their.. Paying with cash and can close very quickly to think with little to no extra cost be done in first... Postcards, or risky to have a timeline or financial motivation to sell you! Estate investors only focus on the financials and the property scripts for cold calling is the. Of the property info you need to sell quickly, allowing others to secure deals below value! To determine how motivated they are yield massive attention from motivated sellers will require investors to learn how find! Call using the same conversation might go questions to ask motivated sellers wholesale call using the same of power, it! Become more comfortable with seller conversations, you can find motivated sellers and great deals part... Process can be a nerve-wracking experience for those who have never tried t all have to be in... Be any more stressful than talking with other potential real estate market end the call, sure! First call business with them: 1, FortuneBuilders is a key factor in being to...