Motivated Sellers

7 Replies

I'm just starting out wholesaling and I've already come across 4 very motivated sellers.  But they all seem reluctant with dealing with someone other than a realtor.  Any advice as to how to make a motivated seller comfortable with you.

Good point!  Their reason for selling ranged from "moving out of state to passing of parents and being stuck with the property to tired of being a landlord".  Wouldn't you say that's motivation? They were open to offers/discussion but I could sense some hesitation.   It's my first time contacting a seller so it could have well been something I wasn't doing properly....

@James Jacobs be sure to share with them the cost savings that they will not incur when dealing with you.  if they are comfortable paying the 4-6% to a realtor then as @Marvin McTaw states they are not as motivated as you may think.  I'd suggest getting with a local wholesaler to partner with before you lose the leads.  Perhaps there are things specific to your market that someone with local understanding can share with you.  

Persist and you will win!!!!

@Shawn Ackerman thanks for your advice.  As I mentioned I'm very new and willing to listen to those who are more experienced. 

Originally posted by @James Jacobs :

@Marvin McTaw do you have any suggestions or recommendations?

 Yes James sorry as I posted before I got to finish. To me, a motivated seller is someone who is ready, willing and able to sell their property for well below current market value. Usually they are looking to sell because of some other catalyst or circumstance that is forcing them to sell. The situations you described might be circumstances for them being motivated sellers but you can't really know without delving deeper into the situations and circumstances. 

Why are they a frustrated landlord? Did the tenants tear up the property? Do they have the money to fix/update the property? Do they fear tenants in their area will simply do it again and not take care of the property? Have they considered hiring a property manager? 

Why are the people moving out of state? Did they get new jobs with definite start dates or just want to move? Do they have to sell their house because they can't afford the mortgage on this property and rent or a mortgage where they are moving? Have they considered putting tenants in the property? 

Now as far as them wanting to sell through a realtor instead of dealing with you, I would point out the pros and the cons. They will probably sell for a higher price but they would also have to pay commissions, usually have to spend money to update the house, and they have no guarantee the house will actually sell, and have to deal with closing costs, concessions, inspections, etc. When they sell through you, they can sell as-is, usually in a shorter period of time, you will pay closing costs and there are no commissions. 

I hope it helps! 

@Marvin McTaw  thanks for the advice.  I will delve more into their motivation to sell.  

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