I've never been a big fan of cold calling, but the past 3 months have slowed up for me so I decided to give it a try - or a "nothing to lose" mind set.
I went to check out craigslist and found a For Sale By Owner who wanted to sell their house in my market area. I gave her a call and asked if it was still for sale.. she told it was, and if it was priced too high we could work on it.
I thought it my head.. wow, she needs to sell! I asked her how long its been on the market (over a year), and asked her if it was listed with an agent. She began to tell me how no RE agents do a good job, etc.
I told her I was a RE agent and would sell her house in 60 days. I gave her my website and told her to go read and see if she likes it. I would call her the next day.
I called her the next day, and she said let me think about it. She called me back yesterday and I'm listing it Thursday.
1st Cold Call Success Story for me. I'll be picking up the phone more often now.
Congrats Danny, as a sales pro i know cold calling sucks but that 1 out of 10 makes it worth it!
Awesome, Danny! Good luck to you.
Congrats on your cold call, but aren't you missing the big picture? She wants to sell. You are going to work your butt off for 2.5-3%?!?! I wholesaled a house this morning for $7,000 profit. I didn't see the house. I didn't meet the seller. I never even wrote up a contract.
Sounds like you have a hot seller on your hand. Make her an offer and get an option on the property, find a buyer, and collect the difference. Or, buy it yourself and flip it.
Either way, congrats on getting on the phone. I love cold calling and almost all my deals come from negotiating property owners into selling to me at a fair price. Most of whom had no intention or thought of selling before they heard from me.
I did cold calling when I first started out.
My results were pittiful at best.
I found that most FSBO's were udnerwater sellers who couldn't afford a agent in most scenarios. They tend to be overpriced and selling a sub par product that nobody would buy regardless of how much advertisement I put behind it....
Even more confusing is the concept that wholesalers can somehow buy these underwater homes and convince a rehabber into buying them... I just don't see how the concept works in a soft market where the majority of sellers are underwater...
Hope it works out!
Good job @Danny Day .
I would propose that this is a "warm" call. Maybe it is just a term we made up but we call fsbo and expired calls warm calling.
They have a much higher success rate than cold calling from a phone book.
Whatever you call it, Congrats.
Right on Danny! Best of luck to you on your future cold calling. If you divide your calls by the money you make, each call equals "x" amount, so each call is an unrealized gain.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing