Wholesaler · Atlanta, GA · Member since 2012 · 243 posts · 103 votes
Hello everyone,
I know I have been asking a lotos questions lately, but it is only because I am taking action and encountering issues along the way.
I have been generating a good bit of leads for a beginner, but none of them have become a deal yet.
My question is; Even though a lead calls, if they are not "motivated", as in they are interested in an offer but aren't in distress, should I keep moving,or attempt to make something out of it?
I am asking because I have a few leads, who want to sell, but may not be in a stressful situation and aren't pressed. Am I wasting my time by offering them a deal?
Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
12y
I'd keep the non-motivated leads on file and set up drip marketing for them. For many sellers, it's about "when," and you want to be there when it's time for them.
An occasional email, text, or call, can help keep you top of mind. Something like. "I'm just checking back to see if anything has changed and if you are ready to sell your property. No? Would it be OK if I checked back with you before the end of the year?"
Don't try to create motivation, just search for it, and explore it when you find it.
Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
12y
I'd keep the non-motivated leads on file and set up drip marketing for them. For many sellers, it's about "when," and you want to be there when it's time for them.
An occasional email, text, or call, can help keep you top of mind. Something like. "I'm just checking back to see if anything has changed and if you are ready to sell your property. No? Would it be OK if I checked back with you before the end of the year?"
Don't try to create motivation, just search for it, and explore it when you find it.
Rehabber · Smyrna, GA · Member since 2013 · 864 posts · 510 votes
12y
Love this: "don't try to create motivation, just search for it".
How are you marketing? You may want to target motivators more. Talking to non motivated sellers will burn you out pretty quick.
Wholesaler · Atlanta, GA · Member since 2012 · 243 posts · 103 votes
12y
@Darrell ShepherdI have multiple lead sources but the leads that I am speaking on came from driving for dollars (the houses look horrible by the way) and tax delinquent properties.
Rehabber · Smyrna, GA · Member since 2013 · 864 posts · 510 votes
12y
Then you're on the right track, just make the offers (and lots of them) on your numbers. They'll come back months later sometimes and say "you still interested?" Its been pretty tight around here lately, lots of people buying dumb so sellers expectations are out of whack. I've noticed the deals coming my way pick up quite a bit, though, so I think things are starting to level out some.
I know I have been asking a lotos questions lately, but it is only because I am taking action and encountering issues along the way.
I have been generating a good bit of leads for a beginner, but none of them have become a deal yet.
My question is; Even though a lead calls, if they are not "motivated", as in they are interested in an offer but aren't in distress, should I keep moving,or attempt to make something out of it?
I am asking because I have a few leads, who want to sell, but may not be in a stressful situation and aren't pressed. Am I wasting my time by offering them a deal?
I'm not sure who I heard this from on BP but quoting them "I never let a potential deal die on my side of the table." Hope that helps!
Wholesaler · Atlanta, GA · Member since 2012 · 243 posts · 103 votes
12y
@Jason Eyerly I agree. It's early in the game for me so might as well get use to rejection and get some practice on making offers. Should I meet with them face to face to make an offer or is the phone pretty common?
@Account Closed should I say that even though I am wholesaling?
Flipper/Rehabber · Bakersfield, CA · Member since 2008 · 3k+ posts · 3k+ votes
12y
There is absolutely no reasonable and legal way to create motivation. That's like saying I will pay you a million dollars to love me.... Really!!!!!!!!!
If a seller isn't motivated to sell just keep them on your list and follow-up the same way you will follow up with the other unmotivated people who didn't call you. Eventually thru touches some of those unmotivated callers will become motivated and call back and tell you they are now ready... AT THAT TIME negotiate your offer based upon cash or terms. Cash doesn't always win... When you deal with cash transactions you must mitigate the cost of a cash offer with a lower purchase price and some would rather earn more by selling Sub2 or offering Seller financing.
And you have to answer the question of how to determine motivation before you waste time determining whether it exists or not.
@Jason Eyerly I agree. It's early in the game for me so might as well get use to rejection and get some practice on making offers. Should I meet with them face to face to make an offer or is the phone pretty common?
@Account Closed should I say that even though I am wholesaling?
Face to face if possible. Most people are non confrontational and will find it much harder to say no in person. Plus, it makes you seem more credible and legitimate.
I only know my way... I absolutely HATE busy work... It is not productive and a waste of time in my opinion so I ask 5 questions... With that said I also know that I leave possible deals on the table however I don't care. I have adapted the idea of waiting on the deal. I don't push it, I don't pull it, I just wait on it. And the deals are in abundance and very profitable.
Its like being in a fight, the guy who jumps out and spends all of his energy in the first few rounds eventually gets knocked out by the guy who intentionally paces himself.
Let the deals come to you.. Don't be impatient and force deal because if you have to "sharpen your pencil" you are going down the wrong road.
Wholesaler · Atlanta, GA · Member since 2012 · 243 posts · 103 votes
12y
@Jason Eyerly how do you go about requesting an in person meeting with someone? Should I say I would like to meet with you to discuss an offer on your property?
@Michael Quarles That makes perfect sense. But if they call, I should extend an offer and just move on of they don't accept right?
Involved In Real Estate · Harwich, MA · Member since 2013 · 27 posts · 10 votes
12y
To find if they are motivated quickly on the phone I like this tip I was given recently-
Ask them "Why do you need to sell, is it because something major is wrong with the house?" Or, "Just curious why you are selling? & I ask that because I had someone once try to sell me a house with a (Insert: "A title issue" OR "because the foundation was sliding into a lake")
A lot of times this will get them to offer their true motivation instantly. If they are motivated they will want you to buy it.... and if they want you to buy it they will attempt to ease your concerns that there is a major hidden issue by blurting out the motivation.... "Oh no, nothing like that, it needs some work but my wife left me last year and it's been tough"
As to the original question, you need a license to collect a fee, but getting your license solely to collect a fee isn't that expensive (No MLS or Realtor $$) but you can say "hey Mr. Unmotivated Seller, it sounds like something I might not be interested in, but I have access to the MLS & can find out who the agent is that has sold the most amount of homes near you over the last year and put you in touch with them if you like.... The only thing I ask is that for me doing that for you, you have to promise to keep me in mind if one of your neighbors, or someone you know, has a house they need to sell quickly"
you should do those things that you feel are in your and the sellers best interest. Most people make offers to people who are not ready to receive that offer because they don't have anyone else to make an offer to...
Wholesaler · Atlanta, GA · Member since 2012 · 243 posts · 103 votes
12y
@Michael Quarles Nicely put.. If I understand correctly, you are saying not all offers are good offers and no need to make an offer of seller isn't ready to receive an "investor" offer.
First the comment: If you gave someone $1M, they may in fact actually love you!! I'm just saying..
Now the question(s): What ways do you find most useful for follow up on non-motivated leads? Do you simply keep them on your direct mail list and continue to mail to them? Or, do you take them off your direct mail list and save the money spent on sending them direct mail and instead put them in an autoresponder sequence and email to them?
Flipper/Rehabber · Bakersfield, CA · Member since 2008 · 3k+ posts · 3k+ votes
12y
I leave them on the list... I am going to hit the list on a 17 cycle and refresh the list every six months. I have found that this is an easy and benfical approach..
I know I have been asking a lotos questions lately, but it is only because I am taking action and encountering issues along the way.
I have been generating a good bit of leads for a beginner, but none of them have become a deal yet.
My question is; Even though a lead calls, if they are not "motivated", as in they are interested in an offer but aren't in distress, should I keep moving,or attempt to make something out of it?
I am asking because I have a few leads, who want to sell, but may not be in a stressful situation and aren't pressed. Am I wasting my time by offering them a deal?
It's unlikely they will sell for a good price, but not impossible. I've had people just say they want so much for a property even though that's way under market even though they have no real motivation. No reason not to buy those deals. But, usually, they aren't going to come down far enough. Get a feel for their price. If it's in the ballpark, pursue it. But if it's not, given they have little motivation, they probably won't come down much.