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.
Investor · Kern county Riverside County, CA · Member since 2008 · 494 posts · 261 votes
12y
it's not always cut and dry as to who is a motivated seller and who isn't. I just had a man call me from a letter who was very unmotivated according to everything he said. "I got this letter of yours. I'm not interested in a lowball offer. I don't need to sell. I'll just put a new renter in. And I'm busy and don't have any time to talk to you. Neighbor has a key, go see it and if you're interested email me an offer. Don't bother calling back." I went and saw the house, emailed him an offer and he accepted. Weird.
Based on experienced like that, I send offers to EVERYONE I talk to. If they don't accept, the others have given great advice about how to file and follow up from time to time.
Wholesaler · Fort Worth, TX · Member since 2011 · 163 posts · 45 votes
12y
I also make everyone an offer. I have had numerous people reject that offer and then come back months later asking if I was still interested or respond to the drip campaign ready to sell at my price.
Just bought one this past week who told me he wanted 75k and was not flexible. I told him I would be somewhere in the $50k's and if anything changed to call me. That was two months ago. He called me back last week wondering if I was still interested and we ended up agreeing on $56k.
Lender · Greater LA/Orange County area, CA · Member since 2012 · 3k+ posts · 3k+ votes
12y
Interesting how this thread has largely staid on point however no one really dialed into catalysts: the triggers that motivate and cause people to take a certain action.
Sellers decide to sell based on emotional triggers, sometimes multiple triggers, then rationalize their decision after first "trying on" the decision.
When marketing, it's much easier and more cost effective to target the exact person and circumstances that you'd like to encounter and buy from. Create a list of characteristics and demographics; maybe even name them. That's your avatar. Add in the emotional triggers that you are fishing for as the "attractant". This way, you'll be focusing on the person you want and understand.
Why waste time, money and effort trying to convince someone to do something against their will? The other issue with that strategy is that problems will develop between you and an unmotivated seller that signals they are not committed to completing the transaction. That triggers my emotions that cause me to say, [expletive].
Wholesaler · Atlanta, GA · Member since 2012 · 243 posts · 103 votes
12y
@Rick H. Thanks Rick! I have a specific list that I target. Please give some examples of some of the emotional triggers that have worked for you in your market if you do not mind?
@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?
Well, give them a call and tell them about what you are doing and that you are/represent investors looking to pay cash for the property. If they are willing, and if it seems worth your time (keeping in mind you have to get 70% or better of ARV) ask them if you could stop by to look at it in person so you can run the numbers and give them an offer. Most people are very willing to have you come over. My first DM campaign I had 60+ calls the first weekend, a lot from people who weren't even selling, and were wondering how I knew they had even thought about it, haha. Nevertheless, after a brief phone call to gather some information if the property sounds like it could be workable then they will more than likely be willing to setup a meeting (motivated). If they are stubborn or being ridiculous, or the property doesn't qualify, (un-motivated) you can save the personal meeting (and your time), and continue on to the next.
Thanks very much for your posts as well as your invaluable podcasts. Repeated listens are mandatory!
I've started getting a few calls, and I see a trend in which I ask what the house is worth and they'll respond with, "I have no idea." In the podcast, you suggested they conduct their own research. Does that typically work?
Also, when I ask what they want for it, they'll flip it back to me and ask me for a number. Do I respond with a lowball offer (i.e. 65% of ARV)?
If I get this kind of response from a seller for one or both of these questions, is it safe to say, they're unmotivated?
On the other hand, if I put myself in their place, they get a letter from me saying I want to buy their house, I don't think it's unreasonable to ask them for a number. The investor is the one initiating contact, not me. That's just one perspective, I suppose. But any insight you might have would be great. Thanks!
St. Petersburg, FL · Member since 2011 · 57 posts · 30 votes
11y
When I first started offering you have to get 20 or 30 no's before you get a yes. Several years later I usually won't leave my office unless I'm pretty sure I'm going to buy something.