I wanted to reach to the BP Family for advice as a wholesaler to know best tips when interviewing Foreclosure Leads. I have started my mailers list for my foreclosure list, and owners are responding much quicker than I expected. I want to be sure I have a better idea of what to ask for when vetting these new leads.
Your feedback is much appreciated.
You want to get quality not quantity of leads. First I would evaluate the direct mail and make it in a way that you only get motivated sellers to respond. You should treat most of the leads the same in my opinion, meaning that you screen them similarly. Of course knowing where they came from helps to be flexible in your approach. Your intentions need to be getting an appointment and understanding their WHY. If they don't really want to sell now or at all then you don't want to waste your time. This is super important, instead of asking "why are you selling" which they may not respond kindly you can say "Wow, that sounds like a great property why wouldn't you just keep it?" You can probably google wholesale lead sheet or something but you want to get client first and last name, confirm the mailing address and property address, their cell #, e-mail address too as your discussing with them. Obviously most importantly is that they are interested in selling and going into general information about the property. We like to ask if there have been any updates in the last 10 years and clarifying if not, that the property has been updated at all or if its original. Beds, baths, year, sqft, upgrades, lot size, etc... we also like to see what they are asking for the property and how they arrived at that price. How flexible are they if you can offer cash and close in as little as 2 weeks if they need to? Most will never say they have issues with the property so we like to use this question to pull it out of them... "If I came by the property I would bring my handyman or general contractor, what would they see that needs to be done?" There is a lot more but hopefully that helps some.