Researching FSBOs to cold call for seller leads

10 Replies

Hi Guys,

I recently have added a VA to my REI business. I'm very new to working with VA's and also new to REI. Right now I have my VA cold calling ads from craigslist and other FSBO sites.

I wanted to know how should I filter which ads to call. I rather not have my VA waste time on calling every ad on the sites.

For craigslist I do a search. "-apartment -apartments -broker -realtor -realty" with 3 bedrooms. Is there anything else I should filter out or look for in the ads for my VA to call?

Any advice would be greatly appreciated.

Originally posted by @Henry Moore :

Hi Guys,

I recently have added a VA to my REI business. I'm very new to working with VA's and also new to REI. Right now I have my VA cold calling ads from craigslist and other FSBO sites.

I wanted to know how should I filter which ads to call. I rather not have my VA waste time on calling every ad on the sites.

For craigslist I do a search. "-apartment -apartments -broker -realtor -realty" with 3 bedrooms. Is there anything else I should filter out or look for in the ads for my VA to call?

Any advice would be greatly appreciated.

I would suggest filtering by any language that screams "Distressed Seller".  For example, "Motivated Seller", "Must Sell", "Need to sell fast!", etc.

Gerardo Dominguez, Real Estate Agent in IL (#887086)
Originally posted by @Henry Moore
 I'm looking for wholesale, flips and lease options.

For lease options you may as well call everybody, in my experience you can't tell from the ad whether there's a possible deal there.

For wholesales/flips you probably want to filter out "renovated" since there are plenty of other flippers out there.

@Doug Pretorius

I agree with calling everybody. I have it set up now that if even I can't do a deal I can pass the lead to someone that may benefit from it. I wanted to be able to help a seller. I don't like hearing someone with hard situations and leaving them hanging. If all possible I try to provide some form of help or option for them.

@Doug Pretorius is right - call all of them.

It's often hard to tell what's going on with a FSBO craigslist poster.

And it's doubly hard to tell what's going on with a VA in the middle. I prefer to hear directly from people. It's a lot more work, but it's more accurate.

Would I hire a VA to set appointments to look at cars on CL? Sure. Would I hire a VA to suss out motivated sellers, to really listen and talk to people? Not so much.

Let us know if you get some leads!

@Doug M.

It is hard to tell but I think all cold calls are. We are just trying to convert the cold call into a warm lead to get into the sales funnel. The more in the sales funnel the more opportunities I have to convert.

So far I get about 4-8 leads that I can talk to everyday. I think it goes into what you ask you VA to do and what kind of script they have. I hired someone with experience so we didn't have to cover much and every couple days refine if necessary. It hasn't been more then a week but it's been going great with buying time so I can focus on other things or even double teaming so we can get through more calls.

@Henry Moore Could you post a quick script of what your VA says on the cold calls to FSBO or For Rents? I will be using it to try to wholesale lease options if that helps.

Sorry for the late reply Jeff. 
For the FSBO I would have the VA ask were they open to leasing the property or selling a at lower price. If the home owner said yes the VA would get the home owners information and the information on the house.

I have an app set up in Podio for my seller leads and the VA would basically ask all the questions in the seller app. The VA would let the owner know I would reach out to the home owner in less then 24 hours. I would try to call as soon as I look up the property info.

The VA would then add them to my calendar so I know to call them back.

For Rent I would have the VA call and ask would the owner consider selling the house they are trying to rent. If not ask if they are trying to buy more properties. If the owner is looking to buy more properties then take their information and write detailed notes about what kind of properties they are looking for. I also had a buyers app so the VA would ask all the questions I needed.

Since you are doing lease options just have them ask are they open to leasing the home and take it from there.

I'm currently in the process of refining various call scripts, so either I, or an assistant(s) can contact FSBOs, FRBOs, expireds, etc. and ask the basic 'pre- qualifying' questions, then go into the situation specific script, based upon their responses. I would like to invest in the "Wolff couple's" collaboration(s) with Ron Legrand (call scripts, etc.) and I suggest utilizing the "Lead / Property Information Sheet" Ron and the Wolff's use, to determine what sort of potential deal you might have, especially if using a VA to do the pre- qualification calls, prior to your doing the follow- ups!

And I agree with Henry, Q: "I want to be able to help a seller. I don't like hearing someone with hard situations and leaving them hanging. If all possible I try to provide some form of help or option for them..." UnQ. If it isn't a win x3+ for everyone involved on some level/s (82% of potential buyers currently can't 'qualify' for a mortgage, while MILLIONS of properties STILL wouldn't cover the +/- 15% (assuming no serious repairs, etc.) to hire a brokerage, cover 'buyer concessions,' closing costs, etc., etc.) then WHY do, a deal??? Purchasing 'subject to' the existing note, or doing 'owner financing' agreements, then LOing via a cooperative or sandwich option, is the way to go initially, I think??? (I'm about to embark on this quest after 4- 5 months of study...) Then keeping the better acquisitions for 'residual' income, and (eventually) holding the notes! Also: 34% of properties are owned, outright... How many of those are 'owner occupied?' (Or not???)

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