How do wholesalers compete with other wholesalers?

How do wholesalers compete with other wholesalers?

Rental Property Investor · Member since 2021 · 423 posts · 190 votes

If 2 people put offers on a property and intend to flip, how do wholesalers compete since they need the extra margin?

Or do they just find the sellers who don’t have other wholesalers competing for their property?

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Wholesaler · Houston, TX · Member since 2017 · 264 posts · 212 votes
4y

Most new wholesalers would simply just offer more money only to realize that no one wants to buy the deal at that price point. Very ineffective. 

As a seasoned investor, my job is to make the seller understand that they are dealing with a seasoned professional and that I offer them certainty. I do this by educating them on the process.

People will do business with people they like & trust, this is how I consistently beat out inflated offers. 

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  • Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
    4y

    Understand it is not "Money" that is the inspiration here, it is motivation.

    We get our offers accepted even when our offer was lower than the competition. You need to completely redefine your wholesaling strategy.

    You need to focus on MOTIVATED sellers, not just "leads".

    It is about lead quality first. Then your credibility will do the talking!

  • Wholesaler · Houston, TX · Member since 2017 · 264 posts · 212 votes
    4y

    Most new wholesalers would simply just offer more money only to realize that no one wants to buy the deal at that price point. Very ineffective. 

    As a seasoned investor, my job is to make the seller understand that they are dealing with a seasoned professional and that I offer them certainty. I do this by educating them on the process.

    People will do business with people they like & trust, this is how I consistently beat out inflated offers. 

  • Investor · Tampa, FL · Member since 2011 · 2k+ posts · 3k+ votes
    4y

    Most of the time they offer too much to get anything they can under contract and then just mark up the price accordingly. 

    The ones that get actual deals instead of properties differentiate themselves somehow. 

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