What Your Cash Buyers “Don’t Want” is more important then what they think they “Do Want”

10 Replies

Slice through the BS and get the Right Cash Buyers to your Wholesale Deals ASAP.

Buyers are NEVER 100% clear on what they do want, but they are ALWAYS 100% clear on what they don’t want!

What does every Cash Buyer say (besides “let me see your deals first”) during the initial conversation “I’ll take a look at any good deal” – Well as every Wholesaler knows that is complete BS.

What difference does it make if you know what they THINK they want. The truth of the matter is that’s not how they buy!!! Here is the mind of a buyer…

“I once got burned rehabbing a house in this part of town, is this house in that area of town?”

or

“It took me 3 months to rent out that small 2 bedroom house I bought last year, is this house too small?”

When you e-mail out a property it could be the “Deal of the Century”, but if it’s in a neighborhood your buyer doesn’t like he or she will not even open it! Or you send out a “Landlord’s Dream House” with “High Returns”, some won’t look twice if it’s under 1400 square feet!

Knowing what they want combined with what they don’t want will put you in a very powerful position, easily creating FEEDING FRENZY around your deals!

Check out these examples (always double confirm):

Are there any parts of town you avoid?

No? OK, so you are actively looking for properties in (worse area)

Do you have min/max numbers on square footage?

No? OK, so under 1,000 sf is in your wheel house

Here are my buyers BIG 8:

  • 1.Square Footage (min/max)
  • 2.Type of house (single family, multifamily, two story, townhouse, condo, etc…)
  • 3.B/B Count (min/max)
  • 4.Specific area’s they want / don’t want (get granular on this)
  • 5.Construction Type (important in FL - Frame / CBS)
  • 6.Pool House vs. No Pool (insurance reasons)
  • 7.Rehab Commitment
  • 8.Home Owner Association Fees

What are your buyers big decision points?

To Great Real Estate Adventures,

Tom Krol

Excellent post! Too many times we hear that a deal is a deal however, when you have a great deal and present it.....Now the buyer gives these objections! Your Big 8 is great and I do believe  that they will vary depending on the region slightly, but excellent info!! Thanks for the nice read this morning!!

Absolutely,

I only call the buyers who fit the criteria of the house.

When you call them and tell them about the property they don't hear any of the "red flags" they are listening for about the opportunity and jump all in!

Account Closed 

The buyers I deal with only want to know one thing... 

"Where do i sign?"

But I am not a wholesaler and everything goes on the MLS so I dont deal directly with them often.

BTW You haven't said anything about those friggin awesome leads you're finding... I am amazed that you unlocked vault on a lead source so incredible, one that hasnt been touched before.  Virgin Hot Leads are gold... 

I like the interesting twist you put on those questions to your buyers!! If they DO have criteria I believe you will get it out of them..lol!! Nice work!

Originally posted by @Jared Kemper:

I like the interesting twist you put on those questions to your buyers!! If they DO have criteria I believe you will get it out of them..lol!! Nice work!

 Exactly! 

We still blast out the property to the world, but we only call the buyers who's objections we already answered. Creates a "feeding frenzy"

@Tom Krol great post, thanks! Good to hear from another Florida wholesaler. By the way, I'm looking for SFRs for buy and hold, what sort of prices are you getting up there in Port St Lucie? 3/2 or 4/2, CBS, no pool, not a war zone...

@Michael Q. Okay, I'm going to go ahead and take the bait....what source of leads are you talking about? I'm a loyal customer of YellowLetters.com and have done 13 deals this year off the marketing so I'm a huge fan, but always on the lookout for new ideas and lead sources. 

@Chris Kennedy ,

To make the @ work, do the following:
Hold down the shift key and type @?
Look below this Window, and you will see a list of names of people that have posted in this thread.
Click on the name of the person that you want notified via an email, that you responded to them.
If you are a Colleague with anyone that has NOT posted in the thread, and you want them to see your post, hold down the shift key, type the @ and the first 4 letters of their First or Last Name.
Then look below this Window and click on that person's name.
Raymond

great post

@Raymond B.  thank you! I actually figured it out this morning, but it was frustrating the heck out of me - much appreciated!

Originally posted by @Michael Q.:

@Tom Krol 

BTW You haven't said anything about those friggin awesome leads you're finding... I am amazed that you unlocked vault on a lead source so incredible, one that hasnt been touched before.  Virgin Hot Leads are gold... 

 About to share that information with everyone! Thank you for helping me expedite my ability to hit these time sensitive leads at just the right moment!

You could Wholesale without Yellow Letters, but would you really want to???

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