Seller Questions ????

Question

Hello guys..

I just have a quick question.  I am fresh out of the BP classroom on wholesaling I have a seller that I am communicating with and they asked me was Iooking at the house for a flip. I am wondering how should I have answered the question.

My answer was that my partner and I are real estate investors and we invest to make a profit yes.

It was at that point that the communication kinda of broke down and they are avoiding my calls and emails.

I am wondering if my response was the best one to make.

Wayne Brooks · Answer

When someone says "win-win" to me, my eyes automatically start rolling around in my head, my ears start to shut down, my feet uncontrollably turn and start to walk away...I can't figure it out.

Jim Viens · Answer

Another good way to respond is to answer the question with a question:

Seller: "If I sell you the house are you going to flip it?"

You: "Will that be a problem if I do?"

If they answer "yes" then you can tease out why it is they may have a problem with it:

"Is it the sentimental value of the house?"

"Is it that you don't think you'll get a fair price for the house?"

etc.

Ask 3 or 4 of these types of questions to nail down why they don't like the idea then have responses ready to make them more at-ease with the idea. I liked the statements above that were along the lines of "We're here to help you with selling your house and creating a win-win situation for everyone in the end."

Hope that helps and good luck on your wholesaling.

Najeriq Mentor · Answer

Usually sellers don't know a ton about real estate. Even as a novice you can probably teach them a few things. I'm wondering whether you were speaking to a seller or another wholesaler.

A lot of times when we market our properties, as you may already know, we mask ourselves in a way to appear as FSBO's to draw a bigger buyer pool. You may have called a Wholesaler that didn't want to share his deal with another wholesaler. (after wholesaling for a while spotting another wholesaler will become too easy, just by things they say, the way they words their ads, and the way they come off)

In my team I talk to the sellers and I have a web form of questions I ask them and record. If a seller asked me that question I'd say something along the lines of I may rent it, I may flip it...or I may just hold it. Most sellers could careless though, all they need to know is your interested in buying it

Tyrone Little · Answer

No real repoire was built. I was just asking basic questions about the property and reason for selling. I did however send a follow up email explaining that I am wanting to create win-win situations for the both of us along with helping out if possible with whatever the issue is or may be.

Christopher Hunter · Answer

@Tyrone Little Welcome to BiggerPockets Tyrone.  We are in this business to help people is probably what they wanted to hear.  Was repoire built up with this seller?