When a wholeseller cold calls you.. how do you respond?

Question

Hey BP community,

To all the investors out there..

I'm sure many of you have gotten that call from a wholesaler asking if they would like to be added to the list.. how do you respond? Do you appreciate the call or are you irritated?
How about when they would like to set a meeting or ask you to sign a non-disclosure or POF.. what's your response and feelings about that?

I appreciate all your feedback, thank you!

Nick C. · Answer

I don’t answer my phone anymore. Too many auto warranty calls and other annoying spam. But if I did I would have no issue with a wholesaler trying to sell a deal and getting put on their buyer list.

Joe Splitrock · Answer

@Joshua Viksman All the calls I get are from virtual assistants reading off a script. You can't have a real discussion with a telemarketer. Very few even call. Most send bulk texts. As an experiment, I have started responding "yes, I am interested in selling my house, call me". Nobody even responds. It is actually really strange. I have even responded and had another bulk message come back on the same number later. I have tried calling those bulk text numbers and they are not even good numbers. These wholesalers are not only wasting money but loosing opportunities.

The other day I got 12 post cards in the mail asking if I wanted to sell my property at various addresses. If you are going to buy a list, scrub it for duplicate mailing addresses or at least spread out the post cards. Sending 12 post cards just tells the seller you are inexperienced and not credible.

One final tip. If you put your phone number on a sign or a post card, answer every call. Don't outsource it to a virtual assistant or let it go to voice mail. When someone is ready to sell, they will find a wholesaler who picks up the phone.

On the rare occasion I do talk to a wholesaler, I just ask to be added to their buyers list. I have only been added a couple times.

My advice is stop worrying about irritating people. Prove that you are better than the other 99% and you will get plenty of deals.

As a buyer, If you asked me to sign a non-disclosure or show proof of funds, I guess that would be fine IF there was an actual deal in play. If you are asking for that to add me to your buyers list, it seems kind of excessive.

JD Martin · Answer

I usually just tell them I was about to call them to wholesale a property to them :D

Joking aside, I don't answer my phone any more unless I know the caller or they leave a message. I rarely bother calling any wholesalers back because a) I'm not looking that much these days, and b) it's been mostly a waste of my time since they rarely have an actual deal.

Dustin P. · Answer

I appreciate any call I can get where there's an opportunity to make money. I always ask if they have a deal they're looking to sell currently, and if not then I ask to get put on their list. I'll comp their first few deals and give my feedback and my number (Or if I can buy it then I'll just put it under contract) and see how the relationship develops from there. If you get irritated about receiving a call you're probably in the wrong business. Signing a non-disclosure or providing a proof of funds is not an issue

Jay Hinrichs · Answer

Exactly Joe.. Even if I say sure I will sell send me a contract.. I have in all the years only had 2 send me contracts.. the rest I simply never heard from again.. or the contract was beyond rediculous IE 10 dollars EM that kind of thing.

Account Closed · Answer

Ask them for a bank statement. That will send them running faster than garlic scares a vampire.

Joshua Viksman · Answer

@Joe Splitrock Awesome reply and feedback, I appreciate it! The issues you mention with VA's and salespeople who don't call back is something I have seen in every niche of real estate that I have been part of. As a property manager, realtor and investor, I see this all the time and it's still hard to fathom why even spend the money or time- to drive halfway to your destination and then just turn around a go home.

Joe Splitrock · Answer

The best telemarketer response ever is in the movie Boiler Room. If you have not seen the movie, the main character sells stocks over the phone. They target wealthy people who are financially naïve like doctors and dentists. The main character is at home eating breakfast and gets a telemarketer call from a guy trying to sell newspapers. He coaches him on how to do it right.

JD Martin · Answer

LOL. I'm going to steal that Ned!

Ned Carey · Answer

@Julie Marquez I have had people sending me letter to buy our property on Guilford Rd. It is a UPS store. The only thing we have there is a PO Box.

When a wholeseller cold calls you.. how do you respond?

When a wholeseller cold calls you.. how do you respond?

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