Short YouTube dialogue about the three primary activities needed to wholesale real estate: building relationships/conversational skills, conducting research and knowing the numbers, and negotiation. The speakers emphasize negotiation as a critical skill and suggest practicing conversation and research to prepare for wholesaling.
What's the first three things you need to do to wholesale real estate?
Be able to build relationships and have a conversation with people, doing research, doing the research, knowing the numbers, that's very important. Negotiation. Negotiation is a major, major, major thing.
How do they sharpen that negotiation skill?
If you're approaching the deal to make the deal, to make the money you already lost, you approach it by building the relationship. When I get on the phone with a seller, what I'm doing, the first thing that I'm doing is, is I'm, I'm first of all humanizing him. I'm letting Steve know that I understand his circumstance, I understand what he's going through, and I am getting to know Steve most of the time. Most deals are made in the follow up. And so I may not make the deal the first time I talk to Steve, but if I get to know Steve on the first call and then the next time that I talk to Steve, I bring up something that resonates to him. I'm just building relationship and building rapport, and that is what sells deals.