Turn 'No' Into Deals: Cold Call Strategies Revealed

Let's call some sellers. Just so you guys know, like, this is not scripted. I don't even know if these people are going to answer. I hope they do. And that's why I wanted to make sure and go over that deal in Arizona that was a lead that came in yesterday in case some of these people don't answer. Like, I haven't set anything up.

You're showing people what this is really like. It's not like you— they answer and they're just like, hey, how you doing, sir? What can I— you know, you gotta, you gotta call a couple times. And but as you do that, I'll write down kind of the steps you're taking.

So Jody Davis is her name. I don't know if I'm allowed to say that or not. She came in as a lead, uh, this morning, and it is Upland— well, the street is Upland Ridge, Northwest Conyers, Georgia. I do a lot of, a lot of advertising in and around Atlanta, and this is a suburb of Atlanta. I love Atlanta, great market, great wholesale market, a lot of cash buyers, a lot of investors, a lot of hedge funds, a lot of all the above right there, brother.

I grew up in Marietta, Georgia.

Oh, that's right, I knew that.

Let's call her, man.

What's up?

Let's call her. As we're talking, I'll probably get like Zillow, Redfin, realtor.com open and stuff, just— but let's call her, see if we can get on the phone first.

That just makes it real when you're looking at something or when you're talking to them.

Hello?

Hello, is this Jody?

Who's calling?

Jody, my name is Lane. I am calling because you had filled out some information on one of our websites about your property that you're trying to sell. On Upland Ridge? Yes. How are you today?

I'm fine.

Good. Well, Jody, I wanted to reach out. I appreciate you finding us. What can you tell me about what you got going on there with that property?

I'm not sure what you're asking.

Well, just tell me a little bit about it.

I want to sell it. Like, what?

Okay. I mean, do you have a— do you have a timeline that you're looking to do that in?

The sooner the better.

Okay. Well, you came to the right place. We are a cash buyer, so, you know, we can close quick. We can buy it as is. Obviously there's no real estate commissions or closing costs involved in it. So is the property currently vacant? Is it something you're looking to, to do quick?

No, I live in the property.

Okay, so do you, you already have another place to go and to live, or are you looking to like maybe rent back after we close for a little while until you find a place to go?

Um, yeah, I would probably need like 30 days after the closing date to be able to move out.

Okay, well, we can accommodate.

I kind of just wanted to see like, uh, maybe a quote that you, you guys can give or something. I don't know if you guys could give a quote.

Yeah, no, totally understandable. What's got you moving?

Um, me and my ex-fiancé bought the house together, um, anymore, so we're just trying to sell it.

Okay, part ways. So is he on title?

I'm sorry, what was that?

Is he on title? Like, is he an owner of the home as well?

Yes.

Okay.

So he's willing to sell also.

Okay. He's on board.

He's willing. Yeah, he's on board. We just— I just wanted to get a quote on how much you guys offer because we already got a quote from, um, Open Door, but I saw this ad on, um, I think YouTube, and it was telling me you guys do quotes too. So I just wanted to see who was the better option.

Yeah, yeah, no, we definitely do. What did the Open Door offer you?

$213,000.

Okay, so I've sold a lot of houses to Open Door and I know how they operate. And just out of curiosity, have you made sure that's like the net number to you? Because a lot of times they'll give a price and then if you accept it, then they take out all their fees out of that number.

Yeah, they told me that— he told me the fees were— I can't remember. They told me the fees or something like that. I think it was like $3,600 or something.

So is that number, the $213,000, is that after they've taken out the fees?

No, that's before they take out the fees.

Okay. And so what would be the net to you?

Currently we owe $163,000 on the house.

Okay.

Well, I was trying to get to the bottom of what Opendoor's offer was. So if they said $213,000 and then there's how much in fees off of that?

I think it was like $3,000, he said, for after all the fees. So it would be like $210,000, maybe $209,000 that they would give us.

Okay. And have they been out to see the property yet?

No.

Okay.

Yeah, we got an appraisal, and currently the appraisal is $230,000.

$230,000. Okay.

Yeah.

And how's the overall condition of the home?

Everything's fine with it. The only thing is the, um, that storm that just happened, that tornado that touched down over by us, um, there's a portion of the roof that the shingles came off of. So I tried to get it covered by the insurance They said it was like $4,000 to fix it, but that's like as much as my deductible. So they just, you know, I'm just going to have to fix it. So it's about $4,000.

Well, I'll be honest with you. That's a pretty dang good offer if that's what they're willing to do cash. Just be aware that, like I said, I've sold a lot of houses to the iBuyers and, you know, they'll give you a price, they'll send you an agreement, you sign the agreement, and then they come out and do their inspection or their walkthrough. And then they hit you again for a price reduction for repairs. We always pride ourselves in, when we go to contract, we do everything possible. We're not going to ask for a price reduction. And so I would just be aware of that and just, you know, make sure you look out for that. Um, because it sounds like, uh, yeah, to me that that's a very good offer. I mean, I, I wouldn't be able to get to that number of $210,000. I might I might be able to get close to $200,000, and that would, you know, like I said, if once I get my guy over there to, to walk it and take the pictures and everything, and if it's, you know, put together like we're talking about, I think that I could probably get close to $200,000.

Okay, that's okay though. Thank you.

Okay, hey, I really appreciate you reaching out. Have you ever explored other options? Oh, I got hung up on—

that girl was sassy, bro.

Yeah, that was That was good, guys. That's what you call a smooth operator.

That was great, bro. She kind of rattled you a little bit in the beginning, dude, because she's like, what are you talking about? You're like, I think my question is pretty clear, tell me. But she was like, what are you talking about?

You know, open door is hard to compete with, but I mean, I've done it so many times, time and time again. It's like they give that price and they don't tell the the owner that their fees are going to come out of that. And then they also don't have any estimated rehab. So once they sign the agreement, then, then they go out there, they do their inspection, they're like, oh well, we need $25,000 for repairs.

So, so what's the plan on this one? I, I would definitely— this is definitely a motivated seller, mainly because of the situation. And I wrote it down, everybody, if, if you guys don't— didn't see it. She broke up with her, um, ex. So they broke up. She has an ex-fiancé. They want to sell. He's in the hospital.

You—

we didn't really go too deep in that. We which is fine, but there's obviously something going on. They probably need the money. She owes $163,000. She got an appraisal at $230,000. I don't really care about appraisals. I'm sure the ARV of this property without looking at it, maybe it's like $250,000, $260,000 or something. So to—

Yeah, I mean, you know, Redfin's got a $261,000.

Right.

So like even to get you close to $200,000 on a cash, it'd probably be tight.

Honestly, I was throwing it out there kind of to gauge her response to see if there's any, even any discussion after she has her Open Door offer.

Yeah, I know for sure. And you know, I was really interested, like, $200 is still pretty close to the $210. And she's like, okay, thank you. Like, there's something— I don't know, there's something going on. Do you mind if I give you a critique, Lane, or no critique?

No, please.

I don't want to roast you.

And same thing with me when I make calls, critique me. I would just— when you called her, it sounded like she might have been in the middle of something, or she might— she was just like, kind of like, what?

Oh, dude, you're right. You're totally right. I should have asked if this was a good time.

That's the one thing I would recommend because you kind of went right into it and I feel like you almost knew yourself. I could feel like maybe you felt like, you know, I got to get through this quick. With that one question, hey, did I catch you at a bad time or do you have 5-10 minutes to talk?

You would have felt a lot more comfortable to talk it through.

Good feedback for sure.

Yeah, for sure. That's the only thing.

Couple things I want to touch on as far as positives though, guys, and again, like a testament to being been doing this for a minute, right? Guys, when in the beginning, right, she was kind of a little bit of an aggressive tone, right? She sounded like she didn't really want to be on the phone, or she sounded like she was about to hang up any second, right? One wrong word.

Yeah.

If you guys noticed, he smoothly— he just kept moving the conversation forward, right? Naturally. And you know what happened? This is what happens with, with so many sellers, right? It might start off rough, but when you keep just kind of moving the ball forward forward, it smooths out, they get in the groove of it, and then it turned into a perfectly fine conversation, right? And you just had to work through that little bit of, of that upfront barrier, that smoke screen that they put up initially, right? So kind of keep moving through that process, kind of no matter how their tone is in the beginning. And then the other thing that I love that you, that you did, like pro, pro move, guys, the other offer, right? She's like, oh, Open Door, $213,000. Guys, this is so great. You weren't like, oh man, they're lying, this, that. No, push her to like, that's a great offer.

You should take that.

Like, absolutely hands down. Guys, whenever there's an offer, and especially because the thing is, is, you know, you know how the process goes. Even if you're like, oh wait, but that's not a real offer, blah, blah, blah. And you kind of gave her a little bit of a heads up, which is good. Like, oh hey, just keep an eye out for these things. But when you're like, yeah, that's a really good offer, you should move forward with that. The thing is, you're perfectly setting yourself up for when she does move forward with them, and then they walk in, they're like, yeah, we need to be $30 grand less. She's gonna feel disgusted with that company and feel like, you know, they wronged her. And then that's when she's like, hey, you know what, Lane, I had a really good conversation with Lane. I don't know what price exactly he's gonna be at, but he was nice, I liked him, I trusted him. I'm gonna have a conversation with Lane. Either I'm gonna call him back, or when he sends me a follow-up text, call, or whatever, I'm going to continue that conversation. Now, the funny thing is, even if you're at the same price or lower, she would rather do the deal with you than with the other guys that misled her and, and kind of made her feel this really bad experience. And that's where people love it when they feel you're genuine.

Yeah, 100%.

So yeah, that was— I just wanted to throw that out there. That was, that was good. That was a really great conversation, Lane.

Um, actually, do you want to, you want to give any feedback, or are you or not? Like, what did you learn? I got, I got someone from the, the Venom at— he listened. Do you have anything that you learned?

No, I'm a punching bag, give it to me.

I thought you did good. You handled it very well. Um, I like the range offer that you put on there. I would have kind of pressed a little bit different myself, is, hey, okay, great, when she mentioned the $163,000, um, hey, you know, what if you can walk away with $20,000, $30,000, or $40,000 in your account within the next 14 to 21 days? I know we were a little close on that gap. But I thought that you got a lot of good information. You handled it very well. You pushed right through her objections. I think she will be, you know, she's still looking. So I don't think that it's a dead deal.

Yeah.

Yeah.

They're still—

that's not good. At the end, when she hung up on me, when I asked her, have you explored any other options? You know, that's how I can roll into creative or novation.

Right.

But I got hung up on, but sub-2 and seller finance is very difficult in a breakup. You know, you got X amount of X, Y, and Z. They want their money, right? They want their money and they're like, nah, you ain't making payments to us. Like, we're done. Get us out of here.

So Lane, this is really good because this situation that we all just saw, this happens a lot because you just talked to someone that was motivated. I would say like, yes, pursue this. But it kind of ended kind of like either she just hung up, kind of rude a little bit, to be honest. What are you going to do now? Would you call her again tomorrow and just act like that didn't happen? Would you text her and say, hey, sorry, I might've caught you at a wrong time, but I I still have a couple questions. What's your, what's your plan?

She is definitely going to be in my follow-up campaign until she opts out. So I, I put them in my follow-up, and yes, I will call her. I'll probably give her more than a day. I'll probably give her a couple days and just see how it's going with that offer with Open Door and just say, hey, I'm, I'm here. We're, you know, our— you love to give you a final offer if anything happens. So, and then she'll be in my follow-up, you know, she'll constantly getting— get— be getting text messages and emails from us until she opts out. That's definitely not turning into a dead lead.

Okay.

That is a very motivated seller right there.

Yes, it is. One thing that I would do if I were you, just if this was my lead, I would text her right now and just like, hey, sorry, it seemed like I might have caught you at a bad time. I am really interested in the property still, and there's a couple options I didn't explain to you how I can buy properties. Love to hop back on in a couple days or after you get your final offer from Open Door. Love to, you know, be of service. I think something like that. Yeah, because I think if like you don't really engage or like get back with her until later, I don't know, I just would just touch on that and just be like, hey, I'm here. Awesome. Great. Next one. Yeah, Lane, and I hope you're cool. I appreciate you just this feedback. I'm the same way, bro.

I love it.

You guys are going to have a lot for me just because there's so much to remember, guys. I'm telling you, that's why it's such a skill set. Like a lot of people think when they get into this game, they can just hop on and they're closing deals. It's like, guys, This took— it's taken years for Lane and me and Nathan to master the skill and even get— it's a daily thing. It's a— like, no one is born a great salesman, right? Some people can be born at communicating and talking well, but, but being a salesman, it's practice. Like, you talk to the best sales guys, they practice every day. So just, if you don't feel like you're good, it's okay. It takes practice and it takes time.

100% agree.

Hey everybody, what's up?

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