Why Most Wholesalers Fail with Agents (Use THIS Script Instead!)

You've all been hearing that you can get deals on the MLS and with working with agents. So how do you approach an agent? How do you do it? Let's talk about it. Now, you've all probably seen that people are making money through wholesaling deals that are on market. So by the end of this video, I'm going to explain and show you exactly how to approach an agent so you can wholesale a deal that is on the market listed with a real estate agent. On top of showing you exactly how to talk to real estate agents, I'm going to show you word for word step-by-step what to say in the initial conversation, okay? And I also have a script that I can give you that will help you with that conversation. Also, I'm even going to go more in depth on why you would approach an agent, like what's the point, what are you trying to accomplish when you're talking to them. And I'll even give you a real-life example of me talking to a real estate agent and having a conversation so you know what the goal is, what we're trying to get done, and how being transparent is the key to working with agents and really with anyone. So what exactly do you say to real estate agents? I told you at the beginning of this video that I would give you a word-for-word script, a process to do it. So all you have to do is comment in the section below, comment saying, Nate, hook me up with that script. I usually just give this to people that work in my Painless Wholesaling Club or my mentorship, but I'll hook you up with the script. Now what this script does is it shows you exactly how to go through the sales process with an agent where you're calling about a property they have and you're making an offer on it. Now the right The right way to do this in the painless wholesaling method, the painless way to do it is you have a buyer that you already know that is buying in that area. So when you make offers, you already kind of understand what they're looking for and what they'll pay. So you're not just going out there blind talking to an agent. So when I talk to agents, I call and I know, hey, I have a buyer that's going to buy this property. I know what he wants. So when I talk to an agent, I say, hey, I'm working, I'm calling you because I see that you have a property that I'd be interested in making an offer on. And, uh, it looks like it would be a good flip opportunity. I flip properties in this area. I work with other buyers as well. So I was wondering, you know, would this seller be open to a cash offer or are they just looking for the obviously the highest and best, or do they want to sell this, you know, quickly? And I'm very transparent with the agents and telling them what I'm doing because as an investor, I need to get the property at a price that makes sense and I cannot pay retail as an investor. So I tell them upfront what my purpose and like what I'm trying to do. Now, immediately most agents like can tell that, you know, they're not going to get a full price offer without even me making an offer just for me setting the stage and telling you what I'm doing. So it's important to start off with that. In the process of my script that you guys are gonna— I'm gonna send you if you comment below. It's gonna walk you through that. I also ask agents to represent me so they are motivated to get the deal done with me and have their seller that they're representing sign the contract. Because instead of getting 3% for listing it, if they represent me, they'll also get 3% on the buyer's side and makes double the commission. 6— they'll make 6% or whatever the seller's willing to pay them. It might be like 2.5% or whatever. That's— that all comes into commissions. Not a big deal. But anyway, what to say to agents? Well, just be transparent. Tell them what you're trying to You're trying to find a flip that you can do with you or your team and just be transparent and let them know that your goal is to find a good deal. If they're like, yeah, this seller is not looking for a cash buyer, make an offer anyway. Just say, hey, I totally get it. I'd like to make an offer anyway. Would you be willing to present this to the seller? Now, that's, that's what you would say to an agent. So why would you approach an agent? Well, if you're trying to get a deal, then that's why you would approach an agent. But there's another reason why you would approach an agent is you're trying to develop relationships so you can find buyers that they work with. Work with. So there's two ways to work with agents. Either you're making offers on deals they have, or you're using their network and their experience to find, dispo, or sell your deals that you have under contract to their buyers. So again, there's two ways. You're trying to get deals from them, or you're trying to use their network for them to help you sell a deal that you have under contract. I use agents in both those ways. So I actually have a real-life example of me talking to a real estate agent and how to approach them and how to network with them and how being transparent is the best way to go about working with agents. So they know exactly what you're doing. Now, a lot of wholesalers, they tiptoe around saying that they wholesale. I tell agents up front, hey, I wholesale, I fix and flip, I do it all. You know, if they ask— I usually don't bring it up up front just because it doesn't need to be brought up. But if they ask, hey, do you wholesale? Be like, yeah, of course, who doesn't wholesale? Everybody does it. Because I mean, I'm a flip— I fix and flip, I wholesale, I do it all. If this is your first deal, if you've never done a deal, you can say, yeah, I wholesale and I'm trying to get into fix and flip. That's why I'm calling you. And they say, hey, have you ever flipped a property? No, I haven't. But I actually work with some hedge funds and I work with some other buyers and I bring them So, and if they're like, hey, I don't want to work with you, well, that's okay, you know, on to the next one. But it's best if instead of lying and just trying to be shady, just be straight about it. That's, that's how I am. But like I said, there's a real-life example that I have of me talking to agents so you can see how this process works. But before I get into that, I want to invite you to my masterclass by going to painlesswholesaling.com and signing up and registering for free. You can go to my masterclass where I literally teach you live how to do The painless wholesaling process of literally going and getting a deal with zero to no marketing spend and closing it. We're doing deals all the time without spending money, and we're going to show you exactly how in this masterclass. So, so join and love to see you there. But let's dive right into this real-life example, because again, I want to show you all how to approach an agent so you can start making money from on-market deals.

So I was making an offer.

I want to show everyone here really quick on how to talk to agents.

Because a lot of you might struggle with knowing how to talk to an agent. So listen to this.

Hi, this is Jay.

Hey, Jay, how are you? I'm calling about your listing on Chastain Lakes.

This is me making an offer.

Do you have a couple of minutes to chat or are you busy?

Sure. Go ahead.

Yeah.

So I'm just giving a call about the property.

I'm an investor out of Salt Lake City, Utah, but I've recently kind of backed out of my market and I'm coming into Atlanta. I grew up here, close to this area.

Yeah, I just saw your listing.

I looked for some properties in the area that looked like it needed a little bit of work. I'm either looking to flip them or rent them, but, uh, I just wanted to call you and kind of get some more information on the property. I see the pictures. It looks like it needs some work, but is that kind of— is that kind of the situation? It's being sold as is, or—

yep.

Okay.

That's exactly it. And he, um, you know, the owner and his wife, when they come back in town, they stay in it. They lived in it, but they just don't have the time to work on it. So they're like, you know, at this point we're just going to keep it on the market. If somebody buys it, great. If not, then we'll just keep using it as a place to come and park when we're here doing stuff. And so for them, it's, it's more convenient. But yeah, they're like, if we can sell it, that'd be obviously the best thing for us.

So as an investor, I mean, we always— we're always looking for good deals. They've probably gotten some lower offers and just saying, hey, no, we're just— we're just going to sell it if we get the right offer, right?

That's exactly right.

Got it. Yeah. So I'm new to the area. I'm unrepresented. I don't have an agent that I work with yet. Would you— if we were to work something out, would you be able to represent me or would—

Oh, absolutely.

Okay.

Yeah. And then I can drop the price a little bit more. Concessions as well.

Okay.

Is that what you do instead of double dipping? You just take off the price and not take the buyer's fee, or do you— what do you do?

I make it so everybody's happy.

Okay, great.

There's no one thing, right? So everybody's a little bit different.

Yeah, yeah.

So for me, either way, if you take both sides or you just bring it down a little bit, it's all good for me, right?

So yeah, or I'll convince them to put more in concessions.

Yes.

Right. So yeah, of course. Yeah. Anyway, so yeah, we can say if it's going to take $25,000 or $30,000 of material and stuff to do it, then just ask him to pay $25,000 or $30,000 toward the purchase at the end.

And they'd be, they'd be potentially willing to do that.

It's a net number to them, right? So that's true between that and commissions and everything else. So we can package it however the heck we want.

Gotcha.

That'd be the cleanest way to do it is just say, keep everything the same, but let's, let's see if he'll, you know, give you guys a kickback for repairs and renovations.

Gotcha.

So I'm taking a look at the property.

I've done a little research in the area, not like too much, but the after repair value, is it still with the market the way it is, is it still around like $520,000, $550,000 if we repaired this all the way, or is that, is that too high?

No, you actually nailed it. How do you, what do you use to pull the evaluation?

I use a service. I don't know if you heard of it.

It's called Batch Leads. It's like these softwares that you can run comps pretty easily and like look for—

Oh yeah, so wholesalers use that.

Yeah.

Yeah.

So I do both.

I wholesale and I fix and flip. And that's kind of why I'm leaving Utah. It's just, it's just getting so, it's getting competitive and not a lot of buyers are buying right now. So I'm like, you know what, I need to go to go to Atlanta, try something different. And I've always wanted to invest in Atlanta too. So there you go.

Now the stuff in Atlanta, if it's fixed up, it sells, right? So it's just the one.

Bam. So check it out. I told them exactly that I'm a wholesaler, right?

Like, no biggie.

Just if you say with confidence, there's nothing to hide.

Software that you can run comps pretty easily and like look for wholesalers.

Yeah.

So I do both.

I wholesale and I fix and flip. And that's kind of why I'm leaving Utah. It's just getting so—

anyway, so I told them straight up. And that's the thing, everyone. You can say, yeah, I I wholesale and I fix and flip. I do it all. Why wouldn't you?

Let me tell you guys something really quick that are just getting started that don't know.

If you are an investor, if you're a fix and flipper and you don't wholesale, you're dumb. You're an idiot because you can't— as a flipper, you can't take on every property. You can't. If a wholesaler brings you a deal that is a great deal, but you can't flip because you're overleveraged, you don't have any more money to flip, you're just going to let that go? No, you're going to say, yeah, I'll take that deal and then you're going to wholesale it. There's a flipper in my market. He did 92 deals last year and out of the 92, 60 were wholesale deals. And he's one guy.

He's been flipping for 15 years. He's got—

it's one dude and he's got 3 VAs. He runs a more profitable wholesaling company than most people because he's a flipper that people know and he's willing to take those deals and wholesale.

Right.

So that's, that's honestly why I got the model I'm doing right now is just painless wholesaling.

Know your—

be a buyer and know your buyers. People will bring you deals and do deals when you can and when you want to flip and then wholesale the rest. But that's why you got to do it the reverse way or the— I would say the painless way, the right way. But if you just go and look for deals nonstop, nonstop, you're going to spend a lot of money, a lot of time. And that's why Privy's money, because Privy will show you exactly where the deals are in your area.

And so you don't have to just go look, look, look, look, look and spend all your money on marketing, all that stuff.

Right?

I love it, man. I think it's so funny. So you and I, we haven't really, like, you know, we've been doing our, our thing separately, you know, in our own market. So we haven't really gotten to see too much of what each other is doing. And it's funny because we're both talking about the same exact thing. I know today, that was a really big point I brought up too. I wasn't talking with agents. I was talking with title companies. I was talking with title companies, a guy from New Western, and then a couple of cash buyers. And the one consistent pattern And the one thing I explained to the people watching was I was like, guys, you know, in my conversation, I'm not trying to like posture and make it sound like, oh, I'm this big dude doing all these deals. Like, I'm calling people in Florida with a New York phone number and I live in Danbury, Connecticut. Right. And it's like, I'm not lying to anybody. I'm not making anything up. I'm just being completely honest and transparent of like, hey, this is what I'm trying to do. This is what I'm looking for. You know, are you able to help me out? And guys, I'd say that's the number one thing that I'm we talk about is be honest, you know, go about the business in an ethical way. And the funny thing is when you do that, right, and you kind of put all that other stuff aside and behind you, you'll find you, you get a lot more success, right? You'll get a lot further with when talking to people, you know. Be willing to just be honest and vulnerable with people. Everybody doesn't have to pretend like, you know, we're, we're, uh, some big company.

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