Cold Call Like A PRO | Wholesale Real Estate

I believe the best way to get into wholesaling real estate is to start by cold calling. It's cheap, it's effective, and you will learn a lot of invaluable skills along the way. Now, cold calling will allow you to get in touch with property owners from all over the country without requiring you to ever leave your house. The only downside is that sometimes you're going to get people who are upset with you, and they might even call you some mean names. But that's the very worst thing that can happen. Sticks and stones may break my bones, but words will never hurt me. The upside is that you could find somebody who desperately wants to sell their house, and that opportunity can make you tens of thousands of dollars. In this video, I'm going to give you the exact blueprint I use in my company to use cold calling to generate motivated leads. Every single call can be broken down into 4 main sections: the introduction, the purpose, the interview, and then the conclusion. The introduction is going to be all about explaining who you are and making sure you have the right person on the phone. It is going to be the most important part of the conversation by far because the introduction sets the tone. And if you don't do it right, you're going to have a lot of people who will hang up on you or bully you off the phone. Now, what you say here isn't all that important. Rather, it's how you say it. Every single time somebody picks up the phone, you need to sound excited and you need to be speaking in the same tonality you are when you're speaking to close friends. The way I start my cold calls is like this.

Hello?

Hey, John, it's Tyson. I'm not sure if you can help me out, but I've actually been trying to find the owner of the property Is that you over on 123 Main Street?

Uh, yeah, this is me.

Now I want you to notice two things here. Number one is that when I say the person's name, I act like I already know them, like we're old friends. The second thing is the lost puppy dog effect. I'm acting pretty incompetent to try and pull out people's natural empathetic instincts to help people. When you do this, people are more likely to help you and give you the information that you need. At this point, we're going to move into the purpose. This is where we're going to explain to them the entire reason for the call.

Okay, great. Hey, listen, my company is buying houses in that area and I wanted to see if you would consider selling.

Now from here, they are going to give either a negative answer, a neutral answer, or a positive answer. If they give a negative answer, something like, I'm not interested, that's not my property, or you have the wrong number, here's what you're going to say.

Uh, nah, sorry, man. I don't want to sell my house right now.

Oh, gotcha. Well, hey, listen, dude, I appreciate your time.

Time. Hope you have a wonderful day.

Okay.

And then when you hang up, you move on to the next person. Simple as that. However, if they give you a neutral answer, this will sound something like, make me an offer, or how much will you pay, or I want $10 million for it, or I'll sell it for the right price. Here's how you'll handle that.

Yeah, I'll sell my property for the right price. What's your offer?

So I actually don't know how much we can offer you yet. I'm just here to gather some information to see if we're "if you're even open to selling?" Now, when you ask that, they're either gonna give you a positive or negative answer.

If they give you a negative answer, repeat the same process we talked about before. Thank them for their time and move on. Now, hopefully they will give you a positive answer. This is gonna sound something like, "Yes," or, "Yeah, I'm interested," or, "Yeah, I'd maybe sell," or, "Yeah, I wanna sell this house now." Here's how you will handle it to transition into the next part of the conversation, and this is gonna be the interview portion of the call.

[Speaker:JASON] Yeah, I've been looking to sell the house.

Perfect.

I just need to ask you a few basic questions and I'll be able to get you an offer.

Is that okay?

Yeah, it's okay.

Awesome. So this property is not listed with a realtor, is it?

No, no, it's not.

Are you currently living in the property or is it rented out?

Is the condition of the property brand new, fair, poor, or scary?

Now, if the property is listed with a realtor, let them know you will contact their realtor directly through the MLS to put in your offer.

You can then end the call and mark them as not an opportunity.

If it's tenant occupied, make sure to ask them if they are month to month or if they are on a lease. Also, get the monthly rental amount. It doesn't really matter what they say here. We're just getting information for later when we're comping the property. So if they have told you that they wanted to sell and they took the time to answer these questions, no matter what their answers are, I would consider this person a lead. From here, you will move to the conclusion. Now, this is going to depend on if you are making the cold calls yourself or if you're having somebody else make the cold calls for you. If you're making the cold calls yourself, I would then say something like this: Hey, great.

Listen, I appreciate it, John. The rest of this call should take about 10 to 15 minutes. Just need to gather some more specific details about the property and your situation.

And at the end of the call, one of two things is going to happen.

One being our company is interested in buying your property and we're going to give you a cash offer. Or two, it doesn't fit our buying criteria and I'll be able to give you some options that will better fit your needs.

Sound good? At this point, you would then start to process the lead by identifying their motivation, learn more about the property condition, address any potential roadblocks, determine their asking price, and get a commitment. Then at that point, it would be time to make them an offer and get the deal closed. If you would like to learn in depth on how I do all of that, you should consider checking out Wholesaling 101. Wholesaling 101 is a complete guide on how to get your first wholesale deal. It includes step-by-step tutorials on every part of the process, as well as weekly calls with me to make sure you're on the right track. You can learn more by clicking the link below in the description. Now, if you are having somebody else make cold calls for you, maybe an employee or VA, you would have them wrap up the call by saying something like, "Hey, I appreciate all the information.

I'm going to pass this info along to a home buying specialist who's going to be able to use it to make you an offer. They will be calling you soon." Can I go ahead and confirm that this is the best phone number to reach you at? And also, what is a good email for them to send the offer to?

Cool. Now you're going to have them send you the information and it's your job to get them on the phone as soon as possible to get them closed. Guys, this is the exact formula my team has followed that has generated us millions of dollars in assignment fees. It's very simple and there's no reason to overcomplicate it. Now it's your job to take this info and put it into action. But before you do, I want to leave you with one last thought, and that is that the master of anything was once a beginner. So when you first get started, you're going to mess up. You will stumble over your words. You will forget what to say. And you know what? It might be embarrassing, but it literally does not matter. You need to practice and you will eventually improve. Take me for example. I used to be the world's worst cold caller ever.

I was so nervous and I was so scared and all my calls sucked.

But each and every day I showed up and I tried. And each day I got a tiny bit better. And then eventually I became good at it. And you can too. All you have to do is follow these steps. So good luck out there.

And as always, thank you for watching.