The Secret to Mastering Real Estate Agent Enrollment

The Secret to Mastering Real Estate Agent Enrollment

Picture this: you wake up in the morning, pour a cup of coffee and check your email. You’ve got messages from friends, maybe a note or two about an upcoming deal, some junk mail… Now imagine that you’ve also got dozens of high-quality leads from expert real estate agents in your area. They’re just turning them over, handling all the heavy lifting, pre-qualifying and preliminary back-and-forth and turning these rock-solid leads over to you. Believe it or not, you aren’t dreaming. You’re simply on your way to mastering real estate agent enrollment—which is exactly what we’re going to tackle in this post.

We are excited to show you why real estate agent enrollment is the most talked-about topic in real estate investing right now. All the gurus, coaches and podcasters are bombarding investors with tips, tricks and must-tries, charging tons of money for their insights and expertise. It makes sense—what’s better than getting free leads on autopilot, and having them land in your inbox morning after morning? The best way to do that is, hands down, with agent enrollment.

Now the big question: how do you get there? How do you wake up to those not just warm but full-on hot leads from real estate agents day after day? The old guard says bandit signs, direct mail and other traditional marketing techniques—all good approaches but, to be honest, they’re probably not the best use of your time.

What is Real Estate Agent Enrollment?

Agent enrollment is, simply, engaging and building a relationship with the real estate agents in your market. As a real estate investor, you need properties. And who wants to sell you their properties? Motivated sellers. But who knows motivated sellers—and lots of them? Real estate agents.

Real estate agents are in the market, have boots on the ground and speak with multiple sellers on a daily basis. If there’s a motivated seller to be had, chances are they’ve already sniffed them out. Your job is to convince those agents to send you those leads.

Here is the tricky part – real estate agents are paid on commission so, naturally, they want their deals to be as big as possible. Real estate investors are motivated by price—they want low-cost properties. Do you see the immediate disconnect between investors and agents? While agents would rather their deals be larger, if they can quickly turn properties, that’s a huge incentive for them to work with an investor.

Think like a Real Estate Agent.

The average agent’s commission is 3%. The difference between selling a house for $80,000 and $100,000 is small. If the house is sold for $100,000, 3% would be $3,000.

If that same house sells for $80,000, that real estate agent would make $2,400. Think about their motivations and their business. Do you think they would rather sell a house today for $80,000 and make a $2,400 commission, or wait for weeks (or even months) to sell that same house for $20,000 more just to make another $600?

That $20,000 difference is big for the seller because it goes right into their pocket, but to the agent it’s only $600. You can clearly start to see how we as real estate investors can incentivize agents to work with us.

Your Real Estate Investor Edge

Real estate investors can be a gold mine for agents because of the potential for serious volume. But that doesn’t mean local real estate agents are going to be lining up around the block to send you leads. So how do you convince them to work with YOU, specifically, and not all the other real estate investors clamoring for their leads?

In short, you do it by adding value to the agent’s business. The best way to add value is through CASH and TIME – offer the agent a cash close – no jumping through hoops, no banks, and the guarantee of a fast, seamless transaction every single time.

That alone is an enormous asset to real estate agents. To be able to bring their clients a qualified buyer who wants a quick close, one who pays cash and closing costs, and can structure the deal with a few seller-friendly add-ons is a huge win. If agents know you have the potential to sell their properties fast without any bumps in the road, they will come to you.

The next step is to implement your agent enrollment process in a big way with this 4 step solution.

1. Build Your List of Agents

Use the MLS to start building your list of agents. Run a search for all transactions in the last 12 months and export it right into an Excel file. This should provide you with the seller’s agent and buyer’s agent names, phone numbers and emails. Upload this list to an email service provider like MailChimp or Aweber and boom—you’ve got an agent list.

If you don’t have access to the MLS, you can use Google to find agents, buy a list, or form a partnership with an agent in your area so you can get access to the MLS.

This is one of the most important tools you’ll have as a real estate investor. You’re going to use this list to contact agents on a weekly basis, ideally by phone (initially) and email (every week). So really focus on this first step and make sure your list is as strong as it can be.

2. Deliver Your Elevator Pitch

Your list is in place—so now it’s time to pick up the phone and start calling agents. With that being said, you can’t just call without a plan in place. You need to be prepared with a script that lets agents know who you are, why you’re calling, how you can provide value to their business, and what they need to do next. This all needs be done in the first 10 to 15 seconds of the phone call.

The best part? If you deliver this script correctly, it works 99% of the time—really. But if you try and fly by the seat of your pants with no real plan in place, agents won’t take you seriously or, worse, will hang up on you. Know exactly what to say that will get agents to send their best deals your way.

3. Handle Any Objections

Your elevator pitch will no doubt, get agents interested in what you have to offer—so if you haven’t already studied the guides from our labs, do it now.

Even though this script is solid, real estate agents will definitely have some questions for you to make sure that you’re worth their time. Keep in mind lots of investors are probably coming their way, trying to get their leads, too. So you need to make sure you really stand out and that you can roll with any objections that come your way. Some examples?

If you’re licensed as an agent or you know other agents and I send you a deal, why wouldn’t you just do the deal yourself?

“The reason I wouldn’t just do the deal myself is I’m looking for more inventory—I want to do more deals. I’m looking for more business and repeated business. I want you to get paid because that means you’re sending me deals. Experts like yourself won’t keep sending me deals if I burn bridges.”.

Where do you go? What do you buy? What condition are you looking for?

“Anywhere”, “Yes”, and “Anything”.

Here’s a simple tip:

Just say yes to everything. It’s a simple conversation. Yes, yes, YES. “I’ll go anywhere if it’s a good deal, I work with any price range and any condition.” Get the agent to send you the deal so you can do your due diligence.

4. Build a Feedback Loop (aka Get Great Deals)

In the beginning, agents will probably send you subpar deals. If you don’t respond to their outreach, these valuable contacts will stop sending you deals. And that’s no good.

Since you don’t want to discourage agents, it’s extremely important to provide feedback to every agent, every time. Let them know why it is/isn’t a good deal for you, so they:

1) see that you’re serious and
2) can make sure that the deals they send your way syncs with your investing strategy. Staying in constant communication will also keep agents engaged—always a plus. This builds the relationship and makes them feel that all-important connection to you, which will ensure they send more deals your way. Everyone wins.

When a real estate agent helps you close a great deal, shout it from the rooftops. Make sure every single agent on your list sees how good—and lucrative—it is to work with you. Send a quick note that says something like:

Do you see how simple real estate agent enrollment can be? Now imagine the possibilities—imagine the best real estate agents in your market sending you the best deals every single day. No more pounding the pavement, posting flyers, or sending direct mail that goes nowhere and costs a fortune. With these tips, you’ll be well on your way to getting amazing deals emailed directly to you for free.

Real Estate Seller Leads Guide Part 3: The Formula for Successful Real Estate Buyer Lead Scripts

Real Estate Seller Leads Guide Part 3: The Formula for Successful Real Estate Buyer Lead Scripts

You’ve found your motivated sellers, and you know how to organize your seller leads. Now it’s time to write the best real estate buyer lead scripts to maximize the efficiency of your calls.

ESTABLISH RAPPORT

Customer relationships are the lifeblood of any sellers’ career. The ability to attract clients, build rapport, and start sales conversations ultimately determines the level of success.

  • Get their Name first. Start the call by asking for their name and using their name throughout the conversation.
  • Say “Thank You”. Giving a “thank you” goes a really long way. It’s important to always thank the homeowner for taking the time to call you.
  • Set Expectations. Allow them to feel comfortable by letting them know that it’s a very simple process, and all you need to do is gather some basic information and assure them that you won’t take up too much of their time.
  • Introduce Yourself. You want to let them know who you are and give them a description of your company and the benefits of working with you.
    • You’re a real estate investment company and purchase many types of properties in many different situations
    • You’ll purchase the property as-is and can close whenever is best for seller
    • You can make an offer within 48 hours and pay all cash (so there’s no financing issues)
    • No real estate agent commissions or closing costs

Download the seller leads rapport building handout – We’ve compiled additional ways that you can frame your questions and the different types of verbiage you can use during your conversation with a potential seller.

DELIVER YOUR PITCH

Sales Pitch 1: 

  • “I appreciate you calling in [Seller First Name].
  • We are a real estate solutions company here in [Your Market].
  • We are currently looking to purchase one more property this month.
  • We pay all cash, can close in a matter of days, and the best part is there aren’t any additional fees or cost on your end. The price we agree on is the money you get!
  • I’d like to get a little bit additional information about your property and can usually make you an offer within 24 hours.”

Sales Pitch 2:

  • Thanks so much for calling, as I mentioned my name is [your name].
  • Who do I have the pleasure of speaking with today? Okay, thank you [seller name].
  • In case we get disconnected, is this number [state phone number] the best number to use to reach you?

Then, once they give their number to you, you say:

  • “Okay great! Let me tell you a little bit more about our company and how we operate. Basically, we’re a local real estate solutions company here in [your market], and we are currently looking to purchase one more property this month.
  • We pay all cash, can close in a matter of days, and the best part is there aren’t any additional fees or cost on your end. The price we agree on is the money you get!”

Make the seller feel significant. Make the seller feel important. “Mom and Pops” are way more appealing to work with than a big company trying to buy your house. Telling them that you’re looking for one more property will make them feel better than you saying you want to buy the whole town.

Next, you want to set the agenda:

  • “So on this call, I’d like to just get some general information from you about your house.
  • Most importantly, we want to talk about your situation and your goals. I have several questions to ask you to determine if this is a right fit for both of us, so the call will take about 10–15 minutes, ok?
  • I’m going to take a few notes as well to ensure I accurately gather the information so if you hear a bit of a pause, I’m just writing. Sound good?”
OVERCOME YOUR OBJECTIONS

Even if you do everything PERFECTLY when running through your real estate buyer lead scripts, you will still get push back from time to time. So what do you do when a seller comes back at you with an objection? Answer them concisely and with confidence and authority.

HOW DID YOU GET MY INFORMATION?

  • I’m an investor, [SELLER NAME], so I’m constantly looking for additional properties that fit my needs.
  • There is also a lot of information available via public record.
  • We are simply looking for individuals who have properties they would like to sell.

YOU HAVEN’T SEEN MY HOME YET?

  • No, [SELLER NAME], I haven’t been inside your home yet.
  • I do know the area well as we work right here in [MARKET].
  • If I can spend five to 10 minutes with you I can probably get enough information to make you an offer in 24-48 hours.

I’M JUST LOOKING FOR YOU TO MAKE AN OFFER AND I’LL DECIDE IF I’M INTERESTED

  • I would love to make you an offer.
  • Before I can give you any range of numbers, I need to spend a couple minutes with you to get some additional information. Once I have some basic information, I can perform my due diligence and have an offer within 24-48 hours.

I’M NOT GIVING YOU A PRICE, MAKE ME AN OFFER

  • I understand you are interested in what we can offer for your property.
  • Please know we are professionals and will be evaluating a large number of properties every day.
  • We need to have an idea if we are in the same ballpark or not so that we don’t waste any of your or our time.

A REAL ESTATE AGENT TOLD ME THAT I COULD GET A LOT MORE THAN WHAT YOU OFFERED

  • I’m not surprised you were told that and I understand your concern.
  • I know a lot of sellers meet with realtors who come in and make really big promises.
  • Remember, realtors will often tell you what you’re looking to hear to simply secure a listing. If you look closely at our offer as compared to holding onto your property, we aren’t that far off. When you factor in mortgage payments, taxes, hefty commissions and time, we are much stronger, don’t you agree?

HOW CAN YOU CLOSE QUICKLY?

  • As cash buyers, we can perform our due diligence and close as quickly as title will allow. We move very quickly if that’s what you prefer, but definitely understand if you need additional time to move out.
CLOSE THE CALL

Now that you’ve filled out your seller lead sheet, you should have a good sense what this person’s motivation is and if they are or aren’t a motivated seller. If they’re motivated, the next step is to close the call by talking dollars and cents.

FEEL OUT THE SELLER’S PRICE POINT

Remember, your goal is to make the seller feel comfortable and have a normal, natural, flowing conversation.

  • “While I can’t guarantee a price and am not making a formal offer, would you be willing to accept an offer between [DOLLAR AMOUNT RANGE]?”
  • OR “I still need to see the property and do a full evaluation so you can’t hold me to this, but if I could make an offer between [DOLLAR AMOUNT RANGE], is that something you’d be willing to consider?”

CLOSE A CALL WITHOUT AN OFFER

  • “If we could come to terms on a price to sell your property, are you in a position to make a decision when we meet?”
  • OR: “I think I have the proper information at this point and it sounds like we’re in the right range to set up an appointment and take a closer look. Let’s set a time to meet and come up with something that works for both of us.”

If you have to make calls as part of your sales process either to set appointments or to find potential clients, this formula for successful real estate buyer lead scripts can help you establish immediate rapport.

SELLER WANTS TO MOVE FORWARD WITH THE APPOINTMENT

If the client DOES want to move ahead and is eager to confirm the appointment:

  • “I think I have the proper information at this point and it sounds like we’re in the right range to set up an appointment and take a closer look.
  • Let’s set a time to meet and come up with something that works for both of us.”

Then before you hang up, lock down the time:

  • It sounds like I have enough information to schedule a time to look at the property. Does [TIME A]or [TIME B] work for you?”
  • OR: “What’s your schedule like [TODAY, TOMORROW, ETC]?
  • OR: “I’ll be in the area [TODAY, TOMORROW, ETC]. Would you be able to meet then?”

The Ultimate Guide to Managing Real Estate Seller Leads: A Series

The Ultimate Guide to Managing Real Estate Seller Leads: A Series

At Rocket Station, our focus is simple: we want to help real estate investors make the most of their businesses with simple solutions and services that they can tap into right now.

Over this series, we will delve right into the tips, tricks, and must-tries that when leveraged in their entirety, will ensure you’re taking a smart, strategic approach to managing each of the real estate seller leads that cross your desk. Do that, and you’ll maximize your time and your talent—the two most valuable weapons in your real estate investing arsenal.

We recommend reading this series in its entirety before you start implementing these systems. Having a “big picture” outlook will help fuel your success in each step of the seller lead management process. Once you do take action, you should do everything. This system works because each of the steps builds on the next. Don’t cherry pick the things you feel most comfortable with, or the things that you think you can complete fastest. Work through each step in order, and you will be set up for success.

The benefits of this process are clear: by spending less time with sellers who are less likely to drive a great deal for your business, you’ll have more time to spend on motivated sellers who are likely to get it done.

That’s the secret to success for countless real estate investors in every niche, every market and every stage of their career. Follow the steps in this series to ensure you’re cutting through the clutter of your real estate seller leads and creating the best possible cash flow for your real estate investing business.

Ultimate Guide 2A: Using Craigslist to find Cash Buyers in Real Estate

Ultimate Guide 2A: Using Craigslist to find Cash Buyers in Real Estate

Ready to start building your cash buyer list? Thanks to the wealth of online resources, the groundwork for building a powerhouse buyer list is easier than ever. By applying a simple vetting process, you’ll be able to sniff out the best of the bunch – the buyers who are the best foundation for your business.

Where to find Cash Buyers
How to use Craigslist to Build a Buyers List

Craigslist is an outstanding way to build a buyers list for little or no cost. It’s free to advertise your services on craigslist, but that can be a double edged sword. Because it’s free, anyone & everyone can be quick to plunk down their latest listings and investment opportunities on the site.

Your goal in advertising on Craigslist is to make your ads and offers stand out. In my experience, that means not focusing on the actual properties in your immediate purview and, instead, on some peripheral reasons to get in touch with your business.

Ready to start building your cash buyer list? Thanks to the wealth of online resources, laying the groundwork for a powerhouse buyer list is easier than ever.

By applying a simple vetting process, you’ll be able to sniff out the best of the bunch—the buyers who are the perfect foundation for your business. Craigslist is an outstanding way to build a buyers list for little to no cost. Let’s take a look at a number of ways to tap these all-encompassing classifieds.

Step 1: Advertise your Business and Services
It’s free to advertise your services on Craigslist, but that can be a double-edged sword.

Because it’s free anyone (and everyone…) is quick to plunk down their latest listings and investment opportunities on the site. And that means there is lots of stuff—for better or for worse.

Your goal in advertising on Craigslist is to make your ads and offers stand out. In my experience, that means not focusing on the actual properties in your immediate purview and, instead, on some peripheral reasons to get in touch with your business.

Here are some ad examples that I’ve used to drive tons of buyer leads on Craigslist.

– Investors: Be First To Know! REOs CHEAP. Free Report
www.CheapREOHouses.com
– FREE Report: 3 Ways To “Friend” The Top Agents, Attorneys, And CPAs In Town So You Can Get All The Good Deals Before Your Competition.
www.CheapREOHouses.com
– Landlords: Want Big Cash Flow Properties? Get The Best Deals! Free Report.
www.GoodDealFor.me
– Investors: Free Report Reveals Hottest Cash Flow Properties
www.GoodDealFor.me
– Steal Waterfront Property! Best Deals. Free Report:
WaterFrontHomesFor.me
– Best Deals On Waterfront! Free Report Reveals How:
WaterFrontHomesFor.me
– Luxury Homes at Non-Luxury Prices! Free Report:
www.PerfectHome.me
– Free Report: “4 Secrets To Negotiating A Killer Deal In The Luxury Home Market”
www.PerfectHome.me

While each of these ads target different audiences, they each follow a similar template and focus. Here are the few things to remember.

BE CONCISE
There’s a lot to see on Craigslist and, often, prospective buyers don’t have the time to read a novel about you, your business and your property. Be short, direct and have a clear next step—i.e. what do you want the person to do next?

BENEFIT-FOCUSED
To answer the vital question all visitors seek: “What’s in it for me”. Be the first to know about REOs, non-luxury prices for luxury properties, get free reports, hear about the best deals fast…you get the idea.

Show readers what the “get” is by engaging with your business, and show them ASAP. That’s more likely to entice them to take that next step with you.

STRAIGHTFORWARD CALL-TO-ACTIONS
Motivate your readers to take real steps.

I want more…now what? Is that question easy to answer by reading your classified ad?

In these examples, the answer is a big YES. I want them to click on the link that I’ve clearly included in the copy.

It’s not confusing, it’s not multistep, it’s not complicated. Just click. That’s it.

NO WEBSITE? NO SWEAT! If your website isn’t set up yet, you can always direct people to a social media page, email address or phone number. Just be sure it’s easy and it’s direct. The more steps you make people take, the less likely they are to engage.

Step 2: Leverage Smart Keyword Searches.

Like Google, Craigslist has a powerful keyword search tool that enables you to find resources quickly. While it’s not perfect, it’s easier than clicking through hundreds of thousands of classifieds, hoping to stumble on the right buyer. When you search Craigslist for buyers, you want to put yourself in that buyer’s shoes. What kinds of ads would they be posting? What keywords and phrases would they use to advertise their services? And how can you use those potential search terms to find these buyers quickly and easily?

Many rehabbers and landlords post on Craigslist looking for homeowners who need or want to sell ASAP. Their property could be distressed, they could be completely underwater on their loan or they could have a new home on the hook with the contingency that they sell this one first. Either way, these sellers want out—and real estate investors are always on the lookout for those kinds of deals.

Are you wondering how that impacts you and your buyer-building journey? Think about it—those buyers post looking for sellers. By scanning their ads, you can select which ones are wholesalers and which ones are cash buyers ready to go. Collect their info or reach out and make contact (more on that in a minute) and start qualifying them. Chances are, these are rehabbers, landlords or other real estate investors looking for a quick cash deal. And you just might know someone who’s got a deal or two in the works.

But, again, there are seemingly endless Craigslist ads floating around, especially in the real estate category. So, to cut through the clutter, start with a quick search.

You’ll perfect your own keyword list but, in the meantime, start here:

Step 3: Automate and Activate Using IFTTT.

By now, we’ve established that without some smart system in place, you’re going to be spending a lot of time poring through contacts and opportunities on Craigslist.

Ads and keyword searches are a good place to start, but there’s another solid approach to perusing Craigslist—If This Then That, or IFTTT for short. This automated systems prompts you to select pre-made “recipes” or create custom “tasks” for what you’re looking for on Craigslist (or eBay, Woot, Amazon and a host of other massive sites), then alerts you when it spots something that syncs.

To start, create a free account and select the Craigslist alert option. You’ll then be prompted to turn on their task – agree to it. From here, you’ll be prompted to configure your IFTTT search.

Now, good news, this configuration couldn’t be easier. Simply:

With these three methods in place, you won’t miss a thing and are on your way to properly using craigslist to find cash buyers. If a quality real estate investor is somewhere on Craigslist, your powerhouse searching will pop them to the top. Again, as you go, keep collecting contact info and key points in your preliminary buyer list. We’ll refine it, but for now, bigger is better.

Next, we will show you how to do a keyword search.

Ultimate Guide 2B: Understanding The Best Keywords to Find Cash Buyers

Ultimate Guide 2B: Understanding The Best Keywords to Find Cash Buyers

There are more than 40,000 online searches performed per second. In the time it took you to read that sentence, I’d guess about 100,000 searches happened. This presents a massive business opportunity for you, if you know how to tap into the power of keywords and keyword research. You’re in luck – we have already rounded up the best google keywords to find cash buyers.

To give you some background, a keyword is a word or phrase that defines a webpage. For example, this blog articles keyword is “find cash buyers” There are different types of real estate keywords, but we recommend searching hyperlocal terms. An example of a hyperlocal term could be “buy house for cash + location of property”. After all, you are looking for a specialist in your area, not a generalist from some national company who hasn’t even visited your town.

When turning to Google to build your buyers list, you want to be sure you are looking at the most relevant content. To avoid spending hours digging through search results, you’ll want to do a little research and lean on your keyword handout.

Download this Google Buyer Keywords List to get the top 50 fresh keywords in real estate that Google will love.

Similarly to the Craigslist search process, [link to craigslist blog] we want to help you cut through the clutter and get right to the search results you want — in other words, potential cash buyers to add to your buyer list. Your results will yield plenty of options – all that’s left for you to do is go through those willing to buy in cash, and call them up.

Start Your Research
Select a keyword/phrase from the handout and input it into the Google search bar. Be sure to look at both the organic search results and the paid ads to ensure you’re scooping up all relevant contacts.

Select Your Links
Scan through the ads and organic results and click on links that seem relevant. A quick browse of that investor’s site should give you a sense of whether or not this person could be a good addition to your buyer list. If things look good, add them to your grid and move on to the next search or search result.

Ultimate Guide 2D: Using LinkedIn to Find Real Estate Cash Buyers

Ultimate Guide 2D: Using LinkedIn to Find Real Estate Cash Buyers

LinkedIn searches can produce a treasure trove of leads for your real estate investing business, if done right. By utilizing LinkedIn to find real estate cash buyers, you can join groups that will connect you to other relevant investors. When you connect with a group, you can send messages to get information about who might be buying properties, and make connections to those that are buying. Before you know it, you could build a network of buyers, or connect with other wholesalers to partner on deals.

The best part? LinkedIn is a free resource with over 400 million users. We know of several real estate investing groups with over 100k members as well.

The keyword research we provided you in our Craigslist and Google guides (link to each) also applies for LinkedIn. Simply popping “real estate investor” into the search bar at the top of the screen will lead to tons of potentially relevant results:

SELECT YOUR COUNTY
Although there are numerous relevant groups that you can choose to join, we are going to focus on how to use LinkedIn to find real estate cash buyers.

On the top right side of the results page, you can “filter” your search to help isolate real estate investors who are relevant to you and your business. Select specific locations, connections and other key details to narrow down your list, then start clicking around to find potential buyers.

Some real estate investors will list their websites, email addresses and even phone numbers in their profile, while others will require you to send InMail, LinkedIn’s secure mail system. If you aren’t immediately connected to users, you’ll need to either request to connect with them before emailing, or will need to upgrade your LinkedIn package to include InMail options.

Some terms that we look for on LinkedIn profiles:

  • Real Estate Investors
  • Real Estate Wholesaler
  • Co-Wholesaler
  • Real Estate Bird Dogs
  • Real Estate Agents

Even if you don’t wind up finding potential buyers’ contact info via LinkedIn, you should still add them to your ongoing list. Include what you can immediately see in the LinkedIn search—first and last name, company name, location—and try and flesh out contact and key details through a quick Google search.

Usually, this one-two punch will get you everything you need to make that all-important first contact. Just be sure to note the source as “LinkedIn” on your buyers list so you can keep these leads straight—and make reference to how you spotted them when you do connect.

In addition to using LinkedIn to find cash buyers, we also recommend posting ongoing content to your LinkedIn feed and the groups that you join. This will allow the cash buyers to see that you are a prominent thought leader in your space, and will get buyers to contact YOU. What could be better?

By utilizing Craigslist, Search Engines and LinkedIn to find Real Estate cash buyers, you will have a knockout list before you know it, allowing you to dominate your region.

Ultimate Guide Part 1: Using Real Estate Wholesaling to Build a Cash Buyers List

Ultimate Guide Part 1: Using Real Estate Wholesaling to Build a Cash Buyers List

There are countless ways to make money as a real estate investor. But one of the simplest and fastest ways to pull in a major payday? Real Estate Wholesaling.

Real Estate wholesaling isn’t for the faint of heart, and cash buyers aren’t necessarily a dime a dozen. In the real estate investing business, you’re only as good as your cash buyer list – and that’s why we need to hit the ground running in building yours.

If you don’t have high-quality, high-momentum cash buyers to flip those deals to, then you’re just collecting contracts. When you have a powerhouse cash buyer list, you’ll be collecting paydays instead.
Once your list is rock solid, all you’ll have to do is fire off an email with the details of your latest deal and, within hours or even minutes, you’ll have a bite or two. You’ll even be able to proactively source properties for top rehabbers and landlords, ensuring each deal you reel in has a qualified cash buyer on the other end.

Not all buyer lists are created equally. Fire off a killer email to a dud list and it’s going to be nothing but crickets. But send that same email to an A+ list and you’re going to have buyers competing for your deals. So that’s exactly what we will be focusing on in this execution plan: building an all-star cash buyers list.

Part 1: Types of Good Real Estate Cash Buyers

ESTABLISHED LANDLORDS LOOKING TO FIX ALL PROPERTIES

  • They could be all about apartments, single-family homes, multi-family homes, condos, commercial spaces, or anything in between. All that matters is that they are primed to buy and have the cash or financing at the ready.

LANDLORDS LOOKING TO FIX ALL PROPERTIES

  • Again, they can be in the market for any kind of property — they just need to be ready to go with cash or financing queued up.

RETAIL BUYERS WHO WANT A HOME

  • These are the traditional buyers you think of when you think of home buyers. They’re looking for a property to invest in and live in.
  • If you’re a wholesaler, you likely won’t be swimming in these waters all that much, but it could happen.
  • There are some handy home buyers out there and people looking for deals on fixer-uppers who may be interested in your latest flip.

Every real estate investor I know is always looking for real estate wholesalers, even if they already have a few on speed dial. If you can show them you mean business, you’ll likely have a new investor ready to dive in on one of your upcoming deals.

Over the next few lessons, we will discuss how to search, engage, and organize these buyers. With a little networking, research, and strategic outreach, you’ll be able to grow the perfect cash buyer list for your business – enabling you to flip more properties and make more money.

Ultimate Guide Part 3: Building and Utilizing a Buyers Data Sheet

Ultimate Guide Part 3: Building and Utilizing a Buyers Data Sheet

A buyers data sheet is a tool you can use to collect the information of your prospective buyers. It is important to utilize a buyers data sheet so that you can keep all of the information in order about their qualifications and what kind of contact you have already made. This can be created in an excel sheet, or any other grid chart that you prefer.

In that grid, be sure to indicate any specifics about the buyer:

  • CONTACT NAME
  • COMPANY NAME
  • PHONE NUMBER
  • EMAIL ADDRESS
  • WEBSITE

You also want to include some extra information outside of the traditional contact info. These could be things such as:

  • LEAD SOURCE
    • How you found this lead; this is good to reference when you reach out (“I saw your ad on Craigslist” or “I found your website in my online search.”)
  • NOTES
    • Any key info that may help you engage these buyers down the road such as the type of properties they typically invest in, where they’re located/where they buy, etc.
  • CONTACT MADE
    • Whether you’ve reached out and if so, how (i.e. via email, phone or in person) and when. For now, this will be blank.

Add all other contacts you collect through the next few steps to this grid as well. Later in the guide, we’ll go through all of the contacts you’ve pulled and leads you’ve generated and start refining your buyer list, but for now, everything goes right here.

Now that you’ve found leads and vetted them for interest and activity — that’s the calls and emails in the previous section — it’s time to finalize your buyer list.

As you make calls and send emails, some leads will pop to the top. They’ll be ready to engage, will respond to your email follow up and will be eager to send you potential investments and/or will react to deals you send their way. Then there are the others — the ones who aren’t interested in this win-win you’re proposing and will tell you that flat out. Maybe they’ll say they don’t want to be added to your list, wont add you to theirs, or will just hang up on you before you can get your elevator pitch in.

As you work through your calls and emails and start separating the YAYS from the NAYS, be sure you’re updating your buyer list.

The easiest way to keep a good running buyer list? Copy the initial list you made, and as you work through your calls and emails, delete any investors who aren’t interested or aren’t in business any longer. If you get a wrong number, head to Google to see if you can find updated contact information. A quick search will usually get you back on track.

Once you’re done, you’ll have two lists on your buyers data sheet — your original buyer prospect list in case you ever want to refer back, plus your new and improved “real” buyer list, which you’ll use for future outreach. Keep both, as you never know when you’ll want to refer back to your original prospect list.

Download our buyers data sheet template here.

Ultimate Guide Part 4: Making Contact with Cash Buyers

Ultimate Guide Part 4: Making Contact with Cash Buyers

Congratulations on putting in the work to learn about our recipe for success in finding cash buyers! Now it’s time to start putting what you’ve learned into action by reaching out to prospective cash buyers and finalizing your list.

You’ve been tracking prospective buyer leads throughout this process, and should feel ready to reach out via phone and email. Pull up your script (link to real estate buyer leads script blog) to ensure a successful call, grab your seller lead sheet, and get to work dialing numbers.

Immediately after making contact by phone, send a quick email to your prospective lead to make sure you stay top-of-mind, and to keep them accountable on following through on any of your next steps.

Download our email templates here!

With your buyers list in hand, you are ready to start popping deals out left and right. You will know exactly who is interested in the deals that you have on the table, and can pop them a quick note saying “Hey! I’ve got something that I think you are going to REALLY like…”

Chances are, you’ll be right on the money because you have taken the time and put in the effort to know your list and understand what makes each of them tick. When you are on the money like that, it’s only a matter of time before you’re in the money, too, with payday after payday rolling right in.

That’s the power of building a solid cash buyer list. By following our 4 part guide, you will be staring down a winning list in no time. Good luck!

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