Today’s episode is full of pure nuggets of awesomeness – you’ll get to hear Tom Krol conduct a Q&A session with one of his students about creating a list, the challenges of living in a small territory, and the real purpose of a script.
IN THIS EPISODE YOU’LL LEARN:
- How to set your list criteria
- What you can do when you live in a small territory
- Why it is so important to stick to the script
How to Set List Criteria
When you are creating a list of properties using Find Motivated Sellers Now, there are two important search criteria:
- Vacant Property
- High equity (or free & clear)
Wholesaling in a Small Territory
Even in a small market, it’s helpful for a new Wholesaling business to first get a good foothold locally. After you know how to Wholesale, it is easier to get into virtual wholesaling or extension markets.
The Real Purpose of the Script
The more you read your script, the shorter your phone calls should be. If your phonecalls are getting longer, that’s not a good thing. You will improve your lead generation process if you stick to the script.
Your script is not to build rapport – the purpose of your script is to separate the good eggs from the bad eggs.
We’ve been working on a new concept to improve your lead generation process:
- Assume that, if they call, they have some level of motivation.
- Try not to spend too much time on the phone – get through the script, classify them, and then figure out what you will do next. Don’t make too many assumptions about how motivated they are from the phone call.
- If there is equity on the property, or if the owner owes less on the property than you’re willing to pay, go out to the property.