Posted on: October 03, 2019
WI 313 | Winning Wholesaler

 

Ever wondered what top traits successful wholesalers in the country possess that has helped them dominate the market effectively? Wonder no more!

In today’s episode, top wholesale real estate coach and TTP guru Brent Daniels discussed in detail the top 10 traits winning wholesalers share. From thinking big daily to creating a positive environment, you’ll discover all the key traits that has made winning wholesalers a force to be reckoned with in their markets.

If you can’t wait to join the circle of top wholesalers in the country, listening to today’s episode is a huge step in the right direction!

RESOURCES:

The Top 10 Traits of a Winning Wholesaler

Episode Transcription

Have you ever asked yourself, what are the top traits and characteristics that the most successful real estate wholesalers around the country possess? If only there were a list that you could start understanding and implementing into your business to put into your mindset, life and business, then you could be as successful as they are.

I’m telling you, I’d put together the list of the top ten traits that the most successful, winning wholesalers around the country possess. This has taken some time from networking with incredible people around the country. This has been talking to the most successful Wholesaling Inc students and TTP family members. This list is going to jump out at you and you can start taking action on it right away. I’m thrilled because it’s about time that we had the top ten traits of winning wholesalers.

Think Big Daily

Let’s start with number one. The top wholesalers around the country think big daily. This goes to speak to that identity and winner part inside of you, that part that believes that you can do amazing things and sees people being successful. Instead of saying, “Why are they so successful,” you start thinking, “How are they so successful?” There has to be a path. You start thinking big and paying off all your debts. You start thinking about buying apartment buildings, big pieces of land or maybe dozens of homes. Maybe you think big about the company that you want to build, the number of people you want to employ and the number of sellers that you want to help out in your community.

Every single top wholesaler around the country thinks big daily. This is not an easy task because we get caught in the whirlwind, the cyclone of daily activities and actions that we have to take time every single day to remember and think big. Think about those big goals that we have out there. Do we want to be a millionaire or a multimillionaire? Do we want to be so well off or have so much passive income that we can commit ourselves to our church, family, coaching sports or whatever it is? Thinking big daily is part of your schedule and life. It’s something that you implement every single day so that you know where you are going. Top winning wholesalers all think big daily.

Competitive Against Goals And Business Plans

Number two, which I love, is they are competitive against their goals and business plan, not against their competition, the other wholesalers or real estate investors in their market. They don’t matter. The only thing that matters is how are they doing versus the goals they set. Where are they at in their business plan? Here’s the thing. If you put together an effective plan and constantly have quality conversations with distressed property owners, you cannot lose. You always win.

If you’re going from a framework of you are going to win, then you put together a business plan to achieve whatever financial goals or business goals you have. That’s your competition. It’s not the guy down the street. It’s not the people that you meet at the REIAs, at the meetup groups or online or that you see at different seminars or conferences. That’s not the competition. The best people are competitive against their business plans and goals. That’s what fires up their competitive juices, not the other people in their marketplace.

If you put together an effective real estate plan while constantly having quality conversations with distressed property owners, you cannot lose. You always win.

Control A Positive Environment

Number three, they control their positive environment. Nothing is going to take you down as an entrepreneur as quickly as being around a bunch of negativities. The winners in this industry create a positive environment that they go to every single day. Maybe that’s their environment. Maybe their workspace or the room that they work in their office has inspirational quotes, playing inspirational YouTube videos, it gets their mindset or they only hire optimistic people. That’s a huge one. They hire people that aren’t coming in pessimistic and complaining about the market and leads.

They are ready, willing and able to go out every single day and find the problems that property owners have in the community and solve them. They control their positive environment. You never want somebody coming in and trash in your mindset with negativity daily. There should never be that friction in your daily life. When you are trying to solve the problems of people in your marketplace, you can’t bring negativity to those people because there’s so much negativity coming from people in distress, not necessarily towards you but in their life. Their life is full of a lot of drama or they’ve had some unfortunate circumstances happen. We need to be that shining light. We need to control our positive environment.

Great Communication Skills

Number four, they have great communication skills. This comes down to versatility with the different types of personality types. You can look it up and find one million YouTube videos on it, podcasts or books describing the different personality styles but there are four main ones. It is among the absolute top real estate wholesalers to be versatile in the way that people want to communicate. It might not be your personality style but it’s the way that other people want you to communicate with them that makes you successful. There’s a great book called Versatile Selling that you should all go and get. It is dry but good at explaining the different personality types. Being versatile is number four.

Unafraid Of Confrontations

Number five, the winning wholesalers around the country are not afraid of confrontation. They’re not afraid to confront the people that work for them, the service providers in their business, title companies or private money lenders or anything that is not up to their standards. There has to be a confrontation. You cannot back down to it. Let me give you a great example. This is crazy. I have an office here on the nineteenth floor of downtown Phoenix. I have a guy wandering into the office. You can’t even get past the people at the front desk but somehow this guy slipped past. He finds my office. He doesn’t knock and opens the door, old school, home builder.

He’s like, “Are you Brent Daniels?” I said, “Yes. This should be interesting.” He goes, “I was talking to your acquisition manager, Julie. I’m interested in selling my piece of land.” I said, “Great. Have a seat.” He sat down and said point-blank, “I rubbed people the wrong way sometimes. I got to tell you that I’m blunt upfront.” I said, “That’s fine. Let’s talk. What are we talking about?” He says, “I want $250,000 for my land. You want to give me $210,000?”

There is some compromise in the middle. I looked up the property and pulled it up on my computer. I said, “No, $210,000 is even high for us. It would be the absolute most that we can do.” I confront it right away. I’m not wiggling and saying, “Maybe we can get more.” I’m not doing anything. I know this piece of land is going to be tough to sell at $210,000. It’s not a single-family house that’s super easy to sell. He pointedly tells me, “You’re a crap.” I said, “That’s the best that I can do.” He was in a huff. We didn’t have the best rapport, let’s say. He left the office and signed the contract.

WI 313 | Winning Wholesaler

Winning Wholesaler: If you love your work, stay there. But if you are a true entrepreneur and want a business that serves you, you need to be a master of delegation.

 

Two hours later, we sold it, made $15,000 and moved on. That’s a point of confrontation. You got to be able to be comfortable. When people are coming to you, you have to be certain and likable but do not back down from confrontation. I see it all the time with business owners with their employees. They don’t want to confront the problem because they feel like it’s going to ruin the culture of their business. That is not the case. If you show that you can confront, you will get the respect of the people that work for you.

Knows How To Love Failure

Number six, learn to love failure. They all learn to love failure. They’re always testing, trying new things and playing with their business to try to get the highest profitability. They learn to love failure. If it doesn’t work, great. They learn something from it and they add it to their toolbox and resume. All your resume is a list of all your past failures. You got to learn to love failure.

“Brent, I called somebody up and they were mean to me on the phone. I’m never going to make a call again.” “What? No, that’s great. Why were they mean to you? What happened? Tell me what list they were from and how they responded to you. Could you have said anything different at the moment? Think about it.” All of a sudden, it opens up your mind to start thinking about the ways to succeed at that moment. You learn to love failure.

Has Discipline And Focus

Number seven is discipline and focus. Discipline is what you do every single day. Discipline is that boring part that says, “When I get ready to start my wholesaling day, I’m at work. I am 100% focused on my lead follow-up, marketing, prospecting, developing the talent around me and being present in the conversations that I have with property owners.” The discipline you have is the absolute focus.

“Who’s going to sign the contract?” That’s the question you got to ask every single day. The whole focus of the business is to solve problems in the marketplace and your community. Discovering opportunities in your community and marketplace is all about being disciplined so that you’re doing the small actions every single day that is going to lead you to be successful. Focus on the outcome. “How can I solve the problems of the homeowner? How can I solve the problems that this person goes through probate, tax default, foreclosure or inheritance?”

Always Hunt For The Next Deal

Number eight, top wholesalers around the country are always hunting for the next deal. They forgot that check that they got on why they get to their account instantly. They’re always looking for the next thing and it makes them so excited. They’re deal hounds. They’re ready to find that next one. It’s like an insatiable thirst or hunger. They have to find that next deal because it’s so rewarding.

When solving the problems of people in the marketplace, you can’t bring negativity to them. Their minds are already full of negative thoughts.

Wholesaling real estate is so rewarding. Not only do you get to help solve the problem of a property owner but you get a match it up with somebody that’s going to put food on their table for their family because they get a flipper property or hold it in their rental portfolio and get cashflow from that. You want to find the next one constantly. You don’t want to get complacent.

One of the biggest problems I see is people go and take advice from this show and the YouTube channel. They joined the Wholesaling Inc program or the TTP program. They got a big, massive deal. They stop hunting for the next deal. They get complacent. They start thinking of grand ideas, want to grow their team too fast, rest on it, go on vacation or do whatever. Do not get complacent. Always hunt for the next deal.

Number nine, the top trait of winning wholesalers are masters of delegation. You are not great at everything, nor should you be. This should be a business that serves you, not a job. Ninety percent of the people in this industry have the job of wholesaling real estate because they are in it. I get it. Maybe you’re starting and building it up and your bank account, your experience, network, relationships, skills, sales skills and ability to communicate with people.

You’re going to get to the point where your bank account is healthy enough that you can start delegating responsibilities. You can start taking yourself out of the day-to-day activities and start owning the business, being a business owner. I haven’t been to an appointment in several months. I’ve got the most amazing acquisition managers, a disposition manager, a lead manager and people that keep me organized and keep the business running.

I am telling you, it is the most amazing blessing of all time. It is so incredible but that is only because I had to learn how to delegate and let go of the little things. It was hard having somebody else pull your list, not going on the appointment to close that deal and not being in charge of lead follow-up but for the top real estate wholesalers around the country, look at this as a business, not as a job. Have self-awareness. If you love all the tasks, doing these things and standing in the mix every single day, then stay there. If you are a true entrepreneur and you want a business that is going to serve you, you need to be a master of delegation.

Coachable Yet Opinionated

The last one, number ten, they are coachable yet opinionated. They want to be around people doing way more than them and have more experience than them. They want to follow a path that’s already laid out but yet they stay opinionated so they can sell themselves every single day on what they’re being told so that they know that they’re not just being taught something that doesn’t work because it sounds good. They have that opinionated radar that says, “Is this for real or not?” It’s so important. They know that the path has already been laid out there. There’s somebody where they want to be and they are willing to be coachable, take instruction and take mentorship so they can get to their goal faster.

WI 313 | Winning Wholesaler

Winning Wholesaler: The right path is laid down with instruction. It is not about being entertained.

 

They’re opinionated so they make sure they’re not going down the wrong path. The right path is laid down with instruction. It is not theory, education or the most prevalent entertainment. You can be entertained by so many different other things. Do not be entertained by people trying to teach you how to wholesale real estate. You find instruction and implement it with action. That’s it. It’s as simple as that.

Don’t get sidetracked by all the fancy stuff on Instagram, the big cars, the watches and the mass amount of people on teams. Look for what instruction are you getting? What coachable point are you getting that you can implement into your business? That is what makes you successful and what cuts the learning curve from 3 years down to 3 months. That’s what gets things going.

That’s what’s so exciting about this show, the YouTube channel, Brent Daniels – Real Estate. Check out those great resources. Those are the ten traits of winning wholesalers. Think big daily, be competitive against your goals and business plan, control your positive environment, have great communication skills and versatility, do not be afraid of confrontation, learn to love failure, discipline and focus, always hunt for the next deal, master delegation and be coachable yet opinionated. I hope you are feeling that.

Think about these things. Read this again and write these down so you can put it on your wall in that positive environment that you’re creating and you can say, “This is the person that I am. This is who I’m going to be. This is where I’m going. This is what the most successful people are. These are the traits that I want to emulate.” You will win huge. It is incredible. I love it.

If you are interested in joining the most proactive group and program in real estate investing, I encourage you to go to WholesalingInc.com/TTP. Check out the video, the breakdown of the program and the testimonials. If it feels good in your gut, sign up for a call. I’d love to work with you. Until next time. I love you. I encourage you to talk to people.

 

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About Cody Hofhine

403Cody Hofhine, a multiple Inc 5000 Business Owner. Co Founder of Wholesaling Inc. the #1 Real Estate coaching program across the nation. Co Founder of Joe Homebuyer the leading Real Estate Franchise. A successful Real Estate investor/mentor and sought after Speaker.

Cody has coached over 3 thousand students on how to successfully Build their Real Estate Business through his real estate training as well as help individuals perform at their highest levels with his one-on-one mentoring.

Cody used his background in sales to quickly build multiple 7 and 8 figure Real Estate Businesses that all start on the foundation of clarity or Vision and Purpose.

Cody loves being with his family and doing crazy tricks behind a boat.

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