Posted on: June 18, 2020
WI 452 | Cold Calling

 

Ever wondered what cold-calling prospective sellers are like? Undoubtedly, the whole idea of calling strangers can be daunting for many. This is especially true if it’s something you haven’t done before. The good news? In this special episode, no less than the TTP (Talk to People) guru himself, Brent Daniels, will show you how it’s done!

If there is someone who has truly mastered the art of cold calling, it’s our very own Brent Daniels. After all, he didn’t earn the title TTP guru for nothing! Talk to People (TTP) is a simple, low-cost, yet highly effective telephone marketing program that has helped countless wholesalers do more, bigger, and more lucrative deals without breaking the bank.

In this episode, you’ll hear the master in action. Listen in as Brent expertly navigated conversations with prospective sellers. Pay attention and take note of the script he used, his tone of voice, and how he converted NO responses to leads. If you’ve always wanted to try cold calling but don’t know how to go about it, consider today’s episode your first masterclass!

Brent Cold Calls Motivated Sellers Live!

Episode Transcription

If you have not subscribed, do it now. Every week we come out with the hottest interviews, the best instruction, and the best breakdowns on exactly what you need to do to be successful in your wholesaling business, which leads me to this video. It is exciting because it is me making live cold calls in front of 30 people at our wholesale certified training in San Diego.

This is not a lead follow-up. I have never called these people. I have never talked to these people. This was not a cherry-picked list. I had my lead manager put a list that usually my phone prospectors call, and I called them. What is interesting about these calls is every single person that I got as a lead that we are going to follow up on what said no to me first and watch how I confirm and approve.

Watch the way that I am fine with whatever they respond to me. Remember when you were cold calling somebody and asking them if they would consider an offer on their property, there are only six responses. Yes, no, maybe, how much will you give me? How did you get my number and who are you? Watch how I navigate through these conversations.

I get these people that initially stiff arming me and building a force field around, that they did not want to have a conversation with me, that they were tired of people calling and watch the way that I melted it down a little bit and I was able to have a great conversation with them. Get some notes on this. They were not perfect calls by any means, but it was me in front of people making cold calls. I hope you enjoy it. Take the little nuggets that you read, the way that I’m responding, and use it in your business. You guys are the best. Check this out.

We usually get 12 to 15. After that, the second time, you get 10 to 12, and the third, it goes down. When you are calling yourself or when you are hiring callers, you need to make sure that the lists are fresh. We are going to see real quick based on the responses that we get if this list is getting called by a lot of the competitors, been called by us a ton, or what is going on. Somebody might shut me down right away.

When you call somebody, and you ask them if they consider an offer on their property, there are only six responses. Yes, no, maybe, how much will you give me? Who are you, and how did you get my number? As long as you know the responses of that, you can keep the conversation flowing. Let’s rock and roll.

Hello.

This is Brent. Are you the owner of the property?

Yes.

I know it is out of the blue, but I was calling to see if you would consider an offer on that property there.

No. We have a contract pending. Thank you.

Do you have any other properties in that area that you are thinking about selling as well?

No, we are not. Thank you.

Are you accepting backup offers?

I would say yes, we could consider a backup offer.

Just to let you know, the way that we purchase properties, we purchase these properties in cash. There are no real estate agent commissions. We pay all the title and escrow fees. The best part is we buy them completely as-is. For an offer like that, how much are you looking to get for the property?

We would consider $460,000.

Is that what you got locked up for now?

Yes.

When is the closing date on that?

August 31st.

I would love to present an offer for you. You can keep it in backup. Maybe you will never need it, but at least you have it there. You’ll know we are serious about it. What is the best way to get that to you? Do you have an email I can send that to, or would you prefer to meet in person?

Right now, you should send an email. That would be fine.

Are they in their inspection period right now? Do you know if they are moving forward after they have done inspections, or have they not done that yet?

They have not done it yet.

Are they buying it with a loan, or are they buying it cash?

Cash.

Do you know when that inspection period ends? Just to make sure that I’m following up appropriately with you and making sure they have got the process that you have already committed to, I want to make sure if something gets a little wiggly there that I’m there in front of you when we should be.

It is not entirely clear, but we’re talking about the 31st.

They have not scheduled inspections with you.

No, not yet.

Have you done any major remodeling to the kitchen and bathrooms in the last five years? I’m looking at it online. It looks like it is clean and move-in ready. Is that still the condition that the property is in?

Yes.

If that falls out, is $460,000 the lowest that you would go on the price there?

Yes.

What was your first name? I’m sorry. I have got it under your trust here.

Robert.

Robert, my name is Brent Daniels. If you would like to save this number on your phone, that’s great. What I will do is put together an offer package for you. I will send it over to you, and then I will call the confirm.

In cold calling, as long as you know the common responses, you can keep the conversation flowing.

That will be fine.

Robert, I appreciate it. Thank you so much.

Thanks for calling. Bye.

Talk to you soon.

Maybe it was you that called. Did you call me once before?

It was either me or it was somebody on my team, but we buy a lot of properties in Munds Park.

I recognized the phone number, but I talked to my wife, and she said, “No way.” Put me on the list, check back in 6 to 8 months. Maybe she is changing her mind.

Have you guys talked about it a little bit, or is it something that is in the back of your mind?

We talked about it. My grandkids grew up there, and there is no way she is going to take that away from them. When they go up North, they rave about the place. It is going to be difficult to do it at this time. We are in our retirement years. I’m 64, and she is 64. We want to start traveling when she hits 65. We are going to start doing a lot of traveling. There may be an opportunity but check back with me in several months.

Do you have any other properties that you guys are thinking about selling right now? Maybe some of them need a lot of work.

No. We are pretty much set right now. I have got three homes. One is our primary home. One is up in Mexico, and the other one is by Munds Park.

What I will do is I will say this. I’m making notes now. I’m going to call you in a couple of months to check-in. No pressure there, but I do want to be there when you guys are ready to make the decision. We purchase these properties cash as-is. It is the easiest thing that you will ever sell.

I hear you.

I appreciate it. We will talk soon.

Thank you.

My name is Brent, and I know it is out of the blue, but I wanted to see if you would consider an offer on your property there.

No. How much is the offer?

To let you know, we purchase these properties in cash. We pay all the closing costs. It is not like a real estate agent thing. There are no commissions, and it is completely as-is. For an offer like that, how much do you think you would take?

I have no idea. I never had the property appraised.

Do you own it for a while?

I don’t know, 15 or 20 years.

We love the area. We would love to present an offer to you. Have you been thinking about maybe putting it on the market or selling it?

No.

I would love to still present an offer to you. We are purchasing properties in the area there for about $150,000. Is that what you were thinking?

No.

Is there a price that would make sense? I’d love to present something. If it makes sense, I can sharpen my pencil on it.

I do not want to waste your time. We are not interested.

Do you have any other properties that maybe need some remodeling or a piece of land that you guys are looking to sell?

Not at all.

I appreciate it. Thank you so much.

Thank you.

Have a great day.

What is your name?

My name is Brent. I know it is out of the blue. I want to see if you would consider an offer on that property.

I don’t know why people think that we want to sell it because you are the third phone call this week. I don’t know how everybody got my cell phone. I don’t list it anywhere.

Sorry, it is not listed. It is in an area that we are looking to buy. We wanted to see if you would consider an offer on the property. I completely understand if you have no interest in selling it right now, but I wanted to reach out and see if you would consider a cash offer.

Probably not right now, because when I bought that, I did a Starker exchange on it at 1031. Too much would go to the government now. They increased the offer by quite a bit, but that is not good for you either. I’m trying to hang on to it, but I appreciate your call.

Is there a certain amount of time that you have to own it, like long-term capital gains or something like that?

No. It’s just when I sell it from what I traded it for, which is 1031, you have to pay the capital gains from 50 years ago versus what it would sell for now, which is quite a bit different.

Did you buy it 49 years ago?

No, we did not buy this 49 years ago. I bought one in Pinetop, and we traded it. It is called 1031, and it is called a Starker exchange. Whatever we paid 49 years ago for this little basic cabinet there and traded it for this, that is what the base price would be that you pay capital gains on.

Have you thought about selling it to put it into another 1031? Is there something that you would want to buy?

I don’t know if you can do that twice. Can you do that?

Yes, absolutely.

I have asked my CPA and lawyer. Nobody has just done that at all. I don’t know if I can do it, but I love it. I don’t know if you have driven by that, but I love that front deck. That is my favorite place in the world. I’m able to get up there right now, but if I’m getting incapacitated a little more, then maybe I would be open to it, but now it’s not on the table. I’m hanging in there.

I want you to hang on as long as possible, but I don’t want to bug you, but when the time comes, I would love to at least get the opportunity to give you a cash offer on it. Do you want me to send you my information in the mail or an email? What would it be best?

What was the first name again?

My name is Brent Daniels.

There is another guy, Brandon, that calls me all the time. I asked him to take me off the list. It was a robocall. He agreed to do it, but I still get these calls. I remember a beep. If I give you my home address here, you could send information. Don’t send it there because I have not used it most of the time.

First of all, Brandon is the worst. Let’s get rid of him, and we will work together. What is the best mailing address for you?

Do you know him?

No, I assume it is somebody that is like a robot. They are trying to get you.

I got his number down, and finally, one day, I called him back on that number and pretended I was interested. I said, “You keep calling me every couple of weeks. You need to stop.” He agreed. It lasted a couple of months, and we are right back in. I’m a retired school teacher, so I will not lose it. I will put it in my cabinet file. If that time is ever conducive to me, I will give you a jingle.

How long did you teach?

Thirty-five years.

You are an angel. You live right by me. You live in a beautiful area.

Do you know where the park is?

Yeah. I know exactly where it is.

The light rail hasn’t helped us too much, but I live on a dead-end street. I feel safe, and I like bikes. A lot of my neighbors have been my neighbors for the 47 years I have lived here. It is falling apart like the cabin is because we are all getting older. My star street is very nice. I thought you were from Phoenix. You’re from Phoenix. I did not realize that.

I do some investing in Flagstaff. I love Flagstaff and went to NAU. Is the cabin okay? It is livable. Is it something that needs a lot of work?

WI 452 | Cold Calling

Cold Calling: When you’re cold calling, be fine with whatever response they give you. There are only six responses, yes, no, maybe, how much will you give me, how did you get my number, and who are you?

 

The kitchen is the original. If I were going to do something, I would replace the kitchen. It’s solid. It’s those little logs, but unfortunately, the previous owners painted it instead of leaving it with a stain on it. For me, as long as I can keep the pipes good, that makes me happy, and I got a good plumber. So far, it is very usable. There’s no major problem.

Maybe some updating.

If I could ever figure out how to get Home Depot in there to replace the cabin. The cabinets are old, and they are not any good. They need to be thrown out or stripped, but I have not had the time, energy, or help to deal with that. That would probably stay there.

That is what we do. That is what we are looking for, Paula. What I will do is I’m going to send you my information. I’m not going to bug you, but I will touch base every so often. When the time is right, I’m going to get you that cash offer.

That sounds great, Brent. Thank you so much for calling.

We will talk soon.

I’m glad you weren’t a telemarketer.

Not at all.

Thank you and good luck to you.

Thank you. We will talk soon.

Thanks, Brent.

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