Posted on: October 27, 2020
WI 545 | Active Listening

 

If you’re wondering how brilliant people like TTP’s Brent Daniels is crushing the wholesaling game, you’ll be in for a treat. In today’s awesome episode, you can listen in as Brent masterfully displayed why he’s the TTP guru!

Brent Daniels is hands down one of the most successful wholesalers nowadays. He has also helped thousands of people through his cold calling mastery training, YouTube channel, and podcasts.

In this special episode, you’ll get an exclusive look into how he talks to wholesalers and why he’s considered one of the masters of the wholesaling game. If you need a masterclass on active listening and building rapport, this episode is for you!

If you’re wondering how brilliant people like TTP’s Brent Daniels is crushing the wholesaling game, you’ll be in for a treat. In today’s awesome episode, you can listen in as Brent masterfully displayed why he’s the TTP guru!

Brent Daniels is hands down one of the most successful wholesalers nowadays. He has also helped thousands of people through his cold calling mastery training, YouTube channel, and podcasts.

In this special episode, you’ll get an exclusive look into how he talks to wholesalers and why he’s considered one of the masters of the wholesaling game. If you need a masterclass on active listening and building rapport, this episode is for you!

Cold Call Case Study – Listen In As Brent Daniels Lands A $32k Deal LIVE

Episode Transcription

This episode that I did to a probate list turned out to be a $32,000 deal for us. What I want you to pull apart here with this breakdown is one main thing and it is excessive active listening. I’m going to almost annoy you with how much I am actively listening. I’m working on everything and opening up this conversation. With everything that she is saying, I am responding. She knows that I am engaged and I am there in that conversation. I am present in that moment and this is so critical because oftentimes, we make so many calls and get rejected so many times that we almost go on auto-pilot mode.

No. Every call has to be focused on that one conversation or seller. Try to pull out all of the pre-qualifying that we need so that we know if we’ve got a deal or not or if we’re spending time with the right person or not. This is so critical. When I’m having this conversation with this probate seller, you know that I’m looking for the four things: condition of the property, timeline to sell, their motivation, and price. Remember, you’ve got tools in your toolbox to use every time you’re on the phone with a distressed property owner. This is a distressed property or she inherited this property. They’re doing a little bit of work on it, put it on the market and I grab it before it hits the market.

WI 545 | Active Listening

Active Listening: Oftentimes, you get so many calls and get rejected so many times that you almost go on auto-pilot mode. Every call has to be focused on that one conversation or seller.

 

Watch how this plays out. “I’m looking for Richard.” “May ask who’s calling? “My name is Brent Daniels. I’m here in Phoenix, Arizona. I’m calling about the property.” A couple of different things here. She didn’t have a local phone number and had a different area code. I said that I was in Phoenix, Arizona, because the property was in Phoenix, Arizona. I wanted her to know that I live down the street, this is my area and where I do business. It’s a little bit of a twist there.

When you’re calling and you see the dialer up and a different area code in the area that you’re calling, then it’s good to anchor them and let them know, “I’m not some big national company or call center. I am a family-owned business and local real estate buyer here in the area. I was reaching out about this property that I believe you owned.”

After 40 Seconds

“That’s my mother-in-law’s property.” “I’m looking to buy a home in the neighborhood. I want to see if you guys are selling it.” “We’re fixing it up and cleaning it. It’s probably going to be out to market maybe next week.” How simple is that? We’re 40 seconds in and I know they want to sell this property. This was a probate list. I had pulled this list from a company called AllTheLeads.com and it was phenomenal. I got their phone number. I was ready to call. With the probate list at the time when I was doing it, I was hand dialing, walking around, talking to them with this in my ear, going around and having these conversations but laser-focused in it. When I had her on this call, I knew in 30 seconds that they wanted to sell and there was potential here.

“That’s great. I didn’t know the condition of the property. We buy a lot of properties that need a lot of love.” I’m setting the table here, letting her know we buy a lot of properties that need love. What am I saying? We are fix and flippers and investors, but I don’t go out and say, “We fix and flip.” That’s friction. That causes them to put up their barriers. I say, “We buy a lot of properties that need some love.”

“In pretty good shape, though.” “Yes. It could use some work.” I pulled away from her there. It sounds like this is in pretty good shape. “No, it’s going to need some work.” In my mind, I’m like, “This is it. We’ve got something here.” I’ve got to pull it out and see her timeline, its true condition, and why they want to sell it. What’s their problem and motivation? I already know that it’s probate but some people keep their probates but understand this, 75% of probate property sells in the first 90 days of new ownership. It is an unbelievable list to go after.

75% of probate property sells in the first 90 days of new ownership.

“It has been well-maintained over the last few years, but we’re working on some paint and the pink carpet and things, and we’re going to sell.” “Would you consider a cash offer on the property before it hits the market?” “We may consider it.” Are you kidding me? “Would you consider a cash offer before you put it on the market?” “Yes.” I’ve got two yeses off the bat. Yes. They would consider a cash offer before they put it out onto the open market.

“It sounds like you’re doing the cosmetic work to it. Does it need any major remodel to it, maybe the kitchen or bathroom?” “The kitchen would need all new appliances.” We’re getting into the major items. I want her to tell me more about how much work she thinks it needs because it’s going to come down to what they want for the property. That’s what I’m trying to get to. I’m trying to get to that price and what major things.

“It sounds like you said you were doing paint and some cosmetic things, but what major things do you need to do?” All of a sudden, that’s going to start bringing down that expectation of price. Watch what happens when we get to the price. I am constantly talking and actively listening to her. The number one thing that I did when making calls was to confirm and approve everything they said.

Asking Questions

“I don’t know what condition the tiles are in and stuff. The kitchen, dining area, living room, all that portion was tiled many years ago. I haven’t been in it.” Watch how many questions I asked her in this call. It’s question after question, but because I’m saying stuff in the silence of her talking, little things that let her know that I’m listening, it almost permits me to keep asking questions. It doesn’t sound like an interrogation but a conversation. I’m very interested in not only the property but her family and the people that lived there.

“It might be okay, but it might not.” I’m having fun here. When I have somebody on there that gives me two yeses off the bat, I am excited. Every synapse in my brain is firing at this point. I’m feeling it. I know that this is somebody that could use a cash offer, that I can come in and help them out to solve their problem. Maybe they don’t want to fix it up all the way or work with an agent. Maybe they want this done as smoothly and easily as possible. That’s what I’m looking for, trying to pull out and what we need to do on every single call. When you’re actively listening, it gives you permission to be able to ask question after question.

“It’s good to say it’s probably a little bit dated.” “Yes. I would say so. My sister-in-law has been working on it. Maybe they put a new bathroom vanity in and painted the part of it. They’re doing some work on the pool.” “The pool equipment or the pool itself?” Question after question. Are these the big major items that need to be repaired? It starts bringing down that price.

WI 545 | Active Listening

Active Listening: When owners start talking about location, their property is in rough shape.

 

Property Condition

“Do you guys know what it is going to be when you put it on the market next week?” Let’s consider this. Condition, it needs work. She admitted that it’s dated. The kitchen, pool and pool equipment need work. I got the timeline. They’re going to put it on the market and so I’m going for the price. She’s saying that they’re going to sell this thing because they inherited this property. Watch what happens. This is something that comes up a lot and makes people a little bit shaky when it first comes up, but she asked me, “How did I get their number? Why am I calling her? How did this happen?” Learn how I handle it to the point where she forgets that she even asked the question and keeps going on about the property.

“Under $169,000. I’m not sure if you know where exactly is that, but it’s only about a block from the end of the light rail there.” Do you see how she’s starting to justify the price because of the location of the property? In my brain, I’m thinking that this property needs a lot of work. She’s justifying her price, not about the things that are going on in the property and the condition but about the location. Pro-tip, when they start talking about location, that property is in rough shape.

“It makes it a very changeable property.” “Is the roof in pretty good shape?” “My mother-in-law had a new roof put on it.” At this point, just to let you know, I’ve got this thing pulled up on my computer. I’m in my office walking around, going from my computer, putting in the details and checking to see what’s going on. I see that the roof has some different colors. Part of it is a flat roof and a shingled roof. The flat roof has roofing on it and the rest of it is shingled. I’m wondering what’s going on here. I’m able to pick out things because I googled it real quick. I pulled it up on Zillow. I’m looking at it. I know the size of it and roughly the bedrooms and bathrooms. I’ve got an aerial shot of it and some things that I can talk about.

Getting Into The Nitty-Gritty

The ultimate rapport is collaboration. It’s not going in and talking about things you have in common.

“I don’t remember exactly when it was, but I think it was within the last ten years. Everyone thought that stuff was new.” “I pulled it up in front of my computer. It looks like it’s 2,000 square feet. Does that sound right?” “Yes.” We’re getting to specifics and the nitty-gritty so that she knows that I’m serious, I’m down the street and I’m a local real estate buyer. I’m going to start throwing out some of these little details.

“Something like that. Can you tell me how you found out about this?” “I’ve worked with a lot of homeowners that inherit property and I get a list of property addresses.” Straight truth. When I say that I get a list of properties, the phone numbers and I try to reach out to the family owners that inherit the property, it’s great.

“The phone numbers of whoever inherited the house. I try to figure out if we can help out. We purchase properties in as-is conditions.” Here we go with the benefits. Answer their question, hit them with the benefits. “We buy it cash. You get to avoid a lot of the inspections and appraisals that sometimes negatively affect values. My day job is talking to folks like you and seeing if I can buy their properties. What we do is we can go in, do a tasteful remodel and try to renovate the property. In this case, from that side, probably a first-time homebuyer or a family.”

She’s onto a whole different track. She’s that satisfied. She’s like, “That makes sense.” In the middle of the conversation, there’s a little bit of wariness like, “Do I need to put up my guard here? Did somebody tell him about this property? Who’s leaking that I want to sell this? What is going on here?” “There are citrus trees in the front yard that are good producers. They are mature trees and produce a lot. It’s a good thing about the property. From the outside, it looks nice. We’ve yard re-did and all the trees pruned.”

The more they talk, the better you’re going to do. Some people are quadruple expressive personalities that tell you everything, but I can tell this lady that she wasn’t like that. She had her defenses up a little bit, but we opened it up with my tone, pacing, active listening, and presence in the conversation. It’s a $32,000 deal in one call.

Property Additions

“It sounds like you’re familiar with this house. Is there an addition put on, maybe at the back of the property at some point?” “There was.” Every real estate investor needs to be wary about the additions that homeowners put on their property. The most common is closing the garage or carport, the patio, or building an extra room on the back of the house. Those are the major ones that they do. You need to understand that because it does affect the value of the property. If there’s no air conditioning to that or if it’s not permitted, there’s going to be some issues there that you’re going to run into, so you need to know that.

I saw in the aerial that it had a flat roof and the rest of it was pitched. It was probably an addition put on the back of the property. I wanted to ask her that and pull that out of her because it probably is awkward. She probably understands that the flow, the floor plan of the property are probably pretty awkward. I want to pull that out as well so that it’ll help me to negotiate.

“Ma was a florist. Probably before she sold her flower shop, my father-in-law put on an addition on the back that he used to do silk flower arrangements. It’s like a workshop-type setting right off of the family room.” “It sounds weird for me to say, but I like silk flowers.” I really do like silk flowers. That’s the funny thing about this. I was not trying to build rapport from it. I think that they’re cool. I don’t know. Maybe I’m a weirdo.

Start Collaboration

WI 545 | Active Listening

Active Listening: If you hire somebody to make calls for you, they’re going to be about 25% as good as you if they are Americans making the calls.

 

“They wanted to invest in the valley. He used to teach it.” Do you feel how we’re starting to collaborate? Remember, the ultimate rapport is collaboration. It’s not going in and talking about things that you have in common. It is an actual collaboration. That’s what’s going to build the relationship and will get you the deal. “Back when I first married her son.” We’re seven minutes in and we’re getting personal. That’s how it happens if you were actively listening. It sounds crazy and maybe somebody is reading that finds it annoying like, “Brent, shut up. Let this woman talk.” With little touches here and there, you can see her open up as we’re having this conversation and we can lock this deal up.

“They do bridal shows. She will do the flowers for the bridal shows. She did lots of wedding stuff too. At one time, she got 2 or 3 floral shops.” I’m nodding my head, listening to this. This is what I would be doing on the phone. I’m standing and writing notes. I’m going, “A floral shop. They met at Mervyns.” I’m writing all this stuff down so that when we go, we can talk about it. It’s not necessarily something I can use but something that I can go back to and remember if she brings it up again.

“The name Chris Camp. He said that one time.” This is the advantage. If you hire somebody to make calls for you, they’re going to be about 25% as good as you if they are Americans making the calls. If they’re somewhere else around the world, they’re going to be about 25% as good as you because she’s talking about something local that I know about. She’s talking about something very specific to the area that we live in that I understand. With that, I’m able to pull out more from her. If you hire a Filipino, they’re going to be about 5% to 10% as good as you. If you go American, they’re 25% because they don’t know the little nuances of your market.

“That’s pretty close for her to drive then. I’m looking at the records here. Was your mother-in-law named Patricia?” “Yes.” “This is your number, then?” “Yes.” “I want to make sure that when I call back, I know who I’m talking to. What is your name then if you’re not Patricia?” “Bonnie.” “My name is Brent. Let me tell you a story. I think that I can get pretty close. The advantage to you might be that you can save on the cost.”

Providing Benefits

Benefits. Here is the advantage to you. There are no real estate agent fees and closing costs. We pay all that. I don’t want to fight with her and say, “Don’t use an agent. That’s going to cause some more of that friction.” I don’t want any of that. I say, “You can hire.” “You can certainly hire one if you want to represent you, but this might be an opportunity for you to sell it without having to pay the full commission. We pay the closing cost and all the fees. It’s a pretty smooth process. Give me about 24 hours to put together an offer for you and then I’ll call you back tomorrow afternoon so we can discuss it.” “That would be fine.” “Perfect. I appreciate it.”

I never gave her an offer. Nothing for her to leverage me with. I called her the next day and at the end of this, I made sure that she knew it was me that was going to be texting her to reach out. I said, “I’m going to text you right now and give you my cell phone information so that you know it’s me when I call.” That is critical. Build that bond. If you want to take it to the next level, shoot a little video real quick and say, “It’s me. I know this video is a little weird, but I wanted to let you know that I am real. I live down the street. I am interested in buying the property. I can’t wait to meet with you tomorrow to give you a solid cash offer.”

You can pull out opportunities and catch properties before they hit the market when you are actively listening.

That is the breakdown. When you are actively listening and you are using your skills of knowing what to say by using a script, your tone and pacing, you can pull out these opportunities. You can catch properties before they hit the market if you are building that bond strong enough so that they feel comfortable doing business with you.

If they like the price and terms of the deal, the last part of it is you. Do they trust you? It comes down to being present in your calls, actively listening, confirming and approving everything that they say. Get in there and get after it. You’ve got this. If you are interested in joining the most proactive group in real estate investing, it is the TTP program. Go to WholesalingInc.com/TTP. Check it out and scroll down. If it feels good in your gut, sign up for a call. It’ll either be with me or my right-hand guy. I look forward to it. I love you. You’re the best. Until next time. See you.

 

Important Links:

About Brent Daniels

Brent Daniels is a multi-million dollar wholesaler in Phoenix, Arizona… and the creator of “Talk To People” — a simple, low cost, and incredibly effective telephone marketing program…

Also known as “TTP”… it helps wholesalers do more, bigger, and more profitable deals by replacing traditional paid advertising (postcards, yellow letters, bandit signs, and PPC) with being proactive and taking action every single day!

Brent has personally coached over 1,000 wholesalers enrolled in his “Cold Calling Mastery” training, and helped 10,000’s of others who listen to him host the Wholesaling Inc. podcast, watch his YouTube channel, and attend his live events…

A natural leader, Brent combines his passion for helping others with his high energy, “don’t-wait-around-for-business” attitude to help you CRUSH your wholesaling goals as quickly and easily as possible!

 

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