In today’s show, Brent will give you the actual, real-life results of somebody making a call to a stranger, asking them if they will consider an offer and getting a lead. Making the call is a TTP staff who does a good job of pulling out the four pillars of pre-qualifying in every single motivated seller: the condition of the property, timeline to sell, motivation, and price. He got those four pillars and got a solid lead.
In this episode, hear an actual cold call to one of the TTP’s prospects. Brent will breakdown the call and give his thoughts on how the staff did it while the recorded cold call is playing.
This episode is exciting, especially for those who have not tried doing cold calls yet or are not comfortable making one! Learn how to do cold calling. Listen and enjoy!
Episode 660: Cold Call Breakdown – What Should You Say to a Distressed Property Owner
He literally is telling him, “I had surgery. I need some money.” See how he’s confirming and improving? See how he’s saying stuff like, “Sweet, yes, okay.” That is so critical. That’s the difference between pros and people that are just trying to get the lowest hanging fruit. They don’t sound like a robot.
I love these cold call breakdowns because this gives you the actual and real-life results of somebody making a call to a complete stranger, asking them if they would consider an offer, and getting an actual lead. This happens every single day in my business. This is one of my personal phone prospectors, Darien. He lives in another country. He makes these calls and he sends the leads to my acquisition managers.
What you’ll see is, he does a good job of pulling out the four pillars of pre-qualifying every single motivated seller, and that is the condition of the property, their timeline to sell that property, their motivation, and their price. I’m telling you this, you get all four of those. You’ve got a solid lead. Watch how he transfers that lead over to my acquisition manager and the way that he does that so that the handoff is very smooth. Darien is new, he’s a little bit rough around the edges. I’m going to critique him a little bit but let’s hop on in.
“Hi, I was looking for Richard.”
“This is him.”
“This is Darien. I know this call is a little bit out of the blue.”
Do you know what’s great about this? He starts off hesitant and slow. Wait until this seller says yes, he would consider an offer on the property. Watch Darien blossom. Here’s the first critique that I have for him. You need to bring that energy and enthusiasm on every single call. That gets difficult because you make hundreds and hundreds of calls. It feels monotonous. You get rejected all the time. Maybe this is his 3rd or 4th hour of the day of making calls but I think that is the time.
If you’re feeling that way personally when you’re making your call, stand up, move around, and make your calls. I don’t care if you’re pacing in front of your computer or doing something, you need to bring the energy level up because watch what happens when he opens up with his energy, how the seller also opens. He’s really difficult. You almost feel going into this that this guy’s not going to give us much information. In their minds, we’re going, “This is going to be another person that’s not going to tell me anything. They’re not going to give me any information. They’re just trying to see how much I would offer them.” Read about how this happens.
“I was just calling about a property I think you have.”
What he did, a little nuance there. He made sure that he just said the address, not the full-blown address. He wanted to be quick because you’ve got a little bit of time to get more time with the property owner. This particular property owner was a tired landlord because we got the property and he has several properties on the street.
“I was going to see if maybe you would consider offers on it?”
“Which address are you talking about?”
People will say yes to considering an offer on their property. It’s just a matter of getting to the right person. Don’t get frustrated.
“I might be accepting an offer.”
“I’d be happy to get you them. Have you gotten a lot of inquiries about it before?”
“Yes, I might be accepting an offer.” Out of all of these calls, after people telling you no and telling you, “How much will you give me?” “Who are you?” or all these other things, he says, “Yes.” Put this in your brain, people say yes. People will say yes to considering an offer on their property. It’s just a matter of getting to the right person. It’s enough swings at the plate. Don’t get frustrated. It will happen for you. Even Darien, who’s a newer caller. He doesn’t have all the perfect honed skills. He’s not a samurai out there knowing exactly what to say and how to say it and working in his tone. Read about how it unfolds. You can’t screw up a motivated seller. Just stick to the plan. Condition, timeline, motivation, price.
“No, I just started putting it up for sale.”
“Is it on the market now?”
He’s checking to see if it’s already on the market, seeing if he’s got other offers. This is really great, especially in competitive markets. You need to figure out if they’ve been bombarded with other offers.
“I didn’t even realize.”
“If you feel like you can offer, we’d be happy to even take care of the quoting fees and all that.”
Benefit, benefit. This guy’s long pausing. This guy’s buffering for a long period of time. It’s awkward. You’re like, “Am I losing him? Is he getting mad? Is he okay? Is he coming back to me? What’s going on here? It feels a little awkward,” but he stays in the saddle.
“Is it up on the market? Was this a rental property for you? What’s the story with the property?”
“It was a rental.”
“Have you put any thought into the price you were going to put it on the market for?”
“As is, I’m trying to get somebody to buy it.”
Is that the most beautiful thing you’ve ever read? “As is, I’m trying to get somebody to buy it.” This is in Phoenix. This is one of the hottest markets in the country. This guy is like, “I’m trying to find somebody to buy it as is.” These are all the signals. This gets me so excited listening to this recording because I know where this is going. He’s awkward. He’s not really showing. He’s given him one-word answers, but he keeps going.
“The offer we’ve got right now is $127,000.”
“You currently have an offer right now for $127,000?”
“Yes, but they’re trying to see if they can get the money. I don’t know if they can or not.”
They’ve got an offer. What did he already get? He’s already working on the price. You already asked him, “If you were to put it on the market, what price were you thinking about?” He hits him back with, “I’ve already got an offer for $127,000.” What does that mean? Does that mean that you would consider that? Would you take that? Are you looking for more? If we beat that offer, would you consider working with us instead? These are the questions that I want him to ask. He gets there.
“I’d be happy to talk to my partners about this and see if we can make it work out for you. We’ll buy it cash, meaning we don’t have to get a loan. We have the money ready.”
Do you see why he did that? He’s talking about buying it cash because the other buyer that he’s negotiating with, he just mentioned, “I don’t know if they can get the funds,” and he’s saying, “We’re ready with the funds right now.” Benefit, benefit.
“Do you have an idea of how long or how short or soon you’d be looking to close if you were to get an offer that works for you?”
“The next month or two.”
He’s got the timeline. He’s got a good idea on price. He’s going to go hard after commission. Not only that, he’s going to ask him point-blank, “What is your motivation for selling this property?” Which I think is a newer person question. You can pull it out and understand if you get the condition, their timeline, their price, and their motivation but he pulls it out anyway because he’s like, “This guy’s not giving me much. I need to push over the edge. I need to see if this is a great hot lead.”
“You mentioned you were selling it as is currently. Does this house need any repairs or does it need updating do you think?”
“It needs some painting. It depends on what you mean by update. There are certain people that want other things than what’s there.”
The guy is selling it as is. He knows that he wants to sell it as is, but why? He says, “What kind of updating needs to be done? What’s happening there?” He’s going to hit him with a great question, “What remodeling have you done to your kitchen and bathrooms?”
“Have you done any updates to it like the kitchen, bathroom, or the floors?”
“Since I’ve had it? Yes, I’ve done a whole bunch of different stuff to it. It’s got copper pipe, instead of galvanized pipe. It’s got Romex wires instead of the wire that was in it.”
He’s talking about the functionality of the property, not the attractiveness or the updating of the property. This is so classic. He’s like, “Yes, I’ve done a ton of updates. I put in copper piping instead of plastic. I’ve put in better wiring, copper wiring, instead of the old stuff.” It’s great. In a lot of people that own these properties, that’s a big upgrade.
“It’s got plastics through the pipe, black plastic. I’ve done a bunch of stuff to it over the years.”
“Sweet. Do you know when the last time the AC in the roof was replaced?”
“The refrigeration is a couple of years old.”
He’s asking for the air conditioner and the roof. He’s just getting all of this out of the way. Could you imagine if somebody was calling for you? We get our callers from CallMotivatedSellers.com. That’s who we get our phone prospectors from. Used them for years and years, made a fortune from them. They’ve done a really good job of understanding how to hire the right personalities to go out there and make calls. If you are interested in that, CallMotivatedSellers.com, use that TTP. You get moved to the front of the line because they know that you’re serious.
“Do you know the last time the roof was replaced, by chance?”
“When did we have that big hail storm in Phoenix?”
This is something I need to educate Darien on. In 2010, we had a terrible hail storm that destroyed half the roofs in Phoenix. He doesn’t really know. There’s this weird gap here.
“At least it had on passing. How many bedrooms is that?”
“It’s a two-bedroom.”
“Two bedrooms, one bath?”
“Yes. It has a laundry room, a kitchen area, and a living room.”
He’s writing the notes. He’s pausing a little bit. I don’t like it being silent.
“What was your motivation to sell at this point? You’ve rented out before. Did you try to get out of the rental business?”
“No, I had some surgery done and I need some money.”
How about that? He just straight asked him, “Why are you selling this?” Fantastic, because the guy’s not very vocal. He’s giving little short answers. His tone is really here, which is fine because this guy’s going through something medically. I totally understand. He literally is telling him, “I had surgery. I need some money.” See how he’s confirming and improving? See how he’s saying stuff like, “Sweet,” “Yes,” “Okay.” That is so critical. That’s the difference between pros and people that are just trying to get the lowest hanging fruit, don’t sound like a robot. It is not an interrogation. It is a conversation. You need to actively listen, “Uh-huh, yeah, sure.”
“All right. Do you happen to have any other properties that you might consider offers on?”
“Not right now.”
Calls are not an interrogation. It is a conversation. You need to actively listen.
This dude’s gangster. He’s going for more. Not only does he have this hot lead, he’s going to hit him with the best question to ask if people say no, they wouldn’t consider an offer on their property, which is, “Do you have any other properties that you would consider selling?” Maybe something that needs a little bit of love.
“I will let Chad know.”
“It also gets flood irrigation.”
“Good to know.”
“It has stucco on the outside. It’s got two inches of insulation on the outside with the stucco. It’s got double pane windows.”
It was a little delayed, but I would like that to be a little bit quicker, “Nice.”
“Anything else? Keep them coming.”
“I can’t think of anything right now.”
He says, “Keep them coming.” Right now, he’s going to transition. He’s going to tell him that Chad is going to reach out to him. He’s going to set a time between 10:00 and noon. It’s really good.
“I replaced the floor a few years ago.”
“You mentioned earlier that it depends on the person what they’re looking for in remodels and updates. Do you have anything in mind, off the top of your head that it might need cosmetically if someone were to come in and redo it?”
Darien is actually pretty savvy here. What I first thought was, he’s not getting too deep here, but I think he is. What he’s saying is, “I understand that you’re telling me the functionality of the property, but tell me a little bit about the soul of the property, the feel of the property, the energy, the vibe. What would you fix in there? What would you do in there?” One, it gives a list of things that would need to be improved on in the property. It builds up in the seller’s mind that to get an as is purchase on this property, they need to accept that things need to be done to it. He’s doing that but also, he’s trying to dig a little bit deeper to see if this guy will open up and admit that the property needs a lot of work.
“I have no idea. That’s why I say I don’t know what other people would want. If they’re wanting to change instead of fiberglass.”
Still resistant. No problem. Don’t screw up this lead. Pull back. If he’s shutting you down again, pull back again. That’s fine.
“Direct with hot water heater.”
“I forgot what type of countertop that is. It’s like a veneer. I can’t remember what they call it now.”
“You’re talking about in the bathroom?”
“In the kitchen. In the bathroom, it got one of those little artificial stone-like stuff, whatever it is.”
Seal it. Deal it. Set up the next call, right now Darien.
“I will go ahead and talk with my partner, Chad about this. I’ll have him give you a call tomorrow if that works for you? In the morning or afternoon, what works best for you?”
See how he gave him two options? Not, “What time works best for you tomorrow?” Morning or afternoon? He’s like, “Any time,” So he’s like, “In the morning.”
“I’ll shoot for around this time just for consistency. We could do anytime between 10:00 and 12:00. I don’t have his schedule right in front of me. I’ll give him that little two-hour gap if that works for you?”
“Thanks so much, Richard. We’ll be in contact. I’ll have Chad reach out to you tomorrow about the place.”
“All right. Bye.”
Wasn’t that incredible? These calls happen every single day in every market around the country. I wanted to share this with you and break this down because I want to give you encouragement. I want you to feel strong and powerful when you’re on the phone. Even when people are pulling you down, tearing you down, they’re negative, they’re short, their tone’s snippy, and it’s wearing on you and riding on you. This one was $16,000 from that call. That’s a small deal for us because we had to outbid the other guy. That guy was bidding it up and we ended up being $2,000 under what the other guy was willing to offer but we went to the house and we locked up that deal and got in front of them and got it signed.
In this market, you definitely want to get face to face, knee to knee, belly to belly with those property owners, if possible, because that’s going to be the difference-maker. The truth is one call, $16,000. This is real life. I want to show you that. I want you to taste it. I want you to feel it. I want you to be inspired by it and encouraged by it and go out there and have quality conversations with distressed property owners because that’s what it’s all about. You have the quality.
That quality part is those four pillars. Condition, timeline, motivation, price. That quality part is your tone of voice. That quality part is your active listening. That quality part is the words that you are saying and the questions that you are answering. Go out there, have quality conversations. I know you got this, you know you got this.
If you are interested in joining the most proactive group in real estate investing, it is the TTP family. Go to WholesalingInc.com/TTP. Scroll down, check out the testimonials. You’re going to have to scroll for a long time because nobody has more. We have the absolute best people in the program but I’d love to work with you one-on-one. That’s what it’s all about. It’s about the mentorship. Check that out. If it feels good in your gut, sign up for a call. Until next time. Love you. See you.
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!