Posted on: April 20, 2021
WI 670 | Cold Calling

 

Real estate entrepreneurs are determined to grow professionally, but it takes time. Before we hire anybody to make calls for us, we should do the cold calling of property owners ourselves so that the fears of rejection are gone. With that, we get great conversations and business growth. But, how do you deal with an angry seller?

In this episode, Brent Daniels will show us how to handle an angry seller through a recorded phone conversation. The key to finding discounted properties is to have consistent quality conversations with distressed property owners, which means keeping our cool and rolling with it. Brent shares his knowledge and tips part by part throughout the recorded call. Take notes of the tips from Brent to do calls and benefit fully from doing it. Deal with an angry seller the right way through this episode.

Cold Call Breakdown – How to Deal with an Angry Seller

The key to finding discounted properties is to have consistent quality conversations with distressed property owners, which means keeping your cool and roll with it. How do you deal with an angry seller?

Episode Transcription

The key to finding discounted properties is to have consistent quality conversations with distressed property owners. The quality part there is critical because you’ve got to keep your cool and roll with it. This seller comes out aggressive right off the bat and they are going to try to shock my caller but my caller is cool and calm. Check this out. “Hello.” “What do you want and why do you keep calling me?” “I’m looking for Eleanor.”

Right off the bat, “What do you want and why do you keep calling me?” Wouldn’t that stop you in your tracks and mentally you are like, “What’s going on here?” He just rolled with it. He stuck to the script. If you have the most effective cold calling script, you are going to win. He sticks through the script, “Hi, I’m looking for,” and the owner. He’s not like, “I’m so sorry.” He’s sticking to it. “I’m calling in regards to the property.” “Yes and?” “I want to see if there was a consideration of a cash offer on the property.” “What have you got?”

Did that just work to call and say, “I wanted to see if you would consider an offer on your property?” He didn’t do it perfectly. What he did is he said, “A consideration of an offer.” He was thrown off a little bit but the result is the same, whether he said, “I was wondering if you would consider or if there was a consideration of an offer on your property there,” that’s what I would prefer like in the script. He stuck to it and things started melting and calming down a little bit. He didn’t get shook.

WI 670 | Cold Calling

Cold Calling: The pride, confidence and a bulletproof mindset you’re going to have after you’ve achieved cold calling property owners are worth all of the fear and rejection.

 

This is the difference, in my opinion, between an American caller and somebody that English is their second language. English as a second language might get rattled here, fumble and stumble, and get off the phone. My American caller is ice water in his veins, ready to go and prepared. He has been through this a ton of times with no problem. He melts that demeanor and that force field that the owner has put around himself to protect himself and rightfully so.

When we are calling somebody, we are literally jumping into their day, their life. They have a right to be angry or upset but we have a right to be calm and collected, and that’s exactly what he is. “What’s that? I looked at it online already.” “Yes. Are you buying it?” “Yes. We are looking to buy properties in the area. We are a local investor.” What I would prefer is, “We are a local cash buyer,” instead of the investor. I think that that’s a little bit better but it depends, both are interchangeable. I think a local home buyer or a cash buyer is a little bit easier and smoother.

When people hear the word investor, they typically think, “I’m going to get lowballed. I’m going to be taken advantage of. They are going to give me a super low offer,” as opposed to being a cash buyer. It’s fine. It still works and was digested through his ear. He was fine with it and cool. He keeps going through this conversation, “You know I’ve got a swimming pool too, right?” Now he is giving us the details. When you make these calls, remember every conversation, we are going to find it in this call. You are looking for those four pillars of pre-qualifying every single lead, the condition of the property, timeline to sell and their motivation to sell. What are the problem that they have with this property and their price?

This is why I always coach to start working with the condition. Start asking about the property because they are most comfortable talking about the property and that’s fantastic because that will open up the conversation that you can see, even with the hardest, most aggressive sellers or property owners. This guy has maybe had fifteen calls. I don’t blame him. Maybe I would do the same thing but he came out hot. Now, he’s chilling out a little bit and he’s giving the condition on the property.

Sometimes when you have a strong personality, and they’re coming at you hard, you have to be quick and straight to the point.

“Yes, I’m looking it up now. There is a swimming pool.” “With a backyard and RV parking. What are you talking about?” “It won’t be me that would run the numbers. That would be my associate but I will be asking you questions about the property. We would follow up with the call and give you an accurate offer.” Giving him the process and deflecting what this property owner is saying. What this property owner kept saying is, “How much will you give me?” Remember when you asked somebody if they would consider an offer on their property, there are only six responses, “Yes, they would consider. No, they wouldn’t. I will never sell it. Maybe I will sell it in the future. How much will you give me?” That’s the fourth one. That’s the one that he hit him with here.

“If you would like to go through with it, I would ask you first, what would be your motivation to sell your property.” He’s going straight at it. He’s about to do it. I would prefer at this point that he goes into it and he is giving the benefits of the way that we do business. Basically, the speed and convenience that we can provide are what we are trying to get across and communicate. In that way, they can understand it’s a cash offer. It’s as-is.

You don’t have to pay all these fees and for a real estate agent. You don’t have to make repairs. All of these things give the owner of the property the benefits so that they keep going on and opening up about the other pillars but he had straight asked him, “What’s your motivation for selling this property?” This is very interesting because I would feel that this property owner would not give him anything. Sometimes when you go for it, you get what you asked for.

“It’s time.” “Do you feel that it’s time?” “I have been here for ten years. It’s more than I need.” “Okay.” How much are we talking about?” “I’m not the one that runs the numbers but it would be a once again, my associates that would run the numbers. I’m the one that asks the questions, send it off to her and she would call you either.” Instead of asking the questions, what I would want you to do here is say, “I am the person that reaches out. I’m a people person. I’m the person that tries to start a relationship and see if you would consider an offer, and then I pass it on to my associate who runs all the numbers and gets you a solid offer.”

WI 670 | Cold Calling

Cold Calling: If you make a call and feel fear and anxiety, don’t think about it. You have to focus on your goals.

 

That’s very smooth and easy. They understand that. It’s a little bit better than, “They run the numbers and I asked the questions.” It’s a little bit black and white and that’s fine. Sometimes when you have a strong personality like this and they are coming at you hard, you’ve got to be quick and straight to the point. I understand what he’s doing here but you can soften it up and still be straight to the point if you use these tips that I’m giving you. “Tomorrow the next day or whatever would be best.” “First, I want you to know exactly what we do. What we do is we buy properties cash. We pay all the closing costs. There are no real estate commissions and we buy them as-is, which is the best part is that you don’t have to put another cent into the property.” Word for word perfect to the script “benefits,” and the best part is you don’t have to put another cent into the property.

“For a property like that, how much do you think that you would get? What would be a bottom-line price that you would not go below?” “$300,000 is low.” It is officially 2 minutes and 19 seconds into this conversation with a very upfront property owner. Timothy, my caller here, has got the motivation and the price. He’s got a little bit of the condition. The guy was selling them on the quality of the backyard. He hasn’t dug into the property yet. Next, let’s see how he gets the condition of this and the timeline when this person wants to sell. He’s already gotten the timeline. I will give him 25% because the guy said, “It’s time to sell. I have been here ten years.”

“I’ve got a backyard and a pool, too. The pool guy comes in once a week, every Friday and gets the pool clean. You can jump in it now. I don’t have any repair that needs to be done.” “There are no repairs that need to be done. Has there been any remodeling or improvements done in the last five years like bedroom or kitchen?” Condition of the property. This is what I love when you train somebody and they ask the right questions. This is beautiful.

“I understand about the repairs. What remodeling have you done in the last five years to the kitchen and bathrooms?” That is a fantastic question because that’s the major ticket items, cabinets, countertops, appliances, anything that has to do with plumbing. There are a lot of electricity that goes into the kitchen and bathrooms. A bedroom doesn’t cost much to put together and fix up but the kitchen and bathrooms are where the heart is. That is where the big-time budget is. He’s asking that question to pull that out.

You can soften your tone up in cold calling and still be straight to the point.

“The bathrooms? No.” What he’s doing here is wonderful. He’s trying to pull out the condition of the property by asking about the kitchen and the bathrooms because he knows that all of these houses that he’s calling on were built before 1990. These are 30-plus-year-old houses. If they haven’t been renovated in years, that’s a significant investment that the property owner has to make or an investor has to make. That’s what he’s trying to pull here. “Working on it now. We will see if we are going to do that or not.” “Okay.” “Other than that, no.” “It is 4 beds, 2 baths?” “Yes, sir.” “Is there a mortgage on the property?” “Yes.” “Are you comfortable sharing how much is left on the mortgage?” “About $130,000.”

He’s three minutes into this conversation and the guy is telling him how much his mortgage is. He’s going through it. He didn’t get scared off. He didn’t get rattled. He’s going through and asking those questions. I’m not sure why he asked that question. I don’t ask that question. It’s not in the script but I think he’s trying to figure out a little bit. He’s trying to keep them on the hook and throwing out some random questions that maybe Timothy, in his experience, was calling for a mortgage company, real estate agent or something like that.

He has that in his subconscious to ask, his back pocket to ask but you don’t have to ask that question. If you have TTP Data powered by PropStream, you can see exactly what they owe or a close estimate of what they owe. You don’t need to pull that out. Don’t feel like you have to ask that uncomfortable question. “What’s the occupancy? It’s you and?” “My wife.” “Okay, just you two. On a scale of 1 to 10, how would you rate the property?” “An eight.” “If you were to sell this property, where do you think that you would be gone? Would you stay in the area or move to a different area?”

“Probably the same area because I like the weather here but I will move to California. There are plenty of people there and traffic. I was there for 32 years and I had to deal with all this.” When he asked the question, “Where would you move to next?” It’s beautiful because it’s going to show you the timeline. That’s what he’s trying to pull out. If he already has another house, another plan and got things figured out, then he’s ready to sign a purchase agreement now. It seems like he’s not quite ready yet. He doesn’t have everything figured out, which is very interesting. He’s still working on that timeline.

WI 670 | Cold Calling

Cold Calling: Look for the four pillars of pre-qualifying every single lead: the condition of the property, timeline, motivation, and the price.

 

“I lived outside of the city but I want to get to the city, 20th Century Fox, UCLA Medical Center, City National Bank.” “That was when you worked in California?” “Yes.” “A lot of people from California are moving to Arizona.” He is building the rapport, relationship, opening up the conversation, “Just to confirm, your name is Eleanor?” “Yes.” “I have a few more questions here.” Don’t stall. Don’t say I have a few more questions here. Just keep going and rolling with it.

When you talk about there are more questions to ask, it starts to sound like an interrogation instead of a conversation. Don’t put that in there. I think he’s stalling for time because he’s either taking notes or he is not sure what to ask next to try to pull out that timeline. “Any other reason why you’ve got one?” “You’ve got two.” “What’s that?” “You’ve got two left.” “When would you like to be completely done with the property once we get this ball rolling? We typically close within 30 days. Would that work for you?” “$300,000?” “Thirty days. I know your asking price is $300,000 at least.” “If you can give me $300,000 in 30 days, call me back.” “My associate will be calling you back to follow up with you. This would not be the only call that you would get in regards to your property.” “Okay, very good.”

He got them all, condition, timeline, motivation, price in 5 minutes and 27 seconds. They are about to get off here. There’s not much more to this call but look at all that information that you can get. Are you going to get this on every call? Absolutely not. Is it possible to get these? You are hearing it. This is real life. This isn’t made up. This is a real call to a property owner here in Phoenix. You can do this. Use the tips and tactics that I’m talking about. I have talked to 45,000 property owners like this. Once you get into that rhythm, you can sound like you are their neighbor and get past them being angry at you for calling, then you were unstoppable but it takes time.

That’s why I want to challenge you. Before you hire anybody to make calls for you, you talk to a minimum of 1,000 property owners yourself. Once you can do that, the fears of picking up the phone are gone. The fears of rejection are gone. The fears of asking people about real estate and having good conversations with anybody are gone. I want that for you but you have to put in the work. That is something earned. You can’t buy that. You have to earn it but the pride, the confidence and that bulletproof mindset that you are going to have after you have done that is worth all of it, that fear and rejection.

Don’t stall when you’re cold calling. Don’t say you have a few more questions. Just keep going and rolling with it.

Get there as fast as you can. That is the challenge. Use this. Make sure that you are using the TTP Script to TTPScript.com. It’s absolutely free. Download it and start using it now. Start taking action. Don’t hallucinate in your head of all the different things that are going to happen if you make a call, how scared and the fear, and the anxiety that you might feel. Don’t even think about it. 1, 2, 3, 4, 5 call. Five seconds is as long as you get to make that call. You get an accurate phone number for a property that needs some love and use that script. It’s a matter of time. You will absolutely win.

I want that for you because I love you. I love that you are like me. We are real estate entrepreneurs. We had that fire in our belly so get after it now. If you are interested in joining the most proactive group in real estate investing, it is the TTP Program. Go to WholesalingInc.com/ttp. I will personally mentor you. You get my cell phone. We text and call. It’s crazy. It’s bananas but it’s the truth because I want you to be as successful as possible. I want to work with you. If you are interested in that, go to the website. Check it out. Scroll down and keep scrolling. The little scroll things are tiny because there are so many testimonials. Nobody has more testimonials. If it feels good in your gut, sign up for a call. Until next time. You are the best, TTP.

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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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