Get ready for another cold call breakdown!
In this episode, Brent will analyze a call made by Fran, a successful member of the TPP team whose consistently aggressive energy has gotten her really big deals. This is going to be exciting because, despite going off-script, she manages to get the four pillars of pre-qualifying this seller in 90 seconds!
Find out how she did it only here on the podcast.
Cold Call Breakdown – How To Pre-Qualify A Seller In 90 Seconds!
Strap in for this cold call breakdown because this is unlike any other that I have done so far. I have done this, phone prospector is our team. Her name is Fran. She’s an American living in Costa Rica making calls here. Listening to her is like drinking out of the back of a jet engine. She is aggressive in tone and very fast with her pace. I have trained a lot with her. It doesn’t stick but the beautiful thing is she has been with me for years and she gets really big deals because typically, they are the lowest hanging fruit. She’s worth the investment but this is just a different strategy. If you are feeling this energy that Fran has, then go for it.
All I’m saying is what she does really well. She’s unbelievably consistent. She can keep this energy for eight hours a day. She’s worked with us 40 hours a week for years. She watched this. This is incredible. This is a very short call because she gets the four pillars of pre-qualifying this seller condition of the property, timeline to sell, motivation to sell and price in 90 seconds. Check this out. “Hi there, Mr. Post?” “Who is this?” “Sir, my name is Fran.”
First two mistakes. It doesn’t matter. Her call goes right through. She doesn’t listen to me. Don’t call them Mister and their last name. Call, “Hi, I’m looking for George.” You sound more like the neighbor and it doesn’t sound much like it’s a commercial call or a cold call. The second thing she does is she goes sir and ma’am on these calls.
That feels very much like a sales call. I would prefer if she went and sounded like she was a neighbor, and was a little bit more comfortable. I think that you are going to get a lot more opportunities and fewer hang-ups. Again, she gets big deals because she gets the lowest hanging fruit and you are going to see it here. This is almost like a laydown. It’s incredible. The important thing here is this.
If you make enough calls, you will get these opportunities, laydowns, people that will literally answer the phone and say, “Yes, I’m ready to sell.” Check this out. “I’m calling to ask you about a property. I just wanted to see if that might be available to make an offer on it?” “Sure. It’s ready. It’s enough and the process of getting things sorted, whether I’m going to keep them, throw them out or donate them.”
“Sure, it’s ready. It’s in the process of throwing out all my stuff.” Are you kidding me? This is a real call. How exciting is that? Imagine yourself picking up the phone, making a call and somebody going, “Yes. I’m selling it. I’m ready to sell it. I’m getting all this stuff out. It needs a lot of work. I’m going to sell it as is. If you want to come by, check it out and give me an offer, that would be great.” We all want to make money so that we can do what we want with our schedule. We want to be able to do this business full-time so that we have freedom of schedule but the freedom of schedule is that, we can pour ourselves in and get financial freedom.
What’s the path there? What’s the mystery there? What are all these things that are happening? It starts with finding an ugly house, getting the phone number, calling them up and having a conversation like this. Fran uses almost none of the TTP script, which she should be using. Even if she’s just going at it, we still get unbelievable deals from her.
What I’m saying is if you are going after replacing your income so that you could do this full-time, have the schedule that you want, you are not wasting your whole life working for somebody else and you want financial freedom, it starts right here. Ugly house, phone number, call them, be brave and be consistent. That’s all she does. There is no magic here. That’s what I want to get across. Watch other folds. We are at 24 seconds. Wait until 90 seconds. “Mr. Post, if we were to buy that in cash and pay all the close cost, the real estate commissions and be bought it as is, we would even clean it out for you.” “I’ve got 22 years of stuff here and I’m sure I want to keep some of it.”
She has given value. Make a quicker decision, “We will take care of all that stuff for you.” That’s what you want to be listening for. What are the problems? What are the sticking points? What’s slowing down this process? You are listening for what is holding this person back from getting rid of this problem and moving on with their life going to greener pastures. “What price point will you be looking for?” “I haven’t given any thought. I just had some problems with the city and I had enough in this neighborhood to last me a lifetime.”
What do we have here? She asked the price. We know that he’s having problems with the city and he’s done with this, “To last a lifetime,” he said. We know his motivation. He doesn’t want to be in that neighborhood. He’s having problems with the city. Why do you have problems with the city if you are a homeowner? It’s because you have junk and things everywhere.
When making a sales call, sound like a neighbor, not a salesperson.
We were already pulling the condition with this property. He gives us a little bit more. We are 57 seconds into this call but he’s already telling us, “The city is after me for fines because I have stuff everywhere. I’m in the process of sorting all that, and I have had enough headaches here to last a lifetime.” This guy is ready to go 57 seconds in.
“We are looking for options around that area to purchase. I’m calling from Mulberry, Arizona for my partners Chad and Ryan.” She’s talking about Chad and Ryan. Ryan is our Acquisition Manager. She’s already setting it up for them to open the door. Call this guy, start that relationship, go on the employment and get this deal locked up. Seeing how the handoff was happening there. She’s already handing it off to Ryan and Chad. “Take a look at a couple of places around that area in the next month or two.”
I wish she would have shortened that. We are going to be in that neighborhood this week because we are and these guys are in their prime spot. We are in this all the time but I would shorten that. She said the next month or two. That’s too much. That’s too long. Let’s shorten this down. “In the timeframe in were you looking at, we might be able to go take a look at it and make an offer.” “You can look at it. In the condition that’s in, I’ve got doors torn apart. I’ve got piles of stuff.” “That’s fine.”
Minute 32. Timeline, he’s ready now. Condition, it’s rough. He’s telling us all. Everything is torn apart. The city is after him. Motivation is city fines and he doesn’t like the neighborhood. Price, he’s just not sure yet. He’s not throwing anything out. My acquisition managers will take the ball from here and pull out that price.
They will start throwing around things like, “We will look at the value of this.” If you want to do this at home, there’s a very simple technique for this, put the address in Zillow. If it is over $250,000, throw out 65%. If it’s under $250,000, throw at 50%. The way to do that is to say, “I looked around the neighborhood.” You can and this isn’t a lie. You could look around and find properties that have sold for this, that it looks like they are selling for about 50% or 65%, depending on the value of whatever that Zillow value is that is the kind of what you were thinking and see what they say.
If the Zillow on this thing says that it’s worth $200,000 and we throw out $100,000 and he tells us, “I was looking more $110,000.” Now we know. Use this. I’m telling you 65% and 50%. Just test it out. I know there are a lot of different equations going on and maybe a lot of different thoughts. Simplify it. You can sharpen your pencil later but that way, you could see if they are in the ballpark.
“I will get out of here. When I get finished sorting through my stuff. I also have a three-car garage attached to the back of that price. I’ve got a 16×48 foot garage.” “The house structure itself, I was thinking it was around 1,200 square feet. Is that correct?” “I don’t know how many square feet it is.” “Is it around that?” “It’s over the top of it.” “Is it three bedrooms and two baths? What is it?” “Four bedrooms, a bath and a half.”
Pulling out a little bit more, giving the guy a little bit more ammo, information and putting it into the notes as she’s calling, she’s writing, scribbling notes, making sure and then she puts it into our CRM. Don’t worry about CRM if you are just getting started but she’s putting in her notes, driving it down and trying to pull out as much of this as possible so that she can give it to Ryan and Chad, my Acquisition Managers so that they can know about this property.
“I’m going to have Chad and Ryan give you a call so you guys can put together some pay in this time.” “Whoever it is that going to own this because I don’t want to live here anymore. My new place is finished and I’m ready to move.” “I will have him call you back tomorrow.” 2 minutes 30 seconds, now we are still working on this but will lock this thing up if we can get the price right. I’m sure we will.
This is what I’m talking about. She gets one of these every two hours. If you are looking at it, she gets half a lead an hour. They are these types of properties and that’s what makes her successful. If she does 40 hours, we get twenty leads a week on average from Fran that we follow up with. Make sure that we get in front of them and see if we can solve the problem with the property owner but that’s what it’s about.
You don’t have to be perfect. Don’t let perfectionism stop you from making your calls, being proactive, going after your goals and your dream of being able to own your own business, do amazing things and own real estate, you can do it. Find an ugly house, get the phone number, call and see what happens. I’m telling you, you will win. If you have enough quality conversations with distressed property owners, you will win.
If you are interested in joining the most proactive group in real estate investing, it is the TTP family. This is the TTP program. Go to WholesalingInc.com/ttp. Check it out, scroll down if it feels good in your gut, sign up for a call. I look forward to working with you personally. I will close out as I always do by encouraging you to talk to people. Until next time. See you. Love 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!