Posted on: May 04, 2021

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.

Key Takeaways

  • Addressing the seller casually makes a cold call seem less like a sales call
  • Identify what’s hindering the seller and find a way to help speed things up
  • Take notes on the prospective properties so that acquisition managers know what they’re up against or working with
  • Don’t let perfectionism stop you from being proactive
  • Find an ugly house, get the seller’s number, make a call, and see what happens

 

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Episode Transcription

Speaker 2:
Strap in for this breakdown here, this cold call breakdown, because this is unlike any other that I have done so far. This phone prospector is our team. Her name is Fran. She lives in Costa Rica. She makes calls. She’s an American living in Costa Rica, making calls here. Listening to her, I’m just warning you now, listening to her is like drinking out of the back of a jet engine. Like she is go, go, go, very aggressive in tone, very fast with her pace. I’ve trained her and trained, and trained, and trained a lot with her. It doesn’t stick. But the beautiful thing is she’s been with me for year. All right. And she gets really big deals because typically they’re the lowest hanging fruit. So she’s definitely worth the investment, but this is just a different strategy, right? If you feel this, if you’re feeling this energy that that Fran has, then go for it.
All I’m saying is what she does really, really, really well is she’s unbelievably consistent. She can keep this energy for eight hours a day. She’s worked with us 40 hours a week for two years. All right. And she really 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.

Speaker 4:
Hi there Mr. [Inaudible 00:02:38].

Speaker 5:
Who is that?

Speaker 4:
My name’s Fran.

Speaker 2:
First of all, first two mistakes. It doesn’t matter. She bought it, goes right through. She doesn’t listen to me. Don’t call them mister and their last name, call, hi, I’m looking for, in this case, George. I am looking for George. You sound more like the neighbor and it doesn’t sound so much like it’s a commercial call or a cold call, right? And then the second thing she does is she goes, sir and ma’am on these calls. She goes, “Sir.” And that feels very much like a sales call, right? I would prefer if she just went and just sounded like she was a neighbor and was a little bit more comfortable. I think that you’re going to get a lot more opportunities and get a lot less hang ups.
But she, again, she gets really big deals because she gets the lowest hanging fruit. And you’re going to see it here. I mean, this is almost like a lay down. It’s incredible. But the important thing here is this. Listen, if you make enough coals, you will get these opportunities, these lay downs, these people that will literally just answer the phone and say, yes, I’m ready to sell. Check this out.

Speaker 4:
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.

Speaker 5:
Sure, it’s ready. It’s now in the process of getting things started whether I’m going to keep them, or throw them out, or donate them.

Speaker 4:
Okay.

Speaker 2:
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. Literally imagine yourself picking up the phone, making a call and somebody going, Yes, I actually am selling. I’m ready. 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 and check it out and give me an offer, that’d be great. Listen, we all want to make money, right? We want money so that we can do what we want with our schedule, right? We want to be able to do this business full-time so that we have a freedom of schedule. But really the freedom of schedule is so that we can really pour ourselves in and get financial freedom, right?
So what’s the path there? What’s the mystery there? What’s all these things that are happening? Well, 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, right? But even if she’s just going at it, we still get unbelievable deals from her. So what I’m saying is, if you’re going after replacing your income so that you could do this full-time and have the schedule that you want, and you’re not wasting your whole life working for somebody else, and you want the financial freedom, it starts right here. Ugly house, phone number, call them, be brave, be consistent. That’s all she does. There is no magic here. That’s what I want to get across. There’s no magic here. Watch this unfolds. We’re at 24 seconds. Wait until 90 seconds.

Speaker 4:
Hey. All right. So Mr. [inaudible 00:05:36], if we were to buy that in cash and pay all the full cost for the real estate commissions and we bought it as is, I mean, we wouldn’t even clean it out for you. [crosstalk 00:05:46]

Speaker 5:
[inaudible 00:05:45].

Speaker 4:
Oh really? Okay.

Speaker 2:
She’s given value. Hey, listen, make a quicker decision. We’ll take care of all that stuff for you. That’s what you want to be listening for. What are the problems? What’s the sticking points? What’s slowing down this process? That’s what you’re listening for. Right? You’re really listening for what is holding this person back from getting rid of this problem and moving on with their life, going to greener pastures.

Speaker 4:
All right. And so what kind of price point will you be looking for?

Speaker 5:
I haven’t given it any thought. I just had some problems with the study and I’ve had enough in this neighborhood, I think to last near lifetime.

Speaker 2:
So what do we have here? She’s asked the price, right? We know that he’s having problems with the city and he’s done with this, “To last a lifetime,” he said, right? So we know his motivation. He doesn’t want to be in that neighborhood. His several problems with the city. Well, why do you have problems with the city if you’re a homeowner? Because you have joke everywhere, you have things everywhere. This property, we were already pulling the condition. He gives us a little bit more. We’re 57 seconds into this call, but he’s already telling us, “The city’s after me for fines because I have stuff everywhere. I’m in the process of sorting all that. And I’ve had enough headaches here to last a lifetime.” This guy is ready to go. 57 seconds in.

Speaker 4:
Wow. Okay. All right. Well, we’re looking for options around that area to purchase. I’m calling from [inaudible 00:07:23] Arizona, for my partners, Chad and Ryan.

Speaker 2:
So she’s talking about Chad and Ryan, right, our acquisition managers. She’s already setting it up for them to open the door and call this guy and start that relationship, go on the employment and get this deal locked up. But do you see how the handoff was happening there? She’s already handing it off to Ryan and Chad.

Speaker 4:
Take a look at a couple of places around that area like in the next month or two.

Speaker 2:
I wish she would have shortened that. We’re going to be in that neighborhood this week. Because we are. This is right in our prime spot. We’re in this all the time. But I would shorten that. I would say, we’re going to be in the neighborhood in the next week. She said the next month or two. That’s too much. That’s too long. Let’s shorten this down.

Speaker 4:
[inaudible 00:08:08] you looking at, we might be able to go take a look at and make an offer.

Speaker 5:
Well, you can look at it and the condition it’s in. I’ve got [Inaudible 00:08:18]

Speaker 4:
That’s fine. Yeah. That’s just fine.

Speaker 5:
I’m going to-

Speaker 2:
Minute 32. Timeline, he’s ready now. Condition, it’s rough. He’s telling us all, everything’s torn apart, the city’s after him. Motivation is city fines and he doesn’t like the neighborhood. And price, he’s just not sure yet, right? He’s not throwing anything out. So my acquisition managers will take the ball from here and really pull out that price. They’ll start throwing around things like, Hey, listen, we’ll look at the value of this. And if you want to do this at home, listen, there’s the very simple technique for this. If the property on Zillow, just put the address in Zillow, if it is over 250,000, throw out 65%. if it’s under 250,000, throw out 50%.
The way to do that is just say, Hey, listen, I looked around the neighborhood, and you can, this isn’t a lie. You could look around and find properties that have sold for this. It looks like they’re selling for about, whatever it is, 50% or 65%, depending on the value, whatever that Zillow value is. Is that kind of what you were thinking and see what they say, right? If the Zillow on this thing says that it’s worth 200,000 and we throw out 100,000, and he tells us, No, it’s looking more like 110,000, now we know. Now we know. Use this, I’m telling you, 65% and 50%. Just test it out. I know there’s 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 can just see if they’re in the ballpark.

Speaker 5:
Get out of here when I get finished sorting through my stuff. And I also have a three-car garage attached to the back of this. So I’ve got 16 by 48 foot garage.

Speaker 4:
Okay. But the house structure itself, I was thinking it was around 1200 square feet. Is that correct?

Speaker 5:
I don’t know how many square feet it is. It was-

Speaker 4:
Around that?

Speaker 5:
… Over top of it.

Speaker 4:
Oh, I see. Okay. And so is it like three bedrooms and two baths or what is it?

Speaker 5:
It’s four bedrooms, a bath and [inaudible 00:10:31].

Speaker 2:
Just pull it out a little bit more. Just giving the guys a little bit more ammo, a little bit more information, putting it into the notes as she’s calling, she’s writing, she’s scribbling notes. She’s making sure that she puts it into our CRM. Don’t worry about CRMs if you’re just getting started. But she’s putting in her notes, she’s dropping it down. She’s trying to pull out as much of this as possible so that she can get it to Ryan and Chad, my acquisition managers, so that they can know what they’re up against. Not what they’re up against, but know about this property.

Speaker 4:
Okay. All right. Well, you know what, I’m going to have Chad and Ryan give you a call so you guys can put together some [crosstalk 00:11:12].

Speaker 5:
[inaudible 00:11:13] because I don’t want to live here anymore. [inaudible 00:11:17] And I’m ready to move.

Speaker 4:
Oh it is. Okay. Perfect. All right. I’ll have him call you back tomorrow or the next-

Speaker 2:
Boom. Two minutes, 30 seconds. Now we’re still currently working this, but we’ll lock this thing up if we can get the price right. I’m sure we will. But that’s it. This is what I’m talking about. She gets one of these, every two hours. So if you’re looking at it, she gets half a lead an hour, right? There’re these type of properties. And that’s what makes her so successful, is she does 40 hours. So we get 20 leads a week on average from Fran that we 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. Listen, you don’t have to be perfect. Don’t let perfectionism stop you from making your calls and being proactive, and going after your goals and your dream of being able to own your own business and do really, really amazing things and own real estate, you can do it.
Find an ugly house, get the phone number, call and see what happens. And I’m telling you, you will win. If you have enough quality conversations with distressed property owners, you will win. And 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. That’s 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. Until next time, I’ll close out as I always do to encouraging you to talk to people. Till next time. See you. Love you.

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