One of the most significant opportunities to find a deal is purchasing a distressed property. This happens when you buy a home under market value, usually intending to fix it up. Distressed properties come with risks, but they can be a superb investment when done correctly.
Get ready to take notes as Brent Daniels gives you nine valuable points to communicate with distressed property owners and bring your wholesaling vision to life.
9 Steps To Becoming An Unstoppable Cold Caller In 2022
This is our ability to communicate effectively with distressed property owners and cash buyers. This is where real superstars are made and where you start building moments in your business. I’m going to give you nine tips here. If you are starting, you are new, feeling nervous, a little stressed out, and you don’t have that certainty and confidence that you need, this is going to help you. Let’s dive right in.
Number one, stand up. It all starts with a phone call. We know this. It all starts with one quality conversation with a distressed property owner. Sometimes, you meet face-to-face but a majority of these deals start on the phone. Could you imagine if I was sitting at my desk, slumped over, and I was in low energy? Standing up makes your energy level higher. You come off more confident.
If you have never done a deal and never had a conversation with a distressed property owner, stand up. It’s going to make you feel more confident. Get your earbuds, put them into your ear, press go on the phone, walk around, talk and use your body. It’s going to make you feel more confident, and that is going to make the conversation go a lot smoother.
Number two, smile. You might say, “This sounds creepy. I’m going to be like some goofball on the phone,” but smile. It delivers happiness. Have you ever been in a conversation with somebody, and they are just looking at you, and it’s almost like they have no interest in it? You need to smile and let people feel comfortable with you.
Energy is contagious. It’s a magnet that pulls people to you.
You need to deliver that little seed of happiness in their life in this conversation. It is going to set you apart. It’s so easy to do. You can tell when somebody is smiling and laughing on the phone in conversations. In our brains, when somebody is like that, when they are bringing that happiness to us, we naturally want to bring it to them as well or at the very least feel more comfortable with that person.
Speak With Confidence
Number three, speak with confidence. They need to trust that you can get the job done. I don’t care if you have never done a deal before. If you are going there with the confidence that you are there to help this person out and relieve the stress that these people have about the property or properties that they own, they are going to trust you but you have to have that confidence. I am permitting you to be confident when you are talking to these people.
It doesn’t matter what age you are, how much experience you have had or how many strangers you have talked to in your life. You have enough inside you. You have enough conversations in your database and your brain to be able to speak confidently. Go back to a time when you were on fire, in the zone, and confident speaking about something that you knew like the back of your hand. You can do that. There are distressed property owners. There’s you, and there are cash buyers. You get in the middle between these two people, and you bridge the gaps so that you can get paid. It’s that simple.
Energy And Enthusiasm
Number four, have energy and enthusiasm. I cannot tell you how many deals I’ve got because I was excited about them. I brought enthusiasm to it, people didn’t get the right feeling from my competitors, and my competitors wanted to be these big-time cash investors type of people. Don’t do that. Be excited. Have some enthusiasm and energy for it. It is all about your tone. It helps when you are standing, smiling, and when you have confidence. These are all building on each other, as you can see. If you have that, you will set yourself apart instantly.
I have seen so many of my students that have had zero experience, have not done any deals, and have never talked to anybody about real estate, whether they were in the military, truck drivers, teachers or doctors but they had beautiful energy to them. Energy is contagious and is a magnet. It pulls people to you, so bring that energy and enthusiasm.
Number five, be conversational, and this is so key. As you have all four of those, and it builds to this, be conversational. What that means is to stop thinking about the next thing that you are going to say. The best way to do that is to practice and know your scripts. Start thinking about, “What are the big objections that I’m worried about that they are going to throw at me?” Practice a couple of different responses.
Once you have that down, you are not constantly on your back foot worried about how you are going to respond to somebody because you’ve got it locked in. You are feeling good. You are conversational, and when you are conversational, it makes it go smoother because they feel like you are listening to them. It feels very natural. It doesn’t feel like you are a robot, a sleazy salesperson or you are manipulating them. You are influencing them to have a better conversation with you.
Number six, be interested in them. Not just in their property but why do they want to sell? What are they going to do with their life? What is their background? Be curious about the people that you are talking to. There’s a famous quote that says, “If you want to be an interesting person, be interested in people.” It’s the absolute truth. Be curious about what’s going on with your life. The more that they allow you into their past, fears, problems, and happiness, into all of these things, the more that you are in there, the more that they are allowing you to understand them as a human being.
If you want to be an interesting person, be interested in people.
These are human beings out there that are going through a tough time. That’s it. Be curious. Understand what is going on there so that you know whether or not you can help these people out. If not, move on. There are plenty of people. Remember, 6% to 10% of the real estate market at all times is in distress. That’s who we are looking for. If you are on an appointment and somebody doesn’t need a cash offer, then find somebody or help them if they want to sell it or do retail.
If they want to do whatever or get rid of the property but not at the price that you are willing to offer, move on. Find somebody that will. More people need your help than people are helping out in our communities. That is an absolute fact based on the numbers. The day that there are no ugly houses on streets around America is the day that wholesaling dies. I don’t see that ever happening. Do you?
Confirm And Approve
Number seven, confirm and approve. You want to cause friction in a conversation. Starts disagreeing with somebody. Start arguing with them. The second you start arguing with a distressed property owner, you lose, so confirm and approve. I’m going to give you little tactics. You have to be an active listener. You’ve got to be saying, “Uh-huh. Sure. I’ve got it. Okay. The roof is five years old? Okay, that’s great.” You don’t want to be an empty noise on the other line on the phone. You don’t want to sound like you are interrogating them. You want it to be conversational, so you’ve got to be actively listening.
If you are in front of them, it’s nodding your head, using your eyes, face, and body. Look at where they are taking the conversation and actively listen all the time. Don’t cause friction. Use an affirming echo like, “Uh-huh. Sure. Do you want to move to Dallas? That’s great. Do you want to be there by June? That’s excellent.” All of these things are adding to your ability to communicate effectively and have a better conversation.
Mirror And Match
Number eight, mirror and match. Anybody that’s gone through an LP, gone and broken down the way that people communicate and understand, it comes down to body language and your tone and pace. If somebody is crazy expressive, be crazy expressive. If somebody is slowed down, slow it down. Remember, people that talk slow think fast talkers are scamming them. People that are fast talkers think slow talkers are idiots. Adjust your pacing there. In your tone, you want to be inquisitive, confident, have that kindness and optimism. That’s the tone that you want in the pacing mirror and match of that seller.
Number nine, the last one, is the toughest one for everybody out there, which is practice. Practice your scripts and handle objections. Go over it. Roleplay with somebody. Don’t wait until you are live with the distressed property owner sitting knee-to-knee, belly-to-belly or face-to-face and start trying to practice all these things on them, and try to use bits and parts of the script.
The script is scaffolding and skeleton. It is there so that you can act natural, be conversational, and you know how to react to certain responses. Let’s be honest. Since the beginning of time, there has only been a certain number of objections that a seller will give us. Let’s call it twelve major objections that sellers give us. Why wouldn’t we practice the responses to those objections? They are not coming up with new objections. They are not going to a seminar to learn how to deal with real estate wholesalers and how to throw all the objections at them, so we need to practice.
Practice the opening of your script, your cold calling script or the TTP script. Practice the objections, all of these things. Practice the way that you ask them to please sign the contract. Practice your approach. At TalkToPeople.com, there are so many resources. One of those is the perfect offer presentation. It breaks down exactly what you need to do when you are on that appointment. Practice it at home. Walk-through the door and do the things that are on that packet that show you how to effectively get the contract signed.
All of a sudden, you have practiced 100 times. You are in front of a seller for the first time. They don’t throw any objections at you. You get the contract signed. You are like, “I feel bulletproof,” or maybe they do throw all those objections at you, you handled them and got that contract signed. It all comes down to practice. Remember, when you are sitting down with the property owner, you are auditioning for $5,000, $10,000, $50,000 or $100,00. Why wouldn’t we practice? Everybody else does. Every other highly paid professional practices so that when it comes to the game day, they don’t have to think.
There you go. Those are the nine steps. If you are interested in joining the most proactive group in real estate investing, it is the TTP family and the TTP program. Go to WholesalingInc.com/ttp. I will mentor you. You get my cell phone number. 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, and I love you. If you are interested in that, check it out and scroll down.
The little scroll thing is tiny because there are so many testimonials. Check it out. If it feels good in your gut, sign up for a call. You are amazing. We are crazy people. We are such a small group of people that are passionate about real estate investing, wholesaling, and sourcing real estate opportunities. You are extremely special. Implement these nine steps. You are going to be bulletproof. Until next time. I love you. See you.
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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!