Posted on: February 10, 2017

The #1 Secret to More Deals and BIGGER Assignment Fees!

 

There is a HUGE difference between successful Wholesalers and the people that just scrape by. The obvious difference is that successful Wholesalers do more deals, right? But WHY do they do more deals?

Is it because these people are spending MORE on marketing than you? Maybe, but I think there is another factor at play here.

In today’s Podcast, I’m going to reveal a quick “Tip” that could be the difference maker for you in your business.

The reason you are struggling probably has less to do with marketing and strategies than you think.

It actually has to do with anxiety, and I’m going to explain what I mean in this Podcast.

If you are Ready to Explode Your Wholesaling Business, Click here to Book a Free Strategy Session with me right now!

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Episode Transcription

Tom Krol: Welcome to another episode of the Wholesaling Inc. podcast. Today we are going to be going over an amazing tip specifically for wholesalers and wholesalers who want to explode their business. I’m super excited to be with you here today and I’m about to pour in you some information that is going to absolutely change the wholesaling game for you and your business. So this is very exciting. So let’s get right into it and let’s get started. What I want to talk to you about today is the difference between wholesalers who are doing very, very, very well and the wholesalers who are kind of struggling to get by and they’re on that roller coaster of income and deal flow and you can’t figure out why. I am here to tell you today that the number one difference between the wholesalers who are making it and crushing it and the wholesalers who are kind of just scraping by is one thing.
And here’s what it is. It’s leveraging the deals. What does that mean? What happens is so frequently wholesalers, especially new wholesalers, will adopt the anxiety of the seller and the motivated seller to sell the property quickly. So let me say that again. What happens so frequently with wholesalers is as a wholesaler, they adopt the anxiety of the motivated seller to sell the purchase agreement quickly. This is a huge mistake. This is what successful wholesalers have figured out. The name of the game in wholesaling is to find a discounted property. Once you do that, the world is your oyster, so what you have to do is as soon as you get a property under contract and you want to move as fast as possible to do that, you want to slow down, slow down. As soon as you get that property under contract, slow down.
Do not adopt the anxiety of the motivated seller to sell the purchase agreement quickly. That would be a huge mistake. Now, how do you know if you’re guilty of doing this? You will see that the paper that you have the purchase agreement, and if you don’t know what wholesaling is, we find a discounted property. We put the property under contract and then we sell the contract. But what happens so frequently as new wholesalers is they’re anxious to get that property sold, that piece of paper as soon as possible. The truth of the matter is you have all the time in the world. Take your time. You want to get highest and best for that offer. If you’re not sure if you’re doing that or not, look at your assignment fees. If they’re very, very low, that means that you have a small cash buyer list and you’re rushing to sell that purchase agreement.
So what I want to give you today is key information for really exploding your wholesaling business, truly exploding it and turning into a job, into a business, turning it from a job into a business. And the reason that you want to do that is because deal flow is just as important as cashflow, especially when you’re automating a business, a business that is a servant to you, and that you are not a servant to. So what do you want to do? Here’s the rules of the game. As soon as you get a contract, as soon as you get a house under contract, you want to slow down.
First rule, don’t tell anybody about that deal. Don’t tell anybody about that deal until you tell everybody about that deal. Now, some people have a lot of anxiety about that, right? They, first of all, they’re excited about a new deal. They want to tell everybody, right? They want to tell buyers they want to get their opinions. What do you think? What do you think? You know, help me give me a price, and they’ll say something like, Oh, well this buyer is such a proven good buyer, so I don’t mind having them take a peek. No, don’t do that. All your buyers find out about your property at the same time. I’m going to say that again. All of your buyers find out about your property at the same time. It’s crucial that you have a big cash buyer list and that is going to be a key in this.
Now, how do you get as much money as possible for each deal? What you want to do is, as you have that deal under contract and you let all of your cash buyers know about it at the same time, now you want to go for highest and best. And what some people will do is they’ll say, well, you know, that’s really scary because I might offend some of my cash buyers. Well, here is the deal. Who cares? Cash buyers are a dime a dozen. Cash buyers are everywhere right now for wholesale deals. So take your time. Don’t take the first offer that comes in. A great way to do that is to put somebody in between you and the buyer. Don’t allow your buyers to communicate directly with you. Hire a disposition manager. This way they can’t say, Hey, you know, you know Tom, I love this house. I want to make you an offer. Don’t even communicate with them. Put somebody in between you and the cash buyers.
But that is the secret, guys. The secret is if you want biggest assignment fees and the most deals possible, you need to leverage every deal for as much money as possible. The way to do that is do not adopt the anxiety of the motivated seller in their need to sell the property quickly. It’s a huge mistake. It happens all the time and you’ll see new wholesalers do this. They’ll put a property under contract and they’re just as anxious to sell it as quickly as possible as the seller is. It’s a huge mistake. So try to avoid it if you can. All right, awesome. It’s been, it’s been awesome spending time with you. I wanted to share that quick tip, so have a great day.

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