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Most Important
On Average, 60% of the Buyers you connect with WILL BE INTERESTED in your deal.
Use Wireless 1 in InvestorBase, this is the number with the best success (this is the first number we give you).
Call the same buyer 3 days in a row. Increases response rate by 15%.
Each time you call, do a double-call + voicemail + text. This will increase response rate by 20%.
If you aren't willing to do this, you will not be successful with InvestorBase. This is what the top users are doing and they're finding amazing results from this process.
Key Elements For Success
1. Reference their previous deal AND your deal within the first 20-seconds
- a.Make sure to have researched the previous deal they did in InvestorBase.
- b.Let them know you did your due diligence on them (and make sure you actually did your research!).
- c.Tell them why you think they'd be interested in this deal.
- d.Ultimately this will lead to it being a more engaging conversation.
2. Reference that they are one of the FIRST people to see the deal
- a.This is a hook! It makes them feel special.
- b.No Buyer wants to be the 500th person called on the last day of the inspection period.
- c.No Buyer wants to compete with the entire marketplace.
- d.This makes them feel special and incentivises them to act quickly.
3. Reference that you are looking to move it quickly and it won't last long
- a.This increases urgency.
- b.It increases the likelihood you'll sell your deal.
4. Create the Landing Page for the Deal prior to running your campaign
- a.The 1st thing a Buyer says after they say they're interested is: "What are the Details?"
- b.SOP: Copy the landing page URL and share the landing page WHILE ON THE PHONE.
- c."I actually just sent you a text with all the details, do you mind clicking on that to make sure it came through okay?"
- d.Now review the details of the deal WHILE they are looking at the photos.
5. Mention you have more deals coming down the pipeline
- a.This will increase their offer amount.
- b.They will get closer to your asking price, in hopes that you'll call them for your future deals.
- c.Another way to frame this: "I actually dropped a lot of money on marketing here in [Subject Property's City] and I don't have a lot of great buyers here yet. If we can get this one done, I'd love to get you the other ones I'm working on as well."
6. Get their email AND the date they'll be responding to you!
- a.You need this for your follow-up campaigns.
- b.Make sure to follow up with more information.
- c.Then ping them again if they don't reply.
7. Make sure you've added the buyer to your Buyers List so you can take notes and update their buy box!
Text Template You Can Use
Hey (Buyer Name), this is (First and Last Name) with (Company). I'm actually looking to sell a property in (City/Area) and I saw you (flipped/purchased) (Address) close by. I wanted to see if you were interested in this deal before I sent it out to my network. Let me know! Thanks.
Template Script You Can Use
Day 1: Call phone number 1, back-to-back, leave VM and send a text. Move on to the next buyer.
Day 3: If you haven't secured enough interest, repeat with buyers that you were unable to contact.
Wholesaler:
"Hey [Buyer Name], this is [Your Name] with [Company Name]. I'm actually looking at this deal you did over here at [123 Main Street]. [Pause]. [IF THEY SAY YES]…Awesome, well I have a great deal right around the corner that we are looking to sell this week. You are actually one of the first people I've reached out to and I wanted to see if you're interested in buying another [flip/rental] over here."
Buyer:
"Yeah, sure I'd be interested, what are the details?"
——[Send them the Landing Pages link via text WHILE ON THE PHONE. Be prepared to share high level details of the property, Address, Beds, Baths, Sf, Reno Estimate, etc] ——
Wholesaler:
"Yep, if you look at your texts, I just sent you the link with all of the details of the deal…Did you get that?"
——[You NEED to keep them on the phone while they look at the details]——
Buyer:
"Yeah I can see them"
Wholesaler:
"Great, did the pictures come through alright?"
Buyer:
"Yes, looking at them now"
Wholesaler:
"Awesome, well I'll share some high level details, it's a [3 bed, 1 ba, 1500sf house, needs a new roof, HVAC, etc … insert whatever pertinent information], I have ARV at [$XXX], so I think it makes for a great [Flip/Rental]"
Buyer:
"Got it, what are you asking for it?"
Wholesaler:
"We're asking [Asking Price]"
Buyer:
"Okay, we'll let me review the details and get back to you"
Wholesaler:
"Awesome, do you have a timeframe of when I should expect to hear back from you? Because you are one of the first people I've reached out to, it's not listed, it's not blasted out. I'm reaching out to you first because I know you are legit based on [123 Main Street] and I'd like to get this deal done fast. But that said, I will need to reach out to some more buyers, if I don't hear back from you soon. If you could get to our asking price today, we'd like to pull the trigger! Happy to get you inside ASAP if you'd like."
Buyer:
"I can probably have an answer for you tomorrow"
Wholesaler:
"Okay, any initial thoughts based on what you've seen so far?"
Buyer:
"Seems like we'd be close, but I'd need to get inside first"
Wholesaler:
"No problem, I'll share this as well, if we can get this one done, we have a lot more deals coming down the pipeline that I'd like to get over to you. Let's focus on this one first, but I would love to knock down a couple with you after this one!"
Buyer:
"Sounds good"
——[Conversation at this point turns to information gathering]——
——Next steps could be any of the following——
Questions to Ask The Buyer If They Are Interested
Record these in the buyer's "notes" section inside of InvestorBase's Buyers List feature.
- •Do you pay cash or use debt?
- •How quickly can you close?
- •How quickly could you inspect?
- •Is an EMD of [$XXX] an issue upon signing an assignment?
- •How many inspections do you need?
Try to receive a tentative offer
If the deal they did is very similar to what you have, a good way to flush an offer is to reference what they paid for the other property.
Wholesaler: "So this one is actually really similar to the deal you did at [123 Main Street], do you think you'd be around that same price (Price they Paid + Possible Assignment Fee…See Below) for this one?"
- Primary Market: Add $20K
- Secondary Market: Add $15K
- Tertiary Market: Add 10K
Explanation: County Records will show the AB price and will NOT include the assignment fee (if there was one). A lot of these Flippers or Landlords could have Purchased the property from a wholesaler, in which case the price they paid would actually be higher than what InvestorBase shows. To account for this, we recommend adding by the numbers above…If there wasn't an assignment fee, they will correct you, but we don't want to sell ourselves short.
Give Access Instructions
Schedule Inspections
Get Information on Highest and Best Date
Collect Email And Best Way To Contact
Objections/Answers They Might Give
Buyer:
"Send me the Details, and then I'll take a look"
Response:
"I actually just texted you over a link with all the details. Do you mind checking to see if you got that?"
ALWAYS HAVE THE LANDING PAGE READY TO SEND – TRY TO HAVE THEM REVIEW THE DETAILS THEY ARE ON THE PHONE WITH YOU
Buyer:
"I'm not buying right now"
Response:
"That's totally fine. In the future, what's an ideal house you'd be looking to buy. And do you know when you'll be buying again?"
Add this information to their InvestorBase buy box
Buyer:
"How'd you get my number?"
Response:
"I use a software tied to public records that identifies flippers and landlords. I got your contact based on the deal you did at [123 Main Street]"
Buyer:
"I actually lost money on the deal I did over there"
Response:
"Well I can tell you there is plenty of room for you to make money on this deal I have…[share details]"
Buyer:
"Not buying in that area anymore"
Response:
"Well I can tell you there is plenty of room for you to make money on this deal I have…[share details]"