InvestorBase Buyer Outreach SOP
InvestorBase Buyer Outreach SOP
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InvestorBase Essentials
This is what the top users do to find amazing results from InvestorBase
Pull at least 100 Unique Buyer Results.
Hit every Buyer with a double-call + voicemail + text.
- •A double-call + voicemail + text will produce a Call to Contact Rate of 35%.
- •A single-dial will only produce a Call to Contact Rate of 10-15%
Do this 2-3 day in a row until your Call to Contact Rate is 40%.
On average, 50% of the buyers you connect with will be interested in your deal.
Prioritize Wireless 1 in InvestorBase, this is the number with the best success (aka the first number we give you)
This will produce a multiple offer scenario
20-30% Response Rate Text Copy:
Hey [Buyer Name]. I noticed the [flip/rental] you did at [Transaction Property Address]. I have a property right around the corner I'm looking to sell. If I don't hear from you I'm planning on listing on the MLS. Thanks, [Name]
Top Cold Call Tactics
1. Reference their deal and your deal within the first 15-seconds
- a.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.
- i.No Buyer wants to be the 500th person called.
- ii.No Buyer wants to compete with the entire marketplace.
3. Reference that you called them for a reason. You know they're qualified and you want to sell it fast.
- a.This increases urgency.
4. Send the details while on the phone.
- a.Landing Page
5. The CTA
- a.Option 1: Schedule a walkthrough
- b.Option 2: Find out when you should hear back from them
Bonus Tip:
Mention you have more deals coming.
They will get closer to your asking price, in hopes they get first shot at the others.
Script
Wholesaler:
"Hey [Buyer Name], this is [Your Name] with [Company Name]. I see this deal you did at [123 Main Street] and I think I have a perfect deal for you. [Pause]. [If they say yes]...Awesome, the address is [Address], it's a 3bd, 2ba, 1500sf, and we're asking [Asking Price]. You are actually one of the first people I've reached out to."
Buyer:
"What are the details?"
[Send details while on the phone]
Wholesaler:
"I just texted you a link with all of the details of the deal...Did you get that? Can you see the photos?"
[Keep them on the phone while they look at the details]
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 ... I have ARV around [$XXX], so I think it makes for a great [Flip/Rental]."
Buyer:
"Got it, what are you asking for it again?"
Wholesaler:
"We're asking [Asking Price]".
Buyer:
"Okay, we'll let me review the details and get back to you"
Wholesaler:
"Awesome, do you have a timeframe of when I should expect to hear back from you? Once again you are one of the first people I've reached out to so if you get to our asking price quickly, we'd like to pull the trigger! Happy to get you inside ASAP if you'd like."
Buyer:
"I can probably have an answer for you tomorrow"
Wholesaler:
"Great"
[Conversation at this point turns to information gathering]
[Next steps could be a combination of the following, but Ideally in order]
1. Qualify the Buyer - record these in the buyer's "notes" section inside of InvestorBase's Buyers List feature.
- •Ideally you have already prequalified the buyer in InvestorBase based on their 'linked deals' (current rentals and historical flip transactions), but additional details you must collect are below:
- •Do you pay cash or use debt?
- •How quickly can you close?
- •How quickly could you walk it?
- •How many inspections do you need?
- •Is an EMD of [$XXX] an issue upon signing an assignment?
2. Schedule the Inspection
3. Try to get a tentative offer
- a.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.
- i.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?"
- 1.Primary Market: Add $20K
- 2.Secondary Market: Add $15K
- 3.Tertiary Market: Add 10K
- ii.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.
- i.
4. Collect email and best way to contact them
Objections They Might Give
Buyer:
"Send me the Details, and then I'll take a look".
Wholesaler:
"I just texted you over a link with all the details. Do you mind checking to see if the pictures came through?"
Always have them review the listing on the phone with you.
Buyer:
"I'm not buying right now."
Use Linked Deals to objection handle.
Wholesaler:
"Listen [Buyer Name], I'm reaching out to you specifically, matter of fact, you're one of the first people I've reached out to because I saw the property you purchased on [123 Main Street], another one on [123 Oak Street], looks like you've got several identical properties over here. Did something change?"
Add this information to their InvestorBase buybox
Buyer:
"How'd you get my number?"
Wholesaler:
"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:
"Not buying in that area anymore"
Wholesaler:
"Well I can tell you there is plenty of room for you to make money on this deal I have...[share details]"
Wholesaler:
"That's totally fine. What areas do you buy in?"
Add this information to their InvestorBase buybox
Buyer:
"Not interested in this one"
Wholesaler:
"Gotcha, is it the price I'm asking, the location, or something else? Is there a price range that you would be interested in?"
The goal is to find out why.
If it is an area that you are unfamiliar with, you need to find out what they know about the area and see what they think about the price you have it at. Also, try to flush a range.
