All right, we had a fall. We had a false start a little bit ago, but we’re good to go. What’s going on? Colin, how you doing? Doing?
Fantastic.
How are you doing? Good man. So we’re diving into a problem that a lot of people have, as they do, the traditional wholesale model, and we’re going to explain what that is. But the problem is, today, dealing with real estate agents that are tired of hearing the same old, same old, right? They’re probably tired of hearing, hey, let me understand the situation. You want to get as much information as you can from the agent so you can, you know, make a good offer, but you almost feel, and we all feel, that they just don’t want to talk to us, right? That happens a lot, I’m assuming, pretty much. So, yeah, let’s kind of dive deeper into that. So you’re in a scenario, tell, tell everybody kind of the scenario you’re facing that we’re kind of going to deep dive into seeing how we can make it better by making better offers or trying to get tighter with the agents. So yes, kind of tell everybody what you’re doing right now.
So doing agent outreach, trying to make contact with just agents in general. See if they have any pocket listings, see if they have anything that’s been sitting for a while or something that is coming up that you know needs work and trying to build a relationship. Keep in touch if they don’t have anything, try and keep in touch with them regularly through automated messages and get deals out. Right now, we’re having problems just getting agents that are motivated still to work with investors Right, right? Because they probably had all gotten low ball. They probably all brought their offers to the the sellers at this, like, with their specific deals, and the sellers are just sitting there and, like, I’m not taking any lower than they just sit there, right? Yeah, or at least at the point where you’re coming into specific deals, okay, so that’s, that’s, that’s a scenario that you’re facing.
Oh, yeah. Another issue you’re having is when you do the process of, you know, reaching out to the agents, and then they get on the phone with you, you talk to them, you build the rapport, but then they just start sending you crap, like MLS stuff. They’re not getting it in their head that you just want them to send you their pocket listings. They just send you a bunch of, bunch of stuff from other wholesalers, right, right?
That’s the biggest thing, actually, is them sending me other wholesalers deals. That’s the most common thing I’m getting. And
then you’re like, Well, look, I’m scouring the MLS myself, and I already know about these deals. Or I can get them like, there’s really no value they’re bringing to you by just sending you crap. That’s, you know, on the MLS, right, correct? So let’s, let’s address number one, the one of the issues, okay, and how we can overcome it, or at least do a better make better offers, right? So you have an agent that brings you a deal, and normally good, thank you.
Thankfully you don’t do this. But normally people just make an offer, and it’s like a low offer, and that’s it, right? They’re just like, hey, this is my offer. Some people just send out Letter of intents that are really low, and they think agents will call them back and be like, hey, I’ll accept your offer. Doesn’t work, okay, but that’s usually what people do. Thank goodness you’re not doing that. That is a big problem with traditional wholesaling is people just like make tons of offers that are low ball, hope someone calls back, and then they lock it up, don’t have a buyer, and then they go find somebody.
Don’t do that. It’s gonna be waste your time. You’ve done good because you’ve done a step, obviously better than that, because you have them reach out to you, and then you try to understand the situation of the the seller, as far as you can tell us, tell us a little bit about the process that you’ve been doing, where you reach out to the buyers in your area that flipped properties.
Yeah, that process basically. What’s happening is, if I do have some potential with an agent, they have either that off market deal that they just came across or something along those lines, I’ll get an idea of where the seller wants to be. And then before, or even if I can’t get that information, I’ll get as much information as I can from the agent, and then I will go use certain software look up any kind of flips that have happened in the neighborhood or in the area or in that same general vicinity. I used to try and find the rehabber or the flipper directly. I found that when I call them just randomly like that, they tend to be caught off guard and uncomfortable with it. So now instead, I go find out who the agent was that sold that rehab contact them and just give them a general Hey, do you work with invest i First I start with asking if the flip they sold was theirs, if they did the work.
Because some I’ve run into that sometimes agents did their own work, or I’ll ask them if they work with that investor regularly, things like that. And then they use, they’re very receptive. They they’re always on the hunt. So, yeah, yeah, contacts with multiple investors. So I’ll get them the information that I have, and then they’ll get back to me on where the usually the number that they would want to be at. And I just haven’t been able to make that work yet, but that’s what I’m trying perfect. So one thing I’m assuming you’re doing this, but this is for people that are watching when you’re talking to that agent that has the listing that says, like, they’re letting you know where they’re they’re by their seller is right? They’re like, they’ve been beat up so many times.
They’re like, dude, no one’s they’re not going to accept lower than 110 don’t even waste your time, right? So they’re kind of giving you that that information. One thing I would ask is, hey, is there anything outside of price that is important to the seller that we could do so we can make. More aggressive offer. What that does is that usually gives them their timeline. Maybe it gives them, like, you know, something that’s important to them, like leaving some of the stuff, doing a post possession, doing some stuff outside of price, because price does not always win deals. And this is an example, like, I just bought my house here. Most of the offers that are going out here in Canada are contingent, right? Like, you can make an offer at asking, but you have to sell your house in order for that to work, and the person that’s buying their house has to sell their house.
So it’s just like a web and a domino of like, tear like, if one person doesn’t make it, like, everybody falls, right? So it’s very uncertain. So if you can understand, like, certain, like, they want certainty, they want speed, they want convenience. They want a large earnest money deposit, like coming in with a lower offer, even though they’ve been hit in between. You know, the legs multiple times of low offers, if you can come in and understand what they need, and then go to, as you just did, the strategy, and they’re saying the other agents like, hey, my buyer could do one 100,000 right? For example, you would go to them and you’d say, hey, that’s totally cool. But look, I’m just gonna be real. That’s, uh, you know, they’ve been hit with that multiple times. Is there anything that you can add to make your offer more aggressive? Ton of earnest money down, like, 50k 100k whatever.
How soon does he even need a due diligence period? Can we close in, like, three days, two days, so something like, very aggressive. So it’s like, may, might be the same offer, but it’s hitting again. Because what, what happens with the agents on the MLS is, like, even if they’ve been hit with a low offer multiple, multiple times, like that new low offer, they’re going to work with that new low offer. Versus, like, let me call that person who low balled me like, seven weeks ago. They’re they’re done with that person. They don’t really think about that person that, like was a while ago. Does that make sense? Like they want to work with the person that’s new, just because it’s in front of them? So those are the two things that I would add, because I just, again, I just bought a house, and my offer was the lowest offer, but it was not contingent. It was very quick due diligence, lot of earnest money down, non refundable, and closed exactly on their timeline. And you know what the interesting is, sometimes a quick close is not what people want.
Sometimes people want a long close. They want to have time to move out. You know? They don’t want to just have to be out in like seven days. So that’s why understanding what the seller needs is really important, because you can build something exactly to what their needs are. So again, those are the two things, find out what it is and see if the the buyer, that your agent, the buyer, whoever you’re talking to, can do that, or what else they can do that would make it juicy that you you never even thought of. Maybe they know something that you don’t that’s like, pretty appealing in that area, right? Yep. Do you think something like that might help like, to get like, uh, improve your offers when you’re doing this, absolutely okay.
So that’s, that’s another thing. Now I would say, really other than that, like, if you run that process and the seller is still not, you know, being realistic, then the follow up game makes sense. And then just the hard thing is, like, you kind of want to reach out to some more buyers, but you also don’t want to waste your time, because you you feel like the seller is unrealistic. So it’s almost like, Okay, let me just follow up and just know that the seller’s not ready yet, but we’ll be there when they are, and then you can leave that discussion be like, hey, well, I’m ready to go. You know, I’m going to keep following up with you, but will you let me know? And I hate to let me know, agents, they forget, man, I feel like they do not remember.
They don’t remember people. Because I just sold my house, like my other house in Utah, and we had multiple people that offer, but, like, we didn’t really think to reach out to them, because it’s like, that’s like, a week ago, it’s like, a major amount of time where you’re like, hey, we don’t even know what they’re up to. Now, let’s just continue with what we have. It’s weird, but that’s just how agents think. Okay, so let’s, let’s go over the next the next issue, and it’s agents sending you trash, right? Like other wholesalers listings, other what’s the word? Not other wholesalers listings, but like stuff that’s not even theirs, right? Not their pocket listings. Yeah, so
I’m trying to update the initial outreach SMS messaging so they get more of an understanding of what we’re trying to do. But there’s a follow up whenever they bring me something that’s not their listing on market, whatever I do have a follow up message where, you know, I kindly, politely tell them, you know, we’re looking at the MLS every day. Anything you send us is out there. We’ve probably already seen it. So it’s whatever I feel like, they’re not that quick on the uptake.
You know, what I feel like they do is they just take all the investors they talked on the phone, they just put them in, like, a drip or, like, you can’t, like, I can’t auto campaign. And that’s not what we’re looking for. We’re not looking to get into your campaign system. So this is what I would suggest. It’s like, and it’s manual, it’s very manual, but manual labor, but you it’s what makes the difference, right? Because not only do you have Astro blaster and there’s other softwares, but there’s a ton of them, other people that have it. I would assume that, like, lot of the same as messaging is kind of going out there right now, like, hey, just bring me stuff off, you know, pocket listings, blah, blah, blah.
Now who are they really bringing the pocket listings to? They’re bringing the pocket listings probably to their broker, probably to, like, their dad that, you know, buys properties like people. They know. Okay, so how do you get on that level? I’m about to show you, like, a this is a mind map that I created off of listening to, like, the teachings of a guy that does this, like, all in one market. This is all he, like, specializes in, like, his main focus. So this is his process, and I thought it was pretty good. I’m not, like, super into agent outreach. I like to work directly wholesalers a little bit more, just because they understand the process, but this is what He taught. So I’ll give you some pointers and some suggestions, and you we can kind of vibe, and you can tell them what you think. All right, so you pick one market, and then you network with a couple solid cash buyers.
Now you go directly and do the the neighborhood technique, where you find the buyers. I think that’s totally cool, but as you do that, you’re going to build more relationships with cash buyers or agents, so you’re good with that, you’re going to identify potential listing or agent to reach out to, right? So you’re going to be able to do that through your process that you’re doing at the moment, where you’re reaching out to agents and saying, hey, send me stuff, right? Or you could specifically go hit up a property that looks like it’s, you know, what is that like, one that looks like a decent opportunity, and call them directly. But I think your process is fine because it reaches out to more people.
So when you call the agent to make an offer, you make a discovery call to the agent, and then there’s a certain script out here that I like, I can share with you, but you have a script to talking to the agent, you analyze the property, and you send offer terms with and this seems this is his process, right? He’ll send an offer and fall through that process, which we, we both talked about, like, hey, if the offer, like, unless you really know if the offer is decent, it’s probably not going to go anywhere, right? Like, if it’s not, like, customized, what he does is he takes this agent and he adds it to a CRM, and he creates a list entitled real estate agents. And next thing is he adds a note into the CRM about the conversation. After he has that conversation, he puts him in the follow up drip for 30 to 90 days to follow up on that that property actually called about. And then this is the thing that I actually like most of the process, is he sends them a friend request in a LinkedIn connection.
He says, You establish a facial recognition and you’re now present and their news feed and with their feature and feature content. So it’s interesting, like, if you start making more content, or just about like, what you do, how you buy houses, like, it will appear more, and they’ll get to recognize you a little bit more. Now, I don’t know if you want to get on that level and have them be your Facebook friends, but I could see that getting one step above. Then, you know the the wholesalers just like, Hey, call me if you have anything right, or just email me if you have something. After that, they text their cell phone number and email them saying, Hey, thanks for taking my call. This is my cell. You give them your cell phone, not like your CRM, but your your actual cell, your buyer box shirt. Here, you do that. You sign your text with who you are, and you can email them also your contact information.
Now this is like, this can be automated as well, but it’s just like an additional steps to be personalized. This guy also says he suggests catering his social media to real estate, like real estate, like just talking about real estate. So when they do become friends with him on LinkedIn and Facebook, they’re saying that you’re active in the in the real estate game. He tags the agents depending on if they’re willing to like call him directly, or if he’s gone through this process with them, with VIP. And then he’ll follow up with those more regularly, if they’re a VIP agent. And let’s see, this is what I think again, is like the sauce is, what value do you provide to the agent? Because the agent’s not going to really remember you.
They get a lot of these calls. It’s like, Hey, will you add me your cash buyers list and send me whatever you got like you want to be like, their their go to person. And how do you set yourself apart from that? Well, you have to provide massive value to them that they say, okay, this person, like, is really worth calling. Out of like, the the 10 people have called me, or the 100 people have my list that say they’re cash buyers. You want to let them know. Look, Hey, um, not only do I buy properties, but I have, I literally am on the MLS, and I’m networking with cash buyers every day. So if you have something that you want, like a 24 hour commitment to make an offer, if you send it to me, I will, I commit that I will make you an offer within 24 hours, and you’ll know, you know what, what your seller could get on a cash offer like that.
Plus, I’m not only going to run it by me, but I have a couple people in my network that I could kind of get, get you an idea. Why is that valuable to a real estate agent if they’re talking to a seller and the seller’s like, I might want to list it. I’m not sure if I want to list it. Can I would like to sell for cash. And the agents like, Well, hey, I know a guy that you know. I know someone that I can get you an idea of what a cash buyer would pay before we even list this. That’s something that a service that you could provide to that agent. And if you let them know that they’re you’re going to go a little higher up on their list already, right, explaining to them the opportunities to work with you. Now, I know the double dip doesn’t always work like in all markets, but it does in Canada.
I just that’s how I think I got this deal as well, because my offer was super low compared to, you know, the the competition. But I said, Hey, I’m unrepresented. I let her know that, and I said, if you represent me, you can take my side of the commission. You can get paid on both sides, or you can just give the seller discount. She didn’t tell me what she was going to do, but seemed like she was just going to take both sides of the commission. Now, if it’s a flip, they get a triple dip, right? They represent they sell. They make money for selling the property to for the listing, the property for the seller. They make money from representing you. And then you, if you’re going to flip it, you would say, yeah, you can represent me when I flip it too.
So they tripled it. And they’re like, they’re super excited about that. It’s like, Oh, dang, I just made three times the commission. I’m definitely gonna go push for you. Now, this is a little hot, like, higher level, but if you speak of brokerages, yeah, a lot of the agents are gonna get to know who you are. If you’re like, hey, this is what I do. This is what I do with investing. And this guy goes above and beyond. He makes a weekly a monthly newsletter providing value to agents in his network that he talks to. So he like, Hey, do you mind if I add you on my investor newsletter? So I can kind of give you some more information on how we help people follow along. So I believe that if you’re talking to these agents, and most people I know because I’ve done it in the past, they’re just like, hey, will you just add me to your cash buyers list and let me know if you have any property properties that you come across. That’s the most that like, I’ll say sometimes, and I know that’s the most some people are saying.
But if you can really make it juicy, be like, Look, I’m unrepresented. I scour the MLS, but if you come across anything that you get, not only will you know I’m unrepresented, you could represent me the transaction, but sometimes, when I flip these again, I would rather go with you, because you brought it to me. You can make triple the commission. I’ll honor the commitment that if you send me anything, I will get you an offer, a cash offer, within 24 hours. So you can tell your seller where they would be at if they just went with a cash offer. Then obviously you’re going to make money on that. I also have a big cash buyers list, and I Yeah, and then these two things. It’s whatever. I wouldn’t, not really focus, but these are the three things that I think will get you higher on that list. Does that make sense? Yep. So I just want your feedback.
That was like some notes I took, and I said, Okay, that’s pretty good stuff. Are you doing with some of those things I talked about? Or what do you think? What do you think I’m trying to remember everything we just went over, but I would say I’m doing Facebook requests and LinkedIn requests and just texting them from your cell phone and basically just letting them know, like, the value provided those three things, that’s kind of like the JC, no, I would say I’m not doing any of those. Okay, totally get it. Man, it’s a lot of extra steps, right? And it’s usually not automated, but really, what you’re thought of before, okay? And that’s why I wrote it down. I was like, it’s pretty smooth, right? Like, because really, what you’re trying to do is you’re just trying to keep them.
You’re trying to have them have you at top of mind. Because I know, I know how agents work, man, like they have when they build a relationship, they’re sending all their their cash buyer stuff to like that one guy who they’ve just already done a deal with and they trust, or their dad, like I said, their dad, or their friend or broker. So in order to break through, you really got to make an impression. And how do you make impression? We you you serve. That’s how you can, like, build relationships with people as you give, yeah, instead of just like, hey, just send me what you got. Like, that’s like, a very it’s not a very balanced relationship, right? If you just meet someone, you don’t know them, and you’re like, hey, just send me what you got, or send me your send me your best deals. They’re just gonna, they’re gonna put you in that drip.
And that’s all, that’s it, yep. So, um, yeah, I’d like for you to try that. Like, as you go through this, you have this process, I think it’s a solid process. With the blaster thing you’re using, it just needs little tweaks to to be, uh, set apart, yeah. So let’s just kind of review what we talked about first, first, we talked about making really, finding out what would really tip the scales for the seller outside of price, and then finding out how aggressive those agents buyers can be with their offers, and seeing if that does anything right. And then it’s going up off after you talk to these agents, when you’re doing the process Facebook friend request, make maybe a live once a week, or make some content once a week, talking about your business, like what you do.
I think you got a cool story. You’re in the camper, you’re doing that, and you’re investing That’s dope. I think some a lot of people resonate with that, and so make some content around that. So when they see that page, they can check you out and then explaining to the agent. What makes you different than the 100 other cash cash buyers that they would that they can buy their property? Isn’t that super valuable? Like they’re sitting in front of a ton of sellers, and seller, I know this conversation comes all the time, like, what would it look like for a cash offer and you’re saying, hey, I can get you that info within 24 hours. I think they’ll call you like, they’ll they’ll take you up on that. Yeah. Oh, cool, cool. Well, hey, that’s why I wanted to get on the phone. Now I understand a little bit more about your process. I like it. I think it’s good. That’s the thing with like business. It’s not usually like these, her mosey calls it like little BBs right there. It’s not just like one big, giant, quantum leap.
It’s usually like the little tiny things that make the big difference. So we can, we can see how that goes. Cool, cool. Well, everybody that’s been watching this just wanted to go live, because this is a conversation. And I would say this is something a lot of people are facing, me included, right? Like, sometimes we just get in the rhythm just being like, Yeah, send me what you got. But it’s a relationship game. It’s not it’s quality, quality, quality over quantity. I had a CRM that. That would just blast out Letter of intents, and I sent out like 1000s of them didn’t get a single deal, because that’s just not how it works. Like people an agent, even if an agent gets a low cash offer, they’re just going to be like, well, I might as well just call John. And my brokerage, he paid the same thing. And I know John, right. So that’s kind of like what they’re doing with it. And we got a we got FOD coming in. Thank you always giving extreme value. Thank you. I appreciate you. Anything you want to leave everybody off with Colin, anything you want to say, No, I’m good.
All right, well, let’s get after it. I appreciate everybody that’s watching it. And if you guys are out there doing the traditional wholesale model, where you’re just making lowball offers and hoping it works 70% of ARV and just hoping it like that’s, that’s how you’re going to get a deal. Doesn’t work. Okay? That’s, that’s traditional wholesaling. You don’t have a buyer, you just try lowball offers, and then when you get a deal, you just try to blast it out crap. Don’t do it. We actually have a website called traditional wholesaling sucks.com. Check it out, because that’s that’s not what we’re teaching you guys to do.
That’s not what works. What Works is relationships, making bomb offers and leveraging cash buyers to make the best offers as possible. And yeah, that’s it. So we’ll catch you guys in the next one. Thanks Colin for being on here. Man, appreciate it. Thank you. Hey everybody. What’s up? It’s Nathan Payne, and for the first time ever, we just released this insane training bundle that has literally everything that I learned from doing a combined 4000 deals in real estate, all from starting with absolutely no previous business background experience or any real estate experience, plus there’s over $19,000 worth of free gifts that we’re throwing in, all for insanely low, low price. If you want to get your hands on this, be sure to click the first link on the description below right now.
