Let’s go by the end of this video, you’re going to know exactly what a seller’s market is, and if we’re in one currently, at this moment, check it out. So stay tuned, because today we’re going to be talking about what you need to do in a seller’s market to make money.
What does a seller’s market mean for investors, fix and flippers, rehabbers, wholesalers. What does that mean? How to pivot your business in a seller’s market so you can capitalize on the opportunities and how to make the most money as a wholesaler in a seller’s market.
Number one, a seller’s market is exactly what it sounds like. The sellers are in charge. If you have a house that you need to sell, you are the hot commodity.
You’re the hot girl in high school. Everybody wants your home. And that is because there is very, very low inventory.
That means that there’s not a lot of houses on the market. In a seller’s market is literally, you can take a house that is destroyed, it’s trashed, it’s not in good shape.
But if that house, and there’s one other one in the whole state, people are going to want to buy it because they need somewhere to move.
They want to investors, either want to flip things and guys, I got a crazy story for you about a sell the seller’s market, and how you can sell pretty much anything in a seller’s market, especially as a wholesaler, where you’re trying to find discounted properties, you usually have to fix them up or wholesale them to a fix and flipper.
But what we did most of the time in the seller’s market is we just put them on the MLS and someone would pay top dollar for some houses that we had, and I’m gonna dive a little bit deeper into that later on, some pretty interesting experiences of houses that we took, that we sold and that I didn’t buy, or I didn’t take over because I thought they were too bad, and someone else ended up making, like, $100,000 so don’t forget that number two, Over the last two years, you know that the pandemic has shot up the amount of value of properties that’s gone up everywhere.
And the reason why that was is because less people were selling and more people were buying. So now, if you guys understand the laws and economics and supply and demand, that’s exactly what happened.
The supply was low, the demand was super high. If the supply, if there’s 1000s and 1000s of homes on the market and there’s like, three buyers, then it reverses, right? That’s why everything just went inflated.
That’s why everything went up and plus, interest rates were super low. So tons of buyers were like, I’m ready to buy now. So sellers like, yeah, I got a deal. I got a property for you.
Then 100 people walked through the house, and then they had to compete against each other.
So when you’re a seller, being in a seller’s market is great, because you get as much as you can. You have a bunch of competition, a bunch of bidding wars. But as a buyer, it was not good. And I know, because I have a rental that the renters in my basement, I rent out my basement, and they could not find a property.
They made tons and tons of offers. So when, over the last two years in the pandemic, they were in a situation where they were struggling, but they ended up finding something and overpaying by like, what 30, 40,000 is honestly ridiculous, but that’s what happens in a seller’s market.
Number three, being a wholesaler or a real estate agent in a seller’s market, you are able to pretty much take any deal, you find and sell it, just because you know all the people want your house.
Okay, so what we were doing over the last two years is pretty much taking any deal and either selling it to an investor or taking it and putting it on the MLS and letting a family buy it, and then you would have a bidding war. And I can’t even tell you guys the amount of homes that we sold that just did not even make sense.
It was honestly crazy. We had this house that it was super outdated. I think we got it for like, 350 and we ended up selling it for 450 didn’t put any money into it. Well, we actually did clean it. We hired a cleaning lady for, like, $200 so we bought it, hired a cleaning lady, and then sold it, and it was like $100,000 difference.
And obviously we don’t get to keep all that right, because you have fees and you have agent costs and hold holding costs of like, utilities, but it was still a great deal. And is an interesting story about that deal. Is the seller that we bought it from moved out and left a ton of stuff in the house. And what I even did is I said, Hey, there’s a lot of valuable stuff in here.
There’s a bunch of sheds in the back. There’s a bunch of it was just random stuff. They had, like a heater, like a space heater, they just had random things. So I put all that stuff on KSL, which I’m in Utah, so that’s like our Craigslist, but I put on Craigslist, Facebook marketplace, and I sold all this stuff.
And on top of just selling the house for without doing anything to it. I sold the junk. I’m not No offense, but I sold the stuff that left in the house for like, two, $3,000 and it took me a couple hours.
So it being in a seller’s market is wild, because you not only can you sell a house that needs a ton of work, you don’t have to do anything, but you can also sell the stuff. In the house. No, not, not saying that you can’t sell the junk and of that someone leaves behind, like in a buyer’s market, or ever I meant, but I just, I’ve just found it really easy to sell things.
And that’s probably just because, you know, over the last two years, people had more money, you know, they’re getting stimulus checks and all this stuff. But anyway, crazy times, and that’s how we were able to work in that seller’s market and sell houses before I move on to my next point, I want to give you something for free. Out of the bottom of my heart, I want to give you a gift that I have spent so much time and energy building just so I could help you guys succeed.
I have built a mind map. It’s called The painless wholesaling mind map, and it literally lays out step by step every process to do a wholesale deal or even fix and flip a property guys, I did this because I built it for my own business, and I wanted to have all the systems and processes the SOPs down for my business. And I just giving it out because I don’t think I just need to hoard all this information for myself.
I want to give it to you. So go ahead, click on the link. Check it out, because it’s going to help you, whether you’re in a buyer’s market or seller’s market’s going to help you succeed and get more deals.
So go check it out. So now you’re probably wondering what market we’re in right now, guys, what’s happened with the interest rates rising and people pulling back and not buying as many properties, and there’s more properties on the market, we’ve transitioned into a buyer’s market. So if you’ve seen my previous video, what the difference between seller and a buyer’s market? I’ll just kind of wrap it up and tell you right now a buyer’s market is when there’s a lot of properties on the market that people can sell, and a seller’s market was, there’s low inventory.
We’ve transitioned because of the interest rates, less people are buying. And when we were in a seller’s market, as you’ve seen, there’s tons of buyers, tons of people want to buy, but there’s not enough property.
So unfortunately for me, and for a lot of flippers, if you bought a property within the last year, you bought it around January, February, March, and you flipped it, and now you’re trying to sell it, you’re seeing that the house that you flipped probably isn’t selling for what you wanted it to.
Because, you know, there’s a ton more properties on the market, and we’re in a buyer’s market.
So I’m fortunate for me, but again, I’m positive, and I know if you want to be successful in business, you got to pivot.
That’s why I’m doing these videos, so you guys can pivot and take advantage of the market right now.
So this is a shout out for all my wholesalers out there, real estate agents.
What do you do now that we’ve left a seller’s market and now we’re in a buyer’s market? What’s the game plan? Well, guys, if the sellers are the hot girl, the hot commodity in a seller’s market, and we’re in a buyer’s market.
Well, who’s the hot commodity? The buyers. Okay, so if you’re a real estate agent, go find people that are still willing to buy, families, friends, that are still willing to buy, even though the interest rates are high because they need to move. And if you’re a wholesaler, a real estate investor, go find the real estate investors that have been piling up their cash, that do not care that the interest rates are high because they have cash and they’re not afraid.
They want to take advantage of the market shifting. That’s how you’re going to do it. You’re going to go attack the buyers, find the buyers. And there’s so many different ways you can do it.
So this one is especially for my wholesalers out there. So how are you going to make money right now? Now that you’re in a buyer’s market, what do you do? Do you continue to spend tons and tons of money on sellers and marketing to find sellers? No, that’s not the play, guys. There’s sellers everywhere right now.
I’m a motivated seller. Everyone’s a motivated seller because they want to sell their stuff. You don’t need to go spend a ton of money to go find them.
They’re everywhere. You can find them on the MLS, you can find them through other wholesalers that are still marketing a ton. You can find it from their deals and JV or wholesale or collaborate with them.
There’s they’re everywhere. Okay, what you got to be and what you got to find is buyers. And you got to be the go to person in your market, where people know they can say, Hey Nathan, for example, Hey Nathan, you got buyers.
I got some deals.
Can you help me, since I know you have relationships with the top buyers in the market out there, and say, Yeah, of course. And that’s exactly what I’m doing right now.
I have the best relationships with my buyers. I know exactly what they want, what they’re buying.
So when I see deals that come across the MLS, other wholesalers, deals, or even if I market, I’m very targeted to what they want. So I’m not wasting my time, energy and money and guys, the cool thing about it is, I used to have a large wholesaling business that had leads managers, acquisitions managers, that had the whole thing.
Now what I’ve done is I’ve trimmed down my business to a really, really low scale model, which just made a couple virtual assistants, and we look for deals, and we connect sellers with buyers for the wholesale fee.
And you can do it too, and especially get that mind map. It’s literally going to blow your mind. I took all the knowledge that I had over the last five years in this business, compiled it into a mind map to give to you for free.
Why? Because I want to give back. I wish I had something like this when I started, but I didn’t. So I made it for you because I care about you guys. So go check it out. You
