Changing Objectives Can Change Results, Where The Money Is, Underrated Lead Gen Method

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Welcome To The Business Of Wholesaling Newsletter!

Every week, we’ll be sending you strategies, tactics, and tools used by successful wholesalers and we’ll cover any important market insights and news in the industry.

Here’s what we got for you today:

• Changing Objectives Can Change Results

• Where The Money Is

• Underrated Lead Gen Method

Today’s Sales Objection

Last week’s sales objection:

“I’ll talk to you when you bring me a buyer.”

Best answer: Get to their true motivations through questions. “Do you have a backup plan if a buyer doesn’t appear, especially before viewing the property?” Or “Have you told others the same thing and have you had many prospective buyers?”

Today’s Sales Objection:

“I want more money for my property.”

Reply with how you would address this objection and we’ll post the best answer next week!

Reply with your answers! The best answer will be featured in next week’s issue. 

Changing Objectives Can Change Results

After last night, there’s a fresh coat of snow covering the rooftops of homes in the neighborhood, the grass, the trees, etc.

It really does look and feel like a Winter Wonderland… until you realize you have to brave the cold to scrape ice off your windshields, and shovel and salt the driveway. 

Reminds me of when you have a fresh list of leads to dial.

There’s a slight dopamine rush, you’re thinking about all the deals that could come from this new list…

… until you realize that no one is willing to have a serious conversation with you. And you’re not making any offers today.

That’s just how some days are. Sometimes it feels depressing or discouraging, especially for newer wholesalers.

That’s why it helps to take a step back with your objective. 

Of course, the more offers you make, the more contracts you’ll land. 

When those contracts come through, that’s really out of your control. 

Some sellers seem serious at first but start getting flaky before disappearing. Only to reappear in several months… even a year later and actually get across the finish line. 

And some sellers who might brush you off in the beginning, are actually serious about selling.

But something about your pitch or the way you presented yourself on the phone, raised their flags. 

If you’re dialing and making offers with success, do more of it. But here’s an alternative perspective.

When you study successful people or investors like Warren Buffett, a lot of them bring up this one concept.

Delayed gratification AKA the Marshmallow test (look it up if you don’t know).

In a perfect world, we all would love to have a contract signed during each serious conversation. 

But that’s not reality, is it? 

In fact, that rarely happens (for most of us). That’s why they say the money is in the follow-up.

So instead of focusing on making offers (especially if you’re doing this solo), you can focus on prioritizing the relationship.

Instead of trying to get a contract on the first call, focus on establishing trust and building familiarity.

If they’re actually serious, you’ll find out in your second conversation. 

Even on the second call, it’s okay to delay the offer. 

Again, not saying this is the correct strategy, but one you could try. If you’re newer to acquisition and sales, a more indirect approach may be beneficial.

There’s a lot of feeling and intuition involved. On the second call, you have to really gauge where the prospect is at.

If you feel like they’re serious and just need a nudge, shift the conversation towards the offer.

If they’re still being flaky, usually it's better to save your time and energy. If there’s no opportunity to make an offer, don’t force one.

Just establish a time when you can touch base with them again.

This approach is more about nurturing and follow-up versus the usual churn-and-burn of leads. 

But if you’re feeling despondent from a lack of results, it’s helpful to shift your objective to something lighter. 

The temporary feeling of accomplishment may be what you need to show up again the next day and the day after that.

Dialing while you’re feeling like crap and low in energy is a waste of time anyway. You’re just going to repel leads with that vibe. 

So take a step back or take a breather. It’s cheesy but true.

The longer you’re in the game, the higher chances you have of scoring.

Where The Money Is

Follow-up is typically easy for people who don’t care or have no shame. (Being facetious)

For the rest of us, it’s a mental hurdle that we need to get over.

Because no one wants to feel like they’re annoying or bothering people. Or feel like a spammer. 

But that’s the issue. Typically that feeling comes from your own feelings toward people who constantly follow up with you.

So it’s a good exercise to check if that feeling is actually true. 

We all get bombarded with services we don’t want or need daily. And some of them follow up until you tell them to stop. 

But how do you feel when a service you’re interested in keeps following up?

Not as annoying. And if you really don’t need the service, you’ll tell them it’s not a good time right now.

But no feeling of annoyance or animosity from that interaction.

So when you’re following up with leads who you’ve had serious conversations with prior…

Don’t feel bad about following up. Easier said than done, I know. 

But mutual interest has been established because you have had a serious conversation. 

Just because they’re ignoring you or not answering back doesn’t mean they’re not interested.

We have no idea what goes on in the lives of other people. And if you’re doing deals with homeowners in distressed situations… I’m sure they have a lot of other things on their mind.

I wish I could share a golden number of how many follow-ups to send or when to stop. 

Typically, you should send 3 follow-ups MINIMUM. And a lot of wholesalers we’ve spoken to usually see momentum or progression with 5-9 follow-ups.

Since we talked about feeling like you’re bothering people earlier, do you know what the ironic part is?

A lot of people you follow up with multiple times… they’ll tell you that they respect and appreciate your persistence. 

That’s not the majority of folks, unfortunately. But serious leads will usually appreciate it. So take that as you will.

The whole point of following up is to build mental real estate. Pun intended.

Because let’s face it, you’re probably not the only person hitting up your leads. So it’s good to stay top of mind.

You see Coke products everywhere you go, right?

For most people, when you feel like having a cold, fizzy cola, what brand do you think of first? 

Exactly. (Sorry Pepsi folks, don’t unsubscribe. This isn’t us bashing Pepsi…)

Underrated Lead Gen Method

Let’s face it. Prospecting takes up a lot of your time and energy.

I remember hitting the phone day in, day out, call after call, with little to show for it.

Exhausted from constantly sifting through thousands of leads I wondered if there was another method for this madness. There had to be a more effective way to find homeowners who are motivated to transact now.

That’s when I decided to give cold email a shot.

In theory, all I have to do is put together an email, click send, and wait until someone bites. Out of hundreds of emails, there’s no way I don’t get at least one response.

Of course, I had no idea what I was doing in the beginning.

For one reason or another, we tend to overcomplicate things. We send long messages, trying to sell or convince in the email, and wonder…

Why am I not getting responses?

Enter the KISS Principle. Keep it simple, stupid.

Here’s an example of an email that works.

Subject line: Offer to purchase 123 Main St

Body:

Hi (name)

Thank you for taking the time to open and read this email. I’m sure you’re probably busy so I’ll be brief.

My name is ______ and I am with (company name). I’m not sure if you are considering an offer on your property at 123 Main St but if you are, we would like to present you with a top dollar cash offer.

If there is a number at which it would make sense to sell, please reply to this email or give me a call at ________.

When crafting an effective cold email don’t over-complicate it, get to the point fast.

You’re creating curiosity and familiarity. If the person is seriously considering selling or entertaining an offer, the likelihood of them opening the email is high.

If you’ve ever heard of the saying “everything has a price” then that is exactly what the last line of the email does. It gets them thinking about what their price is.

Keep in mind when creating a cold email, your job is not to sell or present an offer. Your job is to get them thinking.

A good open-ended question in an email that is backed by credibility and a genuine approach is all it takes to get a response or a call.

Like anything else, it’s easy to get discouraged and come to the conclusion that it doesn’t work.

But in reality, if you embrace the KISS principle and send your emails like you would make dials, responses will come.

PRO TIP: Find an email provider who will send your emails in a fashion that doesn’t get flagged as spam. If you send them all at once you are guaranteed to be flagged as spam and get a notoriously low open rate. (stay tuned for the next email where we will talk about some of the best email marketing platforms)

Looking For Motivated Seller Leads?

We partnered with Leadzolo to give you access to some of the highest converting off-market seller leads nationwide.

Imagine cutting down your time driving for dollars, sending direct mail, scraping county & government lists, skip-tracing, cold-calling, door-knocking, sending carrier pigeons, etc.

Instead, have motivated seller leads delivered straight to your account, ready to dial.

There are multiple wholesaling content creators who dial Leadzolo leads live! One creator even closed a six-figure deal live from stage at his event!

So if you’re interested in tapping into this lead source to grow your wholesaling business, click the button below to book a call with the Leadzolo team.

Thanks for reading this week’s issue of the Business of Wholesaling. 

We’ll be back next week with more marketing & sales strategies, market insights, and other advice you can use to grow your wholesaling business. 

See you next week.

Team Business of Wholesaling