Clarity Creates Confidence, Little Known Persuasion Technique, What Nobody Is Talking About

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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:

• Clarity Creates Confidence

• Little Known Persuasion Technique

• What Nobody Is Talking About (Debt and deliquency rates)

Need Help Dispoing A Deal?

Sometimes it can be tough to find good JV partners in this industry. Seems like one day someone is trustworthy then when it comes time to distribute the money, they disappear.

But luckily, there are some good people in our space. Our friends at T&R Certified Closing LLC are willing to JV with any of you that need help dispoing your deal.

They’ll help underwrite your deal and get it sold to their network of 3M+ buyers nationwide.

Right now, they’re currently only accepting Single Family Residence (1 to 4 units). So if that sounds like you, click the link below and fill out the form.

Be sure to tell them Leadzolo sent you and they’ll take care of you.

Clarity Creates Confidence

There are usually two ways people get started in this industry:

1. They binge-watch YouTube University to get a sense of the entire process, hoping to get everything they need.

2. They jump in with both feet and try to figure it out along the way.

In the beginning, everything sort of feels easy. You’re getting a lot of momentum from figuring things out. You’re learning new skills. You’re starting to develop a plan of action. 

And you have an idea of what you want to get out of this business. 

But, hey let’s be real - it’s never as easy as it seems. 

Challenges come up sooner or later. Doubts creep in, distractions demand attention, and competing priorities threaten to mess up your flow. 

This can easily derail your momentum and create chaos in your mind. This chaos can be pretty draining. 

That’s why mental clarity is so important. It’s the antidote to confusion, uncertainty, and indecision. Providing a sense of purpose and direction that fuels productivity and drives action.

When you reduce mental friction, you create energy. So it’s really important to guard what you’re placing your attention on. Because where you place your attention is where you place your energy.

Paralysis by analysis. We’ve all been there, right?

That’s the premise of Principles by Ray Dalio. You create these principles so you can create clarity. This way, you don’t have to second guess yourself when it comes to decision making. 

But that’s only one aspect. Here’s a more streamlined approach to creating clarity:

1. Define what you want to achieve and visualize what success looks like.

2. Create a roadmap with a clear plan of action and deadlines needed to achieve your goals.

3. Identify the most important tasks that will move you closer to your goal and focus on them.

4. Set measurable milestones to track your progress. 

5. Eliminate distractions by focusing only on the goal at hand. Don’t become a victim of the shiny object syndrome and try to do too many things at once.

6. Reflect regularly by taking time to review your goals, progress, and priorities. Take this as an opportunity to adjust your plans as needed to stay aligned with your vision.

Yes, it’s simple and straightforward. The best solutions are. But you’d be surprised how many people in this industry operate without knowing these things. They’re just taking it day by day. 

A clear vision of what we want and a roadmap for how to get there empowers us to make confident decisions and take decisive action, leading to a sense of progress and momentum.

When challenges hit, clarity gives your mental well being a much needed pick-me-up by providing you with a sense of purpose and meaning. 

Knowing why we are doing something and how it aligns with our values and overall vision, fuels motivation and makes the effort feel worthwhile. 

Energy is so important in this industry. You gotta stay at a high frequency to do what you need to do. 

It’s also important to keep in mind that when you’re feeling stuck or lacking energy it’s probably because you're lacking clarity on something. Whether it be the future or an unsolved problem.

By gaining that clarity on our goals and priorities and the additional steps required, we unleash a powerful source of energy and motivation that propels us forward. 

Keep going!

Little Known Persuasion Technique

I’ve had a sales mentor tell me once, “You know, you’re a mediocre salesman. But your personality makes you a great salesman.”

I’m not some overly extroverted, charismatic person either. I’d say I’m a charismatic introvert.

But hard closing has never worked for me. I figured out a while ago that if I could convince someone to come to their own conclusion, the sale would close itself. 

And my only job was to lead them down the path and present clues. 

So when I meet wholesalers who take the same approach, it’s refreshing. Because there are a lot of wholesalers who do slimy, gray area things. 

We’ve talked about this before, but a home is probably the biggest asset a seller has.

So when we speak with sellers, we’re essentially getting them to trust us with their entire livelihood. 

Handling objections can be a fun game. But sometimes you might not even need to if the seller can come to their own conclusion (in their head). 

One of the ways to do this is to simply be personable. Act like you have their best interests in mind.

I personally like education. Sending articles, giving information about their area, and just educating them enough about the process. 

You don’t need to go overboard. You just need to give enough to have them come to the same conclusion as you.

That you’re the guy that they can trust to help sell their home fast and/or for the best deal.

All this information, you should already know through your own due diligence and research. 

So it’s not like you’re going out of your way to look up new things. You’re repurposing the knowledge in your head. 

We all know Jordan Belfort, right?

The first qualifying call from Stratton Oakmont is about giving away a free monthly research report to the prospect.

It builds goodwill and trust. Morality aside, the script worked tremendously well… as depicted in the movie The Wolf of Wall Street with Leo. 

If you can position yourself as the “expert” rather than another salesperson, it might give you a boost of results.

And depending on your personality, it might be the pivot you need. 

What Nobody Is Talking About

The latest news about the state of the economy would lead most people to believe that the economy is improving.

Headlines often celebrate job growth, declining interest rates, and controlled inflation. 

But what is often overlooked and avoided is the alarming surge in credit card and auto loan delinquencies, coupled with the staggering increase in consumer debt. This paints a less optimistic picture of the financial landscape.

A recent report from the New York Fed reveals a stark reality.

Credit card delinquencies surged by more than 50% in 2023, as the total consumer debt rose to a staggering $17.5 trillion. Furthermore, auto loan delinquencies hit a 13-year high, with total auto loan debt crossing $1.6 trillion. 

However, amid these concerning trends, one thing stands out. Mortgage rates have only experienced a modest increase of .82% in delinquencies. 

This raises a crucial question…. Why is the increase in mortgage delinquencies so much lower and what does this mean?

One possible explanation lies in the lasting impact of the 2008 recession on consumer behavior. 

The collective memory of widespread foreclosures and financial turmoil may be influencing individuals to prioritize keeping their homes at all costs.

Another factor could be the current high equity levels in homes. 

Unlike the 2008 crisis, where many people were underwater on their mortgages, today's homeowners may see their homes as a safety net. They're unwilling to risk losing the substantial equity they've built up.

The apparent resilience in the mortgage sector should not overshadow the broader challenges of surging consumer debt and delinquencies.

It is crucial to recognize that if consumer debt and delinquency continue to increase, a domino effect could unfold. This could lead to higher mortgage delinquencies and potentially lead to higher foreclosures.

Today’s Sales Objection

Last week’s sales objection:

"Zillow Says My House is Worth More"

Best Answer: Yes, I’ve seen that Zestimate! In fact, that’s something I wanted to explain a bit. Zestimates can be off by at least 15% and in some cases, by 40%. Why? Because there are no Zillow agents who come by your house to evaluate it! Zillow just tries to calculate a market average based on an algorithm. But your buyers will not care about a Zestimate. If a Zestimate is 15% lower, you will lose 15% on the sale. If it’s 15% higher, no one will buy the house, and then you’ll lose money on negotiating. Wouldn’t you rather just sell your house as fast as possible for the best price?

This week’s sales objection:

I’m going to try listing it with an agent again.

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

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