WHOLESALING COLD CALLING SCRIPT HOW TO EFFECTIVELY GENERATE LEADS FOR YOUR WHOLESALE DEALS PAGE | 02 | www.realestateskills.com DEFINING THE WHOLESALING COLD CALLING SCRIPT This wholesaling cold-calling script outlines the conversation and key questions for a real estate investor to ask a prospective seller. This conversation is designed to build rapport and trust, learn key information for the investor to determine if the property is a good investment, and lay the foundation for a potential partnership in the future. Think of this as your roadmap during the conversation. It provides a structure that ensures you cover all vital points, yet remains flexible enough to adapt to the flow of the conversation. The script isn't a recitation; it's a guide. It's crucial to inject your personality and sincerity into it. The more specific and strategic you are about the homeowner or property you're targeting, the higher your chances of striking a profitable deal. Know your market and the kinds of properties that are ripe for wholesaling. | www.realestateskills.com STARTING THE CONVERSATION Wholesaling houses requires a firm grip on persuasive and professional communication. Without the right words, even the most promising deal could slip through your fingers. Below, you will find an expertly crafted script that has been designed with care and precision to maximize your success during cold calls. This script isn't just a set of premeditated lines; it's a blueprint that outlines the most effective way to engage, converse with, and persuade potential property owners. We encourage you to not just adopt this script verbatim. Instead, consider this as a strong foundation upon which you can layer your own unique communication style and business strategies. It's vital to personalize this script, tailoring it to your voice, your prospective client, and the particularities of the deal at hand. PAGE | 03 PAGE | 04 | www.realestateskills.com EXPERT TIPS FOR COLD CALLING Be in a quiet area, or room, without noises or distractions. Use your phone with headphones so that your hands are free for taking notes and expressing. Stand up straight with your shoulders back. Have your CRM open in front of your computer to take notes, or a pen & notepad to take notes. Remove all emotions from the day’s stresses and/or previous calls. You are a rational investor who does not take anything personally. | www.realestateskills.com PAGE | 05 THE WHOLESALING COLD CALLING SCRIPT When you are on the search for the best real estate deals, the ability to effectively communicate is paramount. Your pitch, often relying on a well-crafted script, can be the difference between sealing a deal or walking away empty-handed. Now, let's cover essential questions and possible prospect responses to incorporate into your cold-calling script, ensuring you're equipped for success: The Introduction Introductions: If You Are Targeting A Specific Property Introductions: If You Are Searching For A Target Property Prospect Responses The Prospect Says “Yes” or "What price can you offer me?" The Prospect Says “No” The Prospect Says “Maybe” The Prospect Wants A Specific Price Or Closing Terms Other Prospect Response Variations “How Did You Get My Phone Number?” “Who Are You Again?” General Conversation Wrap-Up The Follow-Up PAGE | 06 | www.realestateskills.com THE INTRODUCTION “Hi, I’m looking for (Owner's First Name). Is this whom I’m speaking with? My name is (Your Name) with (Your Company). I’m calling about a property that I believe you own, at (Property Address). Is this correct? I’m just curious...would you consider selling your property for the right offer?“ PAGE | 07 | www.realestateskills.com THE INTRODUCTION: TARGETING A SPECIFIC PROPERTY “Hi, I’m looking for (Owner's First Name). Is this who I’m speaking with? My name is (Your Name) with (Company Name). I’m calling about a property that I believe you own, at (Target Property Address). Is this correct? I’m just curious...would you consider selling your property for the right offer? I am a local investor and have a large network of other investors and cash buyers. I work with local property owners like yourself who may be looking to sell. My partner network and I purchase these homes in cash. I can do a quick close, within two weeks, if this works for your schedule. And you don’t have to do any repairs or improvements, nor do you have to put the property on the market for sale. We buy properties as-is." *Note: Pause and stop talking here. Let the prospect talk and listen... PAGE | 08 | www.realestateskills.com THE INTRODUCTION: SEARCHING FOR A TARGET PROPERTY “Hi, I’m looking for (Owner's First Name). Is this who I’m speaking with? My name is (Your Name) with (Company Name). I’ll be brief. I’m a local real estate investor and I am looking for houses in your neighborhood. I’m just curious...would you consider selling your property for the right offer? I work with a large network of home buyers including other investors, realtors, and cash buyers. I partner with local property owners like yourself who may be looking to sell. My partner network and I purchase these homes in cash. I can do a quick close, within two weeks, if this works for your schedule. And you don’t have to do any repairs or improvements, we buy properties as-is." *Note: Pause and stop talking here. Let the prospect talk and listen... PAGE | 09 | www.realestateskills.com THE PROSPECT SAYS “YES” OR "WHAT PRICE CAN YOU OFFER ME?" “Great! Do you mind telling me more about the property? Knowing the condition of the home will help my partners and I run the numbers and present our best offer.” OR “Well, I am a local investor and have a large network of cash buyers and investment partners. I offer speed and convenience to local property owners like yourself who may be looking to sell as we typically purchase these homes with cash. I can do a quick close, within two weeks, or we can accommodate a longer closing, depending on your timeline. You don’t have to do any repairs or improvements, nor do you have to put the property on the market for sale or pay any hefty real estate commissions. We buy properties as-is. Considering that, how much would you accept?” | www.realestateskills.com PAGE | 10 THE PROSPECT SAYS “NO” “I understand. May I call you in a month to check in on you to see if your situation has changed? Do you have any other properties that you are considering letting go of? Do you have any friends or family members who may be interested in my services?” THE PROSPECT SAYS “MAYBE” “I understand completely, this is a big decision! Tell you what….would you be open to another quick conversation in a couple of weeks? I’m happy to call you back when it’s more convenient for you. And in the meantime, I can send you more information on my real estate business and what we do. Does that work for you? Please save my contact information in case anything changes.” | www.realestateskills.com PAGE | 11 THE PROSPECT WANTS A SPECIFIC PRICE OR CLOSING TERMS “I understand and appreciate you wanting a price! I love your enthusiasm and hope we can make a great deal work. I do need to see the property in person and run a few numbers by my partner. Does (date/time) work for you for me to come by?” OTHER PROSPECT RESPONSE VARIATIONS HOW DID YOU GET MY PHONE NUMBER? “I use an online website called LexisNexis to research properties that I'm interested in. They mostly look at public records, and if I send them the address, sometimes they will have a phone number associated with the property owner.” WHO ARE YOU AGAIN? “I'm a local home buyer looking to improve the neighborhood by renovating homes in the area.” | www.realestateskills.com PAGE | 12 GENERAL CONVERSATION WRAP-UP “Well, (Owner's First Name), thank you so much for your time today. I can’t tell you how much I appreciate it. I’d love to come see the property. Does this (day/time) work for you? Is there any information I can send you before our meeting? Do you have any other questions for me?” | www.realestateskills.com PAGE | 13 THE FOLLOW-UP Any successful real estate investor will tell you that many of their deals came from consistent follow-up. The follow-up plan is built into their marketing strategies. It is very common for cold-calling wholesaling prospects to hang up on the wholesaler investor, refuse to take an initial call, or show little interest early in the relationship. Investors who regularly cold call understand that it is a long-term strategy and that it can take a lot of time to successfully land a deal! The money is in the consistent willingness to follow up and provide value to potential prospects. Now, let’s cover our template for a follow-up script. | www.realestateskills.com PAGE | 14 FOLLOW-UP INTRODUCTION “Hi, (Prospect Name), this is (Your Name). We spoke on (Date of First Call). It’s great to connect again! I know when we spoke last, you expressed concerns around selling. As promised, I wanted to follow up and see if you had any other questions or were ready to learn more about how I can help?” IF THE PROSPECT IS NOW READY TO TALK “That’s great! Let’s start with you telling me more about your property.” *Note: Review anything you may have talked about in the last conversation and be ready to ask your qualifying questions. | www.realestateskills.com PAGE | 15 IF THE PROSPECT IS NOT READY TO TALK “I understand! Would you like me to follow up with you in a few weeks?” IF THE PROSPECT SAYS NO & IS NOT INTERESTED Thank him/her for their time, remain professional, and move on to the next prospect! If you have a mailing list, you can also ask if the person would like to stay in touch via your direct mail. There are other great ways to follow up with a cold calling prospect other than another phone call. For example, a handwritten thank you note is an easy way to be memorable and stand out from other investors. If the prospect has an email address or other available contact information, this is also an acceptable way to follow up. | www.realestateskills.com PAGE | 16 ATTEND OUR FREE WHOLESALING TRAINING! Gain invaluable knowledge, systems, and processes from the founder & CEO of Real Estate Skills, Alex Martinez. This training reveals his proven strategies used to wholesale and flip houses without doing any marketing! Completely FREE training video. No prior experience is required to start. Begin investing with no cost for marketing. Learn to invest in any real estate market. Discover how you can close deals consistently.
