Today we’re going to continue the conversation on wholesaling and discuss the third step in the process: meeting the sellers.
After you’ve generated leads and handled your incoming leads, it’s time to actually meet motivated sellers.
When you do that, your have two primary jobs. The first is to look at the house and get a better sense of what the repair costs might be. If you’re already a house flipper, that should be easy for you. If you’re not, make sure you take a ton of notes and pictures so you can estimate costs . I have talked about calculating costs in great detail in past episodes, so make sure you listen to those again. But other than calculating costs, you need to create a relationship with the motivated seller. You want to try to find common ground and you want to be likable. Be on your best behavior; behave like you would if you were meeting someone important to you. You don’t have to go there all dressed up, but it doesn’t hurt to look clean and presentable. Be polite, friendly, and engaging. Be the best version of you that you can be. That comes naturally for some people, but others are not comfortable meeting new people, and if that’s the case wholesaling is not going to be very easy for you.
But I can let you in on a secret: I’m not very social by nature. I have to work at it. If I have someone I’ve never met before, I try to be the best version of me. That’s what you need to do when you’re meeting a seller.
So when you meet a motivated seller, create that rapport, look at the house, and take interest in what they’re saying. Sellers will often start talking to you about the history of the house and problems they might be having with it. Take interest in that and listen. They’re going to be more likely to sell the house to you if they like you as a person.
Ideally, you’ll want to make an offer right then and there. When you’re new, that’s not that easy and that’s ok. Create a rapport and follow up as soon as you can.