How to Follow Up with Motivated Sellers | Wholesaling Real Estate

TL;DR

This video provides a step-by-step guide on how to effectively follow up with motivated sellers to convert leads into contracts and maximize wholesaling profits.

Transcript

how to follow up with your motivated sellers what's up guys zakian here and in today's video i'm going to show you exactly how to follow up with your motivated sellers step by step so if you're brand new into follow-ups and how to do them this is the video for you but before we get into it before i show you exactly how to follow up with your seller... Read More

Key Insights

• 🥺 The point of follow-ups in wholesaling is to convert leads into contracts and maximize profits.
• 🙃 Following up consistently is crucial, as most wholesaling deals require multiple follow-ups before reaching an appointment.
• 📲 Following up on multiple platforms, such as phone calls, text messages, and social media, increases the chances of reaching motivated sellers.
• 🙃 Building rapport and maintaining a friendly connection with sellers is important during follow-ups.
• 🙃 Using a CRM system like Podio or Google Calendar helps organize and track follow-ups efficiently.
• 🥺 The frequency of follow-ups depends on the lead's status, with hot leads requiring more frequent follow-ups.
• 👨‍💼 Following up with connections and networking partners in the wholesaling business is also important.
• 📏 Using the "50 rule" or "half rule" can help determine the appropriate time to follow up with leads who indicate a specific timeframe.

Questions & Answers

Q: Why is following up with motivated sellers important in wholesaling?

Following up is essential because it helps to convert leads into contracts, which is the goal of wholesaling and leads to earning profits. Consistent follow-up shows persistence and can lead to closing deals.

Q: How do I know when a follow-up is ready to move on to an appointment?

To determine if a follow-up is ready for an appointment, consider the four pillars of wholesaling: motivation, condition, time frame, and price. By assessing these factors through qualifying questions, you can determine if a lead is worth pursuing further.

Q: How often should I follow up with motivated sellers?

The frequency of follow-ups depends on various factors such as lead status and market saturation. In highly competitive markets, it is recommended to follow up at least once a week with hot leads, every other week with cold leads, and once a week with regular leads.

Q: How can I keep track of follow-ups in my wholesaling business?

Using a secure CRM system like Podio can help organize and manage follow-ups effectively. Tasks can be set for follow-ups, and reminders can be sent through email or calendar notifications.

Summary & Key Takeaways

• Following up with motivated sellers involves checking in with leads to gauge their interest in selling and move towards signing a contract.

• The four pillars of wholesaling (motivation, condition, time frame, and price) help determine if a follow-up is ready for an appointment.

• It is crucial to follow up consistently and on multiple platforms, such as phone calls, voicemails, text messages, Facebook messages, and even door-knocking if necessary.