Mastering the Art of Talking with Sellers

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on Jun 29 in BestTransactionFunding

Wholesaling is all about making deals. A huge part of the deal-making process is talking to sellers. If you cannot do this well, you may never become a good wholesaler. However, if you master the art of talking with sellers, this could become a very lucrative business for you.

It's almost like a science mixed with an art and the best wholesalers know exactly what to say and when. After years of experience, it becomes a natural habit. Here are some of the ways you can master the art of talking with sellers.

Find the Pain Point

Maybe the one most important things you can do is figure out what the pain point is. Why does the seller want to sell and why did they call you? Do they need to unload the property fast or is it almost in foreclosure?

Asking the right questions will help you to get to the pain point. Some of the best questions to ask include:

Is the property vacant?

Are you the landlord for the property or do you live in it?

Why are you trying to sell the property?

What's your ideal situation with the sale?

Is there a reason you haven't listed the property with a real estate agent?

Sometimes sellers can put up walls and make it hard to get the information you need, but with the right questions, you can get to the pain point.

Create Rapport

Just like with any job where you will deal with customers, you need to create rapport. Find something common between you and the seller and use this to bond. It could be something as simple as a hobby or a sports team. No matter what it is, once you have common ground, you can bond and built rapport.

Learn to Steer the Conversation

Getting more information from the seller can be done when you learn to steer the conversation. You want to make sure you find out if they are truly interested in selling or just curious about the mailer you sent. Ask if they were looking to sell before receiving your mailer and remember, most sellers won't simply tell you they are looking to sell and need to do it fast.

If you continue to steer them back with close-ended questions, you can get to the bottom of why they are selling and if they really want to sell.

 

Use these tips to become better at talking with sellers. Wholesaling is very much a people business and you need to be able to talk with sellers if you want to become successful with real estate wholesaling.

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