The #1 Differentiator Among Successful Property Wholesalers

by blogger1
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on Feb 15 in BestTransactionFunding

What separates the most successful property wholesalers from the rest?

Aside from looking credible, offering truly good deals, and ensuring smart financing is lined up, there is one factor that really determines success in real estate. It applies to wholesalers, Realtors, property managers, and other investors too.

It’s follow up.

It doesn’t matter how great the deals you find are, how awesome your website is, or how much money you start with. If you aren’t excelling at the follow up, you are throwing it all away.

As a wholesaler you end buyers are serious buyers. They respond to ads looking to make something happen fast. They literally have access to millions of properties in inventory out there. Yours may be good deals, but you can bet there are others too. Whether they buy from you or not, and keep coming back, or send you referrals, and how much money you make, and how fast, all depends on the follow up.

If you aren’t going to be available, follow up, and follow through, then save your advertising dollars for something else. Fortunately, the failure of your peers to follow up well, also creates a huge opportunity to do more deals, and gain market share.

It all starts with awesome follow up at the first enquiry. It’s not expensive to have a virtual assistant or call center to take your live lead calls and get them in the pipeline. Or at least have a good funnel that captures phone numbers and email addresses the moment a lead comes through. Have someone available to immediately respond. Or set up autoresponder texts, emails, and return calls. Every second that goes by sees the odds of closing that deal go down. Every second you haven’t answered means they are looking at competing properties and can be forming relationships with your competitors.

A lot of the time leads won’t close on the very first call or email. What’s your system for closing them after that? Don’t just wait for someone else to beat you to the punch, follow up, and close the sale. Send follow up emails, be proactive about calling or texting, or messaging on social media. Have a system for this. Follow up in 24 hours, in 48 hours, a week, and so on.

Then ensure you have a meaningful follow up system for regularly connecting. You want to keep your clients, build the relationship, and nurture those that didn’t close into real customers. This can be done by phone, SMS, physical mail and thank you gifts, in person meetups and more. Don’t spam or over-sell or you’ll get doomed to the junk pile. Do make a system and automate it, while providing meaningful value at each connection.

How’s your follow up?

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