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?
"I want thank you for the excellent service I received from Best Transaction Funding.The quick response I received from your company from the beginning of the transaction and to the end was unbelievable. I also want to give a special compliment to you as well. You went to great lengths to keep me informed and gave my title company all the information they needed to complete a successful closing. I cannot express how thankful I am. Such service builds great working relationships. I will definitely recommend Best Transaction Funding to all my fellow investors. Thank You."
- Frank Olaitan, Real Estate Investor, MD
"I can't thank you and your company enough for providing funding for our latest project, and right at the last minute. You came through with funding in less than 24 hours and coordinated with the closing agent and attorneys like you had been involved with our project the entire way. I'll know exactly where to call for the funding we'll need for our next project."
- Dave Pricken, Real Estate Investor, NJ
"Thank you so much! I just had a talk with our Realtor on both properties and told him amazing things about your company!... Normally I rehab the houses and re resells them. I just don't have the patience for that work anymore. This [transactional funding] is such a better way for me and less stress."
- Steven Kupecz, Real Estate Investor, TN
"We want to thank you for the exceptional customer service you provided. No one comes close. We had contacted a competitor the same time we contacted your company. Your company responded with in a few minutes while the competitor has yet to respond weeks later even after multiple phone calls and emails. Thanks again for the unmatched customer service."
"We had looked into several transaction lenders for a couple properties we were trying to flip. Your company was the most responsive and had the best pricing. Even though we had logistics issues with the B/C lender, your company acted very professionally and handled our requests beyond our expectations."
"Thank you for your commitment to an excellent customer experience."
- Phoenix Properties, LLC, Ronald Destefani, Investor, PA
"I was studying on how transactional funding works and you guys had the best and most thorough explanations posted so I could fully understand the details in back to back closing. I'd already started setting everything up but your video confirmed that I'm on the right track."
- La'Donna Turnipseed-Scott, Investor, LA
"....a few months back, I happened upon a video, on your site, regarding the use of transactional funding with Hud properties; and I found myself replaying the video over and over because of the value that I saw in the message...it actually explained the process, step-by-step on how to submit a Hud deal by using transactional funding. Once I completed the video, my initial response was to take immediate action by duplicating what I had learned from the video into real time. So I did some research on properties in a market where I knew I had buyers; and put together a hud deal. I then located a realtor able and willing to submit my bid online and within a couple of days, to my surprise, received a call telling me that I had won – my very 1st Hud bid."
"To you I say, ”KUDOS to Best Transactional Funding and Thank you for providing the education and services to Real Estate Entrepreneurs like me. Please keep up the good work!'"
- T. A. Davis, Investor, NJ
"You each deserve high marks for your wonderfully quick response time to each of our questions and requests! You hit home runs with us! Your application system was easy to use. Our deal met your qualifications and every time Rob Kozak or any member of Mystic Properties, LLC phoned, we received a "real" person dialing back to speak with us.
Your patience and persistence were exceptional in dealing with our business interests. Thank you for such great customer service! We look forward to working with your staff, again, in the future. We like referring people to you, as us, our team would have missed-out on an excellent earning opportunity.
Your help negotiating with our title company made our back-to-back deal, finally happen. People noticed on settlement day how effectively and efficiently your part of the transaction was organized and executed. Again, thank you for truthfully being the "BEST" at what you do!"
- Diane McAdams, Mystic Properties, LLC, Real Estate Investor, Pennsylvania
"Boy, you guys are impressive! I can’t thank you enough for scrambling and getting my deal done at the last minute like that. You and your team were awesome!"
- Donna Bauer, The NoteBuyer Inc., Real Estate Investor, OH
"Thank you so much for working so diligently with me. Your services really are the "BEST". I look forward to working with you in the near future!"
- Ericka B., Real Estate Investor, CA