How To Convince An Agent To Make Your Low Cash Offer | Flipping Mastery Show
Wholesale Hotline | Brent Daniels
Wholesale Hotline
4.9 • 586 Ratings
🗓️ 10 November 2024
⏱️ 17 minutes
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Summary
Today on the Wholesale Hotline Podcast (Flipping Mastery Edition), Jerry Norton explains everything you need to get your agent to make your offer today.
Show notes -- in this episode we'll cover:
- Jerry Norton breaks down why distinguishing between working directly with sellers and working through agents in wholesale real estate is crucial. Direct-to-seller approaches focus on emotional connections, while direct-to-agent interactions require logical persuasion.
- For direct-to-seller strategies, the emphasis is on understanding the seller's pain points, building trust, showing empathy, and anchoring offers low to find their bottom price.
- With agents, it’s about establishing value and presenting logical reasons for offers, emphasizing why they make sense given the condition, repair costs, and market potential.
- Successfully persuading an agent to present a low offer involves logical arguments, creating buy-in, and demonstrating why even a low offer can benefit the seller.
- A low anchor offer is often introduced verbally to gauge seller interest through the agent, aiming to uncover potential flexibility before submitting a formal offer.
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☎️ Welcome to Wholesale Hotline & Flipping Mastery Breakout! ☎️
Jerry Norton went from digging holes for minimum wage in his mid 20's to becoming a millionaire by the age of 30. Today he's the nation's leading expert on flipping houses and has taught thousands of people how to live their dream lifestyle through real estate.
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Transcript
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| 0:00.0 | Hey, it's Jerry Norton. |
| 0:04.2 | Welcome to the Wholesale Hotline podcast and the Flipping Mastery Breakout. |
| 0:08.0 | We want to know how we're doing, so please leave a comment and give us a rating. |
| 0:17.6 | In wholesale real estate, the goal is to acquire distressed real estate at a discount. |
| 0:22.6 | Now, when we're working with real estate agents to acquire deals versus when we're working directly with sellers, |
| 0:28.6 | there is a big difference in how we interact with both the seller and with the agent. |
| 0:33.6 | I want to break it down for you so that you see the distinction and you know how to do each one differently. Okay, first we're going to talk about direct to seller. When we're working directly with a seller, we are direct to the source. In distressed real estate, we know that there is some kind of pain going on. We are looking for the five to maybe 10% of all sellers in the marketplace at any given time |
| 0:56.0 | who are looking for a fast and convenient cash offer. |
| 0:59.0 | They want to get rid of that property that's causing them some kind of distress in their life. |
| 1:04.0 | So we know that there's high motivation. |
| 1:06.0 | And when there's high motivation, it usually means that there's something going on in their life |
| 1:11.1 | that is causing a lot of pain. |
| 1:13.1 | So it's emotional. |
| 1:14.1 | So when we're direct to seller, we have to understand that we are working with someone |
| 1:18.3 | who's highly emotional about what's going on. |
| 1:21.5 | Now, that means that there is no logic. |
| 1:24.1 | Logic isn't the way to connect direct a seller. |
| 1:27.1 | It isn't the way to get a deal done. It isn't the way to show empathy. It isn't how we do it. We have to be able to connect on the emotional side of what's going on. And if you think about it, when we're dealing with emotional sellers, the number one motivator is the pain that's happening right now and the second |
| 1:47.9 | motivator is the fear of more pain later, future pain. So it's the pain now and the pain later. |
| 1:54.4 | Those are the two most motivating factors for a distressed seller. So knowing that, we have to understand how to identify, how to |
| 2:03.9 | relate to, how to understand, how to show empathy, and at the end of the day, get to the |
| 2:09.3 | bottom of what the pain is. There's probably going to be some sort of hardship going on. |
... |
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