12 Jun
Posted by justin_lee in Cash Buyers
Here’s a little bit of motivation for those of you struggling with a buyers list:
We got a (skinny) deal under contract just 2 days ago and blasted it out to our buyers list that afternoon.
Minimal interest.
The very next day I had my partner pull a list of all of the ALL CASH deals sold in the past 6 months in the same zip code (out of the MLS).
I then took the list and made note of the agent who represented the buyer on the deal.
I printed out the list and made about 20-30 “cold calls” to the buyer’s agent using the following script:
“Hi ___________ (realtor name),
My name is Justin Lee and I was just doing some research on the MLS. I noticed that back in ___________ (insert month of when the other cash deal in the same zip closed) you represented an all cash buyer in a transaction on ____________ (insert street name of the deal they closed).
Does that ring a bell?”
<Agent will respond with yes>
“Awesome! Well I’m a local investor and I have a great OFF MARKET deal in the same zip code. I was just wondering if your client is looking to pick up any other great deals in the same area?”
<Agent will either say YES or tell you why the buyer isn’t looking for anything else, for example, sometimes they represent an owner occ in an all cash deal>.
“Great, we are asking _____________ (the price you’re pitching the deal at). All you have to do is add whatever commission you would like on top of that. What is the best email address for me to send all of the details about the property to?”
<Agent will give you their address>
“Great. I’m going to send this over to you in the next couple of minutes. We also get a ton of other great deals. Are you okay with me adding you to our buyers list, so you can get a first look at our very best deals?”
<Have yet to have a single agent tell me no. BOOM! Instant building of your buyers list.>
“Awesome. I will send this over ASAP. Please let me know if your buyer is going to play or pass. If they pass, we would love some feedback as to why they didn’t want the deal. I look forward to hearing back from you shortly.”
That’s it.
Like I said, I made about 20-30 “cold calls” with this script yesterday. By 6pm I had an agent calling me back telling me his buyer will take it. After a couple of phone calls and texts (him desperate for me to send him a contract) we got this thing SOLD this morning.
That means we got it done in less than 24 hours!
Obviously it hasn’t closed yet, but the point of the post is:
Get off your butt and HUSTLE. You can create buyers out of thin air just by picking up the phone and calling SUPER TARGETED (agents who recently represented an all cash buyer in the same zip as your deal) prospects.
Go out there and make it happen!
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