The Science of Flipping - Episode 169: The Realtor Convo - Increase Your Deals Monthly

Episode Date: September 24, 2020

The training shows you how to have a conversation with realtors that will increase your deals monthly.

Welcome to the Science of Flipping Podcast. I'm your host, Justin Colby. Yo, yo, what is up, everybody? Welcome back to the Science of Flipping Podcast. I am your host, Justin Colby, and this podcast is all about making sure you understand the right principles, the right processes, and the right strategies that you need to be implementing in your real estate investing business today, right now, not five years ago, but today. Listen, guys, I think we can all agree the world is a crazy place right now. There's a ton of negative stuff, but I want you guys to understand on how I pivoted

during this coronavirus epidemic that has now got me closing several deals each and every month without any marketing cost at all. And that is quite simply the conversations I'm having with realtors. It changed the game for me, frankly. I've always prided myself on being direct to consumer, speaking consumer meaning homeowner. I've done direct mail marketing, cold calling, text messaging, pay-per-click advertising on Google. You name it, I've done it. I've been there, I've done that. And've been there, I've done that,

and I've always prided myself on doing that directly to the homeowner themselves. But what I did during this pivot is I started reaching out to other investors as well as agents. And quite frankly, the agents are the ones that have been greatly moving my needle. And you might ask yourself, well, how are they moving your needle? What has changed? Why is it working? Well, that's the secret sauce. There is no big secret to it. It is quite simply, I'm having a conversation with my realtor saying, hey, I'm looking or I'm going to have a bunch of properties that are going to be able to be sold. I don't know if you are buying for yourself or if you have buyers looking for properties. The reality is I think we're all

in the same position that we're all trying to find deals. So what is going on with your business model and how can we figure out a way to do more business together? Now, why that actually was an effective conversation and why that actually works and how that works is because I am now having conversations with other wholesalers who have properties. This is the co-wholesale business, but I want you to focus on one component of the buyers, which is the agents. So I'm having conversation with co-wholesalers when I'm on everyone's list and I have been on everyone's list for quite some time. So first, you need to make sure that you are getting the property sent to you from the other wholesalers. I'm having conversations

with these wholesalers saying, hey, if you're direct to seller, this is not a daisy chain situation. If you're direct to seller, I have people a daisy chain situation. If you're direct to seller, I have people looking to buy. Not only do I have people looking to buy, I have a lot of agents asking me for more properties. Would you mind if I sold your property? Okay. So you have that conversation first. In large part, I'm already on everyone's buyers list. So I don't have to, you know, try to find the deals, but I have to have the conversation in my opinion with the wholesaler themselves. I then send their property out and what has moved my needle and why that first conversation with the realtor moves my needle

is because now these realtors are calling me not just for themselves, but also for their clients. And what has happened is I'm able to sell anywhere from, you know, three to 10 deals every single month without spending any money on marketing. And why that works is because the realtor was prefaced in the first place. I had the conversation with the realtor in the first place, asking them what their business model is. Are they investing themselves? Do they have investing clients? And because of that, I'm adding roughly a hundred new realtors to my buyers list every week. That is my goal. That is what my team knows that they need to be doing. Sometimes they surpass that. Sometimes we can get up to 200 new realtors added to our buyers list each and every week. Sometimes we can get up to 200 new realtors

added to our buyers list each and every week. But what they are doing is they're having the conversations with the realtors, figuring out what their business model is, and then saying, hey, if you'd like to see my properties, I'm happy to put you on our buyers list. I'll send you the emails. And in fact, if you're a good buyer, meaning if you're buying for yourself and you just happen to be a realtor, I'll shoot you a text message and I'll send a text message straight to your phone personally so that you can have first dibs at buying the property and not waiting for it to go out to my email list. This has been a straight up game changer. The conversation is very simple. It is, hey, I know things have been nuts over the last 90 days. I know there's crazy stuff going on in the world and the economy. So I'm reaching out to you quite

simply to see what your business model is. I am a local wholesaler as well as I fix and flip. But I did want to see if there's any business for us to do together. Have you ever purchased a home from a wholesaler or have you ever sold a home from a wholesaler to your clients? And if so, are we able to figure out a way to do more business together? And the conversation naturally takes place. You will have realtors that say, no, I haven't and I don't want to. And you'll have those people that aren't in love with working with investors yet. I get it. They're behind the times. That's fine. Let them stay behind the times, but you will also have people in the majority of them. They're also pivoting. They're also trying to figure out where they can change, what they can do, how they can get more deals done. You will also have the individuals and

the majority of them will say, yes, I'm interested in working with you. Send me everything you got. I have clients that can't find deals. I can't find deals, whatever. Right. And then the conversation proceeds about if they want to be a VIP buyer for you, then, you know, I'll, I'll send you a text message, right? If you're looking to buy two or three, yesterday I had a conversation with a realtor myself that basically said, Hey, I need to be buying two or three properties myself as an investment, but I also have clients looking. So text me because if I don't buy it personally, I will then sell it to my clients. And quite honestly, it's easy, right? The agent marks the deal up. So if I send the property out to the agent for $150,000, they could buy it for $150,000 or they can sell it to their client at whatever number they want. Anything above $150,000 or they can sell it to their client at whatever number they want

anything above $150,000 they get to keep it's really simple and it's really been effective over the last call it 90 days since March when we got all this craziness going on this was my big pivot this is how I won that's the conversation that you guys need to be having with your buyers as well now if you uh are not subscribed to my youtube channel make sure you're subscribing uh if you are watching this video on my youtube subscribe to make sure you're getting the right and most updated content if you are not a part of the science of flipping academy group on facebook you need to be a part of the science of flipping academy group completely free go over there request to join we will let you in you will get the fastest and most up-to-date um information trainings systems etc i hope this helps i hope you are healthy i hope this finds you well peace

and love for all of you out there i'll see you guys on the next next podcast peace