Video summary
The video explores the art of wholesale real estate, where agents contact homeowners to purchase distressed properties directly. The core challenge discussed is how to persuade sellers who have been listing their homes for months without success. A common scenario involves a seller rejecting an initial offer because they are holding out for a higher price, often citing their desire to wait for better terms. Instead of viewing this rejection as a simple objection to be overcome, the speaker argues that the primary goal is to reframe the seller's perspective by shifting their focus from the current asking price to the financial and emotional cost of continuing to wait in a declining market.
To achieve this, the speaker uses a powerful analogy comparing real estate to fishing or stock markets, emphasizing that timing is everything. He illustrates that if a seller had accepted an offer six months ago, they would have received significantly more money than what is available today due to market fluctuations. The argument presented is that waiting for a better offer in a downward-trending economy often results in losing substantial value, potentially costing the homeowner tens of thousands of dollars over just a few years. By presenting data on comparable sales from previous months and explaining the economic downturn, the agent helps the seller realize that their hesitation is actually causing them financial harm rather than protecting their interests.
The ultimate conclusion of this sales strategy is to guide the seller toward making an immediate decision based on their readiness to move forward with their life. The speaker advises agents to ask direct questions about whether the homeowner truly wants to remain in a depreciating asset or if they are ready to eliminate debt and start fresh. If the seller indicates they are not ready, the agent should politely end the call rather than wasting time, allowing them to reach out to other potential buyers who might be more motivated. This approach respects the seller's autonomy while ensuring that those who genuinely need a solution can find it quickly, turning a potentially frustrating rejection into an opportunity for another lead to succeed.
Read the full video transcript
He calls people on the phone, right?
>> Yes, sir.
>> And he tries to buy their house. Does
that make sense? So, you call me. We get
all the way through the, "Hey, I would
like to make you an offer on your
house." And I'm like, "Okay, cool. Make
the offer." He goes out. He throws out
$125,000 offer. And I'm like, man, I
appreciate it, but I'm going to hold out
for more money than that. Go.
R.
>> All right. So, listen. So, here's the
deal. He calls people on the phone,
right?
>> Yes, sir. and he tries to buy their
house. Does that make sense? Everybody
follow me real quick because I'm going
to move quick through these. So,
wholesale real estate is where they call
people that have homes that want to sell
them. Most of the time they're in a
position they're they're distressed
homes, right?
>> Correct.
>> They call them on the phone and their
goal is to make them an offer. By the
way, how many people do you think that
called these people?
>> A lot. Okay. So, you ready?
>> I'm ready. So, you call me. We get all
the way through the, "Hey, I would like
to make you an offer on your house." And
I'm like, "Okay, cool. Make the offer."
He goes out, he throws out $125,000
offer. And I'm like, man, I appreciate
it, but I'm going to hold out for more
money than that. Go.
>> Of course, Andy. I hear that a lot. I
get you. Look, Andy, we've been on the
phone for about 40 minutes now. You told
me that you've been trying to sell this
house for the past 6 months. Can I ask
you a question, honestly?
>> Sure. over the last 6 months that you've
been trying to sell this house
and you weren't able to put your family
in that new house and that dream
situation.
If you did, do you think that you' be in
a better spot mentally and financially?
Yes or no?
>> No, I'm I'm good. I'm just going to hold
out for a little more money.
>> I got you.
You want to hold out for a little bit
more money?
>> I've said it. Come on. Come on.
>> Out for a little bit more money. I get
you, Andy. Look, you could do that. I
wouldn't blame you. I wouldn't be the
one to talk you out of it. The only
thing I want you to consider, Andy, is
time, right? You could go out there.
It's like fishing. If you wanted to wait
for a better offer, you know,
>> listen, I've already waited 6 months. I
can wait longer.
>> Listen, this is your job. Does that make
sense?
>> Listen, here's what I want to tell you.
What industry we live in in the world,
what era we live in, people aren't good
at what they do anymore.
>> Okay? Nobody take it personal. Okay? If
you are, you're probably the person in
here that sucks at your job. And and
matter of fact, it's not really hard to
actually be better than people that suck
anymore. The era I grew up in, everybody
seemed to be really really good at what
they did. And so in order to beat
people, you had to be like really,
really good. But now, like, everyone
sucks. Hey guys, sorry for interrupting
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let's get back to the video, guys. So,
like if everyone is if someone is kind,
they're like, "I'm the best at what I
do." I'm like, "I'm not sure I brag
about that."
>> Like, because I'm not sure that that's
even any good. Does that make sense?
>> Guys, listen to me. This is why we have
to like be in here and watch how sales
works. His goal isn't to overcome an
objection. His goal is to reframe the
client's mind. Hey, I totally
understand. However, if you said you had
it on the market for 6 months, I would
have pulled the trigger 6 months ago. If
somebody would have offered you 125
grand six months ago, I would have been
mad because six months ago the market
was up $60,000 more than it is today. I
who did you talk to someone six months
ago? Did you? There's no way you could
if I would have called you. I'm looking
at the comps from 6 months ago. I would
have offered you $185,000
for your house 6 months ago. It shows
right here we would have offered it.
>> But I didn't talk to you. The fact that
you waited has already cost you $60,000.
Look, the economy is going down and
going down and going down and it's going
to take about three or four more years
to correct. And if you've got time,
three or four more years to sit back,
honestly, I'd remove the house from the
market and I would just sit on it
because it's just going to keep going
down and 6 months from now, someone's
going to be calling you and offering you
85,000. And then you're really going to
be upset with that. So, the real
question comes back to it is, do you
really want the home gone? Do you really
want the debt gone? Are you ready to
move past this in this house in your
life? Yes or no?
That's that's the main question because
if you would have talked to me six
months ago, I would have given you
185,000 and you would have pulled the
trigger and I would have sold it to you.
But me and you didn't have that
conversation. So, I'm sorry that we
didn't talk back then, but I can't go
back in the past and change anything.
All I can talk to you about is that
every single day I watch this market and
if anybody isn't pulling the trigger on
their stuff right now, it's like stocks.
When the stock market's going down,
either you got to ride it out for five
or six years and just hold on or you
need to sell now. And so the question
is, can you hold out and ride out for
three or four more years? And if you
can, then just hold out, but remove the
house and tell no one to call you no
more so they don't waste your time. But
if you really want to sell it, pull the
trigger today and get more money than
you're going to get in 6 months from
now. Because I I'll call you back in 6
months from now, but I would have given
you 185 6 months earlier on this home.
The market's declining. And by the way,
it's not your fault. I would tell them
it's not your fault. You didn't do this.
This has nothing to do with you. Good
people all around the world are having
the same thing happen to them. And
that's why they're pulling the trigger
left and right to get off these
properties because it could take six,
seven, eight years to rebound. And a lot
of people can't wait around that long.
Can you afford to wait around that long
or would pulling the trigger right now
make the most sense so you can move past
this point in your life? And that is the
best close you're going to have for
this. And if that guy doesn't say yes,
get off the phone and call someone else.
I want to tell you something about
sales. You have to be okay sometimes
with no and move on. I know, I know it's
hard. I tell my guys all the time, I I
hear somebody and they're like, "Yeah, I
don't think I'm ready to do it right
now." And I walk by, I'm like, "Bro,
just tell them to have a blessed day.
Like, just get off the phone, go call
someone. Do you know how many people
want to change their life right now?"
Like, like, do you know how many people
want to sell their home right now? Do
you know how many people need help right
now? The longer you stay with this
person, someone else can't get that
phone call. They can't get that help.
They can't sell their house. You know
what I'm saying?