Wholesaling cold calling: What is it and how does it help in real estate?

Getting a conversation started with the potential property owner is one of the greatest fears of a new real estate investor. Most of the real estate investors who are just beginning are chai from making wholesaling cold calling for fear of rejection from the customers. According to a 2019 sales study, over 40% of sales professionals agree that initial prospecting, including cold calling, is one of the most difficult aspects of the total sales process.

Let us understand what exactly a wholesaling cold calling script is:

What Is A Wholesaling Cold Calling Script?

Typically, any sales professional in any industry will get started with a script first. A wholesaling cold calling script is usually the outline of a conversation and the important questions for a real estate investor for asking a potential seller. The conversation is written in such a way that it will:

• help in building up trust and rapport with the client;
• lay the foundation for a prospective partner in the near future, and learn the important and
• Relevant details for the investors for determining if the property is a suitable investment.

If one does it correctly, an outbound cold calling becomes an efficient and effective component of a real estate investor’s overall lead generation strategy. However, in order to make the real estate investing work to its hundred per cent capacity, an investor should consider some of the few factors:

• The wholesaling cold calling script that the investor is using;
• The actual target property or homeowner that the investor is focusing on;
• The investor’s follow-up call after the initial phone call for continuing the showcasing value and then eventually winning the business.

Let us now get into why one actually uses an inbound cold calling.

Why Use A Wholesaling Cold Calling Script?

• All the real estate investors of all expertise need to use an efficient wholesaling cold calling script. If you are a new investor and are just getting started, we understand that you might be nervous or may not be confident enough to get in the way of creating a genuine connection with a potential customer.
• If you are an experienced investor, continuing to use a cold calling script will ensure that the conversation stays efficient, focused, and on track. Moreover, it will minimize rambling, keep the cold caller on task, and allow the investor to ensure that they get all their initial qualifying questions solved by the homeowner.
• It is essential to practice speaking the cold calling scripts. The good idea is to partner with an accountability buddy who will help in role-playing. This will allow you to practice the cold calling script in advance, simulate a prospective objection or rejection from a customer, and get comfortable with the words.

Now that you know the benefits of wholesaling cold calling let us see who it can be used with.

With whom can you use a Wholesaling Cold Calling Script?

Real estate investors use a wholesaling cold calling script with different types of targeted prospects. The prospects include a wide range of probate property owners, motivated sellers, pre-foreclosures, real estate agents, absentee owners, or other distressed property owners.

Though you can use a template for a cold calling script, it is wise to tailor it for every type of prospect customer you are targeting. Every script consists of details and nuances that will relate specifically to the challenges of target prospects. For instance, a property owner of a home who risks short sale or foreclosure might come with questions and concerns as an absentee property owner who lives out of state. Therefore, it is best to have each script reflect the prospects precisely.

Let us see if the real estate cold calling script really works for wholesaling.

Is Real Estate Cold Calling Scripts Suitable for Wholesaling?

Many salespeople across a different type of industry will agree that cold calling scripts are no longer a thing and are possibly dead in the age of technology; however, if you are an investor with possession of a well-written and is made for establishing a genuine connection. If the investor wants to stay in the game for a long time and thinks long term, inbound cold calling scripts will work for wholesaling even today.

According to a study by Baylor University on cold calling effectiveness, though initial contacts don’t yield many results, sales agents can increase sales conversions when they establish actual contact and long-term relationship-building strategies instead of dropping a one-time voicemail and moving on.

Conclusion:

If one looks at the effectiveness of cold calling, they are not quite convincing. However, it wants to pursue the old-school wholesaling cold calling still; a well-written script, practised routinely, and applied consistently, will help in increasing your odds of conversion, allowing you to close a successful deal.

Most of the real estate wholesalers successfully converted the potential cold clients. It will happen when one concentrates on the right cold call script, does a consistent follow-up, and has a strong mindset.

Call-to-action:

Are you looking for an efficient wholesaling cold calling service? Then, NomadUX should be your go-to option. We are a corporation registered in Costa Rica- Central America, and is a sister company of a group of businesses based in Europe, with the headquarters in London. We offer efficient, practical, and tailored outsourcing solutions to different organizations in order to reduce labour costs and improve the overall profitability of the business at the same time. Apart from this, we have specialised in recruiting, training, managing and monitoring remote teams for clients’ requirements for high-quality work. This will save them valuable time and money, thereby helping them focus on their core business priorities. Some of our key services include Outbound cold calling, inbound calling, texting, lead management, acquisition management, virtual administrative assistants, and virtual wholesaling/property purchase. Call us at (516)570-9241 or mail us at info@nomadux.com.