Be Persistent but Not Annoying: 2-Step Process for a Wholesaler Cold Call
Ring, ring, ring…
Mystery caller: Hello, is this Joey? (p.s. I hate being called Joey)
Joe: …yes, this is Joe. Who is this?
Mystery caller: Hey Joey, my name is blah blah (I won’t use real name). Do you like off-market deals?
Joe: …yes but I buy large apt communities, do you have any of those?
Mystery caller: Oh yes, I sure do, what is your email address?
Joe: it is XYZ. I can’t talk now but you can email them to me and if they are of interest I will follow up with you.
Mystery caller: sure thing Joey
Joe: I go by Joe
Mystery caller: bye!
45 seconds later I get an email with properties.
Then I get a text 2 minutes later that says “ Hey Joey, it’s XYZ we just spoke regarding me emailing you multifamily offerings to your email of XYZ. Well I just sent over opportunities for you via email so please get back to me at your earliest convenience! My email address is XYZ.”
…THEN, 2 minutes after I get a text I hear…Ring, ring, ring….
Wholesaler: Hello, Joe (I smile, small victories…), I wanted to call and tell you I emailed you the listings.
Joe: Yes, I know, I got your email. And I got your text saying you emailed me. I am very busy right now but will look at your email within the next two weeks and if it’s something I want to pursue will follow up. If not then I won’t.
Needless to say, I didn’t follow-up with him.
Ok, some takeaways:
Instead of peppering me with correspondence if the wholesaler instead took the following 2-step process I would be much more inclined to work with him on future deals even if these didn’t pencil out.
Step 1: Introduce himself and tell me he has off-market properties he’s wholesaling but, before he shares them with me, he’d love to learn more about me and what I am purchasing.
Step 2: after learning that he decides to send or not send me the properties. If he doesn’t send them to me I would have a lot of respect for him for doing so because he’s showing he will screen the stuff he sends my way.
BONUS: doing some research on background of people you’re calling by doing a simple Google search. And listening to the responses to adjust accordingly (Joey vs Joe).
Are you a wholesaler? If so, how do you approach your cold calls?