Want to get ahead in the competitive world of real estate? Here’s a quick tip: Outshine your wholesaler competition. Let’s break down how you can do this effectively.
When you’re eyeing that next property, remember it’s crucial to know every tool available to you. Whether it’s wholesaling, fixing and flipping, or owner financing, you should be adept at using each method.
Spotting the Competition
Imagine this scenario: You’re ready to buy a house, but you find out you’re not the only one interested. Most of these competitors are probably wholesalers. Here’s a smart move: Ask the seller some probing questions.
For instance, ask if the other buyer left a contract. If they did, check if it says “and/or assigns.” This phrase is a dead giveaway that you’re dealing with a wholesaler.
Explain the Wholesaling Game
Now, it’s time to educate the seller. Explain that the market is swamped with new investors, many of whom are wholesalers. These wholesalers contract homes cheaply and then hunt for investors, like you, willing to pay more. They bet they can offload the contract to you for a profit without ever closing the deal themselves.
Tell the seller that if they sign with a wholesaler, they’ll likely get calls from multiple people interested in visiting the property. These “partners” are usually just potential buyers for the contract. You, on the other hand, are the real deal. You’re the one who will close the deal and be at the closing table.
Use Visuals to Your Advantage
Actions speak louder than words. Take out your phone and show the seller an email from a wholesaler. This visual aid makes it clear what happens after signing a contract with one of them. They’ll understand that wholesaling involves chopping up the deal and passing it around.
Close the Deal
Finally, reassure the seller that you’re the buyer who will be with them till the end. You’ll be at the closing table, signing the check. This builds trust and cuts off your competition right at the knees.
Takeaway
In the competitive world of real estate, standing out from the wholesaler crowd requires a strategic approach. By understanding and leveraging your tools, identifying your competition, and educating sellers on the nuances of wholesaling, you can position yourself as the reliable choice. Use clear communication and visual aids to build trust and underscore your commitment to seeing the deal through.
Remember, it’s not just about making an offer; it’s about reassuring sellers that you are the buyer who will be there until the final signature. This approach will not only help you outshine your competition but also secure more deals and build lasting relationships in the industry.
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