Rebuttals/Scenarios
What is the best response: I currently have other offers that are higher than yours…
Is there anything important to the seller that's not being met?
Are they cash offers like mine?
State 3 ways you are different/better than your average wholesaler?
Real Estate License
Fund our own Properties
Transparency
Largest Qualified Investor Database
Operate an Online Marketplace
1) What is an acceptable offer-to-available conversion rate?
2) What is a good available-to-sold conversion rate?
1) 10%+
2) 55%+
What is your approach to preparing for a negotiation?
Gather information beforehand
Envision the best-case Scenario
Have a backup plan
What can you push on vs what you can compromise on
Be prepared to walk away
In detail, what is a "short sale"?
A short sale is when a homeowner sells their property for less than what’s owed on the mortgage, with the lender’s approval, to avoid foreclosure. It can hurt credit but usually less than foreclosure, and the process is slower and paperwork-heavy.
What is the best response: My seller wants a buyer who is willing to go hard with their EM and no contingencies...
Why is that? My buyer would not need a long inspection. Less than 5 days. They want to make sure they do their due diligence.
What are the best practices when terminating a contract at the end of an option period?
Call the Contact (use the phone)
Proper Documentation
Proper Timelines
Retrieve Earnest Money
What are some ways an agent could improve their available deal conversion?
Dropped Deal Analysis
Closed Deals Review
Competition Deal Review
What does the tactic "Dropping the Anchor" refer to?
The first offer, which can significantly influence the subsequent negotiation by anchoring the discussion around that initial number.
What can you do to earn future business from a contact after closing a deal with them?
Ask for More
Ask for Referrals
Exchange 5-star reviews
Give a Token of Appreciation
What is the best response: We've had an unfavorable experience with New Western in the past. Why would this be different?
Tell me about that experience... What happened? Bring value.
What are the 3 ways to identify Wholesale Connections?
Identify who is using Pay-Per-Click
InvestorLift
Networking Events
Show us your main list view in Salesforce to track your previous offers?
show off List View
What is the number one objective on your investigative call?
Collect Information that you can Leverage
Is there anything that's important to the seller that I should know about? (hidden motive)
What are your local AA Rules? (claiming & stealing)
GM Confirm
What is the best response: There have been three previous investor offers on this property, all of which fell through...
and this is why we are perfect. We have the most qualified investors in the area. We will get quite a few eyes on it ultilizing our Marketplace, which will increase the chance of us getting this closed.
Acting like I'm a local wholesaler, describe the VALUE that you bring that would make me want to work with you?
Easy Button
Most Robust list of Qualified Investors
Available and Responsive
Knowledge of the Market
Knowledge of Deal Structure (paperwork)
Protection against Fraud
What are the top 3 ways to increase your offer conversion rate?
3 Touch Rule
Utilizing Call/Task in Salesforce - follow up
Accurate Comping
Appropriate margins per area
Physically viewing the House
What is “mirroring,” and how does it help build rapport during a negotiation?
Repeating the last 2-3 words the other person says.
(contact feels listened to - encourages them to expand their thoughts - uncovers hidden motives - makes other party feel in control)
Show your 2025 goals to the team (or what you want to accomplish this week)
You did it or you didn't
Tell me about the cover page and addendum that you sent with the contract?
best explanation based on transparency
Points awarded to the team that conducts the most meetings (virtual/in-person) with new wholesaler connections.
GMs to post in the GroupMe thread. Due by 5pm on Friday
If you convert 12% of your offers to availables, and your available conversion is 75%, how many offers do you need to send to get 3 buys?
34
Sell me this pen.
Ask pointed questions regarding the needs of the client. How long have you been using pens? What kind have you used in the past? What do you need it for?
Based on what you've said, this pen is perfect for you, let me tell you why...
Points awarded to the team that posts the most REVIEWS. (Google, FB, Glassdoor)
GM post on the GroupMe thread by 5pm Friday