If you wholesale real estate, you need to understand that there are two types of sellers. Not every seller is created equally. To close more deals, it’s crucial to recognize these differences. In this blog, I will explain the two types of sellers that come from inbound marketing channels and how you can effectively work with each type to maximize your success.
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Understanding the distinctions between different types of sellers is essential for real estate wholesalers. By recognizing these differences, you can tailor your approach and improve your chances of closing deals. Let's dive into the two primary types of sellers you’ll encounter through inbound marketing channels.

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Type 1: The Initial Motivated Seller

How Can You Identify the Initial Motivated Seller?

The first type of seller is just beginning to realize their need for help. These sellers are starting to experience some pain and are becoming aware that they need assistance. They often begin their search online, looking for solutions to their problems.

• Early Signs of Motivation: These sellers are typically searching on Google or other platforms with queries like "how to sell my house fast" or "how to sell my house without a realtor." They are in the initial stages of recognizing their situation and are seeking information and education.
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• Self-Education and Research: They might be exploring options, reading articles, talking to friends, consulting lawyers, or reaching out to realtors. They are looking for ways to handle their situation, which could involve selling their home due to financial difficulties or other personal issues.

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How Do You Effectively Nurture the Initial Motivated Seller?

This type of seller requires more nurturing and education. They are not yet in a state of urgency but need to be guided through the process.

• Providing Education: It’s important to educate these sellers about the consequences of not taking action and the benefits of working with you. Explain the process and provide clear information about their options.
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• Building Relationships: These sellers are more likely to work with the first investor who has a meaningful, quality conversation with them. Building a relationship based on trust and understanding is crucial.
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• Long-Term Follow-Up: These sellers may take time to decide. Implement a nurturing process that includes regular follow-ups through calls, emails, and text messages. Tools like GoHighLevel or REI Rocket Force can help automate this process.

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Type 2: The Highly Motivated, Urgent Seller

How Can You Identify the Highly Motivated Seller?

The second type of seller is in a state of urgency. They are about to lose everything and need a solution quickly. These sellers are often facing foreclosure, significant financial distress, or other immediate pressures.

• Critical Need for Help: These sellers are actively seeking immediate assistance and are likely to respond to urgent queries like "sell my house fast" or "avoid foreclosure."
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• High Stakes: The consequences of not finding a solution quickly are severe, such as losing their home. These sellers need a quick and effective resolution to their problems.

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What Are the Best Strategies for Converting a Highly Motivated Seller?

Speed and efficiency are key when dealing with highly motivated sellers. They need quick solutions and are likely to go with the first person who can offer a viable option.

• Speed to Lead: Respond to these leads as quickly as possible. Ideally, your response time should be within 60 seconds to 5 minutes. Immediate follow-up can significantly increase your chances of closing the deal.
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• Effective Sales Process: Have a robust sales process in place. Your team should be trained to build instant rapport, identify the seller's needs, and present solutions effectively.
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• Offering Solutions: Be prepared to offer various solutions, such as cash sales, creative financing, or novation agreements. Tailor your offer to meet their immediate needs and provide a clear path to resolution.
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• Utilize Call Centers: Consider using a call center to ensure quick responses and consistent follow-ups. This can help manage leads efficiently and ensure no opportunity is missed.

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What Is the Importance of Having a Robust Sales Process?

No matter the type of seller, a strong sales process is crucial. Your ability to identify the seller's needs, build rapport, and offer tailored solutions can make the difference between a closed deal and a missed opportunity.

• Training Your Team: Ensure your sales team is well-trained in handling both types of sellers. They should be skilled in building relationships, understanding seller motivations, and offering appropriate solutions.
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• Using CRM Systems: Implement CRM systems like GoHighLevel or REI Rocket Force to manage leads and automate follow-ups. This can help keep track of communications and ensure consistent engagement with potential sellers.
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• Continuous Improvement: Regularly review and refine your sales processes. Seek feedback from your team and clients to identify areas for improvement and ensure you are meeting the needs of your sellers effectively.

Conclusion

Understanding the two types of sellers in real estate wholesaling is essential for closing more deals. By recognizing the differences between initial motivated sellers and highly motivated sellers, you can tailor your approach to meet their specific needs. Implement a strong sales process, nurture leads effectively, and respond quickly to urgent cases to maximize your success. If you found this guide helpful, subscribe to our channel for more insights on building a successful wholesaling business.

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Additional Resources

Best Sales Training: Sales Disruptors for just $97/month

Scale and Automate Your Marketing Agency: REI ROCKET FORCE

Find Inspiration and Behind-the-Scenes Content: @estenick

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