The Titanium Vault hosted by RJ Bates III

How To Build Trust With Sellers | Virtual Wholesaling Real Estate

• RJ Bates III • Episode 475

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If you’re new to my channel my name is RJ Bates III. Myself and my partner Cassi DeHaas are the founders of Titanium Investments.

We are nationwide virtual wholesalers and on this channel we share EVERYTHING that we do inside our business. So if you’re looking to close more deals - at higher assignments - anywhere in the country… You’re in the right place.

Who is Titanium Investments and What Have We Accomplished?

Over 10 years in the real estate investing business
Closed deals in all 50 states
​Owned rentals in 12 states
​Flipped houses in 11 states
​Closed on over 2,000 properties
​125 contracts in 50 days (all live on YouTube)
​Back to back Closers Olympics Champion
Trained thousands of wholesalers to close more deals

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Speaker 1:

how to build trust with sellers as a virtual wholesaler. So I'm going to be talking today based off of my own experience, which means we are 100% virtual, we never go do belly-to-belly appointments, we never go see the properties and we never meet these sellers face-to-face, which does add a bit of difficult I almost said difficultiness, but everyone makes fun of me saying that's not a word. It does make it a little bit more difficult. There you go that's the appropriate way to say it Then going out and meeting these sellers face-to-face, building that instant trust and rapport. Now, one of the things I want to differentiate is today I'm not necessarily talking about rapport. I'm talking about the trust that they find to sign a contract with us to sell their property. I think a lot of times wholesalers have a tendency to try to build meaningless rapport and it doesn't necessarily mean that you're the best solution for that seller. So as we go through, I want you to understand I'm not talking about that sort of rapport where you're trying to become their friend or talk about things that are irrelevant to the transaction. For those of you that have been following me for a while, you know I really don't like that and I don't like to see that inside of seller conversations.

Speaker 1:

Okay, so number one, prior to calling the lead. So this is you know, before you even dial the number, speak to the seller or anything, make sure that you are prepared to have the conversation that you need to have. What I mean by that is I see people stumble in the first couple of moments of a conversation because they're just moving so rapidly that they don't take a split second to prepare themselves. For example, inside of speed to lead. It tells you how they generated that lead, whether it was a PPC, a Facebook ad, a cold call lead, whatever it is. If you're not taking the time to understand how that lead was generated, one of the most important things that you wanna do when you're immediately talking to the seller is identify how you got their contact information. So if you're not prepared to do that, if you don't even know where this lead came from, then you're going to set yourself up for failure. Next thing is also understanding how to say the seller's name. If you don't know how to say the seller's name, then ask for the owner of the address. There's going to be times where it's maybe a foreign name, maybe it's difficult to enunciate, I don't know. Just don't set yourself up for failure by immediately starting off and saying the wrong name or mispronouncing the seller's name. Ok, so set yourself up for success early on, prior to the call. Make sure that you are prepared for how you're going to introduce yourself, how you are going to proclaim to the seller how you got their contact information, the seller how you got their contact information.

Speaker 1:

The second thing in the intro this needs to become something that you basically repeat yourself over and over and over again. I see where a lot of times, people have an issue early on in conversations, inside of the intro, with trying to again build that meaningless rapport by saying things like how are you doing today or how's your day going, and then, based off the seller's response, they then have to determine how they're going to respond to that. So I try and I'm not perfect at this, I still make mistakes where I will accidentally ask the seller how they're doing or how their day was going or something like that. It's human nature, okay, but try to eliminate that as much as possible. So early on in the conversation. You guys have probably heard this hundreds of times Hello, hey, is Jay there? This is Jay, hey, jay, this is RJ Bates. I was reaching out because you spoke to someone on my team about selling 123 Main Street. Are you still looking to sell that property? Yeah, the price is right. Awesome, what's the right price? That is muscle memory. I've done it so many times that almost every single one of my conversations now with a seller goes that exact same way. This is what I mean by become machine-like with certain parts of your closing process.

Speaker 1:

The intro is extremely important, and so, as I was preparing for today's video, I actually looked up I just did a simple Google search of the importance of first impressions and Google AI. I just I love it. Sometimes it just gives me so much and so, bear with me I just I found this fascinating, as this is the response that that simple of a Google search gave me and I basically couldn't summarize it any better. So I'm just going to kind of read some of these, because the intro and that first impression that you're giving the seller is so vitally important to how the rest of the conversation is going to go. So here are some of the things as to why first impressions matter.

Speaker 1:

One people often form quick judgments based on initial encounters, and these impressions can be difficult to change. So imagine if early on in the conversation, you're stumbling on your words and you don't know how to say the street name. Or maybe I've even seen this before where they say the wrong street name or you say the seller's name incorrectly and it leads to a very awkward conversation. Starting off, that lasting impression can be very difficult to change later on. If you're trying to get that seller to sign a contract right, it just it immediately puts them in a position of I just don't know if you're the person that I want to do business with and it almost eliminates one of the massive benefits of having an inbound lead, because it feels like it's a cold call, like you're calling out of the blue, and so you're kind of on the back burner right there and you're really removing one of the massive benefits of having an inbound lead.

Speaker 1:

The next one in the workplace a good first impression can lead to better opportunities, collaborations and advancement, social interactions. First impressions can influence whether people choose to approach you, trust you or become your friend. People choose to approach you, trust you or become your friend. So when we're looking at this basically all of these things we're trying to accomplish inside of a seller call. We want to build a relationship, we want a professional opportunity In the social interactions. It literally says that first impression can influence whether or not they trust you and that's what we're talking about today. So this first impression of how you start off that conversation is vitally important. And the business success says, in a business context, a positive first impression can lead to increased sales. Funny enough, that's what we're talking about Customer loyalty and a strong reputation. So later on we're going to get down to the importance of a website and reviews and testimonials and a BBB rating and all this, but very rarely does that come up on our seller calls here at Titanium Investments, our seller calls here, titanium investments. Now look at this and I say that earth suppression can lead to having a strong reputation. This is not my theory. This is literally from a Google search on the importance of first impressions.

Speaker 1:

People make quick assessments, often within seconds, based off of your appearance, which they don't see us demeanor and communication style. So what can you take away from the way that I approach the first 30 seconds of a live seller call? It's very direct, it's to the point. They understand what I'm calling about and we're getting right to the meats and potatoes of that conversation. Do you want to sell? How much do you want for it? Tell me what's going on. This is why I love the closers formula. It's why we my personal opinion, I mean, I think it's based off of facts at this point succeed so much with talking to sellers, and very rarely do we have awkward conversations.

Speaker 1:

Now, one of the things that I want you to always convey in these seller conversations especially early on, but throughout the conversation is confidence. You are the real estate expert. You need to be instilling confidence inside of that seller throughout the process, that you understand what is taking place and the reason why you're asking questions is because you are gathering information to provide them a solution. Do not be afraid of saying those exact words to a seller if they start pushing back and asking you questions around. Why are you asking me all this? Why does that matter? You can look right at them with confidence and say the reason why I'm saying this is because this is what I do all day long and I want to make sure that I am providing you with the best solution possible. And if you say that with confidence, it immediately will earn you that seller's trust. Next up, mirror the seller and speak their language. So, inside of TU and for those of you that have picked up the King Closers War Chest, which you can pick up now for $97. It's in the description down below.

Speaker 1:

We did the 10 types of sellers and I broke down depending upon their motivation whether they're a tired investor, there was a death in the family, they inherited the property, financial distress, a physically distressed property, an owner-occupant depending upon their situation, the different types of motivated sellers. And when you look at that, there's going to be about 50% of them that are emotional conversations, about 50% of them that are going to be very logical conversations where there's lack of emotion. So, for example, a tired landlord is probably going to be a very logical conversation and lack of emotion. It's going to be very numbers oriented and like a business transaction. But if a wife just lost her husband and she needs to sell the property because she can no longer afford it, that's probably going to be a very emotional conversation and lack quite a bit of logic. This is where you have to mirror that seller, wherever they are and speak their language, no matter what that looks like.

Speaker 1:

One of the best examples of this and unfortunately I'm not the owner of the video right, so I can't share this with you guys was in the 2023 Closers Olympics. On my first round on Saturday, I talked to a brother who had inherited a property with his sister and it was a very emotional conversation, but not the type of emotion that you would think See. More often than not, when we think of emotion, we think of tears, sadness. This was anger and somewhat passionate conversation, and his language that he was using was vulgar. He was very outspoken about how he did not like his sister and he was very upset in the fact that he even had to do this transaction with his sister. Now I had to mirror that. I had to match that energy. So how did I do that? Got loud, I talked back, I used the same tonality that he was using and I used some of this exact same vulgar language that he was using.

Speaker 1:

Now some might look at that, say that's unnecessary. I look at it and say I'm just doing my job. If I have to drop a couple f-bombs and say shit every now and then, then it is what it is. Do I do that often with sellers? No, very rarely, but to mirror a seller and to speak their language and to earn their trust, that I understand what they're going through. What I've seen is that if you put yourself in their position and you act and you interact with them the same way that they are with you, that is what builds trust and credibility with them and you're more likely to get the contract than if you were to sit back and not try to merit them and not try to match their interactions with you.

Speaker 1:

Okay, now, if it's one of those situations where they're very standoffish, what are we trying to do immediately after the first two questions inside the closers formula Do you want to sell? How much do you want for it? Then we move on to open-ended questions. We are trying to determine their motivation for wanting to sell this property for a discount. If they are standoffish, you have one of two choices. You can either just slap them upside the head and ask them why do you want to sell this property? Come on, open up to me. You got to just slap them upside the head and ask them why do you want to sell this property? Come on, open up to me, you got to sell me on the property. Or you can run away and see if they chase after you Pull away. Okay. Well, it sounds to me like you don't really need to sell the property and maybe this is just a waste of my time. Whenever you decide that you're ready, you want to give me a call back, see if they chase after you. Now, that's a very aggressive route. I suggest the majority of you if you're struggling on closing deals, just slap them upside the head with a point-blank question. I'm going to need you to open up and talk to me a little bit here. Okay, tell me what's going on, get them to open up up and then from there you can continue the conversation.

Speaker 1:

The next thing one of the best ways for you to instill confidence with a seller is with your solutions. So, as you're talking to a seller whether or not it's an emotional conversation or a logical conversation as you start determining their needs right, you're going to find out if this is maybe a timeline issue, a physical distress issue, financial issue, whatever that issue is that motivation as to why they want to sell. You need to focus your solution that you're providing to them by buying the real estate on that motivation, and you need to do that slowly, and more often than not, it's going to take multiple times for you to kind of repeat the solution for them to really grasp it and then also embrace it. So slow down, understand that we do this all day, every day. But sellers, this is a very rare occurrence for the majority of them, majority of people always sell two, three, four houses ever in their lifetime. So it's a very massively large decision for them, whereas it's just a massively large decision for them, whereas it's just a common occurrence for us. So slow down, but instill confidence that your solution solves their problem and explain how it does that. So, whether or not it's a cash offer that can close on their timeline.

Speaker 1:

I had a great question earlier today inside of TU. Sandra Nesbitt asked Offerpad has offered this seller $16,000 more than what I can offer. The problem is Offerpad wants them out in three days. He doesn't want that. He wants a lease back. So he wants to receive his money and then he wants to lease back the property for several weeks so he can find his new place, move out and do all the things. She said how do I close the gap on that $16,000 difference? I said you don't. I said you don't. You beat OfferPad with the convenience, the solution. So we build trust and we instill that confidence that we can be a better solution for them. Yes, it comes at a price $16,000, for example, on this one but that's where the seller then has to make that decision Do I want more money or do I want more convenience? Honestly, the only way that I have found that we can beat iBuyers like Offerpad, open Door, zillow, redfin, whatever it is is through the convenience factor and really understanding what their motivation is and everything that they need, because more often than not they don't just need to sell the property, they need something else, and in this case he needs a lease back, he needs time. We can offer that. So Sandra needs to go back to the seller and probably four or five times repeat herself on the fact that the solution that she's offering checks all the boxes, but it just comes at a price. But if that's more important than just money which a lot of times it is See, we're real estate investors, we're very money oriented Wholesalers. We're looking at it, we look at the numbers and we think that that's the most important thing. But to sellers it's not always. There's other factors that come in and it's our job to determine that, and we do that to questions, which Sandra's done. So now she has to instill that confidence with her solution. Done so, now she has to instill that confidence with her solution.

Speaker 1:

The next thing transparency. This is honestly. If you had to ask me why do I think I can close better than anyone, it's because I have no problem being completely transparent with sellers about what's taking. Using another example from the Closers Olympics, when we go back to the first round of 2021, I actually tried to sell my initial seller on the titanium crucible during the Closers Olympics. He had a duplex. It was his first ever deal. He wanted to sell that duplex so then he could take the funds that he was gonna receive from that and invest into more real estate. I said if you want to learn more about real estate, then you need to come learn from me. I'll teach you more about real estate investing than anyone else out there. Transparency Talking to them like I would anyone else. You want to learn about real estate investing? I can be your solution. Let me help you.

Speaker 1:

Just the other day, I call up a seller. He said, well, yeah, there's a speed lead, cold call lead. He said yeah, someone from your team called me and asked me if I want to sell property. I said sure, if you offer me the right price, I'll sell anything. As we continued through the conversation, we found out, of course, he doesn't want to sell the property for a discount. He wanted full market value. He goes well, you're an investor, I know that's not going to work for you. Then he asked so how does this work? I mean what? You got a cold call center. You just got a bunch of people calling everyone up and just asking if they want to sell their property. Now Speed Lead asked us to not do this, but I'm looking at this and I'm going this is a real estate investor. I have an opportunity here. I'm not going to buy this guy's house Said well, to be quite frank with you, I spent $300 to have this conversation. I purchased this lead from a company called Speed Elite. They cold called you. You said you wanted to sell. I spent $300 to have this conversation.

Speaker 1:

I'm live on YouTube right now with nine of my community members inside of Titanium University. They're also calling sellers from Leeds. Purchase from Speed to Lead. If you want to learn how to do this, hop on to YouTube. Check out the comments. Watch the guys on here. In the past 30 minutes, we've locked up four deals Transparency about what's taking place.

Speaker 1:

You can do this to whatever degree you want to take it. People are always like RJ. I hear you when people ask about credibility and who are they doing business with? You say Google my name, go, look me up. You can see my podcast going all the way back to 2017. You can look up my YouTube channel, my Instagram, all this other stuff. I don't have that. Here's my response. Neither did I when I used to say it back in 2016 and 2017 and 2018. The conversations weren't any different back then. It was just what I was pointing to was a little bit different. I was pointing to whatever I had. Here's who I am. Here's what I could do for you. Here's what I've done in the past. Transparency, whatever that looks like.

Speaker 1:

Mr and Mrs Seller, I can't purchase your property, but here's what I can do. I have a lot of buyers in the area. I know a lot of investors that I can wholesale your property. Are you familiar with that is no, I'm not. Once we sign a contract, I have equitable interest to purchase your property. I can present that to another group of investors and if they want to purchase my equitable interest in your property. For a fee, I can assign it to them and they can be an end buyer. That's what I can do for you. That's called wholesale Transparency. Try it out, watch how good it works Next up. I've seen this a lot on my my live seller calls, especially those that end up in contracts, and I clip them down into those 15, 20, 30 minute conversations. You guys love those videos. I have more of those on my channel than any other person on youtube.

Speaker 1:

Frequently you guys say RJ, you found a way to talk to that seller like you had been friends for years. How do you do that? One, I listen. Two, I ask questions. It's as simple as that. Go back and think about all of the great conversations that you've ever had. Great conversations come from one person asking questions, the other person answering and then asking a question back. That person answering and then asking a question back. That person answering and then asking a question. Bad conversations come from people that just talk. They talk to you, they're not talking with you. There's no listening, there's no conversation back and forth. This is why I don't like sales scripts, those ones that ask you how old's your roof? When was the last time the HVAC was replaced.

Speaker 1:

Let's get you in a close-ended conversation where it's more about you dictating what that person's going to say to you. They give you a quick response back and then you're asking the next question. Our ability to have these conversations where it feels like we're friends and we've been friends for years, comes from well, tell me a little bit about what you got going on the open-ended question and then from there they start answering, listening to what they say and asking them a follow-up question. This is what leads that conversation, because what's happening when I ask them those open-ended questions? They're telling me more about their story, their journey, their motivation, and this is what allows me to then understand what I need to talk about, because I'm learning about them. It's not about us, it's about them. This is why I say all of those sales scripts suck because it's about us. We make it about us and the property we want to know about, the roof and the HVAC and these types of things. It's irrelevant. All of that will come out if we just really open it up and allow them to talk about themselves.

Speaker 1:

Last thing In order to build trust with a seller, do you need to have a website? Do you need to have a BBB, do you need to have testimonials and do I need to be a big company? And the answer is no, you don't need any of that. However, it does become valuable at times. There is a certain percentage of people, just by nature, that are going to be skeptical and they're going to feel better doing business with someone that does have a website. There's going to be a certain demographic of people out there that really trust BBB reviews. Having a large company is absolutely unnecessary use. Having a large company is absolutely unnecessary, but there is one way that you can always communicate as if you are a large company.

Speaker 1:

My company is Titanium Investments. We've been in business for a little bit over a decade now. We've done transactions in all 50 states. Now, nowhere in there did I talk about how many people we employ, how much money we've made or anything like that. Now, that exact phrase or the way that I described my company has transitioned over the years. In 2020, it was my company's titanium investments. We've been in business for five years. We've done deals in 26 different states.

Speaker 1:

In 2017, it was my company's titanium investments. We've been in business for the past three years. We've done deals in five different states. The results pretty much have always been the same. A website does help you from the perspective of it makes you look like a more legitimate business. I do suggest the majority of you should, if you can afford roughly $100 a month, have a website for your company. It doesn't even have to be for lead generation, it could just be a simple landing page. You can afford an additional $60 a month. Join the BBB. You're basically paying for that A-plus rate. So those are my main ways to build trust with sellers.