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The Titanium Vault hosted by RJ Bates III
RJ Bates III, affectionately referred to as the Viking Wizard by his students, started his real estate investing career in 2014 after attending a real estate education program that put him $65,000 in debt. RJ contracted his first deal he found on the MLS and wholesaled it for a $7,500 assignment fee. That was the end of his former life and the beginning of his venture into becoming a real estate investor. Since that moment, RJ has become an influential figurehead in the real estate investing industry. He has successfully purchased and sold over 2,000 properties all across the USA including wholesale deals, rehabs, rentals, owner finances and short term rentals. One of his passions is being the host of The Titanium Vault Podcast where he interviews the top real estate investors. He has won back to back Closers Olympics earning him the reputation as the King Closer! Finally, RJ and Cassi DeHaas, his partner, have started their education platform called Titanium University.
The Titanium Vault hosted by RJ Bates III
The Agreement Trap That's Killing Your Negotiations
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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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I've seen this new trend on seller calls where the wholesalers are just automatically defaulting to understanding and agreeing with anything and everything that the seller says. And this is a massive problem because you guys, the wholesalers, always want to ask me what open-ended questions should we be asking the sellers? And they're giving you this golden opportunity to ask them the most valuable open-ended questions, but you're ruining that chance by agreeing and accepting what they just said. Now, today's video comes from today's TU implementation call because we were discussing this topic, and several of the older, more veteran TU members were like, RJ, can you please go make a YouTube video about this topic? Because it is a massive issue going on during our seller conversations. So let's break this down. How did this topic come about? Well, it started off with one, a newer TU member, but he has been wholesaling for five years. But we're trying to change some of the things that he's done from previous trainings. But I think the guy's gonna be a killer, he's already doing deals, he's just adopting the closer's formula and the tu way of doing things. And so one of the issues that he's had happen on several recent seller conversations is that the sellers have told him, I do not want to work with a wholesaler, and so that was his question. And my immediate response was, Why not? And he's like, Oh, well, that's what they said. They just that they don't want to work with a wholesaler, and I'm like, I know. Why don't they want to work with a wholesaler? He's like, I don't know. They that's just what they said, they they don't want to work with a wholesaler. I'm like, I I hear you, but this is my point. This is how you should have responded to the seller. Okay, I hear you. You don't want to work with a wholesaler. Why not? What's the reason behind it? Have you had a bad experience with a wholesaler? What do you understand about a wholesaler? Why are you grouping with all wholesalers into one category? Are all wholesalers created equal? Do we all have the same skill sets? Do we all have the exact same process that we do on how we navigate our contracts? No, we don't. But see, Juan being new to the closures formula, he's still trying to understand kind of the framework of these conversations and didn't really embrace this moment during this conversation with a seller where this was a point of contention for the seller, and this was his opportunity to really dive deeper and quite possibly even understand the true motivation the seller has for wanting to sell their piece of real estate. He should have asked each and every one of those questions if necessary. Yeah, he could have simply asked one and gotten everything that he needs to understand about why this seller does not want to work with a wholesaler, which is that's what he is. He is a wholesaler. So what are we what why are you immediately writing me off? We've never even spoken. You have no idea how I do business, and it's probably based around what a previous wholesaler had done. My example of this was well, what about contractors? That everyone knows and believes that there are poor contractors, contractors that will take your deposit, not do the work, do poor work. Does this mean that every single person in this world is never going to hire a contractor? If you want to paint your house, does that mean you have to go paint the house? You want new flooring, you're gonna go install the flooring? No, you would still hire a contractor to go do that job. You're just gonna vet them out, you're gonna make sure that you're hiring the right contractor. It's the same thing here. Let's understand the reason why you don't want to work with a wholesaler and let me explain how I can take care of your needs differently, if I can, than that previous wholesaler or whatever idea you have around what a wholesaler can and can't do. And this would have all been resolved if we would not have just assumed the answer or agreed with the answer. I don't want to work with a wholesaler. Okay, got you. That makes sense. These agreeable responses that we default to are crushing your seller conversations, and this isn't this is just a perfect example of this, but this happens all the time. Us you ask a question, seller responds. Your default open-ended question could and probably should be explain that to me. What do you mean by that? I don't quite understand. One of the older veteran TU members that is fantastic at this is Jason Strickland. Jason Strickland is a magician when it comes to you just said that. Can you explain it to me in more detail? You've said this in the past. Can you tell me a little bit more about that? I don't quite understand what you said. And so, my message to all of Titanium University this morning, and now to you guys listening either on my YouTube channel or on my podcast, is stop pretending like you're so smart. Stop saying, okay, stop saying gotcha. And start being a little bit more dumb and saying, What do you mean by that? Can you explain that to me in more detail? I don't quite understand what you mean.
SPEAKER_00:I don't want to work with a wholesaler. Why not? What happened? Can you explain to me why? How'd you come up with that asking price? It's the dollar amount that I want.
SPEAKER_01:Why is it the dollar amount that you want? A lot of wholesalers out there just say, Okay, gotcha. Let's see what I can do for you. That's not an acceptable answer that the seller gave you. You are the buyer, you have every right to ask that question. And quite frankly, if they don't want to answer, that's probably your answer on whether or not you want to work with them or not moving forward. But you'll never get there if you don't ask the question. If you just accept the response that they give you, and you try to move on and come up with another open-ended question when they just handed you a free one. This is where seller conversations dwindle away, and they're they're rough to listen to, quite frankly. They're not productive, they don't lead to signed contracts because you're always seeking the next question, the next topic. Live in that moment and stay on topic and ask follow-up questions and stop pretending like you're so smart. The example that I gave today inside the implementation call was a seller who was a professional investor. Me and him had come to an agreeable price, and I was just about to close the deal. I had gone through the reverse rapport, I had hit him with the kill shot, and it was getting time for me to close the deal. And then he said, Hold on one second, I've got a question for you. What's that? He said, What do you have as the CSV on this property? And I said, I'm sorry, sir. I I don't know what you mean by that term. He said, Good because it's not a term. I was just making sure if you were full of shit or not. Send me that contract. Let's do some business together. Sometimes you pretending like you know everything in the conversation is hurting you. And as we continue to have this conversation today inside of the community, I started thinking about it as can this potentially lead to you being ghosted by sellers? And the answer is yes. Where if every time a seller says something and you're agreeing with them and you're accepting the response and you're not digging deeper, it can come across as lacking authenticity, not being real. You might feel like you're building that mythical rapport that you need with the seller, but in reality, they're feeling like they're talking to a salesman, a yes man that's just telling them what they want to hear. Instead of truly digging deeper and trying to understand their perspective and their situation before they make one of the largest financial decisions in their lifetime. So the next time you're on the phone with a seller, stop trying to be the smart guy, stop saying okay and yes, and gotcha, and start saying, Can you explain that to me? What do you mean by that? See how the conversation changes, how the tone changes, and how quite frankly, you will understand how to solve the seller's situation and their problem much better than you do right now. Let me know what you guys think of the comments. Hope you had a very blessed Christmas. We'll see you guys tomorrow.