You can do better than the status quo in wholesaling. Here’s how.

Wholesaling real estate requires you to master two skills: scoring great deals on properties and building a buyers list to sell contracts fast. 

Most wholesalers focus on the former first. But disposition of your contracts matters just as much, and many wholesalers leave money on the table by failing to master it. 

Try out these tips to sell your contracts faster, and even earn higher fees on them. 

Build Relationships with A Few VIP Buyers 

Too many wholesalers prioritize quantity over quality in their buyers list. 

A handful of buyers who know, like, and trust you are worth more than having a hundred buyers on a generic email list. Avoid wasting time on generic buyer lists, and focus on a small group of investors actively buying in your market. 

As you seek out these active, high quality buyers, invest heavily in getting to know them personally. These relationships will pay endless dividends in the years to come. 

Why Personal Relationships Pay Off

The better a buyer knows you, the more likely they are to actually close on your deal. These relationships also make for faster, smoother transactions, as they don’t feel the need to double check every word you say. 

Buyers also prefer to work with wholesalers they know and trust. Each of them has a limited investing budget, and limited hours in the week, so they have to pick and choose deals. You want them to prioritize your deals over your competitors.

When a buyer trusts you, they’ll jump on your deal immediately if it fits their buy box. No hemming or hawing, just a signed contract. 

In contrast, buyers often unsubscribe from mass email lists with wholesalers they don’t know well. 

How to Build Relationships with Buyers

If you operate locally, aim to meet with your buyers individually as often as you can. 

Walk through your property with them. Ask them about their family life, their hobbies and interests (and write down key details afterward so you don’t forget them). Take them out for a coffee or a happy hour drink, perhaps with spouses or significant others. 

If they have kids at similar ages as yours, propose a play date. 

Connect with them on social media. Shoot them a personal message congratulating them on a win, or offering personal support when appropriate. 

Send them a small gift or take them out on their birthday or anniversary. 

The relationship with them must be authentic and real. It can’t be faked. Get this right with the five to ten most active investors in your market, and you’ll never struggle to flip your wholesaling contracts again. 

Professionalize Your Real Estate Business

Professional athletes don’t duct tape together their shoes. So why are you trying to duct tape together your real estate business together?

If you want to earn profits like a professional real estate investor, use the tools your pro competitors are using. That starts with marketing and accounting tools like REsimpli. 

Don’t take our word for it. Try it out for yourself with a 30-day free trial. 

We look forward to hearing your feedback and successes after your first month running with the big dogs. 

How to Find Quality Buyers

Not sure where to find those five to ten best local buyers? 

Start here. 

Title Companies

Certain title companies specialize in working with real estate investors. You probably already work with one or two of them — start there. 

Start deepening your relationships with escrow and other title officers at these title companies. Follow all the same steps: start asking more personal questions, invite them out for lunch or a drink, get to know them better. 

Active investors close multiple deals through the same title company. These firms know which buyers are legitimate and actively purchasing properties.

As you build a genuine friendship with these title workers, you can then start asking about investors who they think are doing great work. Ask if they’re comfortable introducing you, ideally in person over a lunch or coffee or drink. 

Some title workers may hesitate to share buyer details directly, but they can pass your contact info along to their investor clients.

Not sure which local companies specialize in working with investors? Ask other investors and wholesalers that you meet. You’ll quickly get a few top notch referrals. 

Contractors

Likewise, some contractors work more with investors than homeowners. As you build your network of local contractors, start asking about their investor clients who do the most renovation jobs. 

And, of course, the better your relationship with these contractors, the more likely they are to help you. 

Foreclosure & Tax Auctions

Active investors often frequent local foreclosure auctions and tax auctions. 

Start attending these, and actively introducing yourself and networking. These buyers tend to be serious, repeat investors. 

Find Flippers Through the MLS

As a wholesaler, you should start identifying the local Realtors who specialize in working with investors. That goes for both the buyer and seller sides of the transaction. 

Again, aim to build real relationships with them. These real estate agents can help refer you to their best, most serious investor clients. 

Besides, they can offer another exit strategy — more on that later. 

You can also use the MLS and data tools like Privy and Batch Leads to find recent flips. Look for properties that sold twice within six months to find flippers, and look for the same names that pop up again and again for the most active flippers. Zillow data can also help you fine these. 

These transactions also help you identify real estate agents who work frequently with flippers, who can refer you to even more. You can keep working your way along the network chain this way. 

Driving for Dollars — Renovation Syle

As you drive for dollars looking for neglected homes, also look for homes under active renovation. 

Walk up and talk to the contractors, ask if the owner is an investor or a homeowner. Ask about their other investor clients as well, and particularly the flippers who do the most projects. 

If the contractors aren’t there at that moment, jot down their name from their yard sign and call them. 

Easy peasy. 

Expand Your Listing Website

You may already have a buyer’s website, attracting SEO or PPC leads from distressed sellers. But you can also have a disposition website or page, showcasing your properties for sale. 

REsimpli has templates that you can simply plug in, to get your own website up and running pronto. One buyer and one seller website are included in every REsimpli account, with additional websites available for an extra fee.

Quickly customize property listings with detailed descriptions, images, videos, and ARV documentation to build buyer confidence.

Use your own unique domain name, logo, brand colors and more to make it feel professional. You can customize our templates within a few minutes, to make your website feel entirely your own. 

Our template site includes a “Join Buyers List” widget, to help you grow your buyer mailing list.

The listing’s availability status updates automatically as the deal progresses, so buyers always see the latest information.

The 2-Step Process for Fast Disposition 

When you put a deal under contract, follow a two-step process to get it sold fast.

First, send individual, personalized text messages to your “VIP” buyers. These are those top five to ten buyers who you’ve built deep personal relationships with. Or better yet, pick up the phone and call them. 

Mention why you think this latest deal is a great fit for them specifically, such as the neighborhood or the degree of repairs needed. 

Tell them you’re giving them a first look before sending it out to your broader buyers list. Give them 24-48 hours advance notice, and tell them the day and time that you plan to send the mass email. 

If you’ve developed your core VIP buyers well, you’ll sell most of your wholesale deals without having to email your list. But if none of them bite, you can then send the email blast on the day and time you specified. 

And, of course, REsimpli’s messaging tools can help you send out that email to your entire list. You can also use REsimpli to send mass SMS messages to your buyers list after a certain delay, if you don’t get any takers after the email. 

Selling for the Highest Wholesaler Fee

To score the highest fee, try these tactics. 

First, set a submission deadline. It creates urgency, and you often get multiple offers that you can then use to create a bidding war. 

We’ve built offer collection directly into REsimpli’s platform. Buyers can submit their bids and required documents, so can view them all in one place. 

The platform also lets you set a minimum acceptable offer (which you can keep hidden). If a buyer submits a lowball bid below your threshold, the system automatically rejects the bid and tells them to try a higher offer. 

If you have multiple offers and a buyer submits a bid below the highest one, the system informs them you have a higher offer and encourages them to raise theirs. Again, this helps spur a bidding war.

Finally, REsimpli offers a “Buy Now Price” feature similar to Ebay. When a buyer really wants that property, they can snag it without bidding against other buyers. 

Alternative Exit Strategies

The two-step selling process outlined above works incredibly well. But it’s not the only option on the table.

Try these other three exit strategies to flip contracts as well.

List Properties on the MLS

Haven’t built much of a buyers list yet? You might find success listing the property for sale on the MLS. 

No, you don’t need to pay a real estate agent commission either. You can use flat fee MLS services like BrokerList.com to pay as little as $99-150. 

This method helps local flippers and BRRRR investors find you, rather than you going out and having to find them. 

For that matter, you may even get offers from home buyers looking for a fixer-upper. These buyers pay “retail” prices, since they aren’t investors who need to bake in a profit margin. 

Flip the Contract to Another Wholesaler

Likewise, if you don’t know any buyers but you do know other local wholesalers, you could cut them in on the deal in exchange for finding a buyer. 

You won’t earn as much as a traditional wholesaling fee of course, but a single phone call could get the deal moving forward, and you can still walk away with a few thousand dollars. Just don’t get too greedy with these. 

Again, this strategy offers a path forward in your early days, before you’ve built your buyers list. 

Earn a Referral Fee from Other Wholesalers’ Deals

It pays to network with other wholesalers, even newbies. They may refer you deals, and you could be the one who places them with a buyer. 

Stay in frequent contact with other local wholesalers, and ask about the deals they have in their pipeline. If one of those deals is a perfect fit for one of your VIP buyers, tell the other wholesaler and offer to partner on that deal. 

Tying It Together

A handful of VIP buyers who know and trust you are worth more than a generic buyers list with a thousand faceless recipients. 

Cultivate these relationships carefully, with the most active local investors. Get to know them personally. And when a deal comes along, call or text them individually to offer them first dibs on the deal. 

If that doesn’t work, you can email blast your entire list. And if that doesn’t work, you have several other disposition options such as listing the deal on the MLS or partnering with another local wholesaler on it. 

Collect your offers through REsimpli’s integrated platform for fast, easy offer review. Our CRM helps you filter out lowball offers and encourage higher ones — and fuel a bidding war to help you score the best fee for every deal. 

Take REsimpli for a free 30-day test drive to boost your marketing, close more deals, and earn more from each deal that hits the settlement table.