Episode Details

HFHQ 21: Approaching and Dealing with Sellers – Sharon Vornholt (Part 2)

Published 12 years, 7 months ago

Description

You can hear Part 1 of this interview here.

Sharon Vornholt from Louisevile, Kentucky is a master marketer, wholesaler, and really understands the probate and absentee owner process. In part 2 of our interview Sharon shares details on how she connects with and talks to potential sellers. She also explains her process for getting properties under contract and where she finds buyers to wholesale her properties to.

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Show Notes

In this episode we cover:

Sharon's process when on the phone with a potential seller
- Confirm phone number and name
- Have them describe the property and conditions of major systems (heat, electric, etc.)
- Have the kitchens or baths been redone in the past 7 or 8 years?
Understanding a seller's motivation for selling the house. “What are you looking to get?”
What Sharon does when she visits a house
How Sharon draws up her contracts and initiates the closing process
- The type of contract Sharon uses
Why you shouldn't get caught up in the probate process
Where Sharon finds her best buyers
Why marketing to sellers is a long-term process and you need to stick with it.

Memorable Quotes

“Try to find out what their motivation is. It's always money, but there is always something else” ~ Sharon Vornholt
“I use a simple one page contract that pretty much anyone can understand” ~ Sharon Vornholt
“My best buyers were found in my REIA group” ~ Sharon Vornholt [Tweet this!]
“People think you need a million buyers. You don't. You really only need three.” ~ Sharon Vornholt [Tweet this!]
“Marketing is a long-term strategy. Direct Mail is a long-term strategy” ~ Sharon Vornholt [Tweet this!]
“90% of your deals will come about at your fifth mailing or beyond” ~ Sharon Vornholt [Tweet this!]

Transcript

Click here to Read and Download the Transcript for Episode 21