4 Best Wholesale Real Estate Cold Call Scripts

From this article, you’ll learn how to speak confidently to potential home sellers over the phone, by utilizing our cold calling script for wholesaling real estate.

We will show you how to quickly determine if the homeowner is interested in selling.

You will also learn how to determine if they will consider an offer under market value and how to build trust with the homeowner so they feel comfortable continuing the conversation.

Keep reading to learn how to cold call most effectively.

When you are cold calling, your goal is to qualify a lead. You want to determine quickly:

1. if the owner is motivated to sell their home. You don’t want to waste your time speaking to an individual who might or might not sell in the future. You want to find the ones that need to sell today.
2. if there is an opportunity to get the property for less than its market value. You need to know the equity currently in the property. If the seller is only interested in a market value offer on their property, or if there is not enough equity in the property, you will not be able to get a discount on this house.

You want to get these questions answered as quickly as possible through an effective cold calling script for real estate wholesalers.

Cold calling is about effectively managing your time and ending a conversation when a lead is unqualified.

The time you spend speaking to an unmotivated seller is time you could be talking to someone ready to sell.

Below is our real estate wholesaling cold calling script, broken down to show you how to speak to homeowners in different situations. I hope it helps you start wholesaling real estate easily.

If you know the property you are discussing is in bad condition, you want to approach the situation delicately.

There are various reasons why a property could fall into disrepair. But if it’s obvious that the house has been run down for a long time, the owner has likely fallen on hard times.

You want to empathize with the homeowner and let them know you understand the stress of maintaining a property. Then, you want to provide a convenient solution for their problem.

Start your call by asking if you are speaking with the owner. It’s one of the most helpful questions to ask motivated sellers.

This will help you avoid wasting time on talking to someone who is not the decision maker.

Script

You: Hi, my name is _____ from ____, and I’m calling about a property I believe you own at ___. Can you confirm you are the owner?

If the homeowner confirms they are the owner, continue (and if they don’t, ask how to get connected with the owner).

You: Great! I’m a local investor who works with homeowners like yourself.

I noticed your property needs a significant amount of work to bring it back to its full potential, and I’d love to make you an offer.

I buy properties with cash and in their current condition, without requesting owners to make any repairs.

I can close on your terms and timeline, very quickly, unlike if you used a real estate agent. Would you be interested in selling your property to me?

If the homeowner seems interested in learning more, continue.

You want the seller to speak about the property as much as possible to better understand its value. Take notes even if you already have the information.

Ask the following questions one by one.

You:

1. Can you tell me a little more about the property, such as the number of bedrooms, bathrooms, and square footage?
2. Can you give me an idea of the work that you’ve done to the house and the most pressing issues that need to be addressed?

You: Thank you for that information. That is very helpful.

Because we buy properties for cash and on the seller’s terms, we only buy at a discount.

This means our price will be a bit below market value, but the benefit of working with us is that you do not have to:

1. spend any cash upfront for repairs, or anything else, before getting cash for your home at closing
2. you won’t have to share the profit with a realtor
3. you won’t need to prepare the house for real estate photographers, home stagers, and conduct showings
4. and you won’t have to advertise the property looking for a buyer.

Does this sound like something you would be interested in?

If the homeowner says they won’t sell at a discount, thank them for their time and end the call.

If the homeowner asks to hear your offer:

You: I can definitely get you a number. Is there currently a mortgage on the property?

If the homeowner says yes, ask if they can tell you the amount of money remaining on the mortgage and explain that this information is necessary for you to get them your best offer.

If the homeowner gives you a reasonable number, continue the conversation.

If they say a number that doesn’t leave enough equity for you to wholesale the property, thank them for their time and end the conversation.

If the homeowner says no mortgage, they own the property free and clear, which is ideal for a wholesaler.

If you can get an idea of the property’s market value on the spot, you can make a verbal offer over the phone.

However, you will most likely need to pull comps and do more research to come up with your offer.

You: Got it. I am going to do some more research so I can get you our highest and best offer.

Once we agree on a number, I will send over a contract for you to sign.

I ask for a 24-hour inspection period after we are under contract so I can walk the property, get an idea of the rehab costs, and ensure it’s in line with my original budget.

May I call you at (give a specific date and time) ____ with a concrete offer?

Set a time to call them back and confirm that that time works for them. Nothing is worse than knowing the seller is motivated but being unable to get a hold of them again.

Homeowners that are facing foreclosure are most likely going through one of the roughest patches in their life.

It’s essential to be polite and empathetic when discussing their property and current situation.

Although finding distressed properties is one of the most popular ways of finding houses to wholesale, speaking with such homeowners often requires patience.

Prepare to get a lot of hang-ups as this is an emotional time for a homeowner. They are probably dodging calls from bill collectors, their mortgage company, etc. So finding foreclosures may be the easy part compared to connecting with the owner.

Here is a script to use when speaking to distressed home sellers going through foreclosure.

Script

You: Hi, my name is ___. I’m from ____, and I’m calling about a property I believe you own at ___. Can you confirm you are the owner?

If the person confirms they are the owner, continue (and if they don’t, ask how to connect with the owner).

You: Great! I’m a local real estate investor who works with homeowners like yourself.

I was looking through the county’s public records and noticed your property has been served a notice of foreclosure.

I’d like to buy the house from you so that you avoid the foreclosure process.

In a pre-foreclosure period, the homeowner has a limited time before the house goes to the lender auction with further eviction process.

At the same time, a normal real estate sale, with a realtor, can take a few months or up to a year, especially looking for a buyer who’d be willing to buy a house that is about to be foreclosed on.

I can buy your home quicker than that, before the foreclosure happens. Additionally, you do not have to:

1. spend any cash upfront for repairs, or anything else, before getting cash for your home at closing
2. you won’t have to share the profit with a realtor
3. you won’t need to prepare the house for pictures and showings
4. and you won’t have to advertise the property looking for a buyer.

Is this something you would be interested in?

If the homeowner seems interested, continue to the question with a *.

If the homeowner is upset or suspicious:

You: I know this call is a little out of the blue.

I’ve helped many homeowners like yourself avoid the headache of foreclosure, and I find it very rewarding when I can provide a solution for a stressful problem.

There is absolutely no pressure to accept my offer or work with me. I would just like to give you an option and see if it works for you. Does that sound okay to you?

If the homeowner says yes, continue.

You want the seller to speak about the property as much as possible. Take notes even if you already have the information. This will help you assess the property’s value more accurately.

Ask the following questions one by one.

*You:

1. Can you tell me a little more about the property, such as the number of bedrooms, bathrooms, and square footage?
2. Can you give me an idea of the work that you’ve done to the house and the most pressing issues that need to be addressed?
3. Can you tell me about how much you owe on the mortgage? I need this information to understand if there is enough equity in the property for me to make the deal work.

If there is not enough equity, thank them for their time and end the conversation. If they give you a reasonable amount, continue the conversation.

If you can get an idea of the property’s market value on the spot, you can make a verbal offer over the phone.

However, you will most likely need to pull comps and do more research to come up with your offer.

You: Got it. I think I can help you out. I am going to do some more research so I can get you our highest and best offer.

Once we agree on a number, I will send over a contract for you to sign.

I ask for a 24-hour inspection period after we are under contract so I can walk the property, get an idea of the rehab costs, and ensure it’s in line with my original budget.

May I call you at (give a specific date and time) ____ with a concrete offer?

Set a time to call them back and confirm that that time works for them. Nothing is worse than knowing the seller is motivated but being unable to get a hold of them again.

Heirs are among the most popular types of motivated sellers.

Inherited houses are often unwanted by heirs. For many real estate investors, looking for these properties is the best way to find houses to flip.

Individuals who inherit a property are often overwhelmed with the task of maintaining it.

Often, an elderly family member has let the home slip into disrepair, and there is a lot of work that will cost time and money.

Many owners will consider your offer if you can provide an easy and hassle-free solution to sell the home.

Here is a script to use when speaking to owners of inherited properties.

Script

You: Hi, my name is ___ from ____, and I’m calling about a property I believe you inherited at ____. Can you confirm you are the owner?

If the homeowner confirms they are the owner, continue (and if they don’t, ask how to connect with the owner).

You: Great! I’m a local investor and I’m very interested in buying your property.

I help out owners like yourself who have inherited a property and don’t want to deal with the headache or spend the money on maintaining or fixing it up.

I can give you a cash offer on the property and close on your terms and schedule. If you decide to sell the house to me, you won’t have to:

1. spend any cash upfront for repairs, or anything else, before getting cash for your home at closing
2. you won’t have to share the profit with a realtor
3. you won’t need to prepare the house for pictures and showings
4. and you won’t have to advertise the property looking for a buyer.

Does this sound like something you might be interested in?

If the owner seems interested, continue.

You want the seller to speak about the property as much as possible. Take notes even if you already have the information. This will help you assess the property’s value more accurately.

Ask the following questions one by one.

*You:

1. Can you tell me a little more about the property, such as the number of bedrooms, bathrooms, and square footage?
2. Can you give me an idea of the work that you’ve done to the house and the most pressing issues that need to be addressed?
3. Can you tell me about how much you owe on the mortgage? I need this information to understand if there is enough equity in the property for me to make the deal work.

If the homeowner gives you a reasonable number, continue the conversation.

If they say a number that doesn’t leave enough equity for you to wholesale the property, thank them for their time and end the conversation.

If you can get an idea of the property’s market value on the spot, you can make a verbal offer over the phone.

However, you will most likely need to pull comps and do more research to come up with your offer.

You: Got it. I am going to do some more research so I can get you our highest and best offer.

Once we agree on a number, I will send over a contract for you to sign.

I ask for a 24-hour inspection period so I can walk the property and get an idea of the rehab costs to ensure it’s in line with my original budget.

Will you be available to meet me at the property in the next few days?

If the owner agrees, continue. If they are unavailable, let them know you will need to see the property before moving forward and try to find a time that works for them.

If they live out of state, see if a friend or family member can meet you.

You: May I call you at (give a specific date and time) ____ with a concrete offer?

Set a time to call them back and confirm that that time works for them. Nothing is worse than knowing the seller is motivated but being unable to get a hold of them again.

Like homeowners going through foreclosure, people with tax liens on their property may have some financial burdens and be unable to afford paying their property taxes.

Such homeowners may be very motivated sellers. Learn how to find tax delinquent properties in your area if this isn’t included in your strategy yet.

You want to approach this seller with empathy and explain that in this situation, it is important to move quickly to avoid going through the tax foreclosure process.

Below is a script to call motivated sellers who own properties with tax liens.

Script

You: Hi, my name is ___ from ____, and I’m calling about a property I believe you own at ___. Can you confirm you are the owner?

If the homeowner confirms they are the owner, continue (and if they don’t, ask how to connect with the owner).

You: Great! I’m a local real estate investor who specializes in tax delinquencies.

I was looking at the county’s public records, and noticed you had some unpaid taxes on your property. I’d like to buy the house from you so that you avoid the tax foreclosure process.

With delinquent property taxes, the homeowner has a limited time before the house goes to the county auction with further eviction process.

At the same time, a normal real estate sale, with a realtor, can take a few months or up to a year, especially looking for a buyer who’d be willing to buy a house with tax problems.

I can buy your home quicker than that, before the foreclosure happens. Additionally, you do not have to:

1. spend any cash upfront for repairs, or anything else, before getting cash for your home at closing
2. you won’t have to share the profit with a realtor
3. you won’t need to prepare the house for pictures and showings
4. and you won’t have to advertise the property looking for a buyer.

Is this something you would be interested in?

If the homeowner says yes, continue.

You want the seller to speak about the property as much as possible. Take notes even if you already have the information. This will help you assess the property’s value more accurately.

Ask the following questions one by one.

You:

1. Can you tell me a little more about the property, such as the number of bedrooms, bathrooms, and square footage?
2. Can you give me an idea of the work that you’ve done to the house and the most pressing issues that need to be addressed?

You: Thank you for that information. That is very helpful. Is there currently a mortgage on the property?

If the homeowner says yes, ask if they can tell you the amount of money remaining on the mortgage and explain that this information is necessary for you to get them your best offer.

If the homeowner gives you a reasonable number, continue the conversation.

If they say a number that doesn’t leave enough equity for you to wholesale the property, thank them for their time and end the conversation.

If the homeowner says no mortgage, they own the property free and clear, which is ideal for a real estate wholesaler.

You: Thank you so much for the information. Do you know how much you currently owe in back taxes?

If the homeowner says yes, ask if they can tell you the amount of money they owe and explain that this information is necessary.

Explain that your end goal is for the homeowner to be able to pay off their back taxes and make some money.

If the homeowner gives you a reasonable number, continue the conversation.

If they say a number that doesn’t leave enough equity for you to wholesale the property, thank them for their time and end the conversation.

If you can get an idea of the property’s market value on the spot, you can make a verbal offer over the phone.

However, you will most likely need to pull comps and do more research to come up with your offer.

You: Got it. I am going to do some more research so I can get you our highest and best offer.

Once we agree on a number, I will send over a contract for you to sign.

I ask for a 24-hour inspection period so I can walk the property and get an idea of the rehab costs to fix it up and ensure it’s in line with my original budget.

When we close on the property, we will pay off the back taxes, and the remainder will go to you.

May I call you at (give a specific date and time) ____ with a concrete offer?

Set a time to call them back and confirm that that time works for them. Nothing is worse than knowing the seller is motivated but being unable to get a hold of them again.

You can utilize these scripts as they are or come up with your own script based on them.

You also have an option to outsource cold calling to one of the best cold call centers for real estate investors to save you time on more important tasks requiring your personal involvement.

Additionally, look into using one of the best dialing systems for real estate investors to automate your process.

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About the Author

Kristina Morales is a REALTOR® with over 20 years of professional experience. She actively practices real estate in Ohio but also has practiced real estate in California and Texas. Conducting her real estate business in three states has allowed her to gain unique experiences that make her a well-rounded realtor. She obtained her Bachelor of Arts in Business Management and her MBA with a concentration in Banking and Finance. Prior to real estate, Kristina had an extensive corporate career in banking and treasury. She ended her finance career as an Assistant Treasurer at a publicly traded oil & gas company in Houston, TX.