Wholesalers, if you're looking to close more deals faster, it's time to ditch ineffective CRMs. Learn how to build a powerful sales process using Close.com CRM with our step-by-step guide

How to Close More Wholesale/Real Estate Deals with Close.com CRM: A Comprehensive Guide

Wholesalers looking to close more deals faster, you need to stop falling for the crappy information on the internet. Too many recommendations about which CRM to use are misleading, and this affects your ability to close deals efficiently. Let’s clear the air and dive into why Close.com CRM is the tool you need and how to set it up for success.

Why Real Estate CRMs Are Falling Short

Using real estate-based CRMs like Podio or MailChimp isn’t doing your wholesaling business any favors. You need a CRM that can handle your specific needs, such as tracking numerous leads, maintaining constant communication with buyers, JV partners, and agents, and optimizing your sales process. Close.com is trusted by top wholesalers and can be tailored to create an eight-figure wholesaling account.

Setting Up Close.com CRM for Wholesaling

Step 1: Start Fresh

Begin with a clean slate. Delete any existing leads and smart views in your Close.com account to avoid clutter.

Step 2: Build Your Opportunity Stage

Create stages that reflect your sales process. Here’s a typical pipeline for a wholesaling business:

• Potential: Initial contact with a new lead.
• Needs Additional Info: Gathering necessary information to proceed.
• Underwriting: Analyzing the lead and preparing an offer.
• Sent Offer: Sending the offer to the seller.
• Marketing: Preparing marketing materials for buyers.
• Walkthrough Scheduled: Organizing property walkthroughs with potential buyers.
• Escrow: Buyer deposits escrow funds.
• Won: Final deal status.
• Lost: Final deal status.

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Step 3: Customize Lead Statuses

Adjust lead statuses to suit your process:

• Potential
• Qualified
• Not Qualified
• Active
• Not Active
• DNC (Do Not Call)
• Bad Data

Step 4: Add Custom Fields

Enhance your lead and opportunity profiles with custom fields. For example:

• Avatar: Classify contacts as Buyer, VIP Buyer, JV Partner, VIP JV Partner, Seller, or Agent.
• Square Footage: Numeric field for property size.
• Beds and Baths: Numeric fields for property details.
• Deal Type: Dropdown for types of deals like Creative Finance, Conventional, and Wholesale.

Example: Setting Up a Lead Profile

1. Create a Lead: Add a new contact, e.g., John Smith, and input the initial details.
2. Add Opportunity Details: Include property information such as address, beds, baths, and deal type.
3. Assign Custom Fields: Define the lead owner and contact type using the Avatar field.

Automating and Streamlining Your Sales Process

Smart Views

Use smart views to organize and manage leads efficiently:

• Needs Avatar: Identify leads without assigned avatars.
• Potential Deal Outreach: Track leads in the potential stage needing follow-up.
• Buyer Relationships: Maintain regular contact with buyers by setting reminders for communication.

Need More Help With Smart views, watch this:

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Workflow Automation

Automate repetitive tasks to save time and maintain consistency:

• Seller Outreach Workflow: Schedule calls, texts, and emails to engage with potential sellers. Ensure follow-ups are timely and personalized to increase engagement..

Top 5 Workflows You Can Copy:

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Conclusion: Optimize and Thrive

By setting up Close.com CRM tailored to your wholesaling needs, you'll improve efficiency, maintain better relationships, and close more deals faster. Ensure your CRM reflects your unique process, automate where possible, and keep your data organized and actionable.

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FAQs

Q1: Why shouldn't I use generic real estate CRMs for wholesaling?

Generic real estate CRMs often lack the specific functionalities needed to handle the fast-paced and detailed processes of wholesaling.

Q2: How does Close.com CRM benefit wholesalers?

Close.com CRM offers customizable features that allow wholesalers to track leads, automate communication, and manage deals effectively, resulting in more closed deals.

Q3: What is an example of a custom field I should add to Close.com?

Adding fields like Avatar to classify contacts (e.g., Buyer, Seller, JV Partner) and numeric fields for property details (e.g., Square Footage, Beds, Baths) can greatly enhance your lead management.

Q4: How often should I follow up with potential buyers in my CRM?

Set up workflows to follow up with potential buyers at least every 14 days to maintain relationships and ensure they stay engaged.

Q5: Can I automate my lead follow-up process in Close.com?

Yes, Close.com allows you to create workflows that automate calls, texts, and emails, ensuring consistent and timely follow-ups with leads.

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