Same exact thing in my area. What you will soon realize is those $160K homes are being sold by NON-MOTIVATED sellers. How far of an area are you covering with your ads? Mine has run for 2 months and I have only received 1 call for a house in my city. All the other calls were for towns within 10 to 30 minutes of me. Most calls come from areas I consider less desirable and thats fine with me.
What do you think the person that lost their job and cant pay the mortgage will do, or the newly divorced couple that just want to get rid of the new house they had built, that has little to no equity or the family that is relocating and they don?t have the time or the funds to list their house with an agent will do? You will be the Knight in shining Armour, only if they can find you.
They are out there, they just might not be looking in the newspaper for help. Try Bandit signs, flyers, post on all the bulletin boards at grocery stores, Laundromats etc. The rich, middle class and poor all have problems that require real estate be sold quickly, problems do not discriminate against one single class of people or geographical location.
places, where 160K houses sell within three days for or above asking price?
I am beginning to think this stuff does not work where I live. I am advertizing in newspaper as well as bandit signs, yet–no results. My advertising has been running for a month now.
Ron LeGrand says that if you aren’t using 5 methods of advertising on a regular basis that you aren’t advertising enough.
Bandit signs and newspaper ads are great, but you may want to use other ways.
In addition to doing things that attract motivated sellers to me, I use methods to find motivated sellers and get my info or my offer in front of them. One thing I specialize in are foreclosures. All the homeowners within 5 miles of my house that are in foreclosure and have some equity to work with know who I am. That’s because I’ve knocked on their door and gave them a flyer. Some are ready to deal some need a little more fire under their feet. That’s ok, I’ll visit them again next month. You need to find something that works for you.
I don’t know your market, but I do know that everyday in this country, circumstances occur that cause people to become motivated. Divorce, death, loss of jobs, financial difficulties, sudden change in health, job transfer, etc occur everday in every market in the country. Your job is to gear your marketing efforts to get these people to pick up the phone and call you. Try mailing postcards to these groups of people. It will work, but it does take time and effort. Yes, it may be more difficult to find sellers willing to sell at large discounts, but in a sellers market, it should make it easy to resell on the back end. Believe me, there are deals out there.