Posted by Sean on February 23, 2005 at 13:16:43:
Amazing isn’t it?
Don’t chase sellers, let them find you.
Experts, how do you find motivated sellers? - Posted by Rob
Posted by Rob on February 21, 2005 at 09:53:39:
I invest in a small city in NY state. I have been rehabbing for a few yrs now. I have always found properties via the MLS. I recently ran a “we buy houses” ad. Got a few interesting calls. Mainly people who were considering selling, but weren’t really ready to list with a realtor and if I could give them a full retail price cash offer that was the only thing they were interested in. My question is how do post cards, we buy houses ads, and all other marketing to find motivated sellers really work. If they were really motivated they would list with a realtor. I am not interested in pre-foreclosures, or sandwhich lease optioning, just houses that may be a little neglected with owners who just want out. Is there a better way for me than just the MLS?
Re: Experts, how do you find motivated sellers? - Posted by DaveD (WI)
Posted by DaveD (WI) on February 21, 2005 at 13:10:00:
“If they were really motivated they would list with a realtor.”
Not true. If you are looking for neglected houses, they are often attached to folks in distressed family situations with no available cash to make the house marketable. Realtors like pretty boxes they can tie a bow around. They hate stinky messes in which the women half of their staff won’t even go inside of. Then there is the real problem of getting financing for a distressed property. The dynamics all run against a predictable clean sale which is how the realtor gets paid.
It’s all about finding a person with a big problem that includes real estate. It’s frustrating to get calls from unmotivated sellers, but you will quickly get over it. It’s a numbers game. Once you have a conversation with a truly motivated seller, you will never forget it. Night and day.
I don’t! - Posted by Jim FL
Posted by Jim FL on February 21, 2005 at 11:36:15:
Rob,
You asked how we find motivated sellers?
That’s simple, I don’t.
Instead, I beleive in marketing so the sellers can find me.
Yes, many calls come in from folks wanting to sell for full retail, all cash.
But, with every batch of marketing materials that go out, there do lurk some motivated sellers.
The object is to make yourself easy to find.
Sellers who need your service will want to see two things in your marketing materials:
- What you do? (you buy houses)
- How to get ahold of you? (your phone number).
Get that message out, in mutliple forms and sellers will call.
Ads in the paper, flyers, signs, vehicle signs, billboards, business cards, and post cards/letters.
I do these, and a few others, consistently, and my phone does ring often.
So, stop looking for houses and sellers, let them find you.
Much easier to cherry pick deals when they come to you.
Just my two cents,
Jim FL