Successful real estate investing largely depends on selling the houses you acquire quickly. This is true whether you sell them at wholesale prices to other real estate investors or to retail buyers, or even selling on terms such as lease options.
The biggest asset in selling houses quickly is building relationships with people who need to buy the properties you are selling and who have the capability to do so.
Building and maintain a responsive list of potential buyers is the subject of this article.
Your buyers list is your most valuable asset and should be tended very gently. You will get more sales from more responsive lists.
There are two types of buyers lists:
1) Wholesale Buyers List
This is a list of real estate investors looking for investment properties at wholesale prices. You must build a wholesale buyers list if you flip houses at wholesale prices.
2) Home buyers list
These buyers are looking for homes to live in. In most cases they are not looking to buy investment properties.
The most common type of buyers list is the list of buyers looking for houses with creative financing such as lease options.
Obviously, a list of buyers in your local market is the most responsive. A list of nationwide buyers is less response.
This means that as long as you have a responsive buyers list, you may not need a big list to move your deals.
If someone last bought a property one or two years ago, they are of little to no value in your list.
How to build a responsive buyers list
In order to build a buyers list, you must have the following things in order:
1) Get a real estate investor website
Your buyers must have a place to sign up to your list. For this reason, a website is a must.
The website needs to have buyers lists integrated, or the ability to create lists freely as you need. They can then sign up to your list as necessary.
Ideally, the website should also allow you to create squeeze pages or landing pages that ask for their name and email (maybe also phone number) before they can access your properties.
Alternatively, it should allow asking for contact information before they can view full property details.
2) Advertise your properties
Your ads must prominently feature your website address no matter what type of advertising you run. A phone number is not enough; it will not collect a buyer list for you.
This is the work of a real estate investor website. Whether you advertise through bandit signs, radio, newspapers, Craigslist, etc, you must provide your website address.
I built my first buyers list by advertising my wholesale deals on our local newspaper, Dallas Morning News. Instead of a phone number, I gave them a web address with a list of houses for sale.
They had to provide their contact information before accessing full details. From this ad, I ended up building a list of about 200 buyers. From this small list, I sold every wholesale deal I found. In most cases, I would get a buyer the same day I sent out my wholesale deal.
Find out how you can run your business from an automated real estate investor website for both buying and selling houses increasing the efficiency with which you close deals. Specifically, find out how a website for selling houses can help you sell your houses fast by automatically building a buyers list for you as you sell, among other features.
Comments are closed.