Finding Real Estate Buyers and Sellers: Part II
By [http://ezinearticles.com/?expert=Conrad_Miller]Conrad Miller
Part 2 of 2:
So far we have only scratched the surface of how to find buyers and sellers in the world of real estate. Another crucial way for real estate investors to advertise in today's electronic world is by having at least one website (Facebook is a good idea, too, but does not count as your website). I recommend having a minimum of three websites: a general site about you and what you do, a site for people looking to purchase properties, and one for those who want to sell a property. This way, no matter who you are marketing to for what strategy, you can direct them to a website that not only explains what you do, but also how they can contact you for more information. It is a good idea to have a squeeze page on each your sites, too. Squeeze pages are web pages which promise information to the visitor if they just enter their information in the fields (usually name and e-mails address). They click "Submit" and get the information they wanted, while you get the name of another seller or buyer that you can add to your list of prospective clients.
Mailings are an amazing way to find buyers and sellers in today's climate. Once you have bought or compiled a sizable list of people to whom you would like to directly market, all you need to do is buy a bunch of window envelopes and stamps and a few reams of copy paper. Print out your form letters with the recipient's name and address in the header, sign them, and place them in the envelopes. (A great tip I learned is that window envelopes mean that you do not have to address the outside, saving you more time and money than you realize!) Stamp them and send them! Most real estate investors send out batches of mailings every 45-90 days. This way they are in the front of the mind of the recipient. Also, a lot can happen in a few months, so the 4-plex owner who threw away your first three mailings may contact you after receiving the fourth because their circumstances have changed.
The term bird dog is a common one in the real estate investment industry. Bird dogs are people who make the rounds of your target area as a routine, whom you can recruit to keep an eye out for homes for sale. Mail carriers, pizza/deli delivery people, cable men/women, trash men/women, and meter readers are just a few of the types of people who make great bird dogs. Make a deal with these people that if they bring you the address of a property in the area which they think or know might be for sale, and you close on the deal, they will get a cut out of your profit check at closing. Offering $300 or $500 per property that you buy - based on their tip - is a huge incentive for people who are already patrolling the area all day. Additionally, they are working for you for a much cheaper rate than if you had employees!
Bandit signs are yet another way to advertise. These are the signs that you see at intersections: posted at stop signs, lights, attached to telephone poles, et cetera. Some people have great success with bandit signs. If you want to market to sellers or rehabbers, placing signs at intersections near Home Depot or Lowe's stores could be a profitable way to garner interest. Some people do not advocate using these signs because they get stolen a lot (hence the name), they are unattractive, or simply do not work for those investors. It is up to you to decide if you want to try them out, but never discount a method just because you do not think it will work for you. You might be surprised!
One other advertising technique is as simple as an e-mail signature. Everyone uses e-mail these days, from kiddies to grandparents. Placing a quick ad at the end of your personal and business e-mail messages is a great way to broadcast to millions of people across the country what you do, what you are looking for, and how you can be reached.
There are a few things to keep in mind once you have found a seller or buyer and have them on the phone or through e-mail. First, be polite, honest, and to-the-point. If you do not want people wasting your time, do not waste theirs. Ask them how motivated they are to sell their property and at what price, if they would negotiate, et cetera. Some people may be a bit hesitant at the beginning, so just be gentle and ask them to keep you in mind if they decide for sure that they are interested in your services. Also, do not forget to find out where people saw your name! It is an easy step to forget, but so crucial in your determining what marketing scheme is working and in what areas. I.e., bird dogs, Google search, through a friend who got an e-mail from you, bandit signs, mailings, the Classifieds, or whatever else you choose to employ.
Today, there are so many ways that a real estate investor can market themselves, and many of them are cost-effective! Be creative, open, honest, diligent, and consistent, and I guarantee that buyers and sellers will come to you.
My name is Conrad Miller; I am a real estate investor, entrepreneur and small business owner in southeastern PA. My company, Terra Proficio Inc., specializes in wholesaling both ugly and pretty homes as well as rent-to-own and lease/purchase options. Our webpage for those seeking to purchase a home is http://www.terraproficiowholesalers.com and for those who may have a home they need to sell fast is [http://www.letconradbuyit.com]http://www.letconradbuyit.com. We are often able to close in as little as 7 days, depending on the circumstances. We are willing to look at ALL situations; negative equity, pre-forclosure, and properties that require extensive renovation are all okay with us. Contact us via our webpages for more information.
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