BUSINESS FUNDAMENTALS
PROSPECTING LEADS
Listing Service (MLS). Have them search for “closed sales” in areas of your choice, where the purchase was all cash. To find other inves- tors/buyers, have them search us- ing certain keywords such as “fore- closure” or “handyman special.” A seasoned agent can come up with a list of keywords, if they don’t already have one. Then send your letter as described above. CRAIGSLIST ® A two-pronged approach can be used with Craigslist ® . The first is to selectively call on ads where the advertiser appears to be a repeat buyer or seller, such as a wholesal- NO. 4
highly productive source of free buyer leads. Simply develop a list of keywords such as “We Buy Houses” and “Cash for Houses,” and search away! Then call on the ads. Developing a buyers list takes time, but it can be done inexpen- sively. The list also needs to be maintained. As your list grows, and your transaction volume increases, the effort will be well worth it. •
er. If you are not sure, call anyway. The second approach is to place your own ad with a message of “Buyers Wanted.” For good expo- sure, place the ad before lunch or before dinner because people log on during lunch or after dinner. During the weekend, noon is a good time. Replace your ad every three days since you aren’t allowed to do it before then. Consider each ad you prepare as a marketing campaign. Track the results, and vary the ad design to achieve a high response rate.
Bruce Kellogg has been a Realtor® and investor for 38 years. He has transacted about 800 properties in 12 California counties. These include 1-4 units, 5+
Lead Generation for Buyers
apartments, offices, mixed-use buildings, land, lots, mobile homes, cabins, and churches. Reach him at brucekellogg10@gmail.com or (408) 489-0131.
NO. 5 GOOGLE ® ADS Google ® searching is another
FIVE INEXPENSIVE SOURCES TO FIND YOUR NEXT PURCHASE.
by Bruce Kellogg
R
yet they can be memorable. Consid- er having a logo created if you plan to carry it through your brand. After you have your flyers and business cards, it’s time to network and search other sources for leads. Creating a buyers list does not need to be expensive. Here are five buyer lead sources for those starting out on a budget. NETWORKING EVENTS Local meetups are usually free or cost very little. Real Estate Investor Associations (REIAs) have differing costs, as do expos and real estate courses/workshops. In each case, bring plenty of flyers to put on ta- bles and business cards to hand out. At meetups there is usually a “Haves and Wants” session before the speaker begins. When your turn comes, stand up, state your need for buyers, then urge everyone to pick up your flyer. Most attendees who stand up do not do this, but they should. NO. 1
eal estate investors aspiring to build a volume transact-
NO. 2 LIST OF CASH SALES In some places around the coun- try, title companies, as a customer service, will provide a list of cash sales in the past 12 months with the property address and where the tax bill goes. This is usually the new owner who was a cash buyer. Send them a friendly form letter asking if they would like to be on your buyer’s list. If they are active investors, they will likely respond. If this approach does not work in your area, you can go to www. listsource.com and purchase a cus- tomized list of cash buyers to your specifications. (MLS) BUYERS You’ll find an abundance of real estate licensees in most areas of the country. The idea here is to cultivate a relationship with one or more real estate agents or bro- kers who are active on the Multiple NO. 3 MULTIPLE LISTING SERVICE
ing business include wholesalers, co-wholesalers, fix and flip opera- tors, and turnkey vendors. The key to getting started is to accumulate a substantial buyers list, preferably of repeat buyers, so that available properties can be marketed quickly and efficiently. Before your buyers list, though, comes the essentials: flyers and business cards. Flyers should be of original design, 8 ½” X 11”, and in color. Black-and-white copies will not attract attention. Business cards need to be double-sided, with your contact information on one side, and your business message on the other side. Your picture will help people remember you from networking events. Use contrasting colors for enhanced readability, and ample fonts. Logos and crafty designs cost more and don’t add much to the communication of your message,
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32 | think realty magazine :: november / december 2019
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