Marketing to Senior HomeownersPosted on January 24, 2014 by
One of my favorite techniques for locating motivated sellers in my real estate investing business is to create direct mail campaigns targeting Senior Home Owners in my area. These homeowners are a good source of leads for my business for a variety of reasons.
After having bought and sold hundreds of properties throughout my real estate investing career, I have discovered that senior home owners may be interested in selling a property for many reasons. Most of the time these homes are in nice neighborhoods where people want to live.
One reason a senior home owner might want to sell would be that a spouse has passed away and the remaining home owner doesn’t want to continue living in the property alone. Or perhaps the senior home owner wants to move in with a relative or relocate to another state and sell their home. The homeowner may want to move into a smaller home or an assisted living facility. The home they have for sale may also have been a vacation property they owned or perhaps a retirement home they purchased and now they either don’t want to or are unable to live in it any longer. We have purchased homes that have been inherited by a senior home owner that they simply don’t want or need.
There are many reasons a senior home owner may want to work with a real estate investor to get their property sold as opposed to listing it with a Real Estate Agent. Maybe they need to have the property sold quickly because they need the funds to relocate to another state or perhaps move into an assisted living facility or a nursing home. Or the home owner may not want people walking through their property during showings until it is sold. It may be that they are looking for an easier solution to their problem.
Because these are senior home owners, the home may need repairs that the owner is no longer able to do or able to afford to have done in order to get the home sold. Many end users are unwilling to purchase a home that needs a lot of repairs and these are ideal properties for the real estate investor to purchase for their real estate investing business.
I believe that many times, the homeowner may be willing to work with a real estate investor in order to get a home sold quickly and for a fair price. If you as a real estate investor are a person of integrity, then you will want to create a win-win solution for all parties involved in the sale of the property. It’s a great feeling to be able to create a winning solution for your seller.
I also know that this list is very easy for the real estate investor to get their hands on. I use a couple of different resources to provide me and my students with these lists of senior home owners.
The list broker will provide a list split by zip code ranges so you can market to the exact areas you are looking to buy in. There is usually no competition for these properties since most of the time they are not actively being marketed. This gives you, the real estate investor the opportunity to create a win-win solution for you and the seller. In addition, these are usually sellers who are interested in selling “right now” which makes them a very good lead source for you. These properties may not always be in the best of condition which makes it difficult to sell them to an end user, so selling to a real estate investor just makes a lot more sense.
All in all, senior home owners make some of the best lead sources for the real estate investor. These are folks who have a problem they need to solve, but don’t know how to do that until they are contacted by you, the real estate investor.
For more information on lead sources for creating senior home owner mailings and marketing materials for locating all the qualified motivated sellers you need for your real estate investing business, visit Kathy Kennebrook’s website at www.marketingmagiclady.com.