Author Archive
How to Find Motivated Sellers with Almost No Money
Posted on September 2, 2013 byYou can locate motivated sellers even if you have little or no money to work with. Way back in the early days of my business I used some very inexpensive techniques to locate very motivated sellers, since we only had a limited budget to work with like many people who are just starting out in the real estate business.
One technique we used was to develop a special flyer for ourselves. We then had it printed on legal paper in a bright color. Fluorescent paper works really well for this technique. The reason I used legal paper was because I could print two flyers to a page. That way I could get twice as many flyers for half the money. On a weekend, my husband and I would stick these flyers everywhere we could think of, in gas stations, phone booths, Laundromats, on public boards in grocery stores, home improvement stores, delis, bars, etc.
We would also take these flyers and lay them door to door during the weekend days at least twice a month. Each time we would lay the flyers door to door, we would pick a neighborhood we wanted to buy houses in. We kept a chart on the wall to show us which neighborhoods we had done and when. This was one way we could use to track the leads that began coming in. We ended up getting our exercise and doing something for our business at the same time, which was creating leads that turned into deals. Read More→
The Art Of The Conversation With Motivated Sellers – Part 2
Posted on July 31, 2013 bySo how are we going to get ready to have a conversation with our motivated sellers? I believe that readiness is a state of mind, and I have put together some ideas for you designed to help you have meaningful and successful conversations with motivated sellers resulting in profitable deals.
First of all, expect to be anxious and know that it’s okay to be anxious. You probably wouldn’t be very good at what you do if you didn’t care about the outcome.
Next, while you are feeling anxious, get in front of a mirror and practice what you are going to say to the seller. Do this more than once. The more you practice what you are going to say, the more comfortable you will be and therefore less likely to forget what you were going to say. Practice controlling your voice and be mindful of how fast you are talking. Your speech should be at a moderate volume and speed when speaking to a seller.
Remember to breathe! Practice what you are going to say all the way through without making faces, gasping or throwing out any expletives. Your seller doesn’t care if you’re speech is perfect, they just want to know what you can do for them to help them solve their problem. You might even want to practice what you are going to say in front of a spouse or close friend. Read More→
The Art Of The Conversation With Motivated Sellers – Part 1
Posted on June 27, 2013 byOne of the concerns many of my students seem to run into is; once they find the deal, what do they say to the motivated sellers? How should that conversation go? On top of these concerns, many of my students say they are not really comfortable with having a conversation with a stranger, so how do they handle that conversation? How do you get over the “jitters”?
Okay, so you’ve practiced what you are going to say, you have a plan, you have your paperwork, you’ve probably procrastinated a little, then scheduled your appointment with the seller, so now what? You still feel those butterflies in your stomach and you’re still not comfortable with how the conversation with the seller is going to go. What should you say first? How should you make the offer? What if they ask you something you don’t know? What if they accept your offer? What if they don’t? Read More→
Write Killer Ads to Attract Motivated Sellers in Droves
Posted on May 31, 2013 byWhen writing killer copy for an ad, there are several components that need to be addressed. The first of these is to grab the reader’s attention. If you don’t get the reader’s attention immediately, you will lose them. You need to remember that the average person is bombarded with hundreds of advertising pieces per day and yours needs to stand out. The second component is you have to raise their interest. Is the ad going to be something of interest to them? Does it spell out what you can do for them? The third component to a killer ad is desire. This is where you list proven benefits to your seller. And the fourth component to a killer ad is a call to action. You have to tell your seller what you want them to do or they won’t do anything. So let’s address these components one at a time.
The key component for writing any ad to attract motivated sellers is to begin with a killer headline. This headline has to answer the big question “what’s in it for me”? Using a really great headline can mean the difference between your success or failure at attracting motivated sellers using ads. Your headline is the very first thing a prospect sees when looking at your ad, or while scanning a page of ads, so it must deliver a clear and understandable message that makes your seller want to know more. You only have a fraction of a second to grab their attention so your headline needs to be strong and benefit driven or you’ve lost this prospect forever. Read More→
Increasing Response Rates From Direct Mail Campaigns
Posted on May 1, 2013 byThere are several great and easy way to increase the response rates you are getting from your direct mail campaigns. The higher response rate you get from your mailings the more deals you are likely to create.
One way to increase the number of responses you get from your mailings is to use lumpy mail pieces in your envelopes to entice your reader to open the envelope and read your message. This could be a penny which makes noise or it could be a magnetic business card which would add dimension. Lumpy mail is actually defined as “anything that adds dimension to an envelope.”
It can be in the form of any type of enclosure such as a flat pen, or even a piece of candy or it can be the actual container in which the mail is delivered. “Statistics show that dimensional mailings can increase response rate by as much as 80%. There are many items that are lightweight and small that can be added to your mailings to increase response with very minimal expense. Design your direct mail piece so different that it demands people’s attention, and gets opened and read.
Because I use a response mechanism within the body of my letters (a section within the body of the letter that allows the seller to fill out all the information I need) when I send them out, I will sometimes use flat pens in my mailings so that the seller has the tool they need to fill out the response mechanism right in their hand. This just removes another step or another obstacle for the sellers and they will contact me even sooner. Read More→
Following Up with Motivated Sellers Can Make You Millions
Posted on March 26, 2013 byLet me ask you a question; are you properly managing your prospects? Are you taking the time to follow up with the sellers who didn’t initially accept your offers, or the sellers you still need to make offers to? Did you know that you are leaving thousands of dollars in potential income behind if you aren’t following up with sellers? One of the easiest ways to make a fortune in the real estate business and gain the advantage over your competition is to take the time to follow up with motivated and semi-motivated sellers. You’ve already got the seller in your pipeline, you’ve already done the marketing and spent the money to find this person, now all you need to do is to follow up with them until they either sell you their property or tell you to go away. How much simpler could it be?
There are two types of sellers we are going to follow up with, those we’ve already made offers to who haven’t accepted our offer and those who have not made any decision after our initial contact with them. Quite often, you will need to make multiple contacts with sellers before their situation changes and dictates that they sell their property to you. If you stay in touch with these sellers, you build credibility with them and when it comes time to sell they will contact you first, even if they have been contacted by someone else in the meantime. Read More→
Where Do I Find the Best Direct Mail Lists?
Posted on February 28, 2013 byThis is the big question that I get a lot! The true secret to success for a Real Estate Investor is finding sellers who really need to sell. I use several different targeted direct mail campaigns to locate different types of highly motivated sellers. Some examples of these types of mailings are out of state owners, estate and probate properties quit-claim deeds, expired listings, burned out landlords, vacant properties and pre-foreclosures, just to name a few.
The key to success using direct mail is customizing your direct mail piece and your list to reach exactly the kinds of motivated sellers you want to deal with in order to create the kinds of deals you want for your Real Estate Investing business. The very best way to do this is to locate mailing lists from reputable companies, refining them to meet your individual criteria, then mailing to these potential sellers again and again.
Investors often neglect to market to sellers in this way because they think the list is too difficult to get, or they only send the mailings once and quit. These are some of the easiest lists for you to obtain and it will be very profitable for you to do so. After having mailed thousands of letters and done hundreds of deals I can personally attest to the power of direct mail for finding all the motivated sellers you could want. Read More→
Pre-Screening Sellers For Your Real Estate Investing Business – Part 2
Posted on January 30, 2013 byBy remembering just a few basics, you, as a Real Estate Investor, can quickly determine whether or not a seller is motivated to sell their property. First of all, a motivated seller will ask questions like “how soon can you buy my house?” or “How can you help me get out of this situation?” or “How soon can you get here?” An experienced Real Estate Investor knows these are really good questions for a seller to ask.
There are two types of houses we are going to buy, either pretty houses or ugly houses and there are motivated sellers in both of these categories. When you are marketing to sellers, there are certain types of sellers who are much more likely to have a house they need to sell.
For example, I personally like working with out of state owners (folks who own a property where you live but don’t live there full time), heirs, divorces, vacant houses, estate and probate properties, military transfers and pre-foreclosures. These sellers are much more likely to have a house they need to sell “right now” and that’s the kind of seller you want to work with. As a Real Estate Investor, you may also run into landlords who are fed up with tenants ruining their properties over and over. These are all good sources of motivated sellers. Most of these sellers are folks who don’t live in these properties. Read More→
Pre-Screening Sellers For Your Real Estate Investing Business – Part 1
Posted on January 1, 2013 byI strongly believe that pre-screening sellers is one of the most important tasks you will undertake in your real estate investing business. The more quickly you learn to pre-screen prospects, the more money you will make in your Real Estate Investing business. This article is focused on teaching you how to tell a good deal from a time waster in 30 seconds or less.
If you don’t learn to pre-screen prospects quickly and efficiently, you will get burned out of the real estate investing business by working with sellers who won’t sell you their house, no matter what you say. Your job as a real estate investor is to very quickly determine the difference between a prospect and a “suspect”, meaning someone who needs to sell versus someone who just wants to sell their property.
People who just want to sell will either reject you immediately (don’t take this to heart, it just helps you move on quicker) or they will jerk your chain with a bunch of excuses as to why they won’t sell to you. Don’t waste your time with these folks!!
I know from first hand experience that motivated sellers will make themselves known to you quickly and they are a whole lot more fun to work with. Their attitude is more like “Please take my house off my hands…..now!” They are usually pretty easy to identify once you ask the right questions. Read More→
How To Create A Solid Direct Mail Piece
Posted on November 28, 2012 byOne of the most important aspects to a marketing campaign to find highly qualified sellers and buyers that is going to work is to create a solid mail piece for your business. These are key points for creating a solid direct mail piece that folks will respond to no matter what business you are in.
- The first thing you’ll want to do is to “touch” your prospective customer or seller with “the dream”, or “the solution” to their problem. You’ll want to touch the basic emotions and the needs of your client or seller within the body of your letter, whether that is fear, relief, greed, pride or vanity.
- Keep it simple. The grammar doesn’t necessarily have to be perfect. You want to reach this person at their comfort level. Keep your letter relaxed, personal and conversational. Read More→
How To Locate or Create Effective Mailing Lists
Posted on November 1, 2012 byWhere can I find a good mailing list to find motivated sellers? How can I create my own list to find highly motivated sellers? These are the big questions that I get a lot from Real Estate Investors! The true secret to success for a Real Estate Investor is finding sellers who really need to sell. I use different direct mail campaigns to locate different types of motivated sellers: out of state owners, properties quit-claimed from one person to another, expired listings, burned out landlords, vacant properties, military transfers, and pre-foreclosures, just to name a few.
The best part is that you can customize your direct mail piece and your list to reach exactly the kinds of motivated sellers you want to deal with in order to create the kinds of deals you want for your real estate investing business. This is best done by locating mailing lists and refining them to meet your individual criteria, then mailing to these potential sellers again and again, thus creating a multitude of profitable deals.
Investors often neglect to market to sellers using direct mail because they think the list is too difficult to get, or they only send the mailings once and quit. They don’t take the time to create the machine that will bring them deal after deal. Read More→
Uncovering the Secrets of Marketing To Motivated Sellers
Posted on September 25, 2012 bySeveral years ago, I attended my first real estate seminar and decided this was the business for me. I could do it in my own time and at my own pace and still make money. Considering I was still working a full time job at the time, this seemed to be just the scenario I was looking for. One of the things they taught us in those seminars was that finding truly motivated sellers was going to be the cornerstone to this business because without motivated sellers there simply are no deals to be made.
After spending a number of years in sales prior to becoming a real estate entrepreneur, I knew that when the prospect contacts you first, you have a much better chance of making a good deal. At the time I didn’t have a lot of money to work with and needed to make every marketing dollar count.
I discovered the same theory applied to working with motivated sellers. A motivated seller is the key to all good deals, and if they contact you first, this significantly increases your opportunity to make a profitable deal. There are lots of opportunities for those who want to find sellers, and some are more labor intensive and time consuming than others. Learning to influence motivated sellers to contact you first will increase your profits immensely, help you make better deals and most importantly save you valuable time. Read More→
