13 More Ways to Find Motivated Sellers
By Bill Guting
Ok, I got a lot of great feedback from my last article “31 Ways to Find Motivated Sellers”, so I thought I’d keep the momentum going this week and come up with 13 more ways, so here you go …
- Wear T-shirts that tell the world you’re a real estate investor. A lot of the guru’s recommend wearing something that says “I Buy Houses” or something similar, right?
That’s ok, and I guess it does work, but I actually don't like that headline all that much. That’s what everyone does. Plus, it’s not really a benefit for seller prospects, is it?
So here’s a creative twist: What if the headline on your t-shirt was something like “Money Manager”?
Hmmm … think that might spark some curiosity? And get more people asking what you do?
You can then explain that you buy properties with cash … and find great deals for your investor clients.
See how that simple phrase gets you fishing for both great deals … and private lenders as well??
- Pay someone a few bucks to put a “Sell Your House FAST” magnet on their vehicle.
- Co-op Billboard – I was driving around one day and ran across a billboard with like 5 or 6 different businesses advertised on the same billboard. That’s what I mean by a “co-op” billboard.
One of the ads was by a local realtor who dubbed herself the “shortsale queen” of the area. It turns out she was spending around $400/month, and this was her primary source of lead generation.
How effective was it for her? I checked her MLS stats and she was doing around 17 transactions a year. So it definitely looked like it was paying off for her.
Think you might be able to get some good results as well by posting your “Sell Your House FAST” ad?
- Send mailers to 30-60-90 day lates – These are mortgage holders who are 1-3 months late with their mortgage payment, but haven’t yet been hit with an NOD (Notice of Default). Any reputable mailing list broker can get you this list.
- Run 30-60 second TV & radio commercials.
- Build a Bird Dog Network. Pay them per lead + a lump sum for each closed deal.
- Call ‘For Rent’ ads – Just because someone is advertising their house for rent, doesn’t mean they’re necessarily happy about being a landlord.
Maybe they just couldn’t sell … and renting it out was their last option.
8. Call on Expired Listings from 6+ months ago.
9. Establish a referral relationship or joint venture with Payday Loan companies.
10. Send mailers or contact homeowners who are delinquent on their property taxes.
11. Network at your local Real Estate Investor Association (REIA)
12. Establish a referral relationship or joint venture with Credit Repair companies.
13. Have a Real Estate Investor Website
It doesn’t have to be anything fancy, but I think your website should at least have the basics like: a homepage spelling out what you can do for sellers and the benefits to them … testimonials or case studies (and if you don’t have any yet, consider teaming up with another investor or find a mentor with testimonials that you can piggyback on) … educational material geared towards sellers (audio’s, video’s, e-books, etc.) … and an online form they can conveniently fill out and submit.
How do you get one made? It’s pretty simple these days. Most of my websites have been designed by webpage developers I’ve hired right off elance or upwork (fmly: Odesk) for typically between $100-$500. And some of them have been pretty robust sites!
But you still need to provide the content and direct them with specifics, so if that sounds like more than you want to tackle, no worries … I’m test-driving a push-button solution that I may be able to recommend within a month or two. It’s looking really good so far!
So there’s your 13 more ways. That’s a total of 44 ways we’ve covered over the past couple of weeks now for finding motivated sellers.
Pick 3 or 4 that resonate with you … create a specific game plan … and just stay committed and consistent.
That’s how you build a growing and thriving real estate investing business in no time flat!
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