Finding Motivated Sellers
One quick way to success in real estate investing is getting yourself a system that will enable you to find motivated sellers for your investments. Motivated sellers have become vital in today’s real estate niches. They are easy to deal with, and they’re also not that difficult to find once you’ve got a marketing strategy ready.
Why start with a marketing strategy in finding motivated sellers?
One reason is that you need to get yourself an endless supply of motivated sellers. A system would help accomplish this task, and within this system it is your marketing strategy that will be driving them in. With a marketing strategy, you’ll also help the sellers to find you instead of you finding them!
A marketing strategy will also give you an unfair advantage over your competition. When your strategy has made its appeal to the seller, he or she will want to make a deal with you and not another real estate investor. There will be no one else involved in the deal except for you and the seller.
Having a marketing strategy will also enable you to explore new ideas and tactics, and eventually you’ll be able to buy properties that no one knows are for sale, including the seller! There are times when the seller have lots of problems and have no idea how to process the deal by themselves.
5 Steps to Finding Motivated Sellers
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Pick your target prospects.
In picking your target prospects, you can go through two approaches:
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Shotgun Approach: flyers, newspaper ads, business cards, etc.
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Targeted Approach: going after specific targeted people
The shotgun approach appeals to the general public. Most likely, you’ll just be sitting and waiting for someone to read your ads and contact you. The targeted approach, however, will be directed to a specific group of people whom you most likely think will respond to your advertisement or marketing strategy.
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Mail a proven letter.
A proven letter is a letter that you know will work, a letter that your prospect will really open and read. It also contains facts and contact details for you and your prospect to communicate with and work on if he or she accepts your offer or service.
You have to be clear with your contact details in a proven letter. Give the seller multiple ways to contact you — phone numbers, fax, email address, the mail, etc. Giving them these different ways of reaching out to you will give them the ease and comfort of contacting you, and that is a great way of communicating out to your prospects.
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Answer the responses of the sellers.
When the sellers give you a response, it is an obvious task for you to answer them as soon as possible. Don’t ignore them, and don’t think that they can wait. There are deals wherein sellers are in a hurry to sell their property.
In reading their responses and answering them, you should also go through the list and figure out which sellers should you give priority to and go with.
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Buy houses.
When you’ve got your seller, and got a great negotiation going, then you got yourself a great deal!
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Create a system that is going to get you deal after deal.
After your first target prospect hunt, it’s time for you to take action in making a system wherein you do the same strategy over and over and works every time! In employing this system, you’ll be able to get deal after deal with efficient means and no waste of time, money, and effort.
Building contacts in the real estate business may dwell on establishing a stand point wherein sellers will be glad to sell their property to you and you only. Your marketing strategy will be vital at this point. Always remember that reaching real estate success means finding motivated sellers.
