Marketing For A Consistent Flow of Motivated Sellers

When you are running a real estate wholesaling business you will need to be marketing for a consistent flow of motivated sellers. As we all know, wholesaling is a numbers game. It takes a large volume of sellers to find the motivated ones. An average ratio is 25:1, which means, you will find one good deal out of about every 25 leads that come into your business. Sometime it’s not even that good and sometimes its better. It really depends on the market you are in and the time of year. I have had better ratios and worse.

In my market during from April to October, I know that if I want to wholesale at least two deals a month I would need a minimum of 50 leads a month or 12.5 per week coming into my business. Usually I like to have more than that, so I have choices and don’t try to fight the numbers for a deal. You must have a nice flow of leads each and every week. It’s better to have more than enough, because you can always send the extras to agents, or other buyers.

In order to get this nice flow of leads each week, that means you must be doing some kind of marketing each week. First, you should create a weekly budget, and marketing day. I have been trying to focus on Mondays, for my marketing. Using the tagline “Marketing Mondays” seems to stick in my head and remind me that I need a type of marketing campaign to go out on Monday.  You could easily just mail a list of ugly and vacant looking houses that you found from driving for dollars over the weekend. If you didn’t get out and drive for dollars, then you could build a small list to mail yellow letters too. Whatever you decide to do, you need to get some kind of marketing campaign completed so you can expect to get some leads in the near future.

If you were going to go the list-building route, then I would focus on a list of absentee owners. You can use www.listsource.com to build your list, then download it in excel format. Then, you send you list to www.yellowletters.com so you can have them do the mailing for you. This can all be done in 1-2 hours of your time on marketing day. You should also be posting your craigslist posts “WE BUY HOUSES” or other ads as much as possible. Usually you can repost every three days on craigslist. I know it’s very repetitive and it seems like everyone is doing it, but it works and it’s free!

I would immediately create some business cards for your company and for marketing. I use two different types. You want some business cards with your company info to give to attorneys, agents, contractors, property owners that you meet, or people who may have a house for sale, and then you need some “WE BUY HOUSES – Any Condition – CASH OFFERS” business cards, with contact info, website, phone, email, etc.… These are the ones that you can leave in small stacks at certain gas stations, bulletin boards, every place you eat, and more. I buy them by the thousands and try to leave them everywhere I go. Just remember, these cards have a phone number that is on your marketing pieces, not the one that forwards to your cell phone.

Another great way to get leads is to contact attorneys in your area who specialize in real estate, estate, probate or bankruptcy. You can give them your company info and see if they have any clients who might need to get rid of a property. If not, maybe they can call you when they do. This goes the same for any other person or company that might have a chance at finding you a deal before all your competition finds out about it.

Recently, I started advertising on Facebook. This costs some money, but it has kept the phone ringing. If you can afford an extra $250-$500 a month, I would highly recommend trying Facebook. This will get you leads, but it might take a little time to get the right motivated sellers. Either way, you can test it for a couple months at a low cost. It’s also a way that you can see a response very quickly.

All market areas are different. You should really start testing different strategies and see what works for you. You might just find that one is way better than the other and more affordable. Just get started and be consistent, that’s what it takes when marketing for a consistent flow of motivated sellers. Now get out there and find those deals.

 

God Bless,

Country

 

 

 

 

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