| Original message
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Replies:
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| PatrickMD
  |  "Re(1):The Making Offers Issue"
, Mon 22 Jan 11:12 
JWL,
Part 2.
4. Multiple offers through real estate agents. We had some minor success last year with one realtor providing us with a list of slow-moving and expired listings from the MLS. After a falling-out with that person over that most common of problems - greed - we chalked it up to a lesson learned; then, went right out and found another real estate agent. She seems very interested in our plan to buy low-priced "affordable" houses for flipping from a list of slow-moving and expired listings from the MLS. All our offers through the agent will be modeled after the Sheets' three-pronged multiple offer. It's a short form letter we keep on a disk with a low-ball cash offer, a low-down-payment-and-the-balance-to-be-owner-financed offer, and a lease option offer. It provides the sellers with a choice. It's not a contract but, because it is written, the agent has to make the offer for us. It saves time, in addition to having someone else taking some of the pressure. We'll keep you posted.
5. My biggest anchor right now is time management. Because I've still got growing family responsibilities, a full time job, not much descretionary income, and a lot to learn as a newbie, I actually had to cut back my ads. I just couldn't respond to all the calls. The ratio was about 15 percent sellers/85 percent buyers. That told me a lot right there. I decided I had better learn more about the market areas where people wanted to buy and focus on attracting sellers in THOSE areas. Now, rather than trying to take on a demand from thirty or so buyers a month with no supply, I am doing a couple at a time. It's fun again, and, I feel a lot less stressed! As I learn how to be more efficient, I anticipate much more growth with less effort.
6. Work smarter, not harder. My second biggest anchor is convincing my spouse that we CAN afford to pull in our lifestyle belt and pay for the marketing to get our name out in front of people. Like the other contributors have said, you've got to do a lot of different things to learn how to get a few keepers. It's taken her awhile to be comfortable with that idea. She's very creative herself, though, and comes up with a lot of good ideas, such as; if we buy our own fluorescent paper for flyers at Staples, then turn right around and get them to print them (using the free original flyer proof that came with the purchase of the professionally-printed cards), they will print the flyers at a very low price. We save both time AND money.
7. Work closely with those close to you. Also attributable to my wife: When the printer couldn't make a good blown-up version of the course-provided contract the seller didn't like because the fine print was too fine (it really WAS!), my wife and our college-freshman son typed and edited a brand-new legible master version. Our 11-year-old son even helps by getting emails off the computer from the answering service for us. Delegate your tasks and multiply your efforts. And, be sure to reimburse them!
I hope some of this has been some help. Good luck.
Pat.
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| PatrickMD
| "Re(1):The Making Offers Issue" , Mon 22 Jan 09:50
Hi, JWL. I am guilty of not "hitting 'em hard" enough, and I can see a direct relationship between the amount of marketing vs. the amount of calls.
I have tried some of the tried & true techniques with some really good results. I've split them into two parts because I don't want to hog up the conversation.
Part I:
1. Tell EVERYONE what you're doing. If they aren't selling or buying, they may know someone who is. Even the printer of my business cards wife thought their daughter could use our services.
2. Which brings us to BUSINESS CARDS. My first deal came from my leaving cards at my crdit union ATM. That lit up a light bulb - why not place them where people are thinking about their money problems? My second deal came from a conversion with a new aquaintance at a good friend's New Years Eve party, then giving him my card so he might remember our conversation through the haze afterward.
I try to find restaurants where I can leave my card. I remember reading about a social economics study in Detroit during a major downturn in national car sales. There were sweeping factory layoffs. The researchers found that when times get tough, restaurant dinner sales skyrocket. People want to celebrate one last time! Remember, a distressed seller is a motivated seller.
3. There are lots of free internet ad websites. After nibbles but no keepers from newspaper ads, I placed an ad on a web site for a very common, basically equipped (albiet nice!) 22' sail boat. Within 2 weeks there is a very serious buyer driving at this very moment 1000 miles to Maryland (with our 8" of new snow!)from Florida with his hard earned cash to buy this thing he's never seen! We've also other things over the Internet. People are watching and wanting to buy just about ANYTHING on the web! Just be careful.(The truth: I haven't bought or sold a house over it, but it's just a matter of time.)
3. (See No. 2) I got my foot in both these doors by listening to the sellers' very different situations and concerns, then working out creative solutions to their problems. All of the excellent teachers of and/or investors in Creative RE; Carleton Sheets, Ron LeGrand, Jackie Lang, emphasize being a problem solver in their discussions. My ads, flyers, and business cards emphasize that focus. I believe the sellers dealt with me because THEY believed that I had their interests as my highest priority. They understood I was going to make a profit, but that was not the main issue. I was a trusted person helping THEM. I'm reading an excellent sales book right now that is a big proponent of the solution - provider approach, called "Selling From the Heart," by Steven Lloyd. You may find it very helpful.
Pat.
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| Dealmaker
Moderator
|  "Re(1):The Making Offers Issue"
, Mon 22 Jan 07:49
One problem I see is within a post of yours
http://www.dealmakerscafe.com/forums/Forum1/messages/10453.shtml/
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Your marketing efforts cannot be half-done. You must go all out and be consistent.
Below is a previous post.. I cut and pasted my response. Please read the entire post.
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http://dealmakerscafe.com/forums/Forum1/messages/10191.shtml
Your answers are below, however, I'm posting more information for others as well.
I answer ALL calls! I REALLY can't stress how important I think that is..
I have ONE number adverstised for buying and all calls are routed through that number. If I'm not in my office or the line is busy the calls are routed to my digital phone so I don't miss any calls. The calls find me somewhere.
I do generate a lot of calls from my signs. Again I want to emphasize the importance of using SEVERAL marketing methods! ONE method is NOT enough! I have the large sign like the one above and smaller signs. I have 6 classieds running and one display ad. The payoff is huge.
EVERYONE:
Ask yourself, "Will the seller behind in their payments and other bills subscribe to the daily paper?"
"How about the freebie papers?"
"Will the seller listen to this radio station?"
"If the sell rides by will they see this sign?"
You have to get your telephone number under their nose any way you can.
Ads, signs, postcards, letters, etc...
KEEP the ads running!!
I find most beginners get discouraged when they only run ads for a week then they discontinue the ads. BIG MISTAKE!!
TJack, you're an experienced investor and you understand it takes some consistency and repetition before some marketing efforts are rewarded. The rewards in our business is BIG!
end of previous post
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Jim, if you don't have sevral marketing efforts going at once and you're avoiding the main newspapers, you're not going to get the calls. You must go all out.
You CAN buy houses without this type of marketing through Realtors and using private money partners because you'll be paying cash.
Lynn and I are on agreement, do not make offers over the phone. Sure you'll buy a few houses that way but you'll buy more, a lot MORE by meeting with the seller, building rapport, find out about their problem and make an offer to solve it.
Dealmaker
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