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Hey, it's Joe. I've got another question. "I was reading your article on building a
buyers list and I think I understand how to build a database and use the autoresponders
and the web pages but I don't know which of your buyer marketing strategies work best.
Could you tell me how to get started building my list and which of the ways would be the
least expensive to start using?" - Illona, Alberta, Canada.
Illona, there's a couple of ways. One of the basic, down to earth, really organic ways
is that we use these ugly signs that you see around town that say, 'Rent to buy - no qualifying'
and a phone number. Those are probably the cheapest cost per lead advertising that we
do on anything that we do. It's just amazing how inexpensive it is. You can get a lead
for 50 cents apiece. For a dollar a piece you can get buyers to come into your marketing
system, so it's a very good method. We've got a whole way that we do this where
we drive them to a voicemail. We've got a special script that we use. If you just use
that script and get people to come into it, you'll get a lot of leads. People also tell
me, 'I saw those ugly signs. I'd never buy from one of those people.' I'll tell you - people
do buy from those. And as a matter of fact, we've tested the ugly handwritten signs versus
the professional looking printed real estate signs, and the ugly signs work a whole lot
better. I know you've got some restrictions because
you're an agent about putting your name on there, so you've got to figure out how to
make that work for what you're doing as well. Feel free to ask me on those (I won't get
into how to deal with all of that stuff) - there's lots of ways that you can do that. You can
partner up with people that are investors that aren't realtors who can help you build
your database; there's lots of ways that you can solve that problem. So that's one of the
ways. The other way that's been very effective for
us is using Craigslist, and if you offer rent to buy properties in Craigslist, you're going
to get a lot of people that way as well. So finding buyers is not difficult. Keep in
mind that one in ten of the people that call on a rent to own sign or a classified or ad
on the internet (and there's lots of other internet techniques to get buyers a swell
but I don't have time to get into those) but one in ten of all of those people that call
are actually going to qualify for a real mortgage. They just don't think they do.
How many times have you talked to a buyer that thought, 'Oh no, I had a bankruptcy three
years ago. I can't qualify,' and then you do the credit and you know they only need
two years after a bankruptcy to qualify; they just don't know that - they think that their
bankruptcy is going to be on there for ten years. A lot of these people have established
credit again, so you can use some of these people and take them into the MLS and get
it done. There's also a way that you can go in and
take these rent to buy people into the MLS, since you're an agent, and find them rent
to own properties through the MLS. Just set them up so that you keep the lease option
fee, and it doesn't go to the buyer, and most of these sellers aren't looking for lease
option fees, but if they are, you can negotiate it with them and make sure that you keep it
and you can take them on an offer so that you get that.
I've got people who are doing it. It's a very effective. It's a good way to make that happen,
plus you have the potential of making a commission on the back end if the option is exercised.
There's a lot of details here that I'm trying to get into a three minute video. Hopefully
I'm giving you an idea of some of the things that we're doing. I hope that helps. Thanks.