Generating A Buyers List
When you're starting to generate a buyers list and when you start getting phone calls and you don't have any properties under contract and potential buyers are asking what you have, or what kind of deals are you talking about....how do you get past these questions? Should I just say, "well Im just starting out..." or should I tell them I dont have any in stock right now, or try to aviod and answer and just tell then that I would like to contact them when I do have a great deal.
What is the best approach to this situation?
JB
Think of a great deal on a property that you would want to buy....
Tell them about this made up property just so they think wow (s)he comes across great deals and for your image.
Follow up with telling them that it has been sold but you will keep them on your list for future properties you come across.
WIN-WIN situation.
I've seen a lot of people reccomend this, but florida law says that if you advertise a property without a vested interest in it you must have a RE license.
Here is the Florida Statute:
475.43 Presumptions.--In all criminal cases, contempt cases, and other cases filed pursuant to this chapter, if a party has sold, leased, or let real estate, the title to which was not in the party when it was offered for sale, lease, or letting, or such party has maintained an office bearing signs that real estate is for sale, lease, or rental thereat, or has advertised real estate for sale, lease, or rental, generally, or describing property, the title to which was not in such party at the time, it shall be a presumption that such party was acting or attempting to act as a real estate broker, and the burden of proof shall be upon him or her to show that he or she was not acting or attempting to act as a broker or salesperson. All contracts, options, or other devices not based upon a substantial consideration, or that are otherwise employed to permit an unlicensed person to sell, lease, or let real estate, the beneficial title to which has not, in good faith, passed to such party for a substantial consideration, are hereby declared void and ineffective in all cases, suits, or proceedings had or taken under this chapter; however, this section shall not apply to irrevocable gifts, to unconditional contracts to purchase, or to options based upon a substantial consideration actually paid and not subject to any agreements to return or right of return reserved.
[ Edited by wpruett on Date 02/29/2004 ]
That's pretty interesting, lol, maybe I should invest in some prepaid legal services.
Thank you for the information, I have another question I'd like to private message you.
JB
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If you get options on a couple of properties, you have a vested interest in them. You will then be able to market them without a problem.
There's a way to do almost anything if you're determined to make it work.
Good luck,
Jeff
When I "run out " of properties in a hot area. I tell the buyers they can take an application and will be put on the waiting list.
Benefits i tell them:
1) first in line
2) already approved (if you are securing financing for your borrowers)
Most people agree to being put on the waiting list.
What kind of deals?
I usually tell them they are being sold below market value to get rid of them quicker. Seller wants to liquidify assets and this might be there lucky day!!!!!!!!!!!
Lori
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