How Effective Is Telemarketing?
Hi,
Well, after two months full time in the business, I realize that I need to sharpen my marketing efforts. Until now, my campaign has consisted of driving around in my car looking for vacant, abandoned houses(I am a wholesaler). But I am realizing that this is not resulting in a lot of offers because it is very difficult to find the owners or if I do they are not motivated.(Nothing is more discouraging than an unmotivated seller.) I am all out of cash(spent in on my wholesaling course and efforts up until this point) I was trying to think of a free way to advertise and I thought of calling people randomly in the newspaper in a certain zipcode. I know it seems strange, but desperate times call for desperate measures!
HAs anyone tried this technique? Do you have any suggestions of how I could make it more effective?
[ Edited by results_one on Date 10/13/2003 ][ Edited by results_one on Date 10/13/2003 ]
I do not suggest the Telemarketing approach, it is fast going down the hill. The reason as you know is the amount of resistence built up to it as more and more people utilized it. Insurance, Loans
and of course many many Scams.
I do not know what area of the country you are operating. Rural, Suburbs, Big City. Each is different.
With a Real Estate License life is a lot easier. I just go knock on doors and offer a free appraisal in view of the rapid changes in valuation. That gets me in and the rest is up to the skilled Negotiator. Refinance, Sell, Fixup. Add a unit, etc. etc. You should be qualified to do anything in the field of real estate.
If you decide to bite the bullet and run Preforeclosures. The homeowner is in default. You can always say you are there to appraise for a new loan. And then do it!
In my area running around looking at rundown houses might be a waste of time, cause in my area a lot of my neighbors keep their properties that way cause they do not care, or do not have the money. Besides the taxes on booze and cigarettes is going up so first to go is the gardener.
If you are really expert you can of course leave a slip in the door which says, I was here I did the Opinion of Value and call me for the results.
Hope this is of some help. Got lots more if and when you need them.
Cheers Lucius
It seems that you should worry about eating and paying for some other necessities before you go any further with your real estate career. If you have some assets that you can liquidate than continue on course. If not, you probably need to get a job-pronto.
You have to figure any deal you do will take 1-2 months before you receive any cash. That's if everything goes smoothly. Can you hold out?
Calling FSBO's can work. They are offering their house for sale. You as an investor/wholesaler can help them sell their house. Realtors can't solicitate them any more -if they're on the "Do Not Call Registry"
Randomly calling homeowner in a certain zip code could have worked before the "Do Not Call" restriction went into effect. Telemarketing to these people will get you in a heap of trouble.
Get access to your county records and find the folks going into foreclosure. Send them a nice letter telling them you can help them and you have CASH!
Create flyers on your printer at home and then put them in various areas. i.e. public phones, grocery stores, car windshields, front doors of houses in your areas of interest, etc. Purchase some bandit signs and put them up in your areas of interest. Get those magnetic car signs and while you drive around you are advertising.
Many many ideas. Read this section and the archives and you will find many things that are low cost. Driving around all day may not do much but run you a high gas bill.
Thanks for all of your suggestions. I am currently making some flyers on my computer and cut a deal with one of my friends to print thousands for free. I just need to use my head more and be creative. Because of my fiance, I am not out on the street, but I am anxious to get a deal done. I'll keep all of you posted on the results of my efforts.
What about combing the papers for legal eviction notices = Tired Landlords.
Be careful not to call property management companies who will be in there a lot probably, but look for single owner landlords. That might be a way.
Take a closer look at the new Telemarketing rules. I have been through it several times. I have seen nothing that states you cannot call people to ask if they want to SELL something.