How To Build A Responsive Buyers List In Real Estate Investing
Successful real estate investing largely depends on selling the houses you acquire quickly. This applies to most business models such as wholesaling, or selling on terms such as lease options.
The biggest asset in selling houses quickly is building relationships with people who need to buy the properties you are selling and who have the capability to do so.
In this article, we look at how to build and maintain a responsive list of potential buyers.
Your buyers list is your most valuable asset and should be tended very gently. You will get more sales from more responsive lists.
There are two types of buyers lists:
1) Wholesale Buyers List
This is a list of real estate investors looking for investment properties at wholesale prices. If you are a wholesaler or sell some of your properties at wholesale prices, then building this list is a must.
2) Home buyers list
This is a list of buyers looking to live in the homes they buy. In most cases they are not looking to buy investment properties.
The most common type of buyers list is the list of buyers looking for houses with creative financing such as lease options.
Obviously, a list of buyers in your local market is the most responsive. A buyers list targeted to your local market is better than one targeted nationwide.
The size of your buyers list may not be so important as long as it is responsive.
Someone who has not bought a house in a year or more is of little to no value in your buyers list.
How to build a responsive buyers list
The following things are mandatory to building a buyers list:
1) Get a real estate investor website
You cannot build a buyers list of they do not have somewhere to sign up. This is why a website for your real estate investing business is a must.
The website needs to have buyers lists integrated, or the ability to create lists freely as you need. They can then sign up to your list as necessary.
The website should also allow ability to ask for contact information before they can view the properties.
Alternatively, it should allow asking for contact information before they can view full property details.
2) Advertise your properties
Your website must prominently feature in all the ads you run. A phone number is not enough; it will not collect a buyer list for you.
This is done by a real estate investor website. Whether you advertise through bandit signs, radio, newspapers, Craigslist, etc, you must provide your website address.
I built my first buyers list by advertising my wholesale deals on our local newspaper, Dallas Morning News. Instead of a phone number, I gave them a web address with a list of houses for sale.
They had to provide full contact information to access full property details. I was able to build a list of about 200 local wholesale buyers. They pretty much bought every deal I found. In most cases I had a buyer the same day is sent out an email for a wholesale deal.
Find out how you can run your business from an automated real estate investor website for both buying and selling houses increasing the efficiency with which you close deals. Specifically, find out how a website for selling houses can help you sell your houses fast by automatically building a buyers list for you as you sell, among other features.
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