Marketing To Everyone I Know - Church, Neighbors, Etc

I was thinking, as part of my marketing plan, to write letters or postcards and hand-deliver them to my immediate circle of influence, to let people know that I'm a real estate investor looking for houses, and if they know of a good deal to refer it to me, and if I close on it, that I'll pay them a finders fee. What would the going rate for that be? $250? $500? I'd like to state that in my letter to get them interested.

Thanks,
Ginnie

[ Edited by godiva on Date 06/02/2004 ][ Edited by godiva on Date 06/02/2004 ]

Comments(4)

  • NancyChadwick2nd June, 2004

    Ginnie,

    I'll defer to others on the subject of the fee.

    I just wanted to say your idea of getting the word out to your spheres of influence is right on the nose. This is what RE licensees do when they start out. Spread the word far and wide. You never know who knows someone who knows someone. There are benefits of getting that word out to people who connect with lots of people every day, even if these "contacts" are outside your network.

    Nancy

  • loon2nd June, 2004

    I like offering 1% of final price of any deal that closes. Gets 'em thinking big. And if I can't afford to pay 1%, the deal's dead in the water anyway.

  • labellavita3rd June, 2004

    Thanks Nancy.

    Loon- 1% sounds fair, I had no idea how to price it.

    Thanks!
    Ginnie[ Edited by godiva on Date 06/03/2004 ]

  • JasonVanOrden1st July, 2004

    godiva,

    Networking like that in your "circle of influence" is an excellent idea and largely neglected by entrepreneurs.

    I have used $500 in the past, but I think I am liking the 1% point that was made.

    Let us know how it goes.

    Jason

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