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you have no Motivated Sellers to talk to.
Buying houses from Motivated Sellers with little or no money out of your pocket is the name of the game, and marketing is the thing that brings in the Motivated Sellers.
OK, so, marketing. Really fabulous! But, what does it mean? So far it's just a word I've said 10 or twenty times, right?
Well, there are two types of marketing people typically use.
The traditional approach which, for want of any better way to go, usually involves just going out after randomly selected sellers. They haven't been screened or qualified in any way. We just know they have a house to sell. We run up big phone and classified ad bills to get to talk to them. In communicating with them we usually talk to them about our financing, and how great it is, and if they will just sell to us their "problems" will go away. We do it manually; call by call, door by door. We talk about us, rather than inquire about them. We chase, they run. When we stop, the marketing stops. The cost per deal is very high, both financially and emotionally.
The second approach is the targeted, low-cost, systemized, response-oriented approach that, through a variety of media (such as direct mail, lead generating classified ads, flyers, signs, radio, cable TV) states or implies a benefit for the seller, calls for a response from them, and positions you as "the solution" for the sellers who want that. The sellers step forward and select you. The marketing is automated, and it is an operating system that works whether you are there or not.
I don't want to shock you, but we are not goin |
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