Identifying Seller Personas / Acting Accordingly

[Matthew Wilson]

Hello BP Fam!

I am reaching out looking for advice from my direct-to-seller comrades in the small multi-family space as well as any individuals who are operating within the real estate as a business vehicle (compared to that of a "passive" investment). I am in the planning stages for making a Real Estate business that would operate as a hybrid between wholesaling and an investment firm, taking a note out of the business model of the popular wholesaler/IG account InvestWithAce (Ace Properties). 

As part of driving the sales portion of this business I am building out seller personas so that I, and the team I am building, can quickly identify seller motivations and the kind of marketing/messaging that would be most appropriate for the seller. Most of my own experience has been on market through agents or targeting distressed single-families, and from theory. My current understanding of the sellers position is whether they are coming from a point of Pain (looking to retire or walk away from real estate, bad tenants or property issues causing headaches, inherited the property, law suit etc) or from a point of Gain (looking to cash-out or 1031).

The end state from this will be to build out strong seller persona's (To be shared later with the the community!) and effective marketing products (direct mail letters, post cards, whatever it may be) that speak to a seller the clearest and result in a lead conversion and an effective solution to both sides of the transaction, as well to avoid talking to unmotivated owners (looking for astronomical prices or not interested in selling at all)

Any advice or experiences you have had are much appreciated!!!