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The Essential Guide on How To Build and Promote Your Buyer's List
Very frequently asked questions about Buyer's Lists are presented here, along with links to various threads that provide the info being sought. Enjoy!
Info to get from Buyer's for your list:
http://www.biggerpockets.com/forums/93/topics/53979-what-do-you-ask-when-building-a-buyers-list
http://www.biggerpockets.com/forums/93/topics/50946-buyers-list-template
Building Wholesale/Investor buyer's list:
http://www.biggerpockets.com/forums/93/topics/40258-how-to-build-a-buyers-list-fast-28-ways
http://www.biggerpockets.com/forums/93/topics/23272-top-ten-ways-to-secure-a-buyers-list-
http://www.biggerpockets.com/forums/79/topics/45440--find-cash-buyers-now-system
http://www.biggerpockets.com/forums/311/topics/51913-finding-cash-buyers
http://www.biggerpockets.com/forums/93/topics/50573-best-ways-to-find-cash-buyers-for-wholesaling-
http://www.biggerpockets.com/forums/88/topics/45878-how-to-find-cash-buyers-
http://www.biggerpockets.com/forums/12/topics/25486-building-a-buyers-list
Building Retail buyer's list:
http://www.biggerpockets.com/forums/93/topics/38645-top-1-ways-to-secure-a-retail-buyer-list
"Promote your buyer's list":
http://www.biggerpockets.com/forums/89
http://www.biggerpockets.com/forums/69/topics/28741-promote-your-buyer-s-list-here-
That's what I like about this website. Lots of useful info and friendly people willing to help out.
Im surprised that building a buyers list is still a major issue for most new investors. Its the easiest thing to accumulate. With all the cheap forms of advertising and free online classifieds, you should never run out of buyers that want to buy your deals.
Simple way: get blank bandit signs and write on them with a 15 mm marker. Place these things all over the city. Don't dare try to answer all the calls yourself. Google voice them with "Do not disturb" enabled.
Delondon,
What do you write on your signs?
What do you say on your VM?
I want to know if you guys are currently using SMS text messages to keep your buyers informed? I am testing this out and it is looking good so far.
@Chris T.
on the VM I just say, Hello, we pay cash for houses, please leave your name, phone number and email address aswell as details about your property and we will contact you with in 12-24 hours,
Thanks and have a nice day.
What I write on my signs a depends on what I am marketing for.
If I am looking for sellers I write:
We Buy Houses
803-xxx-xxxx
or
We Pay Cash
For Houses
(phone number)
If I am looking for buyers of cheap homes I write:
3 bed 2 bath
Needs TLC
$17,000
(Phone number)
Voice mail goes something like:
Hi thanks for calling, If you are calling about my house for sale, please leave your name, phone number and email address so that I can send your more details about the home.
Thanks and have a nice day.
(I use a female voice over for this as it sounds soothing.)
This is a great post. Delondon Dear we are testing out SMS messages to our buyers and having great response. The opt-in rate is pretty high so that's exciting.
Yes, building a buyers list is pretty easy to do. The key is building a relationship with your list and being able to sell them more then just RE deals.
Not only is the money in your list but MORE money is in the relationship you establish with your list!
Hi Lolita,
I had a programer buddy of my hook me up with a system that is kicking serious but in my city with SMS. I am in my 2 week of testing it and it is absolutely amazing. I love that fact that the message gets out to my entire buyers list right on their hip, and not in their email inbox. Once the the text message goes out it takes them to a website.
If they do decide to call the number back they will get a message instructing them to go to the website and look at a video of the house. In the video is a quick something I put together showing the house. It only cost me .01 cent to send a message to each person. You get a very high response rate from your buyers. I am loving this! It is a real time saver and to be quite honest, I like it better than email blasting to your buyers list of a property you have available. I will share more after I am done with the testing phase.
The other major benefit of text message marketing is the open rate! Today, 100% of text messages get opened and read (if only scanned over). Email doesn't have that.
So you combine the immediacy of contact by phone with the 100% open rate and you won't miss a lead.
This will likely change as time progresses, email and text messaging is really sort of the same thing. As more and more people move to 3G and 4G networks I think there will be a convergence of email and text messaging into one platform and we will lose the benefit of the 100% open rate. But for now it works like a charm!
thanks Steve for the great information...
Travis you are right. I love text message marketing. I am not sure about a 100% open rate, but I am sure it is pretty darn close. The reason I say no sure about the open rate is because believe it or not, many people still dont have the text messaging feature on their phone or they think they dont need it, but most do have it.
great thread.
enjoyed reading all the replies. I'm a newbie here and looking to get started in wholesaling. Thanks all!
I see folks don't want this thread to end. lol. Really guys, open your eyes to Text message marketing. It is hot as heck right now and never going anywhere. I will be helping my guys get into this market with .01 cent text messages. Some guys are getting a few penny's off the top for profit reasons, but you can get your messages sent for .01 cent every time.
I use a system that my programer and I brained stormed on for months. testing and tweaking. I will be showing you guys what I mean soon. Anyway, it sends them a text message when they call the number with a voice over giving them a CTA, call to action. Its another cost effective way of marketing.
Originally posted by Delondon Dear:
I use a system that my programer and I brained stormed on for months. testing and tweaking. I will be showing you guys what I mean soon. Anyway, it sends them a text message when they call the number with a voice over giving them a CTA, call to action. Its another cost effective way of marketing.
This is genious Delondon Dear and I've been waiting for someone to mention it! Phones are only becoming more and more popular as time goes on. Soon, the majority of everything will be done on your phone instead of on the computer. More and more people are getting smartphones and more and more people are starting to use them more frequently.
If you can establish a text message marketing campaign now, you will be ahead of the game when the time comes.
Wow, this is amazing@ I'm SO glad again I found this forum! Reminds me once again that I can do this because there are so many willing to help and offer knowledge!
Steve thanks for the great resource ! That is so helpful in getting creative...
This is fantastic. Thank you!
HOLY GUACAMOLE! This thread is great! Thanks Steve.
It's not too often that you see a post get 100 votes - thanks to all who voted up the original post!
@Steve Babiak , as a newbie I have to say thank you so much for this list. This is going to be so helpful to me. I didn't come into wholesaling thinking it was going to be easy, but the parts of it that I thought might not be so hard have ended up being time consuming and you have just helped me tremendously.
The list is much appreciated. Thank you for sharing your research.
What a great THREAD ! Steve you truly have help us a lot by sharing all these links.! Thanks a lot.
Best
Raul Salmeron
This is a great post. Thank you a lot!
Very informative! Thanks for the work that went into this!