Be Consistent To Attract Your Preferred Buyers

Housing wholesalers need to plan best the ways to keep business coming; houses don’t flip themselves and potential clients don’t just stop you in the street or at the burger bar. You have to proactively farm and fish to generate or harvest your new business opportunities.

Consistency is a must as you build and grow your business. And all effort needs to be measured because until you have tried something new for a period of time and in a consistent manner, you can't decide if it works or not.  You cannot measure effectiveness if you have not done it consistently.  When consistency is practiced, it maintains your message and establishes your reputation.  Just make sure it is a good one. 

What Buyers to sell to?  Cash!  I have learned to never assume that every wholesaler knows that cash Buyers is what they want.  I am amazed at how many try to sell to finance Buyers (and rarely succeeding).  Selling to finance buyers is not usually our first choices since they have all these other requirements.  If you work as a rehabber, this can be worth the wait since you are dealing with larger projects in many cases.  If you are a wholesaler, you want the cash Buyers.  Speed and simplicity is king in your line of work. 

Choose Clients That You Prefer

First of all, we will work with anyone who is credible.  However let’s talk reality here…some people are easier to work with than others.  It will help you to analyze and make categories for the Buyers you already sold to so that you can target the kind of buyers that you can however as a wholesaler, you want simple and easy every chance you can get.  Some categories may be as follows:

First time buyers wanting their own home (for the rehabbers)

Brokers with Buyers (could be wholesale or rehab deals)

Other Investors including Flippers

Wholesalers

Tire Kickers (and other investors who may not be so serious) 

With tire kickers, some are truly legitimate and sometimes a simple conversation to help them out can be very helpful to you to create a win-win.  Some simply want a quick buck from the latest infomercial.  I tend to avoid the latter but you can make your decision accordingly.

Put Some Thought and Effort into Advertising

Attract the right buyers by appealing to their core values.  As mentioned in my previous blog: To Succeed in Investing in Real Estate Don’t Let Dollar Signs Blind Your Vision,  people will buy from people who they like and trust.

 1.Newsletters are fun!  They are interesting, appealing and even useful and don’t lose  your  sense of humor.  It’s good to joke around too.  Newsletters also serve as a reminder  that  our company exists and that we are consistently in the market.  We can position our  company as a real estate expert.

 2.Mail blasts can be fruitful but don’t start spamming.  Only send these to subscribers or  to  people interested enough to leave their contact details on our website or request to  be  added to our mailings.  Mail blast can be a very effective tool to get our new listing  quick  enough to generate interested buyer.

 3.Check out the MLS for investors who can be identified on the Multiple Listing Services as  buyers and sellers of property who are part of an LLC or Trusts. Sometimes these can be  very valuable contacts.

 4.Foreign investors.  While this is a bit of a mindset shift for many of us, there is great        opportunity here.  Some are doing this because they know the potential of investing in    the  USA and others who may want to invest as a stepping stone to get a US citizenship.    Understand their needs and the relationship can be mutually beneficial.

Remember, consistency will eventually payoff.  Planning makes perfect and it is a habit.  If you plan your business goals and target the clients you want to attract, then you can be very successful in 2013 and beyond.