Ads in the newspaper????? - Posted by Tim Jenkens


#1

Posted by Tim Jenkens on January 15, 1999 at 11:25:46:

Thanks for the advice. I guess I am looking for some magical word to tell me. This guy is motivated… I will just sit down and call every ad and try to figure out why they are selling…

Thanks


#2

Ads in the newspaper??? - Posted by Tim Jenkens

Posted by Tim Jenkens on January 12, 1999 at 20:10:22:

I have been calling FSBO ads in the newspaper almost every night. It seems that I can’t find any motivated sellers. Do you call every ad in the paper or the ones that seem to be motivated? I feel as though I am wasting my time with this.

Tim J.


#3

Re: Ads in the newspaper??? - Posted by JPiper

Posted by JPiper on January 13, 1999 at 11:49:39:

How did you determine they weren’t motivated?? What did you ask?? What did they say??

JPiper


#4

Re: Ads in the newspaper??? - Posted by Lisa

Posted by Lisa on January 13, 1999 at 03:14:12:

I swear to God that as I was driving today, I saw a guy driving a van and the entire rear window was filled with adhesive lettering saying “I BUY HOUSES,” and a phone number.

You gotta give the guy some credit. He looked pretty decent and so was the van which helps overcome some anxiety feelings of sellers dealing with the unknown–I’d call if I were selling!


#5

Re: Ads in the newspaper??? - Posted by Bob Eberle

Posted by Bob Eberle on January 12, 1999 at 22:48:58:

When I have the time, I will do what someone else recommended with the reverse directory. However I will not send something to all of them. Only the ads that hint at motivation. Must sell, desperate that sort of stuff. I don’t do this very often, mainly because even though they had to call me, I generated that call with the mail. The ones that are really motivated that respond to this method are preforeclosures. Now that’s motivation. The best response out of newspaper ads are the calls that come from my I Buy Houses… CASH! ad. Hope that helps


#6

Re: Ads in the newspaper??? - Posted by Steve B (MA)

Posted by Steve B (MA) on January 12, 1999 at 21:54:04:

www.metcrawler.com combines all search engines into one list and if you go under ‘People Find’, you can do a reverse lookup by address; phone numbers (Business/Personal/Fax #'s); and address.

Steve B (MA)


#7

Re: Ads in the newspaper??? - Posted by John Estell(Denver)

Posted by John Estell(Denver) on January 12, 1999 at 21:46:24:

I’ve gotten from this site an internet address that’s been working for me. It’s www.555-1212.com. They have a reverse for phone and address. Also I believe www.anywho.com Good luck.


#8

Re: Ads in the newspaper??? - Posted by Jim_NC

Posted by Jim_NC on January 12, 1999 at 20:36:12:

Go to your local office depot or what ever office supply store is in your area and get yourself a reverse directory cd-rom. You can put the phone number in and it will give you the name and address of the person. Send them a letter explaining what you do and if they are interested to give you a call. The people who call will be motivated(although some will call out of curiosity). If they call YOU they are more likely to listen to what you have to say.

Hope this helps!

Jim


#9

Re: Ads in the newspaper??? - Posted by Tim Jenkens

Posted by Tim Jenkens on January 13, 1999 at 12:14:38:

I asked the following:

1.) Could you tell me a little about your property? (i.e. how many, baths, room, square footage, etc…)
2.) How long has the property been on the market?
3.) What is the asking price?
4.) Why are you selling?
5.) Would you mind telling me how you arrived at this figure?
6.) Have you ever considered offering any type of seller carry back?
7.) If I could give you all cash, what is the lowest price you could go?

I asked the following types of questions. Are there certain keyword that you look for??? Or, do you start at the top of the real estate section and work your way down. Calling all the ads in the paper???

Thanks


#10

Re: Ads in the newspaper??? - Posted by JPiper

Posted by JPiper on January 14, 1999 at 10:51:44:

Tim:

I don?t try to figure out which ads look motivated?.I try to figure out which ones don?t. I don?t call the ones that don?t. An ad that says ?Non qualifying?.lo down? I probably won?t call unless I?m interested in the terms, because I figure it?s a competitor. Everyone else I call.

You told me what you asked. You didn?t tell me what they said, or why you felt they weren?t motivated. The key in any phone call is to LISTEN. It?s vital. What you?re listening for is not a guy who says ?Yeah, c?mon out and I?ll dump my property for 50 cents on the dollar.? It won?t happen, and if that is the goal of your phone call you?re bound to be frustrated. Or how about, ?Will you owner finance?? He says, ?Sure, c?mon out, I?ll finance the whole thing.? If you?re waiting for these responses good luck.

What you?re looking for is the conditions that lead to motivation. Perhaps some sound of frustration, some comments that give you an inking that the owner is dissatisfied with their ownership. You?re also building rapport. Once you?ve built some rapport typically the seller will loosen up with what they tell you.

They might tell you that they rented the house out and had problems. They might tell you they?re behind on the payment. They might tell you they were just transferred. This is something you can subtlely probe for the level of motivation. Take a look at the articles I?ve written about this on this site located in the money making ideas section.

JPiper


#11

Re: Ads in the newspaper??? - Posted by Bud Branstetter

Posted by Bud Branstetter on January 14, 1999 at 01:58:22:

There are certain keyword that you look for to find motivation-must sell,cheap, moving, owner finance etc.

After you establish that you can not steal it for all cash you ask if you were able to give them a small cash down can they do any seller financing on the rest. If they need more cash than you want to put up then you ask about L/O by suggesting you will do all the maintenance and get them their cash if they can defer it for a while. You need to establish what the existing financing is. You will need to ask if they can set a price under what they are asking in order to have you look at it. This is only cursury at best but I hope you get the idea.


#12

Re: Ads in the newspaper??? - Posted by Tim Jenkens

Posted by Tim Jenkens on January 14, 1999 at 12:18:20:

A lot of the sellers I speak with tell me that they need to be cashed out. I ask them if they could refinance there house to pull out some of there equity. A lot of them don’t want anything to do with this solution. I guess the only way I’m going to find this “Motivated” seller, if he/she really exist!, is to call ALL the ads in the Sunday paper. Start at the top and work my way down…

Do you have some type of system in place to call all the ads in the paper. Do you just start at the top?

Thanks


#13

Re: Ads in the newspaper??? - Posted by Tim Jenkens

Posted by Tim Jenkens on January 14, 1999 at 06:49:03:

So you look for these keywords. If the ad doesn’t have them you don’t call on them or the other ads???

Thanks


#14

Re: Ads in the newspaper??? - Posted by JPiper

Posted by JPiper on January 14, 1999 at 13:35:02:

Tim:

I don’t have a system. I just call all the ads for the most part. It’s a numbers game Tim.

All sellers will tell you they need to “cash out”. You should expect that. What else do you want them to say?? How about, “No, I don’t need cash, just c’mon out and I’ll finance the whole deal to you for 30 years.” Do think you’re going to run across someone who says this?? I doubt it.

On the other hand, you might find someone who says “I tried to rent this house out, and I’m sick of it. I had to evict the tenant.” Now guess what Tim…this is the precondition for motivation. They’re sick of renting the house. They’re now making an extra payment. Perhaps the house needs some work. Do you really need to ask them a question like “Uh gee Mr. Smith, would you carry me on this deal?”?? I don’t think you do. Why ask it at all?? You know the owner is motivated, they want to sell. Why not establish rapport, look at the house, sit down with them, discuss the situation. Perhaps somewhere in there a plan will come forth to handle their situation in a way that puts money in your pocket. And this is not done over the phone…and may or may not include owner financing. Use the phone to set appointments with people like these, get face to face with them. See what develops.

JPiper


#15

Re: Ads in the newspaper??? - Posted by Bud Branstetter

Posted by Bud Branstetter on January 14, 1999 at 14:12:15:

I was taught to look for motivated sellers first. The key words are not the only ads I would call(just first). With the evolution of the process it is more than just finding the motivated sellers that can discount or provide all the financing. You can L/O with little equity and still make money.