Posted by Tony-VA on November 07, 2001 at 22:22:56:
Take a look at a book called “Ultimate Sales Letters” by Dan Kennedy.
You may be using the right medium but the words may not be what is needed to attract the attention as well. You will also pick up additional ideas on how to get sellers and buyers calling.
You can purchase this book almost anywhere.
Tony-VA
Advertising - Posted by Lawguy
Posted by Lawguy on November 07, 2001 at 21:26:48:
I need some help with advertising for motivated sellers. I began with 15 x 10 “throwaway” bandit signs (for those of you working NJ, I was contacted by local police who had no sense of humor about hanging bandit signs on telephone poles–there is a statute in New Jersey that prohibits this NJSA) with a total of three calls. The problem with these signs is that they are taken down by township authorities almost as soon as they are put up. Any suggestions would be appreciated.
Also I have used ads in a local “Penny Saver.” I got only two contacts after $500.00 in ads. Again, any thoughts on what I can do to increase contacts would be appreciated.
I have done postcards and letters to foreclosures and “must sell” property owners. No contacts to date. I also use referrals and referral fees to those I have dealt with.
It may be that I am doing something wrong. Any advice, thoughts, suggestions, etc. Would be helpful. Any online articles or “how to” articles would be great. I have put together for a few deals, using an option transaction that has helped in getting deals. I would like to have more deals to choose from so that I don’t have to resort to forcing a sale.
Am I doing something wrong? Missing a step with the advertising? Failing to use other methods? Please contact my email tristepventures@yahoo.com with any suggestions. Thanks all for your time and attention. Lawguy
Re: Advertising - Posted by Alex Gurevich, TX
Posted by Alex Gurevich, TX on November 08, 2001 at 23:29:49:
The question is have you chosen your target market correctly and is your advertising reaching it?
I hear NJ is a pretty firm market, even after Sept. 11 events. Especially so in the well to do counties.
Maybe, in the areas your ad in Pennysaver reaches or signs cover, there’re few people who are anxious enough to deal.
You’re not in Bergan county, are you? That’s a notoriously difficult place to find deals.
I’d think you might need to re-evaluate your current area and explore going into other areas, where the market is slower and lower, and the sellers don’t hold on to their homes as hard. The sign police and neighborhood watch dogs are nowhere as fierce in those places as in the well to areas. People don’t perceive real estate as assets, just places to come to sleep to.
Here, in my town in the low end areas, the signs seem to be staying forever. But try putting them up anywhere in the better to do side of town and they’ll be destroyed in hours, you’ll get hate calls, police will talk to you, etc.
Re: Advertising - Posted by DN in SF
Posted by DN in SF on November 08, 2001 at 01:24:26:
Two words: Guerilla Marketing!
Try the regular newspaper - Posted by Bill
Posted by Bill on November 07, 2001 at 22:47:02:
I have had good luck in the local newspaper even though it is about $700 per month. I have tried the Penny Saver type papers as well and get very few if any calls. From the paper, I get about 1 call per day. Even if there are 5 other ads in the paper, many sellers I talk to just go down the list and call everyone that is running an ad. It may increase your competition but at least you get just as good a shot at getting the deal as the next guy if you set an appointment within a day or two. A lot of the sellers will not except my offer until they hear what the other investors have to offer. I follow up my appointment with a phone call in a day or two to find out what others are offering. Most of the time other investors are paying way too much for dumps that I did not want anyway. But there are some sweet deals thrown in there. You got to get the calls comming in. What ever it takes. Also I have not had much luck with postcards, letters, bandit signs, so I have stopped using them all together. I do not like bandit signs personally, they are a pain in the a-- to put up and I also find that most of them are ripped down as soon as I put them up. It makes me feel like I am just spinning my wheels. That is what I try to avoid. Good luck.
Bill
Marketing ideas - Posted by JoeB(Atlanta)
Posted by JoeB(Atlanta) on November 07, 2001 at 22:15:56:
Hi Lawguy, I think you were close… I’d suggest an ongoing presence in front of sellers. That’s what has generated most of our business.
Try direct mail/postcards to ALL homeowners in your area that meet your criteria (for sales price, year built, tax assessed value, whatever)–preforeclosures tend to receive so much ‘bad mail’ and dunning letters that they don’t even read their mail anymore. Try voice blasting/voice broadcasting a ‘we buy houses’ message to phone nbrs of all ForSale or ForRent ads in paper and/or signs (have college kid get/type in all numbers). Try small billboards and bus benches.
And keep doing the above month after month after month…you’ll have more quality leads than you’ll know what to do with soon enough and none of those ideas are very expensive. But you’ve got to stay in front of your prospects, again and again. We’ve been doing the above marketing for many years now.
Best of success,
Joe Brillante
Re: Marketing ideas - Posted by Rick(MD)
Posted by Rick(MD) on April 25, 2002 at 23:29:22:
Joe,
All good ideas, but something I would like to know. You said,…
“Try voice blasting/voice broadcasting a ‘we buy houses’ message”
How do you do this??
Thanks,
Rick