FSBO’s and FRBO’s newspaper ads can change on daily basis. It would seem to me that it would be necessary check them daily and crossreference the phone numbers already your database to make sure you do not miss a new ad.
How do you keep track old FSBO’s and FRBO’s already your database verses new ones? Do you check the newspaper daily, spot check, or do you save each daily ads and check on the weekend?
"I have modified a well known guru’s scheduled mailing software with letters to go to L/O candidates, so once they are in the system, I let the software do the work. "
Would you mind revealing details about the guru’s software?
I have placed 2 Wanted ads in my local newspaper in Southern California (Riverside County) with a circulation of more than 1 million… Both ads were in the WANT TO BUY REALESTATE section for a weekend each… They are as follows… I BUY HOUSES… COULD PAY FAIR MARKET VALUE IF FLEXIBLE ON TERMS… On both ads I had 0 calls… Could you tell me what ads will work before I spend a fortune on mistakes… Thank You
I have run the same ad for the past 9 months now. It is quite common and goes as follows:
I WILL BUY OR LEASE YOUR HOUSE WITHIN 48 HOURS!
ANY AREA, CONDITION OR PRICE!
CALL NOW!!! XXX-XXX-XXXX
I run this ad 24/7 365 days a year. This coupled with bandit signs, flyers, business cards, mailouts to expired MLS listings, letters to FSBOs and FRBOs in the local paper, cards to foreclosures and a website gets me from 10 to 20 seller calls a week. I haven’t done a cold call in months!
It didn’t happen overnight mind you. The first few months I wondered if any of this was going to work but eventually, word of mouth gets around (hopefully it is good) and people start to call. I will purchase 4 houses this month, my biggest month to date, all part time and through the above sources.
My suggestion to you would be to place the ad and leave it. It may be expensive but it is just a cost of doing business. I don’t believe that the “weekend” ads will work for building the business. We have very few investor ads here in the local paper, just 3 that are constant. I see a newbie on occasion that will run a “weekend” ad a couple of times but then I never see it again.
How much time do you spend on your mailouts to FSBOs,FRBOs and expired listings? I mean does it get a bit time consuming researching these lead sources and then creating mailers?
I get calls from all kinds of houses. I have bought everything from an 8k fixer to a 160k “pretty house” that I hope to get signed up next week. (Out of town owner) Most are just curious or are not really motivated but the phone does ring and all it takes is a few good calls a week to keep you busy.
I probably spend 2 or 3 hours total each week on making contact with sellers, most of it on the weekends. On the first of the month the foreclosures come out in the paper. I put these names in a database and print labels that I place on a postcard that I use to mail out to them. After that is done all I have to do is print out a new sheet of labels to mail out to them again. I do the same with the FSBOs and FRBOs. I use a reverse look up to get their address and into the database they go. Print out that label and onto my postcards that I made to target them and into the mail they go. I got a deal with my printer and she prints those things up for me at .03 apiece so I have them printed by the 1000’s.
I get the MLS book a couple of times a month and when I do, I target the expired and “motivated seller” listings. I have modified a well known guru’s scheduled mailing software with letters to go to L/O candidates, so once they are in the system, I let the software do the work.
Once you get the names in, it is easy after that. Just push the buttons, lick the stamps and answer the phone!
Once you have your system down, it is just a matter of routine.
Using classified ads that lead sellers to a website is a very powerful too I believe. I know it has been for us. I think the website gives you credibility and definately creates interest in your programs. It also is a lead generating tool that requires little upkeep or time.