This ad worked...TOO WELL! Newbies read - Posted by Scott

Posted by Scott on August 21, 2003 at 20:43:19:

I don’t even give out the address if I’m going to be around. I was doing some projects and because I was carrying in HW floors and the door was open, they would show up amd just walk in! Like I said, I got nothing done…I averaged about a sq ft an hour :smiley:

This ad worked…TOO WELL! Newbies read - Posted by Scott

Posted by Scott on August 21, 2003 at 19:28:54:

Advertised my rehab over the weekend and the response was overwhelming. I got about 60+ calls that have lingered into today. The ad reads:

Rent to own
4br Completely remodeled
$1200 mo w/5k down
call *** ****

Here’s what I’ve learned: Answering calls takes ALOT of time, I managed to get NOTHING else done last weekend. People just seem to want to chat about alot of unimportant (to me) things. Keep the calls short and sweet, I have honed my skills on this one. I try to keep the calls to about 3 mins now. I summarize the house, tell them it’s nice,and try to qualify them. If they know their score and it’s too low I just tell them they don’t have enough credit. I also ask them if they have the money, some do, some don’t, but the ones that don’t can’t come to see the house (waste my time) Yes this does happen, before I started asking, I would get “I’m getting a settlement”, “My grandmother is about to die”, “I’m gonna borrow it from my dad” etc. after they were standing in the front door! Wow I can’t believe I was being that wasteful of an RE investors most valuble resourse…TIME!

I spent about an hour on the phone with one lady only to be stood up at our 8:30 PM appt!Wasted time = 2 hrs

One lady stopped in 5 times to look at the place and still hasn’t gotten her credit app back to me. I finally told her no more visits until I qualify you. Wasted time = 3 hrs

Just giving some examples, but the moral of the story is that we as business people need to be very aware of the time we may waste or others may take from us, giving nothing in return. I’ll chalk it up as inexperience on my part by trying too hard to sell myself and my product to the wrong people. Find out who the buyers are first, then sell 'em.

I would assume this sounds like common sense, but, nevertheless I found myself making this mistake!

Scott

I agree with Scott - Posted by Nate(DC)

Posted by Nate(DC) on August 22, 2003 at 11:18:27:

I do some Section 8 rentals, and it’s the same high-demand situation. Last one I put in the paper had over 80 phone calls.

I just have a voice mail box which has a short description of the property and two showing times (generally I put the ad in over the weekend, so I’ll do an hour on Saturday and a different hour on Sunday).

If you want the house, you gotta come to one hour or the other, with cash in hand, ready to apply.

I’ve never NOT had multiple applications for a property, with this method. It screens out only the uninterested.

NT

Re: This ad worked…TOO WELL! Newbies read - Posted by Julia (NJ)

Posted by Julia (NJ) on August 22, 2003 at 09:10:51:

Scott-
Here are some pointers I picked up from a book. Haven’t had the chance to use them yet :wink: but they make sense…

  1. As previously stated, get voice mail. Use a scripted message describing the property, and you can specify the amount of upfront payment required. Interested buyers can leave a message, which you return when convenient.

  2. Schedule group showings of the house. When you call back on the messages, state that you’ll be showing the house on Saturday at 11 am, and make an appointment with your buyer to see the house. Schedule all buyers for the same time- this creates competition for the house, and is a better use of your time.

  3. If you have people who are interested, have them fill out a rental application on the spot, and collect a $20 application fee (for running credit checks). Anyone who won’t fill out the application right there or who can’t leave $20 isn’t serious.

HTH-
Julia

Get a voice Mail - Posted by BrokerScott (Mich)

Posted by BrokerScott (Mich) on August 21, 2003 at 22:04:38:

Mine is $9.95 a month. Probably could find a little cheaper but that would be splitting hairs. Give a description of the property and YOU set the showing times. If they are motivated they will show up when it’s convient for you. Since most voice mails have a “please leave a mesage” prompt, I finish up with “this hot line is for informational purposes, and is only updated monthly so please don’t leave a message. Information will be available on site at the stated times.” Then just give them a flyer with a app stapled to it and about 15- 20 minutes after the hour, politely state that you have to leave and start closing up. A little prep goes a long way. Best, Scott

What works for me… - Posted by Irwin(ca)

Posted by Irwin(ca) on August 21, 2003 at 21:07:43:

I don’t put a phone number in the ad but rather give the property address. I leave flyers at the property with my phone # and the details including how much move in $'s required.

This filters out most of the the tire kickers and works well for me.

Irwin

Re: This ad worked…TOO WELL! Newbies read - Posted by Clair-MO

Posted by Clair-MO on August 21, 2003 at 20:24:51:

To write an excellent AD to buy or sell takes some creativity on your part. I have copied some Ads that some of my people whom I have mentored uses to attract folks. Here are a few samples:
Buying…

  1. YOU NEED CASH & A FAIR PRICE
    I need houses and flexible owners
    816-XXX-XXXX
  2. ESCAPE THAT PAYMENT
    I will take the boat anchor
    while you set sail. 816-XXX-XXXX
    LET ME BUY YOUR HOUSE
    BEFORE YOU BUY THE FARM
    Fast Close, Fair Prices, Cash
    816-XXX-XXXX
  3. IF IT MAKES SENSE FOR ME
    to buy your house, I will.
    FAIR OFFERS, CLOSE QUICK.
  4. MOVING?
    I WILL MAKE YOUR PAYMENTS,
    do maintenance & find the perfect
    family for your home. XXX-XXX-XXXX
    FEEL LIKE THE WICKED WITCH OF THE WEST?
    Got a house on top of you that you just
    can’t move? I can help, and you get to keep the shoes.
    XXX-XXX-XXXX FAIR OFFER, FAST CLOSE.
  5. BALL & CHAIN DRAGGING YOU DOWN?
    Get out of jail with a free with a fair offer &
    cash
    Selling…
  6. LITTLE DOWN, LOTS OF HOUSE!
    3/2/2, great schools, great neighborhood
    FLEXIBLE OWNER HERE TO HELP
    you build your future. XXX-XXX-XXXX
  7. FOUND - 3BR/2BA/2 answers to the name
    123 YOUR STREET, missing its owner
    LEASE W OPTION TO BUY and this puppy
    can be yours. XXX-XXX-XXXX.
  8. LEASE TODAY! BUY TOMORROW!
    Beautiful 3/3/2, great schools, wonderful
    neighborhood needs family to match
    XXX-XXX-XXXX
  9. NO PITTER PATTER OF LITTLE FEET
    Can you help? 3/3/2, great area/schools
    Owner flexible for the right family
    XXX-XXX-XXXX
    Hope these will be of help to anyone who is new!!!

Re: This ad worked…TOO WELL! Newbies read - Posted by Christen

Posted by Christen on August 21, 2003 at 20:13:52:

Same thing hapenned to me. I got to hear about their divorce, who cheated on who,etc. I too had to hone my skills. I’d be talking about the house and selling it, answering questions, talking about the size of the yard to someone with a 520 fico, with no $ on SSI. The first words out of my mouth after the address of the house are “let’s talk about your credit”.

Re: What works for me… - Posted by Darkside

Posted by Darkside on August 24, 2003 at 08:22:40:

Joe Kaiser’s Ultimate Lease Option Strategy course includes an excellent method for screening prospective tenants. The beautiful thing is that the investor’s time isn’t wasted with Joe’s system, but rather the prospect jumps through a few hoops before ever getting to speak with a live person. I don’t want to give away the details of the system. That would be unfair to Joe, but I will say that it’s similar to Irwin’s suggestion, and according to Joe, he’s used it successfully on many occasions.

Sorry I can’t go into more detail…you can buy the course from this site…for only $169.00.

Hakuna Matata

Darkside

Re: This ad worked…TOO WELL! Newbies read - Posted by Scott

Posted by Scott on August 22, 2003 at 08:03:04:

Clair, did you read my post? Creativity wasn’t needed at all, good time management was my point. I went with the simplest ad I could, and the response was great…well kinda. I’m glad you posted those ads, they were VERY creative :slight_smile: I may try out some of the buying ads. Thanks.

Re: This ad worked…TOO WELL! Newbies read - Posted by Scott

Posted by Scott on August 21, 2003 at 20:44:25:

I don’t even give out the address if I’m going to be around. I was doing some projects and because I was carrying in HW floors and the door was open, they would show up amd just walk in! Like I said, I got nothing done…I averaged about a sq ft an hour :smiley: