Posted by Gary (TX) on February 20, 2002 at 19:25:55:
I had the same problem with my buyers list, they seem to change there needs and wants overnite.
Gary
too many phone calls - Posted by joe cee
Posted by joe cee on February 19, 2002 at 16:05:11:
hi all,
sent my wife to the local newspaper to put in an add last
week.the add she wanted to put in was $95.so she kept
chopping words out of it till it was down to nothing,but!
she did leave the words will finance in there,till the
final cost was $33.well guess what? I got 7 phone calls
from that little add from people who want to buy a m/h in
the next month.i told these people give me some time to find
them a place so i dont loose these buyers.some ideas out
there how to come up with 3 or 4 places quick,only enough
cash for 1. joe cee
Re: too many phone calls - Posted by Dave(WNC)
Posted by Dave(WNC) on February 20, 2002 at 15:08:03:
Frankly Joe, I’ve stopped looking for buyers unless I have a trailer to sell. I’ll get 10-20 messages a day wanting to throw out big wads of cash for it.
But, remember the old adage… “Buyers are Liars.” People telling you their credit is rosy and they have a roll of dough in their pocket that they just have to get rid of as soon as possible doesn’t usually pan out. Until you get them in the trailer itself, filling out the credit app, and signing on the dotted line, you don’t have diddely.
I kept track of buyers and wrote down their needs, what they could pay, blah, blah, blah… Then went around hunting down a trailer for them. I wasted a lot of time with that because when I called these people back, they had changed their minds or bought a big screen TV instead or decided to move in with Grandma or their phone was disconnected.
Find a good deal on a trailer and buy it. Then relax for a couple of days. Learn the steps about ownership, titlework, insurance, etc. Heck, go through it with a fine tooth comb one afternoon to find out how mobile homes are constructed so you have a better idea of what you are looking for in future deals. You’re not going to go broke unless you sell this thing ten minutes after you bought it, are you? Until you have something in your inventory to show these people you are just making conversation. By running around looking for a house for these people, who’s in charge, you or them? Who’s more motivated (read desperate) to make this transaction, them or you? If you let people know they are driving the deal you’re sunk.
Don’t worry about finding buyers. If you got 7 calls from that little ad when you don’t have a unit, don’t you think you’ll get the same amount when you actually OWN a trailer? The reason for the dummy ad is to test the market for market rates for certain size trailers in certain areas.
For instance, if you advertise for $9,000 and get 20 calls a day then if you do have a unit similar to this, you should probably price it higher than $9,000. Now when you go to buy one you know exactly what you can sell it for BEFORE you even buy.
You’re in charge, not them.
Cheers,
Dave
Re: too many phone calls - Posted by ScottS(NC)
Posted by ScottS(NC) on February 19, 2002 at 19:22:30:
Joe,
Hi, I have the same problem here lately lots of potential buyers not enough sellers. The only way I know to remedy this is ride those speed bumps often, watch the papers, talk to dealers, movers, mobile home part stores and hand out cards by the hundreds. Also talk to your potential buyers and pre-screen them ask them how much they can put down. Find out which buyer you like most by down payment, how much can they afford monthly, hows there credit, job situation ect. Then find out that buyers needs and look hard for them. They have the most to offer you take care of them. Boils down to shoe leather and (gas) Joe. Go get one! Take Care ScottS(NC)
Re: too many phone calls - Posted by JoeP(VA)
Posted by JoeP(VA) on February 19, 2002 at 19:07:56:
Ironically, I have a similar situation… I placed 3 ads and my phone wont stop ringing…Im working on doing my first deal now, so im not a know it all by any means, but my 2 cents would be to be VERY organized with your paperwork…if you dont have “Buyer information sheets” make some or you can buy the floppy disk from Lonnie with all the forms on it. Keep track of what your buyers want, and weed out the ones that arent serious or dont have money. I have 2 people that want to pay me cash and about 15 others that want financing, so my objective for my first deal is to sell for cash to gain more capital to reinvest in more “Lonnie deals”…just my 2 cents, hope it helps…