top ten factors motivating sellers - Posted by Ruth

Posted by Bert G on April 06, 1999 at 10:30:45:

Oops. Sorry for the misquote.

top ten factors motivating sellers - Posted by Ruth

Posted by Ruth on April 05, 1999 at 21:56:41:

It sees as though motivated sellers are few and far between in todays hot market. what are your experiences as far as finding motivated sellers? what are the most common types of sell motivation? Thanks a million, Ruth :slight_smile: happy investing all!!

Re: top ten factors motivating sellers - Posted by Rob FL

Posted by Rob FL on April 06, 1999 at 17:48:43:

I read a book years ago. The best thing I got out of it was that you want to find properties that for some reason cannot be sold in the normal way. The book categorized these into 2 categories. 1) Nobody knows they are for sale. 2) Retail buyers don’t want.

Think about those categories. What would be a #1. How about a tired landlord or an abandonned house? They are not advertising FOR SALE, you have to find them by being using creative sleuthing.

What is a #2. A brand new home with no equity in it to pay the realtor’s commission. A house in foreclosure or already repo’d. A house that needs lots of repairs. A house with a title problem. These ones are easier to find, but still require a little sleuthing.

I hope that helps anyway.

I disagree! - Posted by Jim IL

Posted by Jim IL on April 05, 1999 at 23:50:38:

Ruth,
Not to sound harsh, but you are wrong.
There are plenty of motivated sellers out there. Perhaps you are not doing enough, or long enough to get results.
Try to read the “how to” articles here. There are several about this very topic.

and, here is a REAL life example.
I run an ad that says, "We Buy Homes, CASH, Quick close, any price, condition and area, xxx-xxxx"
Well, the first two weeks we got ZILCH for calls, and I was almost ready to pull the ad.
But, I remembered what Ron Legrand said, and kept the ad running.
He says that the week you pull your ad, is the week that a seller was going to call.

He was right!!!

In the last two weeks we have averaged 3-7 calls per day.
We are now working with a few “motivated sellers”, and there motivations range from Divorce to simply don’t want the upkeep, and Foreclosure.
I could write 5 pages on the reasons they have given me, but you can find out yourself by running an ad in your area.

Was the first two weeks of my ad a waste of time?
NOPE!!
One caller today said he was calling about my ad in the local paper from two Sundays ago!
(he apparently has not read the classified ads in the recent weeks, becuase it is still running).

So, go read the “how to” articles, and then try to use what they say.
IT WORKS!!

Good luck to you,
Jim IL

Re: I disagree! - Posted by Bill K. (AZ)

Posted by Bill K. (AZ) on April 06, 1999 at 13:59:32:

Jim,

What heading of the classifieds do you run your ad under? I chose to put mine in the “Homes For Sale” section in hopes that sellers, while checking on their ad and/or the competition, would stumble upon my “I Buy Homes” ad. However, my response has been weak. I intend to keep running the ad, but I wanted to get your thoughts on placement.

Thanks!

Bill K. (AZ)

It depends on market - Posted by Dan (NC)

Posted by Dan (NC) on April 06, 1999 at 08:14:02:

I’ve run essentially the same LeGrand ad for the past three months, and have averaged 1-2 calls per week from “shoppers” trying to figure out if they should list with an agent or do a FSBO. It just depends on market conditions. Interestingly, Results Homebuyers (Ron himself) advertises in our market. I can’t wait to steal a deal from him!

Re: I disagree! - Posted by Jim IL

Posted by Jim IL on April 06, 1999 at 15:44:20:

Bill,
I first ran the ad under “Real Estate Wanted” and got very little response.
But, after a week, we changed the ad to “Homes for Sale” and it picked up.
Why?
couldn’t tell ya!
(although today, we have yet to get any calls :frowning:
In my local paper, there are anywhere from 5 to 25 ads running daily in the “homes for sale” and one (other than my old one) running in “RE wanted”.
I think the readers are more apt to look in the larger section, plus on Fridays and Sundays here, the “Homes For sale” section is a seperate flyer in the paper. All the local RE agents put in ads with pictures and then the small text only classified ads run.
I am always about half way down the list, and cannot figure out any rhyme or reason to the newspapers placement of ads or order.
I am also starting an ad in another semi local paper that circulates in a nearby city with a higher population, and frnakly a higher income base.(we are going to target the higher end homes there)
That one we will run first in “Real Estate Wanted”. I noticed in that paper there are other ads like mine running every week, from the same people. Obviously they are onto something, because there ads keep running.

Hope yours picks up, and good luck to you,
Jim

I doubt it’s Ron - Posted by Alex Gurevich, TX

Posted by Alex Gurevich, TX on April 06, 1999 at 08:25:31:

I believe Ron is in Jacksonville, FL. Resutls Homebuyers is just a catchy name a lot of his students use.

Results HB - Posted by Bert G

Posted by Bert G on April 06, 1999 at 10:27:43:

Says Bud:
"I believe Ron is in Jacksonville, FL. Resutls Homebuyers is just a catchy name a lot of his students
use. "

I’ve been wondering about that. Does Ron & Co have a copyright on that name or anything? Or can anybody with hIs course use it? Especially if you use his adv copy with the “True story of Sgt watzizname”

Just kinda wondering as I kick around possible business names.

Bert G

Re: I doubt it’s Ron - Posted by Bud Branstetter

Posted by Bud Branstetter on April 06, 1999 at 09:36:50:

Legrand’s brother is operatng in the NC area so it is very possible that it is the brother.

Re: Results HB - Posted by Jim

Posted by Jim on April 06, 1999 at 14:56:16:

If you notice the investors who have web sites have virtually the same 2-3 names. It is because he explains that the name is very important.

Results Homebuyers
Action Homebuyers
etc.

Go to his web site and see!
Jim