Monday, April 30, 2012

How To Build A Responsive Buyers List In Real Estate Investing

Selling houses quickly is mandatory to success of a real estate investing business. This applies to most business models such as wholesaling, or selling on terms such as lease options.

Building relationships with people looking to buy the houses you sell is the biggest asset in real estate investing.

Building and maintain a responsive list of potential buyers is the subject of this article.

Your buyers list is your most valuable asset and should be tended very gently. The more responsive it is, the higher the chances that you will sell your houses to members of your buyers list.

There are two types of buyers lists:

1) Wholesale Buyers List
This is a list of real estate investors who are looking to buy properties at wholesale prices. You must build a wholesale buyers list if you flip houses at wholesale prices.

2) Home buyers list
This is a list of buyers looking to live in the homes they buy. In most cases they are not looking to buy investment properties.

The most common type of buyers list is the list of buyers looking for houses with creative financing such as lease options.

The most responsive buyers list is located in your local market. A buyers list targeted to your local market is better than one targeted nationwide.

This means that as long as you have a responsive buyers list, you may not need a big list to move your deals.

Someone who is not currently buying houses has little to no value in your list.

How to build a responsive buyers list

In order to build a buyers list, you must have the following things in order:

1) Get a real estate investor website
You cannot build a buyers list of they do not have somewhere to sign up. This is why you must have a website.

You must be able to create lists on your website, or it should be already be integrated with buyers lists. They can then sign up to your list as necessary.

The ability to create squeeze pages or landing pages that ask for contact information before they can view the properties is an added advantage.

Alternatively, they have to provide their contact information before they can view full property details.

2) Advertise your properties
No matter which method you use to advertise the properties you have for sale, you must provide your web address prominently. A phone number is good, but it will not collect a buyers list for you.

Your real estate investor website does this for you. Whether you advertise through bandit signs, radio, newspapers, Craigslist, etc, you must provide your website address.

The first buyers list that I built was through advertising in our local newspaper, Dallas Morning News. I provided my website address instead of a phone number.

They had to provide their contact information before accessing full details. From this ad, I ended up building a list of about 200 buyers. These buyers used to buy every wholesale deal I found. In most cases I had a buyer the same day is sent out an email for a wholesale deal.

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