BiggerPockets

Hello BP members!

I work with a real estate investment firm here in Memphis, and I am also a licensed Realtor. I have no problem finding deals, however right now I am finding it hard to find QUALIFIED buyers.
It seems like the people who are absolutely starving to purchase, are not able to.

What are some tips for building a strong and/or large buyer's list? I would really appreciate ANY tips I can get! I am even open to working with a third party who has leads and charges a fee.

Thank you :D

Hey Marcus! Thank for the advice! We do have a website and I am in the process of creating my own personal website as well. I am getting a lot of response, but again it is mostly people who cannot buy (they say things like "I have bad credit and no money!) or people who are not interested now and are just 'kicking the tires'. I'm working on really ramping up my marketing efforts on a personal level

That is great advice! Thank you. What market do you work in? I visited you page and saw that you work wholesales and short sales in FLA -how is that treating you?

Shawday,

I am located in a small town in central Florida. That is the market that I personally focus on. We have seen a change in the market here and are adjusting our business accordingly. In a nutshell- where wholesaling was profitable, we now are utilizing a "new" strategy. And yes, I focus our marketing on preforclosures. I really enjoy performing short sales.

We also provide services to other investors in the short sale arena. This has always been fun. And now, due solely to this site (BiggerPockets), we are seeing a boost on this side of our business.

The best advice I could ever give you or any other investor for that fact is:
1) Spend time on this site.
2) Ask questiions, gather the answers, and apply them where needed.
3) Get involved on here! Without a doubt, you will see the positive effects from this community.

I hope this has helped.

Shawday

I would take the suggestion made by a few of the other posters. Start a program for those who want to buy and can be salvaged.

Be sure to retain control of these people by charging for your help and refunding when they buy so your not getting them qualified and watching them do business elsewhere because an agent at a open house said there were 1000 people interested in the property and if they wanted a chance at it they had to make an offer this minute. And thanks to you they were quialified..

One agent I know of used a 2 year exclusive buyer agency agreement to do that.along with following the program.

Don't know your area but the old fashion open house still brings in a buyer prospect or two. if your looking for retail buyers..

Now for a pet peeve, agents that say I'm a licensed Realtor, no such thing as a unlicensed Realtor and it is redundant. You can't be a Realtor without being licensed, and the NAR doesn't issue licenses. Just say your a Realtor period.

Drive a 10 block radius in each direction of your property. Look for any "For Rent" signs and call them to see if they are interested in purchasing your property. This is also a great way to get "real" rents and property values for that area. Also, get a section 8 list and call the section 8 landlords. Last but not least. Bandit signs are still a great way to get the phone ringing.

Shawday,

If you're not already familiar with creative financing techniques, then get familiar with them. You'll find that the more comfortable that you are with them, then the more you'll be able to work with some of those buyers with less than perfect credit.

Sorry for the late responses! I was traveling to see my family!

hakchinoy : Very good point! I am familiar with many creative techniques (my husband is MUCH more familiar than I) - but it is a good reminder to keep educating myself on that front- thank you! Do you read up on techniques online or do you have books you prefer?

jawsette: That is a FANTASTIC idea! Thank you so much!