relationship with buyers

so i've got a considerable amount of buyers on my buyers list over 243 to be exact,i was wondering is it best to have a relationship with them like a friendship type of thing,or what?when i get a deal is it also good to call them instead of blasting out emails to all?really interested in how you guys do this

Edited: 06/26/2010 at 10:56AM

Thomas Loughran

General Contractor · Meridian, Idaho

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Dec 23 '09, 02:19 AM

Hi Stephen, how are you? Would you like to share how you got 243 buyers on your list? I would have to think it would be hard to be friends with 243 people, I plan on just blasting my list and call the ones that have said that they only want to be called, and as time moves forward build my relationships with the ones I am doing business with. So it's like cutting grass you will cut the top layer off and the rest will grow roots with you.
Thomas

Edited: 06/26/2010 at 10:57AM

Stephen Moore

Real Estate Investor · america

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Dec 23 '09, 03:13 AM

i got all those buyers from various ways..some off of craigslist,calling for rent signs,rotary clubs,facebook,myspace,real estate meetings for investors,and from wholesalers that dont protect their buyers list when they email me properties to be sold....this has taken place over a period of time

Edited: 06/26/2010 at 10:57AM

Ryan Webber

Wholesaler · Amarillo, Texas

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Dec 23 '09, 03:35 AM

Initially blasting them all on email maybe your best bet.

As you develop your business and figure who are really serious players then I would recommend you call them first and then blast the rest with email.

The thing is that there will only be a handful of people you will work with even if you have 243 people on your list. Those 10-20 investors are key to your wholesaling business, and its important to build relationships with those people. When you make a direct phone call to a serious investor, I think it goes a long way to building a solid relationship. If they are serious investors I will usually give them a certain short period of time (maybe a day at the most) before I blast it out to everyone. I also use that as leverage to get an answer quickly.

Friendships? Not necessarily. This is a business and friendship isn't your goal. A trust based business relationship is what you are shooting for. Now you will probably meet some people you can really relate to and friendships may develop, but I would never recommend trying to set up pseudo-friendships for the sake of the deal.

Edited: 06/26/2010 at 10:57AM

Stephen Moore

Real Estate Investor · america

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Dec 23 '09, 03:45 AM

thanks very much ryan,and in response to all those buyers,some are from different markets,some are multifamily investors,some mobile home investors and so on and so forth

Edited: 06/26/2010 at 10:57AM

Brian Haskins

Real Estate Coach · St. Louis, Missouri

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Dec 27 '09, 11:19 PM

The better relationship with your buyers the better off you will be. You can have just a few serious buyers that you have a great relationship with and know exactly what they want and find those types of houses for them. That's the best way to do it in my opinion. A big buyers list is nice but not necessary.

Brian Haskins

Edited: 06/26/2010 at 10:59AM

Gregory Harris

Real Estate Investor · Chanute, Kansas

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Dec 30 '09, 02:59 AM

When you find properties that are more your homerun deals those are the ones you need the bigger buyers list with. People who buy on a regular basis sometimes scoff at the larger than normal assignment fees. For your average deals though establish that quality relationship with your best buyers.

Edited: 06/26/2010 at 11:01AM

Matt Mathews

Real Estate Consultant · yucaipa, California

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Dec 30 '09, 03:48 AM

I'm with Brian on this one. Qualify a few worthy Investor Buyers via a Valuation Profile as to their individual needs. Then verify the information they give you. Bank accts, etc. Once you do that you will probably find that your 243 is more like 3. Cash is King in this market. If they can't verify the $$ find one who can.

Edited: 06/26/2010 at 11:02AM

Jeff and Cheray Warner

Real Estate Investor · Grants Pass, Oregon

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Dec 30 '09, 05:48 AM

Making 243 phone calls would be a little much, in that case emailing to your list would be the best route.

I agree with the other posters about quality over quantity. I'd rather have 10 buyers on a list that I have built up rapport with then 243 who most likely don't remember who the heck I am. Since you already have that list it will be pretty simple to blast your listings to them...more then likely you'll only hear back from 3% or so of that list, those are guys to build rapport with. As time goes on you'll more then likely shrink that list down and eliminate the tire kickers. Best of luck.

Jeff

Edited: 06/26/2010 at 11:02AM