Marketing for motivated sellers.

15 Replies

I am beginning to dig in more into wholesaling. I was wondering what are the best ways to market to find motivated sellers? Any suggestions would help. Thanks :)

I am not in California, but the typical beginner strategy I recommend is Direct Mail focusing on Pre-Foreclosure, Absentee Owners, and Code Violations. I think California foreclosure is on a 21day notice, so you may wait to do pre-foreclosures until you build a pretty decent buyers list, otherwise you may be pulling your hair out trying to find buyers at the last possible moment as they always call the the second before it's too late. 

Limit your spending by focusing on areas with price points that are easy to sell. Join your local club and ask what investors are looking for (Area, Price Range, Type, Acreage) then focus on the areas that have the most common demographic based on the investor's input.  

Good Luck!

@Jerry Puckett  has an excellent system and may be something you want to look into if you haven't already.

Not sure about being the "best" but here are some options:

Creating motivated seller list:

- Probate Cases

- Code Violations (your city's code enforcement office should be able to provide a list)

- Absentee/out of state owner (use listsource)

Marketing to your list:

- Postcards (use click2mail)

- Yellow letters (yellowletters.com or handwritten)

These are just a few - many other things you can do. Just be careful with things like bandit signs - make sure it's legal in your area.

mail directly to the home owner. That is the most effective.

The 3 dependable workhorses are direct mail, pay-per-click (PPC), and billboards.  (I leave out bandit signs because they are illegal in most urban/suburban markets in the U.S.)

Within direct mail, the top group to target is absentees with high equity.

PPC is mostly focused on Google, but you can often get less expensive clicks from Bing because there is less competition there.

Billboards used to be out of reach of most individual investors in larger markets (e.g., $5,000 to $30,000 per month per board).  Now, with electronic billboards, you can buy the number of billboard impressions that fits your budget.  And in smaller markets, you can still get a reasonable price on old-school billboards (e.g., $500-800 per month per board).

The WORST investments for RE investors are (1) radio and (2) TV.  Super expensive and they don't drive inbound leads as much as you think they would....  And I'm less than impressed with social media such as Facebook and YouTube - they have not been good producers in our trials.

@Dev Horn  For me the key to BBds is making sure they are on a 30 day location rotation. 12 boards moving around town every months makes it appear as if they are everywhere. 

As for TV. My 30 minute infomercial works well. I sliced the commercials out of it so there is a reference back to the infomercial. And I only run it on channels between the majors. ABC NBC FOX and CBS. Also I run at 5:30 to 6:30 M-F... I am wanting news channel surfers. 

Hi Allen,

One of the best ways to find motivated sellers is through direct mail marketing.  Motivated sellers are everywhere but the trick is to connect with them personally. What type of marketing tools are of interest to you?  Everything works, but the consistency and ability to stick to a plan/method long enough to get results is key. 

Generally, you can motivated sellers by find a targeted list of property owners. To reiterate, we’re not looking for just ANY property owners. We’re looking for people who are statistically more likely to sell their property.

OR

Try to:

  • Place a newspaper ad (major daily)
  • Bandit signs
  • Drive neighborhoods looking for vacant houses and FSBOs
  • Call FSBO ads
  • Search MLS for junker properties
  • Search MLS for expired listings
  • Contact landlords who are evicting a tenant
  • Contact landlords with properties for rent
  • Pre-foreclosures
  • Foreclosure auctions
  • REO's
  • HUD & VA houses
  • Tax sales
  • Estate sales
  • Properties with outstanding building code violations
  • Properties with outstanding health code violations
  • Condemned properties
  • Fire damaged properties
  • Out-of-town owners
  • Network with professionals, i.e. attorney, CPA, REALTOR?.
  • Network with service people, i.e. letter carrier, pool service person, lawn service person, newspaper delivery person, carpet cleaning people, plumbers, etc.
  • Bird dogs
  • Wholesalers
  • Magnetic car sign
  • Distribute business cards EVERYWHERE
  • Fliers
  • Door hangers
Originally posted by @Dev Horn :

The 3 dependable workhorses are direct mail, pay-per-click (PPC), and billboards.  (I leave out bandit signs because they are illegal in most urban/suburban markets in the U.S.)

Within direct mail, the top group to target is absentees with high equity.

PPC is mostly focused on Google, but you can often get less expensive clicks from Bing because there is less competition there.

Billboards used to be out of reach of most individual investors in larger markets (e.g., $5,000 to $30,000 per month per board).  Now, with electronic billboards, you can buy the number of billboard impressions that fits your budget.  And in smaller markets, you can still get a reasonable price on old-school billboards (e.g., $500-800 per month per board).

The WORST investments for RE investors are (1) radio and (2) TV.  Super expensive and they don't drive inbound leads as much as you think they would....  And I'm less than impressed with social media such as Facebook and YouTube - they have not been good producers in our trials.

 Hi Dev, have you done billboard advertising? For how long? Are you still doing it? What is the cost per closed lead through a billboard advertising? I just did a radio campaign for 3 weeks on WCCO in MN, spent 3.5k got 3 week leads that go to trash.

In your opinion, what are the 3 best that work for you? For me #1. Our site (comes on 1st page of Google search in MN. #2 Bandit signs, #3 Letters to expired listings

We have several people using billboards, especially in markets where they are not very expensive - such as West Virginia, North Carolina, and Alabama.  I can't speak to cost per call from these as it varies by location and a lot of factors.  But billboards WORK.  Here's an example of one of ours - hopefully "moderator-friendly" as I blocked out our brand and phone number:

Most success with the following:

Online:

SEO: A lot of keywords on various sites or mediums. 

PPC: long tail keywords

Social Media: Re-targeting old site visitors. 

Mail drop: every 6 times every 6 weeks. short yl, long yl, professional letter, postcard, short yl, professional letters

Probate, evictions, vacants, 2 or more years late on taxes.. and a few other list.

Employing online marketing strategies is a good mix with any marketing campaign. Social media is a must. 

Really, just consistency. Also, don't feel like you're failing when you hear about some other person that is generating all these amazing leads from direct marketing. Stay on your own path to success & eventually you'll get there. All these "millionaire investors" started by hand writing mailing addresses and door knocking...

Don't get confused with multiple options rather than go for direct interaction with target audience. It will surely gonna help you.

Find Motivated Sellers Network Question

What is the cost for mailing postcard using their system? All cost associated please

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