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Marketing yourself can be difficult.
You have to find a way to talk about yourself and still be able to look yourself in the mirror the next day.
As a representative of Cole Realty Resource, I’ve noticed successful investors and real estate agents identify or present themselves in one of three personas. Last week, we talked about the visionary identity. Today, we’re going to talk about another one of the three marketing identities that can help you build a framework for how you market yourself.
Identity: The Helper
How does The Helper market to a seller in a way that earns their trust and their business?
Simple—they become helpful to the seller.
Yes, just like all investors, The Helper is benefitting from the transaction, but that doesn’t mean that they can’t help the seller along the way.
You might be The Helper if your favorite transactions are the ones where you connect with the seller’s story and are grateful to provide relief to their situation. Maybe death, divorce, or illness put the seller in the tight spot, but your investment gave them the cash or debt relief necessary to better their situation.
So, if you think you fit The Helper identity, how do you market yourself?
1. Tell, don’t sell.
If you tell the seller the benefits of a cash purchase and how your purchase will help them specifically, the option of putting their property on the market will seem less appealing.
Many homeowners have never considered cash purchases since most of them bought through a mortgage transaction. A little no-pressure education can go a long way to swing things in your favor.
Instead of dropping a postcard in the mail with your smiling face or hoping they’ll see your lawn sign, use tools such as Cole Realty Resource to get real cell phone numbers and email addresses so you can have a real conversations with homeowners who need your help.
2. Provide solutions.
Some people put their homes on the market without realizing the extent of work needed on property before they can close a purchase transaction with a buyer who has a mortgage lender.
Conventional, FHA, and VA loans all carry different rules and regulations in regard to the state of the home that is being financed. Some of the rules are simple, cheap fixes such as plugging in a few carbon monoxide detectors. Others can be more tricky and costly, such as the requirement of a working dishwasher or leveling steps and sidewalks.
And those are just requirements of the lender. Let’s not forget about the stipulations that the buyer might include as part of the transaction agreement. Countless deals fall apart in the wake of an unfortunate home inspection or an unexpected appraisal, and the seller is often left to clean up the mess.
Your cash offer can provide a solution for sellers whose properties won’t get approved by lenders but also don’t have the resources to make repairs.
Similarly, your offer might be the best option for someone whose deal fell apart in appraisal.
Show them that during the cash purchase, there will be no lender requirements, appraisers, or costly repairs necessary to complete the sale.
When you present the seller with a solution to their woes, you become helpful in a tough situation.
3. Make it about them.
Often, sellers who are most open to cash offers are those who have a problem dealing with the property.
They’ve moved out of state but need to deal with mom and dad’s house back home. Or they tried keeping a house as a rental property, but the latest tenants wrecked the place, and they just want to get out of the business.
Also, there’s the homeowner whose insurance won’t cover the new roof, new furnace, and/or new HVAC system needed.
Offer them a sale that doesn’t include dozens of potential buyer walkthroughs, something that can be wrapped up quickly before they have to return home or alleviates a burden that seems too big to bear.
When you lead with helpfulness, listening to and being empathetic toward their situation, you don’t have to try as hard to convince them to work with you.
As The Helper, you can help them out of the hassle of dealing with picky lenders, drawn out listings, or overwhelming repairs.
You still benefit from the investment of these types of properties, but you can do so by providing a helpful service to those sellers who would benefit from an all-cash purchase.
When you ask someone how you can help, sometimes the marketing takes care of itself.
Cole Realty Resource has a 70-year history of providing contact information (including cell phones and emails) for a specific property or entire neighborhood, which means more meaningful conversations about buying and selling real estate. Because of your relationship with BiggerPockets, you can now get access to unlimited home phones, cell phones and emails—all tied to a specific address and all at a discounted rate. To start getting contact info within minutes, click here.
Have you been able to find properties while helping people out of hard situations?
Share your stories below!