I find it amazing that more Real Estate Investors are not aware of the benefits of working with First Time Home Buyers. As a successfully investor my goal has always been to find and educate the newcomer or “newbie” to the wealth of benefits that are available to home owners. Of course, the question that usually originates for most investors is “How do we make contact with the neophyte buyer? The answer comes in many forms. Communications sent through emails to friends, associates, and family members is a great way to get the word out that homes are for sale. As a salesman there is a quote I live by “You can be a secret agent and still be profitable in this business”.
There is also an old elevator pitch or speech used in the industry and it goes something like this; when someone comes within 3-5 feet of you let him or her know what it is that you do. So start practicing; develop a simple and short pitch about the benefits of home ownership. The time is right for those who want to purchase there first home. With your expertise and guidance you can make purchasing a first home a great and satisfying experience.
When I started in real estate I had no exit strategy. I just hoped for the best. Well, that was in the past. I learned very quickly to take the bull by the horns and do whatever was necessary to market my properties. That meant going to schools (teachers make great first time buyers), Police Stations, hospitals, Community and Public Service Buildings, you get the drift. I went anywhere I could to find gainfully employed people making certain that the word was out. Always, leave the message. Develop a simple informative flyer. The flyer should provide a description of the property and location. Keep the flyers with you at all times. Distribute as many as humanly possible!
Everything we have talked about thus far is the more antiquated way of finding buyers. I like to call it Real Estate 1.0. Let us update our process and move to Real Estate 2.0 which includes the World Wide Web. This wonderful tool can allow the spread of information over the internet through an easy to use flexible format. You can start a blog (short for weblog) this type of website can be designed with regular commentary inclusive of the entire purchasing procedure along with the acquisition of the property and negotiations with contractors.
If you really want to get creative, get interactive. Design text, images, videos and other multimedia which can be linked to other blogs for related information on home purchasing. Request color suggestions. All of this can be done in most cases free of charge. In addition to the blog join the craze of social media – Face book, Twitter, My Space which are all great networking sites to utilize and share information and promote the availability of your property. If that isn’t enough you can use free sites like Craigslist, Kijiji.com, Backpage, Oodie, and Google base search engines to market your properties.
Because of today’s economic market buyers may not be as readily available as they once were. You must be the catalyst and make it happen. What are you willing to do to be successful? Are you willing to do what it takes? Understand that there is a lot of competition out in the market place but you must be aggressive. Think out of the box, make that sell! You have the ability in one transaction to equal the medium income of a family of four in the Michigan area. There is no doubt in my mind, that if you wish to find a buyer badly enough you will make it happen. Take the “Not until I Do” attitude and you will soon reap the rewards.
Remember I am here to provide guidance on the processes and joys of home purchasing. I am also here to help you develop a comprehensive marketing strategy which will not only sell your current inventory but supply you with a waiting list of future home buyers.
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