Article 2 in a series
For any wholesaler, the only thing better than finding a great deal is selling it. Unfortunately for many wholesalers, even when they have a great deal, they’re unable to get it sold because they don’t have a process in place. If you really want deals to fly off the market rapidly, then utilize the internet.
Of course, it goes without saying that you have to start with a good deal – a profitable one for your buyer. You can’t expect to start with a dog deal and have buyers line up to buy regardless of what marketing tactics you do short of maybe misrepresenting the deal. Even then, you won’t be in business for long.
Next you need an active list that knows you. Don’t make the mistake of thinking that you need thousands of people on your list before deals will sell quickly. You just need some bona-fide buyers with whom you have built some trust and rapport. We discussed how to do that with auto-responders in the last article.
With that in place, it is time to market your deals. My philosophy is to give buyers all of the information they need right in the marketing piece so they can make a buying decision right from their desk!
That doesn’t mean they will. They will still verify your information. But here is what I want buyers to say:
Hold the presses!!! If everything Lou’s is saying here in his marketing is accurate,
then I need to jump on this deal right now!!
Think about this…how many times have you received a flyer or other marketing piece from a wholesaler, and all it tells you is the After Repair Value (ARV) ; their estimate of repairs; your Gross Profit; and Your Price? If you’re lucky they’ll remember to give you the address. There are no details and no supporting documentation. It’s hard to make any judgment at all. They expect you to do the work to see if it truly is a good deal.
Where do most of those marketing pieces wind up? In someone’s Trash.
If you want to sell your deals fast – give your buyers as much information as possible. And just like the old proverb says: A picture is worth a 1000 words. Create a deal sales web page – a page of your website that is dedicated to just the one deal.
Provide all of the pertinent financial data supported by pictures of the house – inside and out – and pictures of all of the comparable sales/rental houses used in your analysis. Tell your potential buyers how to get to the property; how to view the inside; and most importantly – how to make an offer on the property.
Market the deal to your list via a broadcast email through your auto-responder. The email should just pique their interest enough to click on the link provided that drives them to your sales page.
Here’s what will happen: as your list begins to see that you always provide good deals, and the information is easy to view, they will quickly respond to your emails. Deals will start to fly. The whole process intensifies as other buyers who were slower to respond discover that deals are sold quickly.
My wife has certain stores that when they have a sale, she wants to be the first one there; and when she finds something she likes she buys it right away. Why? Because she has learned that these stores turn over their merchandise rapidly and if you snooze you lose.
The same will happen with your list. They’ll learn to act quickly – and with full price offers. I have had buyers call me because they were really upset that they submitted several offers on different houses and I never counter-offered. I explained that they didn’t make a full price offer so I only negotiated with those that had.
Sarcastically they’ll ask: “So you’ll only entertain full price offers?” to which my response is “No, but if I already have several full price offers, I am of course going to start with those.” It is amazing how the next time those same buyers submit full price offers on the first day!
Utilize the internet to build your buyers list and to advertise your deals. You’ll be amazed at how quickly they sell.
In Part 3 of this series we’ll discuss other ways to money with the internet
Expect abundance
Lou Castillo
Click here to see previous article
