Put Together a Home Buyers List the Buyers First Way
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by: JackSternberg
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You'll remember when you first decided to start in real estate investment that you were probably instructed to do was formulate a buyers list. This was simply a list of names and contacts that are looking for certain properties. They told you "with a good buyers list you may never have to put a property on the open market."
The "Buyers First Program" was designed to take that a step further. Instead of taking the investor track by wholesaling with all the associated risks, I choose to retail MLS properties through Real Estate agents by developing a "retail, end buyers list". My system is fully RESPA compliant and is readily accepted by the traditional Real Estate community. Remember- Real Estate Agents only do things that are traditional and with full disclosure. When you deal in that arena, it has to be simple and fully compliant.
The buyers list should consist of people who are looking for a specific type of property. It may be someone who wants a 3 bedroom 2 bath house in the south part of town. There may be people on the list who are only looking for a certain kind of property at a set price.
Formulating a buyers list is not hard at all. One of the easiest ways it can be done is with a simple ad featuring a free report on "How to Buy a Home if you have Some Money and Even If You Have Bad Credit" or "The Six Things Every First Time Home Buyer Should Know." By running that type of ad in the local paper and directing callers to a toll free number you can find many interested people who are looking for properties. There may be many people who call and are just curious. The best way to deal with these people is to answer any and all questions. They may call back in a month or two and tell you they are still in the market for a home. Either way, your list is formulated by the contacts you make.
You can also gather names from family and friends. People know people. Google Ad Words is yet another proven, inexpensive way. By having a list, you can make groups and categorize the prospects.
You can then have a mortgage broker pre-qualify folks that are on the list. You may have names on the list of people who have run into a bit of bad luck and just need help getting started again. These are your perfect candidates.
Formulating a buyers list means you have a good start on a marketing plan of action. Every business has a client base. Think of your buyers list as your client base. The more you have, the more business you can do. The more you do, the more money you can make. By formulating a buyers list, you are building a strong, stable and long term real estate investment business
About the Author
Jack Sternberg is a nationally recognized expert on real estate investment who's been in the business for more than 30 years. Sternberg is the creator of the renowned "Buyers First" Program. His deals have totaled over $750 million and he's been to the closing table more than 1,500 times. For more, visit http://www.askjacksternberg.com
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