Build & Qualify Your Buyers List For Real Estate Wholesaling
“The Money is in the List.”
We hear this about online marketing and real estate too. It is not hard to find a property to wholesale, there is plenty of inventory of distressed properties (see the Blog Post about The 20 Best Ways to Find Motivated Sellers.) However building a responsive, “willing and able” list of buyers is where the challenge is.
Reverse approach – this is what I have been preaching lately. Basically you find the potential buyers first, qualify them, survey them, find out what they are looking for, then, and only then, you look for properties to sell to them.
It really does come down to having a lot of names or emails in your buyers’ list – the importance is on how many of these names are actually “willing and ready” buyers.
I would like to share a few tips on building a buyers list:
1. Easiest and most successful ways to start collecting names for a buyers list:
a) Internet – a one-page website (squeeze page) with an optin box;
b) Bandit Signs – handwritten placed in strategic locations, like intersections or home improvement stores;
c) Classified – Online (like Craigslist) and Offline (Local Paper)
2. Qualify your list:
a) Send out surveys every couple of months and ask what properties they are looking for, which areas and price range;
b) Send out an email or newsletter often, possibly once a week, with updates on available properties and other relevant information;
c) Call the most responsive buyers (you can see it from the survey) and talk to them, invite them for coffee, become their favorite wholesaler.
Finding names for a buyers list is not the hard part – the true test is educating these buyers to become investors, your investors, and build a business relationship that can be beneficial for both parties.
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