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As real estate investor, you are involved with buying and selling property. Although you might be more interested in one particular market segment, it is imperative to have a strong buyers/sellers list. Without this, doing your job would be difficult, if not impossible.
More than likely, you have been told repeatedly throughout your career just how important it is to have a solid pool of buyers ready to purchase if you want to sell a property. The same is true for sellers in that as you take on more properties to sell, you have people to contact. While everyone professional has a unique method of keeping track of buyers and sellers, what you want to focus on is having an accessible system that is organized and easy to manage.
Building a Strong List
In simple terms, a buyers/sellers list consists of people who are past clients or those currently in the market to purchase or sell a property. This list remains active, which is what makes it effective. For example, if you list a $1 million home you should be able to turn to your list at any time and find multiple names of viable buyers.
To build a strong list of potential buyers and sellers, you have a number of options.
Opt-In / Call to Action – On your real estate website, you can have buyers and sellers opt-in so they agree to be contacted, receive newsletters and other information, and so on. The same can be accomplished through a ‘call to action’ on your website.
Signs – You can also use a bit of old-fashioned marketing by using signs in yards, windows, on your vehicle, and more. The goal is to let the public know that you buy and sell homes. As part of this, be sure to provide a phone number or an email address so interested parties can contact you.
Networking – The great thing about networking is that it can be done in person or online. By networking, you have the opportunity to share information, ideas, and even names with other professionals in the business. The more you network with other investors, as well as real estate agents, the better.
Direct Mail / Email – For whatever reason, some real estate investors feel that both direct mail and email marketing are dead. In reality, both of these strategies are very much alive and they work great. However, for building a strong buyer/sellers list, you want to make sure that you target people genuinely interested in buying or selling.
Online Exposure – In addition to your professional website, consider using other online resources such as Craig’s List.