Hey investors, Jamel Gibbs here with a few tips on how to get motivated sellers to take the bait from your ad promotions, and keep your phones ringing.
But first, it’s been a minute since my last lesson, so I’d like to remind you why I’m a Mogul Faculty Advisor. Well, I’m a successful real estate investor, marketer, serial entrepreneur, speaker, author and mentor. I own a real estate investing company as well as a real estate investment education firm and publishing company that teaches clients how to build successful real estate investing businesses. I love that I’m able to coach and consult people all across the country to help them achieve financial freedom through REI. In fact, make sure you check out these other great lessons I’ve done, which are full of helpful REI info.
In today’s lesson, I am going to outline 5 must-have messages that you need to use in all your marketing strategies. These 5 key points appeal directly to motivated sellers, no matter if it’s through direct mail, yellow letters or whatever kinds of marketing campaign you use.
At the end of the day, if your phone is not ringing then you're not in business. The object of your marketing is to keep those phones ringing. If you’re struggling to attract motivated sellers in your real estate investing business, your marketing message could be the problem. Attracting motivated sellers can mean the difference between making money in your business or not.
You must give motivated sellers a compelling reason to call you. Let’s take a look at these 5 key points that can do exactly that:
1. Pay Cash
Put yourself in the motivated seller’s position: You have a house you want to get out of, but you’re strapped for cash. Will you be looking for the buyer who can go out and get a mortgage? Or will you look for the buyer who can pay cash for the property? That’s the seller’s position at this point.
In the back of the seller’s mind, they are saying to themselves: “If he can pay cash, then I can get my money quicker.” They want to move their property as fast as possible and cash is king. They’ll be happy to work with the buyer who can pay cash for their property.
So that’s the very first message that you will implement into your marketing message – you can, and will, pay cash for their property.
2. Close Quick
This motivated seller is in a great deal of pain at this point, and you have the pain reliever they are looking for. The second thing they want to know is that you can close quickly.
Again, remember that this seller is motivated and they want to get out of this situation as fast as possible. So the faster you can close, the faster you'll be able to get them out of their situation and put cash in your pocket.
You're going to let the motivated seller know that you can close quickly on their property, AND you can pay cash.
3. No Closing Costs
The third thing you want to convey to this cash-strapped, motivated seller is that you will pay all the closing costs. Keep in mind, these sellers are motivated for a reason. They have no cash to bring to the closing table in order to sell their property. They want this property to just go away.
This is why they’re willing to sell it to you at a discount – which allows you to get a good deal.
That’s why this key point is so crucial. You let the seller know you can pay their closing costs, which means they can walk away from their problem and allow you to take over their problem. And you can put cash in your pocket.
Notice I keep saying problem… They have a problem; you're going to solve their problem; and on top of that you're going to be able to put cash in your pocket for solving their problem. You're a real estate problem solver and you're going to solve your motivated seller’s problem. It’s really a win-win for everyone.
4. No Realtor Fees
Not having to pay closing costs will obviously excite the seller, but when they realize there will also be no Realtor fees, it may seem almost too good to be true. You'll let them know that they don't have to pay 6%, or any type of Realtor fees, to sell their property.
You explain you're not a Realtor; you're simply the buyer of their property. You will also let them know they don't have to list their property.
This doesn’t take anything away from Realtors (I used to be a real estate broker myself), but these sellers are motivated and they have no desire to list their property and have it sit on the market for two or three months in order to find a buyer. You’ll let them know that you’re the buyer and they don't have to pay the Realtor fees.
Each of these points plays into their motivation level.
5. Buy As-Is
The last, and perhaps the most important key point, is that you will buy their house in its present condition. This final point that you add to your marketing message lets sellers know that you can buy the house as is.
Again, they're motivated for a reason; they don't have the capital to put into the house to get it up to better standards so that they can get top dollar for it. If they did, they wouldn't be contacting you. So you want to let them know that they don't have to do anything to the property. Not one single thing.
You're going to buy the house as is, and because of that, they're going to sell it to you for a deep discount or on some really good terms.
Check List
There you have it – 5 easy buttons to attract more motivated sellers to your business. Take care to incorporate all 5 key points:
-
Pay Cash
-
Close Quick
-
No Closing Costs
-
No Realtor Fees
-
Buy “As-Is”
This will equip you to get more deals than any other real estate investor in your area. Use all 5 in every single marketing piece that you send out. You will drive motivated seller leads into your business, which will ultimately allow you to increase your bottom line.
Got Another Easy Button?
Do you have yet another marketing tip for motivated sellers? Tell me about it in the comments section below.
Review all of your advertising and marketing materials
Check to see if you are emphasizing one of these 5 points, but downplaying one or two others
Take the steps to correct this situation – edit to ensure all 5 points are equally emphasized in all your marketing campaigns