Hoe Moguls, Doug Van Buskirk here…
Most real estate investors have a problem. Tell me if you can relate…
You pony up the money for a multi-step Yellow Letter campaign going out to owners of high-equity second homes, fishing for a motivated seller.
You eagerly await the first round of letters to drop, until the day finally comes. And “wa-la,” the calls start coming in. You stay busy all afternoon and evening, keeping up with the calls. And after 1,000 letters mailed and a few days of catching up with all the people who called in, you’re left with…
Nothing.
Yes, they’re interested in selling, but no, they aren’t interested in “giving it away.” And unfortunately, that’s kind of what you need – a house at 65% of ARV minus repairs.
So, now you’ve got a pile of leads from people wanting to sell their house, but who
-
aren’t in a big hurry, and
-
want to get as much as they can for it.
If only you could turn these into something valuable…
Now it’s time to ask yourself an important, entrepreneurial question…
To whom WOULD these leads be valuable?
You can forge great connections by bringing value to the table first, without the immediate demand of reciprocation or exchange.
Sellers who want fair market value and aren’t in a hurry to sell their home sound like a great fit for a traditional Realtor. Now it’s time to build a strategic connection that will benefit you and your yet-to-be-established agent partner.
So your mission here is to find a Realtor to connect with. Now, I’m not talking about just any Realtor. We’re NOT looking for your typical part-time, closing-one-deal-per-month Realtor.
No, you’re looking for a hustler! Someone with an insatiable thirst for getting after it and making deals happen. A mover and shaker who will follow up and provide tremendous value to your leads.
The first reason for this should be obvious…
You’re going to pass this guy or gal the leads you can’t use, with the understanding that it’s a two-way street. If they comes across leads who don’t want to wait for a traditional sale, they get thrown your way.
So you want to partner up with someone who has a lot of leads come their way. That way, you have better of odds of getting a deal or two a month from them. A relationship with the right Realtor can also be hugely important in terms of connections and market insight.
If they are really active in your market, they may be able to connect you with buyers for your other wholesale deals. Or, they may want the deal for themselves.
Hopefully you see that the opportunity is as great as your creativity. Just remember that a strong Realtor relationship doesn’t have to be based on listing your properties with them.
And, this is all, of course, assuming that you yourself don’t have your real estate license.
Now the second important point to consider is this…
When you connect these seller leads from your marketing to a professional who can help them sell their house, you position yourself as an industry expert. After all, you’re clearly someone who’s willing to bend over backwards to serve your clients’ best interest.
You’re someone they can trust.
Next time someone they know is having trouble making payments or looking to dump a problem property, who do you think will get the referral? You or an anonymous “We Buy Houses” sign on the side of the road? Odds are, you will.
By simply connecting two people, you build strong relational capital that can be useful in many different ways. Heck, this could be a pretty good way to get some private money lender leads in the sellers who you referred out and helped get their house sold.
I’m always reminding myself that: You never know who they are or who they know!
That’s right – you don’t know who’s got money in the bank or under a mattress but doesn’t ‘look’ like they do. You don’t know who’s well-connected but doesn’t talk about it. Not at first glance, at least.
So, if you build your business on treating people right and flooding the marketplace with value, the money and opportunities will follow.
I’m certain that by following this advice, you will separate yourself from the 98% of investors who try to do it all on their own.
Good luck!
Wanna make your own connections?
Got any questions about making those important connections? Ask me in the comments section below.
Find a Realtor who meets the necessary qualifications for your purposes through referrals or hop on Zillow and find someone who’s got a ton of reviews and past sales on their agent profile.
Establish your marketing plan.
Outline your plan with your Realtor while at lunch or coffee and lay out your vision for the relationship. Get confirmation that you’re both on the same page.
Acquire leads through your marketing plan to pass on to that Realtor, so you can deliver on your end of the bargain and show that you’re a strong strategic partner.
Deliver the goods and demonstrate your value by passing leads to your Realtor.
Get creative in thinking about how to maximize your new strategic partnership.
Doug Van Buskirk
has always been fascinated with patterns in how people behave. He's used that passion to put a spotlight on the intersection of real estate and psychology, applying that science to networking, negotiation, and marketing. Doug's been investing for a little over 2 years, specializing in single-family wholesaling and mobile homes. In that time, he's also built an online marketing company and real estate coaching program. Doug first achieved his financial freedom at age 25, going from never having done a deal to replacing his 9-5 income with cash flow from income properties in just under 6 months. He lives in Charleston, SC with his fiancé Jen and Lhasa Apso dog, Amber.