Well I’m a little late to the party but something I do is let the tenants within a certain distance know, they have sort of adopted the area and might have some bucks and have been paying monthly in the range they will need to buy. One I had a few years ago had a classic car in his garage but was telling me they had no money for an option, oh yes they did and the wife said yes a home of our own is a better investment then your car, one sad husband.
Your post is what we call ‘trolling’
If you mention monthly payment and option requirement on high end homes, that drops response rate by 75%… so should we keep that in our recording or not?
It is difficult to find good lease to own tenants and most of them do not really know what it means. The best thing to do is buy a bunch of signs, advertise on Craigslist, and just put your name out everywhere. There is no list who will tell you who is interested in lease to own and the tenants that I have spoken to know it by “rent to own” instead.
If you are allowed to in your town, put all around town your signs in big red letters, “rent to own” and “lease to own”. Get an easy phone number, too. It is great for the signs.
Who told you not to mention this? Just curious.
It is up to you if you want to mention the amount on high end homes. It is a catch 22, you get more replies if you do not mention the amount but you have a better screened reply if you do mention the amount.
If you are a great salesman on the phone, go for the first option.
I prefer to mention the amount so that it helps screen the clients who cannot afford the property.
Javipa, I DO put price and option amount in my voice mail recording.
What I noticed though is that, if I don’t mention the option amount, and just ask them to tell me how much they have available (Todd?), i get about 60 to 70% more responses. If I do mention 10k option fee, the people who end up leaving a message is about 1 in 10, roughly.
Now I am just thinking, should I just leave out the option fee, and get EVERYONE there, regardless if they qualify or not, just to create competition for the one or two who do have money?
That makes sense.
Leaving out critical information is the way the agents get their phones to ring.
I think Ron Le Grand teaches that. I forgot that Todd Toback teaches that. I know Todd doesn’t take buyer’s phone calls directly. He puts them to an outgoing message and voice mail capture, and somewhere along the line, he asks how much money they’ve got to put down. He calls the ones back with the most money first, and then works himself down the food chain until he gets a tenant/buyer.
Ron Le Grand’s the one that asks, “Is that all you’ve got?” regardless of what they tell him. I love that particular approach…! :biggrin
The cattle call is just the best way I’ve learned to create competition, or a “bidding frenzie.” The “frenzie,” of course, assumes there is a bargain being offered.
Good post.
A few years ago I had a house that I had taken sub2 and was selling with a L/O. I ran ads in the newspaper for at least a month and could not get any action. I also had a sign in the yard. Then, I listened to something from Ron LeGrand, I think it was in his gorilla marketing course, where he said you need to make it look like the circus came to town. I then put hand-made bandit signs all over the place (“Rent to own”). I put up probably 10 signs directing people to the house from different directions. Within 2 weeks I had a good tenant/buyer in the house. I have used this approach multiple times since, and always have a house filled within just a few weeks, even when the house is less than perfect.
I had a house in a rural area, that unfortunately my wife would not let us move into. (I still regret not moving!) Thinking of the circus mentality, I took a full sheet of plywood, painted it RED and with white letters I put my words up. Simple sign, but got attention. The house sold to a retail buyer.
So, just make it look like the circus came to town! Do so much that you are embarrassed. Balloons? Heck yeah! EVERY TIME I can hear in my head Ron’s words "make it look like the circus came to town!.
BTW - If you have a great location that you want to put up a directional sign, but it is in someone’s front yard, just knock on the door and offer them a gift card to a local restaurant or movie theater if they will let you put the sign up for a few weeks. Works almost every time!
Hey
That is one solid advice!! Great suggestion! I am going to do that. Thanks man!! Much appreciated!!