Curious if anyone is doing this type of marketing? From what i’ve read, the criteria is generally older folks (50+), high equity, long term ownership (10+ years). Really trying to target the empty nesters. Response rates are on the lower side, and frequency is less than a pre-forclosure/bankruptcy (maybe every 3 months over 18months).
My biggest question is once you get your message out to them, and get them on the phone, whats your value proposition? Obviously much different than contacting someone in pre-foreclosure/bankruptcy/divorce, whom you can offer a quick/fast/cash solution to.
Any feedback on this type of campaign would be appreciate!
I’ve always felt that if the seller is not motivated, it’s really hard to get a deal.
Are you just trying to find people who want to downsize? What other reasons would make them want to sell? Are you looking for them to carry financing? That might be an opportunity if they don’t need all of their equity, maybe they can sell it to you on good terms.
Those are the questions I’m really trying to get answered. These people are not in a serious situation, in which the home needs to be sold ASAP. I’m really trying to find how why these people would be motivated to sell to me rather than at retail levels.
If anyone is doing this type of marketing, i’d love to hear what your are hearing from potential leads… :beer
Here is the real deal with free and clear. We as investors like to buy equity. Now with the free and clear you are open to more options when buying a home. Sure its all in presentation. But would you pay full price if you got your terms?
I hope you would.
It is all in Sales. If they want to sell. If they want price. If they don’t need the money and can wait for it. You can make all kinds of offers.
How about a 100K home that you buy for 110K. Give them 10K now and 100K in 5 years. Not many would accept those offers. But if you are in a market in FL and the market just dropped 20% it may be appealing.
I’ve done a lot of campaigns that target specific zips and demographics. While the tactic may be deemed “fishing with a wide net”, it’s a very effective way to reach a target audience that has equity, and may consider taking a discounted price for their house, in exchage for a quick and hassle-free sale. Most people are surprised to discover this option.
My investor clients have had very successful results.