I am trying to get buyers for my list and put up a “ghost” ad on craigslist this morning very early . Got a response immediately and the guy wanted the address to run comps. I emailed him back that “one of my buyers wants it” but would you like to be on my buyers list. He responded back that he wanted to be on the list but still wanted the address in case my buyer backed out of the deal. Now I’m stuck and haven’t emailed back. He said he was a cash buyer but didn’t give any other criteria. What should I do? Thanks! :help :help
Tell him it was a marketing technique to locate buyers. Honesty is the best policy
I was wondering the same thing about ghost ads. I was not sure what to tell potential buyers when they contact me about the ad.
Honesty would be best, but…
(Dunno if I wanna answer this one, LOL. Don’t want to get a rep around here for being able to weave tall tales!)
Tell him you hire a firm to post for you, and that the listing in question got posted by mistake, it should have been removed. That the property has been sold already, but you have similar properties that he can look at.
All the best,
Thanks for the replies! I emailed him back and told him that it’s my policy to give first right of refusal to those on my buyers list and that I require a non-circ agreement be signed before release of the address. If he doesn’t respond oh well. Thanks!
“non-circ agreement be signed before release of the address.”
What does that mean??
Non-circumvent Some also use a non-competition agreement. It should safegaurd her from the event the potential buyer would try to exclude her from the purchase of this property. It should prevent the buyer from ever doing business with this source of properties without her being involved.
All the best,
$^#% Ive been messing up.
I didnt know that I could do that.
I guess thats why I don’t get any calls.
Ive tried wholesaling other peoples deals and I would give addresses but get no replies. LOL.
It really is not funny to me. :flush
So does anyone have a copy that I could use from now on so they don’t go around me?
If you are dealing with serious investors, they are probably going to tell you take a hike if you ask them to sign some sort of agreement before you release the address.
Have you thought of seeking out some wholesalers in your area and asking them if you can market their properties? This way you won’t have to bs the people who call or email.
It’s good that you are getting out there and taking action. Keep up the good work.
well theres the question again…if you give the address then they could easily go around you if your wholesaling someone else’s deals.
Get an option on it.
Actually, an option will not prevent someone from going around you. My bad.
as i understand it an option is used when you are renting the house to someone with the option to purchase it.
How would this apply in this case?
I can see that probably being the case sometimes. But, if you are meeting people online, I would have to make some attempt to protect my information. There ARE some shady characters out there that would love to get her source, and cut her out if possible. Isn’t that remotely like what the douchebag aka DB you described in your blog did to you recently?
If the investor is a serious business-minded person, they SHOULD understand reasonable precautions. Until of course you build a profitable relationship with them (especially when you met online).
This is of course just my opinion.
All the best,
A Non Circumvent agreement?? I would have definitely passed on that deal. There are just too many deals out there that give full disclosure. Transparency is key! The only time I have dealt with Non-Circumvent agreements were when dealing with high-end deals. If thats the case, then I understand.
Although, if you have a solid contact in place, then you have nothing to worry about. An option is fine. With that said, if you are still worried, then cloud it. (Basically record it and let the whole world know that you are the exclusive buyer on this property and if they want it, then they need to go through you)
I don’t worry about buyers going around me because I make sure to build a relationship with them. I also make sure that I build a strong relationship with the seller and tell them that if they come across a buyer, then they can just send them to me, so I can screen them and close the deal.
My whole point of telling him that was because I didn’t have a property and didn’t know what to say. (Probably should have emailed you Steph:)I shouldn’t have done that but I heard it alot on forums “just put an ad up and don’t give an address. People will call you and you just say it was not available any longer”. Any other time that I have had ads up on craigslist stating that I was looking for cash buyers without saying I had a property, I barely got a nibble. It was only when I put an ad stating that I had a property were people interested. Here’s the funny part yesterday after I picked up my kids from school did I see a house on the very block I used in my ad that now looks like it is vacant. I’m going to keep my eye on it. Thanks!
Also, I wouldn’t have used a non-circ agreement, I just wanted the dude off my back because he was so persistent.
You already have his email, when you find a deal send it to him. If you find him a killer deal, he will not care about the ghost ad.
I was very convicted by putting up that bogus ad and then lying to a potential cash buyer that I sent the guy an apology. He wrote back that he figured it was phony and gave me some good advice and gave me his criteria. In short, don’t do bogus ads. You will get found out. If you are a newbie, just tell your potential buyers, it may work out to your advantage. Thanks!