When selling your deals (whether retail, wholesale, on terms, for cash, etc) what is your standard operating procedure?
For wholesale & terms deals I do the following:
Email the deal out to my buyers list
Post on Craigslist
Make a Vflyer or Postlet
Blast on Sellpoint
Post the deal on my website, where online buyers land after opting into my squeeze page
Handwritten bandit signs (“cheap house, cash only” for wholesales and “rent to own, seller financing” for terms deals)
For all-cash retail deals I will usually do all the above plus list on the MLS using a flat-fee service and maybe even a “round robin” auction if the deal is worth it.
Good list - we do most of what you are doing Archie - but the one thing we do in addition to what you are doing is to mail to recent cash buyers in the area as soon as we get a contract.
Just like on the buy side, signs and mail are the best ways we have found to find buyers that actually buy.
That’s a great idea. You may recall we were discussing the merits (or lack thereof) of Open Road platform a few weeks ago. I’ll say the leadpipe feature is definitely one of the strong points of Open Road, although I still don’t know if the whole thing is worth what it costs. They pull cash buyers from public records and send them to your account automatically every month. I did a postcard mailing to a few hundred of those cash buyers to build up my buyers list last summer. I think I’ll start mailing them when I get wholesale contracts as well.
I agree Archie - that was one of the things I really liked about Realeflow/Open Road - it was very handy. But yeah I didn’t think that feature by itself made what was essentially an online database worth $100/month.