Meeting with a realtor

[Doug Pretorius (ON) 9]

Gary, I still swear by calling on ads. It's by far the fastest way to find motivated sellers. However, my latest 2 deals came from emailing ads. It took some patience but not much effort. Every morning I email all of the FSBO ads on the local online classifieds. Not much to ask since there are only about 5 new ones a day LOL!

 

I've been doing that consistently day in and day out since the 3rd week of June. So that's roughly 150 emails. From that I got about 100 replies. Most just said no but around 15 said they would be willing to rent. I followed those up with another email that explains who I am and what I do. I got around 8 replies that were either positive or they wanted to know more. Those turned into 3 face-to-face appointments, and so far one signed contract (although I fully expect to sign #2 this weekend). Also the seller who signed is seriously considering having me RTO another house for them as well.

 

Those numbers are fairly consistent with my 10-year average of 1 signed deal for every 50 contacts. I have to admit doing these emails has been pretty painless compared to cold calling 150 ads

 

I can't possibly over-emphasize how important a steady ROUTINE is to your marketing. Some days I get no replies, most days I get nothing but "no's", but once in awhile I get a positive response. In the past I'd email a bunch of ads and get little or no results and then a few weeks or months later do the same again. And I concluded emailing ads doesn't work. But it does...if you make it just a part of your daily real estate workout and just do it without any expectation of when it might pay off because you never know.

 

One thing I'll add is that these numbers are totally fine with me. I've made some major changes in my life and decided to dedicate the majority of my time to volunteering. So I'm totally restructuring my real estate business around that goal. As a result I've decided to limit myself to about 1 deal per month. Unexpectedly I've found this limit has actually had a hugely positive effect on my business. I've tightened my requirements for what I consider a "deal", so I'm eliminating a lot of marginal stuff that I used to try to do something with. I'm also eliminating a lot of difficult sellers who I used to try to work with as well, so my frustration level is WAY down.

 

I'll take this as a sign that changing my overall priorities was a good decision

[GaryinNC 0]

Gary, I still swear by calling on ads. It's by far the fastest way to find motivated sellers. However, my latest 2 deals came from emailing ads. It took some patience but not much effort. Every morning I email all of the FSBO ads on the local online classifieds. Not much to ask since there are only about 5 new ones a day LOL!

 

I've been doing that consistently day in and day out since the 3rd week of June. So that's roughly 150 emails. From that I got about 100 replies. Most just said no but around 15 said they would be willing to rent. I followed those up with another email that explains who I am and what I do. I got around 8 replies that were either positive or they wanted to know more. Those turned into 3 face-to-face appointments, and so far one signed contract (although I fully expect to sign #2 this weekend). Also the seller who signed is seriously considering having me RTO another house for them as well.

 

Those numbers are fairly consistent with my 10-year average of 1 signed deal for every 50 contacts. I have to admit doing these emails has been pretty painless compared to cold calling 150 ads

 

I can't possibly over-emphasize how important a steady ROUTINE is to your marketing. Some days I get no replies, most days I get nothing but "no's", but once in awhile I get a positive response. In the past I'd email a bunch of ads and get little or no results and then a few weeks or months later do the same again. And I concluded emailing ads doesn't work. But it does...if you make it just a part of your daily real estate workout and just do it without any expectation of when it might pay off because you never know.

 

One thing I'll add is that these numbers are totally fine with me. I've made some major changes in my life and decided to dedicate the majority of my time to volunteering. So I'm totally restructuring my real estate business around that goal. As a result I've decided to limit myself to about 1 deal per month. Unexpectedly I've found this limit has actually had a hugely positive effect on my business. I've tightened my requirements for what I consider a "deal", so I'm eliminating a lot of marginal stuff that I used to try to do something with. I'm also eliminating a lot of difficult sellers who I used to try to work with as well, so my frustration level is WAY down.

 

I'll take this as a sign that changing my overall priorities was a good decision

 

Thanks Doug. You're emailing FSBO ads. Are you also emailing FRBO ads? What do you typically say in your emails?

 

I hate calling on ads on the phone. Gotta get used to doing that I guess, but I'd much prefer to email.

[Doug Pretorius (ON) 9]

Email #1:

"Would you consider renting?"

 

Email #2:

"My name is Doug Pretorius and I'm with Homes Everyday a property management company specializing in Rent-to-Own. The situation we're facing right now is we have many more tenant/buyers than we have properties to offer them. So we're looking for additional nice properties in good areas, and that's the reason I responded to your ad, we're trying to fill a need.

 

Since our tenant/buyers want to buy by the end of the lease they take great care of the property. And since we're not real estate agents you don't pay any commissions or fees on the sale. So it's a nice alternative to doing a regular lease that you might want to consider, plus you'll get the sale you're ultimately looking for as well."

 

Generally they either like the idea of working with a property management-type company and want to set up an appointment right away. Or they don't and I never hear from them again! And no I'm not emailing FRBOs. I don't know what it is with landlords around here but the ones who are open to a rent to own seem to always want way too much rent.

[MichaelC 160]

I've tightened my requirements for what I consider a "deal", so I'm eliminating a lot of marginal stuff that I used to try to do something with. I'm also eliminating a lot of difficult sellers who I used to try to work with as well, so my frustration level is WAY down.

I've had that "attitude" for a long time now. I'm not arrogant about it, but the minute I sense a homeowner thinking they are doing me a favor by talking with me, all contact ceases immediately. I will only work with homeowners who are pleasant to work with. I'm married with children. I have in-laws. I get all the aggravation I need elsewhere.

[<Steve> 82]

Nice going Doug! Cheers to you!!

[lhenley 8]

Doug,

 

You OK with the 2-step email model? I'll get responses from my first email, but never hear back after the second. I've talked to MC, and his point is that those that answer the 2nd email, are very interested.

 

Do you have a different spin on it?

 

Lynn (FL)

[Doug Pretorius (ON) 9]

I agree with MC. Only a small percentage of people respond positively to my second email but when they do I usually find myself on an appointment with a very nice, very motivated seller, and more often than not I'm leaving with a signed contract in hand.

 

If you're getting a positive response on your first email (eg. yes I'm willing to rent to own) and nothing on your second then tweak the message. Keep in mind that for a long time I had zero success with email marketing for L/Os. Come to think of it, after getting 3 very positive responses between 2 and 3 weeks ago, I haven't got much since. Once again emphasizing the need for consistency. Who knows? I might not get any more leads from this avenue of marketing for months? But was it worth the 10 or 15 minutes it takes every morning? I'd say so

 

I should probably get back to calling FSBOs too. And I'm looking forward to trying out my signs-on-properties idea. A few good solid leads from here and there adds up.

[lhenley 8]

I'll keep on with the 2-step emails, and just wait on the really interested owners to respond.

 

Lynn (FL)