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Realtor Games -- spending too much time showing property

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I've have been spending the last 3 weeks running all over to show the deals I have!

 

How do you show your properties? Just once per week to a group? Or every time someones calls do you set something up? I keep setting up showings for 3-5 people, but then people no-show to the point of just 1-2 people showing up. I feel like I'm wasting my time doing all these runs around town.

 

There must be a better way. Is this just what it's like to be a beginner, trying to sign up your first T/B? Am I doing something all wrong? I feel good about these deals and am pretty sure I have 2 deals on my hands. But this is dragging, my first 30 days is done on Oct. 15.

 

Tips? Advice?

 

Something doesn't feel right. I don't want to spend my time showing properties until 6-7pm everynight.

 

What do you think?

 

Nick

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I like to group showings if the property is hot. I typically don't show on the same day someone calls and never show on weekends if someone calls on the weekend. Phone screening is key to get rid of the want-a-bees. Usually placing importance on having someone who can purchase in (1) year and mentioning the required option consideration and first month's rent before move-in screens out a bunch. It's like trying to talk them out of the house and letting any potential tenant/buyer talk me into showing it to them. Also, if credit is an issue, I will get more info as to what the credit issue is and if they know their score. I will always call (1) hour before a showing to confirm they will be there. Still, showing the house is part of the game and meeting them in person is part of my screening of any potential tenant/buyer.

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What Steve said.

No-shows are the bane of this business, so always be sure to have the prospect do a drive by the property first. If they don't call back they're not interested. But if they take the time to drive by and then call you to get inside, that's a good start. Still, before you head out the door to meet anyone, be sure to call them on their cell phone to ask where they are. Cuts down on no-shows greatly.

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I just showed my first property yesterday! I guess it's a landmark itself!

 

So there were 5 people total signed up for this, 2 were last minute callers, i asked them to be on time, and they were like "yeah yeah of course"

 

3 out of 5 showed up. I waited for 1 person for 1.5 hours, only because she has option money! I'd never do that again!

They were very mediocre about it, two ladies were walking around, pointing out all the things that are wrong about the place, and i told them "the price is not negotiable, we are selling it as it is."

 

They picked up application and left, i will keep on marketing the house.

 

 

The way I see it, i will show only once a week per property. If I am running around all the time showing property I might as well sign up to be a realtor, like you said.

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I just showed my first property yesterday! I guess it's a landmark itself!

Excellent! Not that I needed it, but now I have an excuse to celebrate with an adult beverage. :)

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Yeah, though i wish it was more like what i imagined: people all showing up from everywhere screaming how much they love the property and throws $10000 cheques at me, killing each other to buy the place

 

but, i guess it's not so easy

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Yeah, though i wish it was more like what i imagined: people all showing up from everywhere screaming how much they love the property and throws $10000 cheques at me, killing each other to buy the place

 

but, i guess it's not so easy

You were expecting Naked Investor groupies??

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Well, the only seller who showed a bit interest is not calling. Darn it,

 

I already posted on newspaper, and despite huge readership for the paper, i am getting very little responses. And I have signs posted in the neighborhood.

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Not a fan of newspaper advertising. Back in the day when I started, the newspapers were it as far as marketing went. But those days are gone. These days, the print media is as relevent as the street corner phone booth. Readership is down, and way too expensive. Go with signs, word of mouth, online ads, mortgage brokers, and to a lesser degree, Realtors.

And by the way, you'll never have to chase a tenant/buyer who is serious. If they're difficult to reach and not returning calls, they're not interested.

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Yeah what Steve and Michael said. This biz is so great at helping us grow thick skin :P I laugh at how I've changed over the months. Every one else is just looking out for themselves so I no longer feel like I have to be Mother Teresa to these people---sellers or t/bs (course I've heard that even she speaks softly and carries a big stick lol)

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newspaper ads....i kinda did it just to test its effectiveness.

 

Toronto transit has average 1 million riders per day, estimated 600k goes through subway. And the newspaper i advertised at has free paper distribution in every subway station, and all main intersections of Toronto.

 

 

I got 2 messages, in 2 days. Not very impressive.

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so one of them is wrapped up.

 

It turned out that caller 2 on a list of some 30 picked it up. I showed it to probably 7 parties, maybe 10.... Some people didn't like it, and I even drove 1 hr round trip to show it once just to get ugly looks! But handing off my contracts in an assignment was pretty cool! I had to be very prepared for the 'wrapping up.' That was cool! Now I've helped 7 people with their Real Estate needs (children not included)!

 

The other one..... I fear THE WORST. I think I picked it up for too high of a price! Whooops!

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The other one..... I fear THE WORST. I think I picked it up for too high of a price! Whooops!

Remember, the market is always right. So if you're getting feedback indiciating your terms are unacceptable, pay attention. One of the benefits of investing with lease options is they are risk free. If you had actually purchased the property and paid too much, it's an expensive lesson learned. But if you did a CA or a Pure Option, other than some marketing dollars and your time, you've lost nothing, while gaining valuable insights into local market values. It's all part of the learning process, Nick.
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It turned out that caller 2 on a list of some 30 picked it up.

 

Dude that's pretty cool. I already have a list of 20 buyers, out of 40 voice mails on the property ---- and nobody has shown firm interest! Though I've since learned my mistake, the little things that's wrong with the property that I thought didn't matter? THEY DO!

The painting, little garbage left in kitchen, broken light bulbs, messy backyard....All small things, but the buyers pick those things up very quickly and you can't convince them that all these are going to be fixed! It's not even about the price.

 

Bah!!!

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