Birddogs 2.0: How To Boost Your Buyer’s List With Social Assistants

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on May 14 in BestTransactionFunding

Maximizing potential for real estate wholesalers is all about the buyers list. So how can today’s property wholesalers build their lists bigger and faster?

With endless amounts of distressed inventory out there, unlimited capital from Best Transaction Funding, and retail property prices moving up fast, there is no reason wholesalers shouldn’t be blazing through their goals. Still, a lot depends on having a great buyers list. Your buyers list helps you to act with confidence knowing you’ve got deals sold, even before you ink contracts or make an offer.

The Trouble with Birddogs

Real estate investors have been told they should be using ‘birddogs’ to roundup deals for decades. But the lack of a system, and fragmented and half-hearted way it is normally approached has often yielded little results. Many investors have randomly offered others some type of reward for bringing them deals. Few have probably seen much action from this. But that doesn’t mean it can’t work if done better.

In order to work wholesalers need motivated referral agents or buyer recruiters that are actually equipped to bring them in deals and prospects. The need to offer some form of system and support, and really motivate these individuals to make this a priority.

Birddogs 2.0

Wholesalers do need to watch out for the legalities of their setup. They might want to have their attorneys prepare some form of contract, or in some cases hire new social birddogs as independent contractors. They also need to be sure they don’t cross licensing laws. However, there are several ways to overcome the challenges of yesterday’s birddogging tactics…

  1. Get people integrating this with what they are most passionate about
  2. Give them a better name and title than ‘birddogs’
  3. Create a system and support mechanism

What Should They Do?

The problem with selling has always been, well…selling. Referrals are always better than direct sales pitches. So what wholesalers need is a small army of assistants who are passively referring people to their buyers list. In a comfortable way.

Some ways to do this can be via personal Facebook pages, bloggers, casual networking, and dinners or other fun events. You’ve got lots of people out there with big networks that trust them. When they make referrals in a passive way it can carry a lot of weight. And all they have to do is to start talking about real estate, mention this person they know that is constantly serving up awesome deals on houses, and point them to their landing page to punch in their email to get alerted to new deals. They get to do what they are passionate about, and can get paid while having fun.

Your new agents can be made up of friends and family, local experts or notable social butterflies you reach out to, or hires you make via online platforms.

Try it out…

 

Authored by Best Transaction Funding BestTransactionFunding.com is the leading source of transactional funding and hard money loans for real estate wholesalers in the US, where 100% financing, and saying “Yes” is what we love doing all day long.

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