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…
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.
"I want thank you for the excellent service I received from Best Transaction Funding.The quick response I received from your company from the beginning of the transaction and to the end was unbelievable. I also want to give a special compliment to you as well. You went to great lengths to keep me informed and gave my title company all the information they needed to complete a successful closing. I cannot express how thankful I am. Such service builds great working relationships. I will definitely recommend Best Transaction Funding to all my fellow investors. Thank You."
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"You each deserve high marks for your wonderfully quick response time to each of our questions and requests! You hit home runs with us! Your application system was easy to use. Our deal met your qualifications and every time Rob Kozak or any member of Mystic Properties, LLC phoned, we received a "real" person dialing back to speak with us.
Your patience and persistence were exceptional in dealing with our business interests. Thank you for such great customer service! We look forward to working with your staff, again, in the future. We like referring people to you, as us, our team would have missed-out on an excellent earning opportunity.
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