In a world where everyone follows the herd you can stand out by being a little different. When we started out in the real estate investment world, I remember being so excited. I fell in love with the first property I bought and wanted to sell it after fixing it up. At the start I staged several open houses because I felt being there in person I could show people why my house was so nice and all the great options I was offering to purchase like my rent-to-own or owner financing programs.
I listened to my realtor friends and did the normal advertising in the paper and set up viewings. I contacted all the realtors in the area and told them of the great property that awaited their clients if they were to choose mine to buy. What came as a surprise to me is that the realtors were somehow not as excited as I was and had their own listings to promote. Basically I got the age-old feeling that they couldn’t give less of a rat’s behind about my property. In fact, the first open house I did a realtor absolutely sabotaged the sale of my property. As I mentioned before I had bought it with much needed repairs and completed fixing them, however the realtor decided to tell their client and everyone else that it was a bad property and they should stay away from it. On top of that while I was showing the house to someone else the realtor stole my sign-in sheet of potential buyers!
Needless to say I became a bit skeptical to trust realtors when it came to showing my houses. What was equally frustrating was that of the 12 people who said they would come in 2 days only 6 showed up. I wasted 2 whole days – my entire weekend and did not get a buyer. They say insanity is doing the same thing over and over with the same results yet there I was the next weekend showing the house again and had only 2 people show up in 2 days.
Understand during all of this I had been told to automate this entire process, however I was stubborn to implement any such of a system. I continued to contact realtors and run traditional type ads to get people interested and 2 months later still didn’t have a buyer. It was time to make a change. I decided to change the way I was marketing. I put more interesting ads in the paper emphasizing my rent-to-own and owner financing programs and in turn received a steady stream of calls. Eventually I had a lady who needed OF and gave us $15k down.
Now came the fun part. I found that the phone rang MORE when I was not showing houses but automated the process by putting a lock box on the door and left flyers and applications in the house. At first I was a bit worried that someone might steal my new appliances or plants I used for staging. The time I save in not showing a house not to mention the gas costs and other overhead made a huge difference and to this day I haven’t had anyone steal anything from my houses.
Nowadays I use this system and don’t have to lift a finger outside of answering the calls, screening, and reviewing applications to check credit , approve and collect check for move-in. Save yourself the time and aggravation by letting people look at your properties on their own. You will sell your houses quickly and with less hands-on work.