First Step to Closing a Deal - Prospects

I have spent probably hundreds (maybe even into the thousands) of hours over the last 9 years or so reading or listening to REI information and techniques. You can always tell the guys that are trying to give you just enough information to get you to buy more of their training materials, and the guys who really are giving you the information that you need to invest in real estate and make a profit out of it. However there seems to be a common theme between these two types of guys, and that is PROSPECTS.

Without prospects there is no way to make money in REI. You have to find people that are NEEDING to sell, then you have to determine if they are motivated enough to sell at a discount. One of the biggest momentum killers for me is dealing with unmotivated people.

Last year (August 05) I started a new method of marketing to get potential prospects calling me. I like this method much better. Out of about 100 incoming calls over the month of August (I sent out 400 pieces of marketing) I only got one lady who yelled at me for marketing to her and told me she was going to report me to the BBB. Everyone else was actually very pleasant when they called, even when they weren't wanting to sell their house! This is the way to go for me.

The great thing about this type of marketing is this; even when people call me back who don't have a house for sale, I get the chance to let them know I am the ReiGuy and if they send a house my way that I end up purchasing I will pay them a hefty finders fee. Lots of these REI guru's usually suggest paying a nominal fee, however I want people to always have me in the back of their mind when the word Real Estate comes up. How do I think I can do that? By offering at least a $1000 finders fee!

Think about it. If I am going to make $5k and up on a deal, isn't it worth it to give a chunk of that away? Remember, these are deals that I probably wouldn't get otherwise. I think it's worth it.

Having said all that, I NEED to crank up my lead machine. I wan't to spend this week getting that together and putting a plan in place that keeps my lead machine running with minimal effort on my part...