Build Your Real Estate Buyer’s List and Follow Up!

June 4, 2010 · Filed Under Real Estate Business Management Tips 

Why do most real estate investors not build their lists? Do you know what I’m referring to?  I’m talking about very specific lists that you as an investor need to grow, it’s very important that you build your lists. Your list could be one of many things. You’ve got a list for your wholesale buyers, your investor buyers, etc.  These lists can be invaluable when you get a property under contract very low and you want to wholesale that property, you should be able to contact your wholesale buyers list, your investor buyers list whether you send out an email or a fax or make some phone calls. And hopefully you can, with that list, get that property sold very quickly.

You also want to build a list of tenant buyers and retail buyers, people that are looking to buy houses. It’s very often easier to find a house for a buyer than it is to find a buyer for a house. So, if you’ve got a buyer and they’ve got a good down payment and they’ve got a great income and they’re looking for something, they like you and they like your system and you can go out and find them a property, sometimes that’s the easiest way to make that happen.

So, build your lists. If you’re not already keeping track and building your lists, you need to do this. And every time you get a new wholesale or investment property, you should still be advertising to grow your list, as well as marketing to your list.

So, don’t ever get stuck with one list source. You always want to grow your list, because your list is a great asset.

Once you have lists then guess what?  You need to use that list, make some phone calls.  I’m referring to follow up and organizational skills.  A lot of real estate investors, and I’m not sure I understand why, but they have bad organizational skills and bad follow-up skills. Not following up with people when you say you’re going to follow up with them, or just not following up with people in general is not going to help you grow your business.  When you have a great asset such as a list, then please use it.  Don’t let it sit there and go stale, keep in touch with those individual buyers and sellers.

Another term for these organizational and follow-up skills could be having just plain good customer service. It’s so hard to find good customer service these days. There are so many things that you do that it’s really unfortunate, because there is nothing that really perturbs me more than picking up the phone and wanting to do business with somebody somewhere, and they say they’re going to call me back or they’ll e-mail me back at a certain time or whatever, and they don’t do it.

If you’re not going to do it, fine, but send me a note saying that, “Hey, I haven’t forgotten about you and I’ll send you the information that you needed here shortly.” Okay?  It’s just very bad business, and it’s not good for your credibility if you do not have good follow-up skills.

If you have a problem remembering things, you need to write them down. Consider buying yourself a planner so that way you can keep track of your schedule throughout the day of things that you need to get done, and cross them off as you go. That’s exactly how I do it; I don’t know what I’d do without my planner.  So, work on your follow-up skills and do what you say you’re going to do.  Grow your lists and use them.

Just in time for the weekend, there’s lots of material to review that can help you succeed in real estate investing.  This business is challenging, but fun and I’ve put together an incredible investing tool kit that will show you just about everything I do on a daily basis.

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