I have considered myself to be a pretty good marketer for 20+ years. I can actually remember the time when all marketing was done face to face, by using direct mail or with ads in places like TV, radio, and newspaper (before the internet).That was the way marketing was done. It was all about repetition and building relationships through the principle of “know, like and trust”.
Where marketing is concerned today, some things haven’t changed all that much. The person that has managed to establish that “know, like, and trust relationship” with motivated sellers will be the one to nail down the property just about every time.
There will always be those sellers motivated solely by money. Those folks will pick the newbie with the higher offer over the investor that they know has the experience to help them. Money is their only concern.
Many times those will be the deals that never close because the newbie investor simply made an offer that was too high. Let’s face it; when you are new, it usually shows by your lack of confidence, nervousness or maybe your inability to look the seller in the eyes and make that really uncomfortable low offer. But there are always motivated sellers that will overlook those things and sign on the dotted line just because of the higher offer.
Working with distressed sellers is a “one and done” process in most cases. There won’t be any repeat business. You may occasionally run across a seller that has multiple properties they want to sell at the same time, but most of my business with motivated sellers of distressed properties involves just one house.
What Happens When that Deal Tanks?
When that inexperienced investor finds that they can’t find a wholesale buyer or possibly even ..