Use Advertising To Generate Short Sale Leads

Companies that are in the house buying market may pursue a number of different options to secure a wide variety of investment properties

. Certainly, one of the most critical keys to deal-making is advertising.

Interestingly enough, My experience has shown that different types of advertising attract different types of homeowners. For instance, some homeowners may be prompted to call because of a Yellow Pages ad. Others may be motivated by yard signs or pole signs, while still others may be attracted by newspaper ads. Tech-savvy homeowners may be enticed to deal through a company's website.

The aim with any advertising is to generate phone calls. More advertising means more calls, and the more calls you have, the more successful you're likely to be.

Once you attract leads, you can then decide which ones you wish to pursue. Chances are great that you will not want to proceed with every lead-if you tried, it would probably turn into an incredible waste of time and resources.

Just as different means of advertising attract different kinds of homeowners, different types of leads result in different types of deals, short sales, REO properties, subject to deals, etc. It is common for the house to be owned free and clear, or the loan nearly paid off. The homeowner is interested in cash-either all cash up front or some cash up front with more generated when the house actually sells. The operative word here is 'cash'-that's the main selling point for the homeowner.

In other cases, the homeowner may have just a little bit of equity or even no equity. The company then offers the owner some cash, and then has the deed signed over. In such cases, the company might have to do some repair work in order to sell the home. The home could in turn be sold for cash, or with a lease to own option or a land contract. Choose the type of deal that will work best for your particular company.

In the end, no matter what type of deal you are interested in securing, it is extremely important to advertise. It's virtually impossible to generate a great deal of real estate business simply through word of mouth. Advertising can open doors that would remain closed otherwise. And the more advertising you do the more potential business you generate. Pursue a wide variety of advertising, and you'll find all sorts of potential clients. You can then be selective about who you decide to partner with.

by: Alan Cowgill

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