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Automated Real Estate Marketing for Beginners – Part 7 of 10
Joe: Let me give you another example deal to show you more pieces of the system I use and help my mentor students set up.
Joe: I got my seller website set up. This one is specifically targeted to landlords and For Sale By Owners. We sent out a text blast through the Automarketer. A text blast an online system in the Automarketer that allows you to send an automated series of text messages over time to a list of potential sellers for about 2.5¢ per text. You can set it up so it texts a pre-written series of seller marketing texts to every FSBO in every town you want to work. So, this message we blast out is an offer to different kinds of leads.
Joe: We scrape these leads from internet sites and from people who are running For Sal By Owner ads and For Rent ads in the paper. They cost about 8¢ each to scrape and you can upload and import your own list if you prefer for free.
Joe: Now, between 5% and 80% of the people our automated system texts will actually respond, depending on the area. We average about 20% response rate. All we have to do is return their call, send them a link to the online agreement and we become principal owners of these properties. That gives us the right to sell them to people on our list even if we don’t have a real estate license. This is such a powerful thing.
Joe: Remember: if you aren’t a licensed real estate agent you must be a principal in the transaction. That gives you ownership rights. You can’t represent someone else in a deal unless you have a license. That’s illegal. But if you become the principal and have ownership rights in the deal you can sell the property yourself. That’s what we’re doing. So, if you do this, make sure you use the right paperwork, the paperwork that makes you a principal in the transaction that’ll keep you from getting into trouble. And it’s pretty easy to get the seller to sign these deals because they have very little to lose, and you have nothing to lose. That’s my safety net method coming into play again.
Joe: So, you’ve got the deal put together, now it’s time to sell it. These rent-to-own deals go to end users, people who want to live there, not investors, although that happens sometimes, as an investor buying with a lease an option is, in my opinion, a mistake. There’s so many better ways to buy. So many more secure ways to buy.
Joe: So, on this deal we sell to an end user. We immediately do a blast to our list of rent-to-own buyers that we’ve been building. These lists don’t take long to build. We use the internet, craigslist, Zillow, Facebook, bandit signs – all sorts of methods. Even signs in the yard of our houses. Some of these things are pretty lo-tech. But they’re still effective and cheap. And even lo-tech things can be systematized, automated, and delegated. You don’t have to do the work yourself.
Joe: So, if we have someone on the list who likes the property it sells immediately. I mentioned earlier that one of my mentor students sold a property that he put together at one of my buying events in that same weekend. He did it by blasting a text message with a link to his Automarketer listing site to his buyers list and sending people over to look at it online. He also tells me that one of the deals he sold in five minutes. He was talking to the seller and before he went over there he told one of his buyers about the house, even before he had it under contract.
Joe: Now, don’t do this unless you know what you’re doing, but, as the seller was saying “yes” to him and the deal, my student told him, “I’m glad you agreed because I went ahead and told this guy about the property.” The buyer drives up in his car, Jim shows him the house, and the guy pulls out his money and buys it right then and there. The seller was pretty impressed and Jim has been telling the story ever since. I don’t think any of us has beat his record.
Joe: Okay, that’s all well and good, but not all of our properties sell that fast. Maybe we don’t have someone on the list who wants to buy it right now. We need to make sure that list is constantly growing and that the growth is happening automatically. You need the automated systems in place to make that list grow. These things are not that hard to set up and they’ll work for you for years after you get them going, once we get buyers on our list.
Joe: I’ve written a whole series of emails that go in our autoresponders and are sent out to them in sequence every two or three days. It’s already set up for you. Once we sell a lease option property to someone who’s going to live there, we then go to our investor list that we built using the websites and traffic-generating techniques and ask them if they’d like to buy a property with X amount of equity and a buyer already in place who has an option to buy in one to two or three years so the investor can do a 1031 exchange and defer 100% of their taxes.
Joe: Let me stop for a second. What I just said is an entirely different technique just in those last three sentences that can double your income on these deals. It’s not hard to find investors who want these types of deals, and this process is also something I automate. My list is growing every single day and I never even have to think about it anymore. Anyway. The investor doesn’t have to get a loan to buy the property. We have him take it over with a land contract after giving us $5,000 to $20,000 for our cut in the deal.
Joe: So, you’re getting paid by the buyer, usually $5,000 to $10,000 lease option fee, and you’re getting paid by an investor, maybe another $5,000 or $10,000 assignment fee, depending on the amount of equity in the deal. The only way we’re able to do deals like this is because we have the list. The list is vital. Spend the time it takes to build the list. I would say that 80% of my work is spent finding new ways to build effective lists. If you take nothing away from this video except that one concept, it’s the list that makes you money if you know how to monetize it.
Joe: Now, take a minute and think about this. Imagine if you had somebody take you by the hand, and say we’re going to give you a set of websites, buyer sites, seller sites, investor sites. Not only are we going to do that, we’re going to show you how to press a few buttons that’ll make our system scrape seller lists from the internet and send out messages to those sellers that’ll get tons of traffic to your websites. This way those websites will generate leads – load of leads – and motivated sellers. People who need to get rid of their properties and will sell it to you under terms and conditions that you need.
Joe: Of course, you’ve got to learn what good terms and conditions are, but there are only a few simple formulas for that and I can teach you all that.
Joe: But, instead of you doing anything to drive traffic to your sites, you’re going to use a piece of software. I’ve mentioned it several times already, it’s called the Pushbutton Automarketer. This software builds a list of likely sellers, then it texts and voice blasts all of them and makes an offer to each and every one of them for you. And it does it in a series of text messages that go out over several months.
Joe: The software then gets responses and classifies those responses and responds with a different message based upon what the response, the lead said in their text back to you. It’s called key word based artificial intelligence and it’s not as smart as a human, but it’s still very effective and it runs day and night and it never shows up late for work or complains. So, all this is happening. All the time. Never ending. Just full time, 100% on autopilot, marketing.
Joe: Leads just keep coming in and you do nothing to make it happen.