Happy 2013 Everyone!
The start of the New Year, is always very exciting for buying property, as January brings a flurry of activity and opportunities. And after having put things on hold over Christmas – motivated vendors look to sell their properties quickly.
The key to property sourcing at this time of the year is all in the detail, so I thought I would share with you on this blog post.
1) Only Deal With Motivated Sellers
This advice is true all year round but is absolutely relevant in January. When New Years hits, there are lots of vendors who ‘want’ to sell and will react to marketing you send out to them, but be careful, as you only want to be spending your time dealing with vendors who ‘NEED’ to sell.
Otherwise, you can become very busy dealing with leads that just won’t convert, as their ‘NEED’ to sell is not strong enough for them to accept suitable offers.
So it’s very important that you ‘Qualify Your Message’ in your marketing, so you generate the right types of leads, ie:
▶ Suggest the price range you will buy in.
▶ Or the % of the market value you will offer.
When choosing your message, its a fine line trying to get the balance between sending out a catch-all message OR an overly qualified one. But when done right, but the quality and conversion of your leads will be much higher, and you will have more time to focus on the right deals.
2) Start Your Marketing Early
Were already on the 6th January, but that doesn’t mean you have missed the boat.
The whole of January is a great time to market to sellers, and we have already started our 2013 marketing campaigns for some of our investors.
These went out on the 4th January, and we have been getting calls all this weekend.
This may seem very early into the New Year, but the response rate is phenomenal, so try and kick start your 2013 property sourcing early, and make the most of the opportunities that are available in January.
3) Focus On Pull Marketing Methods
Highly Motivated Sellers, will be looking at ways to sell their home quickly this month.
So sellers actively ‘seeking out’ ways to sell their home, rather than just reacting to a message that has been presented to them, will be much more motivated.
So this month, I would recommend paying extra attention, to your property sourcing that will involve the seller contacting ‘you’, rather than the other way around.
They will also be in a different mindset and more likely to be ready to accept an offer.
Avenue’s like the two below can work exceptionally well this month:
▶ Online Lead Generation – where sellers are going online and actively looking to sell their home quickly.
▶ Estate Agents – look for early price drops in January, where the seller is contacting the agent to reduce the price to sell quickly.
It’s important to have a mix of methods available when sourcing your properties, but from experience, at this time of year – it’s important to focus your time and energy on the ones that will generate the most motivated of sellers.
Have a Great 2013 and Beyond!