How to Find Motivated Home Seller Leads in Real Estate.
“I struggle with trying to find motivated sellers with properties that I can put under contract. I look over the MLS for deals and try to tweak my direct marketing but I’m looking for a sure fire way to have consistent results and a put a system in place.”
This is a question posed by one of our subscribers, anyone else struggle with this?
I definitely use to…until I discovered, The Secret Sauce.
Wanna know what it is? Ok, but first a quick story.
Fifteen years ago I was a noob in real estate.
I was 22 years old, married with 3 kids all under the age of 4.
And yes, believe everything you hear about Utah…it’s true
Anyways, no real estate experience. No sales experience. Shoot, I barely had any life experience.
However, what I did have was high motivation to make something work.
I’d quit my full time job and barely had enough money in the bank to last me 3 months if I continued to live frugally, about $7,000.
Oh the days that $7k could last me 3 months…
Alright, getting to the point.
Because I was so motivated and determined to make something work, it was virtually impossible that I would experience anything but success.
And I did rather quickly…
I sold 4 houses my first month as a real estate agent. Three the next, four the next and by the end of the year I’d sold enough houses to earn the Realtor’s Association “Rookie of the Year” award.
What’s interesting though is that every single month during that first year I would think to myself…”I must be getting really lucky”, “I have no idea where my business will come from next month”, “what if this is all a fluke?”.
I really thought that somehow my business was going to stop because my luck would run out.
Looking back, what I wasn’t giving myself credit for was the fact that I showed up every single day and did the exact same thing every single day.
I was super consistent…and really, it was out of fear…but who cares it worked.
I’d show up to the office every day at 8:00 AM
I’d look at my lead list and create tasks
I’d look at my database and make a list of people to prospect to
I’d look at my current deals and write a to-do list
I’d check the MLS for hot deals
I’d preview properties if I had nothing else to do
I’d call friends & family just to BS, but I’d always interject real estate somehow and ask for referrals
I’d talk to other agents to see what they were doing that was working
I’d listen to audio tapes from people like Zig Ziglar, Tony Robins, Brian Tracy every time I got in my car.
I’d write down my goals for the week and the month, how much money I wanted to make, and things I wanted to buy.
I did these things every single day.
I was super consistent…and determined.
This is one way to make it: Keep Up to date with my blog
The other is by creating a detailed plan, understanding that it’s not going to be easy…and it surely isn’t going to be fast.
Today things are different.
I realize now that back then I basically had a high paying JOB without a boss.
Now I run a business.
And in my opinion the key to running a successful business is constant automation, effective systems and great people.
And the Secret Sauce to creating a well oiled machine that consistently generates high quality leads is…ready for it?
We want everything right now. We want someone to tell us the secret sauce, give us the secret software, the secret lead source.
And guess what, I just gave it to you.
Building a business that ultimately runs without you and makes good money takes time.
And how you build it is by automating each step of the process, one by one…until it works really well independent of you.
Here, I’ll give you a quick example:
Last week I shared one step of the “Finding Motivated Home Sellers through Vacant Properties” strategies that I use.
Some of you know this process by it’s nickname, Driving for Dollars.
If you haven’t read the post and watched the video, now would be a good time to do so.
Well this is just one lead source, however…getting it to the point that it generates leads consistently and automatically took work.
Here’s how I went about it…
First, I had to replace myself.
And figuring out all of the details for this task alone was a beast because once I decided that this was the next step, all kinds of un-answered questions popped up, like:
What type of person can do this for me?
Where am I going to find someone?
How much am I going to pay them?
How often should they do it?
Will they do it as good as me?
How will I make sure they’re doing what they say they are?
Where will they drive on what days?
Will I pay them for their gas?
Will it be worth the money I’m paying?
How will I train them?
What if they see how much money I’m making then become my competition?
Should I have them also put post-its on the houses?
Should I have them try to find the owners?
Will it even work?
And the list goes on and on.
It was quite overwhelming honestly.
And from the day I decided to automate this process to the day it was fully implemented (not working perfectly mind you, just fully implemented) was 2 months.
It took way longer than I wanted and had I known it was going to take that long in the beginning I may have never started.
And had I never started, I would not be doing at least 1.5 deals a month almost on auto-pilot netting me an average of $8,000 per deal.
Catch my drift?
And this is just one lead source.
In order to have a consistent flow of motivated seller leads, you have to have several lead sources.
That way, when you’re not getting leads from one source, they’re coming in from another.
But getting to the point that you have 5 to 10 lead sources all running independent of you takes time, commitment and most importantly…patience.