Tuesday, September 30, 2008

New Source for Leads

Where do you go to find buyer leads.  Sellers are announcing themselves all over the place but buyers seem to fly under the radar.  But I've been discovering the secret hiding places of some of these potential buyers...

Construction Companies...quite often these companies have people who want to build a home and are looking for the right piece of ground to build on.  The right construction company may be a source of many lot purchase leads.

Sub Contractors...everybody knows somebody who wants to buy or sell real property and if you have a good relationship with the sub contractors they can lead you to many prospects.  This is especially true when the prospect wants to build a home and the sub contractor will get the opportunity to do their trade in the project.

Construction Lenders...obviously these people know who's applying to build a home.  Most of the time these people already have a lot, a house plan and a builder for their home.  But there are a few instances when people will actually start the process with the lender.

Remodelers...what about the person who gets a remodel bid and it is just more than their budget will allow?  Quite frequently the answer to this dilemma is to buy a different house and sell the one they are in.  2 leads instead of one.  And the contractor already has the bids for the work to be done if the property was to be purchased as an investment (and later resold with a listing agreement).

The Actual Project...if you're working on a project that needs work, maybe the best source of buyers are the contractors and sub-contractors who would be working on the project.  These people will make the money for the work they would have done anyway and they make the additional profit by enhancing the property value.  Then they need to sell the property (which means listing agreement) and attracting new potential buyers and investors.

I've discovered that the local Home Builder's Association is a great source of leads for an investing realtor.  They know their work, they get paid for it, may be the buyer/investor, and a listing source in the future!  It's time to develop a working relationship with the local contractors.  You will provide them additional work and they will be/produce buyers and sellers.  What a win-win opportunity.

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