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5 Hacks To Help You Find More Deals

The end goal for any real estate investor is closing more deals. Everything you do in your marketing, networking, lead generation and business management funnels down to getting deals closed. In a perfect world, you would be flooded with more deals than you can handle. Practically speaking the opposite is often the case. You are most likely constantly looking for deals and as many opportunities as you can find. Instead of throwing money at advertising and marketing you should take inventory of your business first. What you will find is that you have many potential deals right under your nose that you have neglected without even realizing it. Instead of waiting for your phone to ring there are deals to be had by taking a proactive approach and going after them. Here are five hacks that will help you find more deals.

• Look Through Old Leads. You can find, and close, more deals simply by being persistent. Look at every old lead you have worked on in the past six months. As you go through these try to find a reason you stopped reaching out to them. Even if they told you they weren’t interested in selling now or wanted to go in a different direction it doesn’t mean the deal is dead. The best investors can close five deals a year simply by going through their old leads. Most people give up after a few emails or after leaving a few voicemails. The reality is that the people you are calling are going to work with someone. It is up to you to be persistent enough to allow that to be you. Don’t stop calling until you hear directly from the homeowner their intentions with the property either way. Take one day a month to call all your old leads at different times of the day. Someone that wasn’t ready to act a few months ago may finally be ready act today. There is gold in your old leads if you take the time to go through them.

• Reach Out To Past Contacts. In much the same way as you went through your old leads you should do the same with your past contacts. The truth is that you should never let a relationship stop with someone you may have worked with on a previous deal. You should reach out to them in some form every few weeks even if it is just to check in and say hello. The longer you go without contact the more difficult reaching out to them becomes. People you have worked with on previous deals are contacts that are already teed up for you. Instead of trying to develop a relationship you already have one. They know how you work in the heat of a deal so you don’t have to sell them on that. All you need to do is stay in touch for a few minutes a week. If there has been a prolonged time between communication reach out and ask if they want to grab coffee and talk business. Assuming your first deal was a success the odds are they will say yes.

• Network Constantly. Everybody in your market should know that you invest in real estate. It doesn’t matter if you close one deal a year or one a week your contacts should know to call you if a someone is interested in selling their home. The most basic form of networking is showing up at weekly meetings, exchanging business cards and drinking bad coffee. These meetings certainly have some value but they are just one networking option you should explore. You can also do simple things like promote your business throughout social media and introduce yourself to fellow parents at your child’s school, sports teams or dance studio. There are more people than you may realize that know someone going through a situation where they need to sell their home. By getting your name out to as many people as possible it increases the chance they will call you when a deal comes their way.

• Give Referrals. There are some deals that just aren’t a great fit for you and your business. It could be a case of bad timing or the location of the property is outside of your comfort zone. If the deal isn’t for you it may be perfect for someone you know. By referring the deal to someone in your network you can instantly enhance or build a relationship. Think about how you would feel if someone handed you a deal that checked all the boxes. The odds are you would appreciate the deal and look to return the favor as soon as possible. By passing along one deal you can open the door to many more in the future.

• Take Advantage Of Inexpensive Marketing Options. There are several inexpensive marketing options that you should be take advantage of. Between bandit signs, newspaper ads, real estate website placement and social media there are a handful of marketing options that won’t break the bank. These are just a tip of the marketing iceberg that you should look at. It is better to try a half dozen inexpensive marketing options than dump all your eggs in one basket. With inexpensive options you can keep them going for a prolonged period of time and give yourself greater opportunities. If you have lacked success with these in the past it is probably because you didn’t give them enough time. Revisit all your marketing options again and pick out a handful that fit your budget.

There are deals out there if you know how to find them. If you are having trouble generating leads use these five hacks to help find more deals.

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