Is the list of buyers you have created for the wholesale home not being delivered? If so, why and what can you do to improve your performance and sell more homes at wholesale faster?
Some investors have complained that even though they have successfully mastered building a sizable list of buyers, few end up being true cash buyers who take action. So what is the solution?
Some of the ones on your buyer list may not be serious. Some have high aspirations but do not fulfill them. Some are just not qualified, and some might just be competitors doing market research.
Take this question of why your buyer list isn’t working to help sell wholesale homes fast on popular online real estate forums and you’ll see plenty of other investors making recommendations for qualified members of your buyer list. This can include everything from asking more questions up front, to requesting proof of funds or mortgage prequalification letters, to requiring potential buyers to provide an advance deposit or open an escrow account.
These can all be good ideas, but when simply creating a list, it may be best to leave it as open as possible. The more people participate, the more visibility for each future deal. These front-liners may not be buyers at all, but they can put their deals in front of thousands of others who are. The highest visibility; more bidders and higher potential sale price and profit margins.
Of course, there is also another side to this. Maybe the deals you offer are not so good. Or at least they may not be the right ones for the buyers on your list. Do you know what your buyers really want? When was the last time you asked them? The last time you asked about your purchasing criteria?
Of course, the true pioneers in this field can go out and push trends and create a demand for their product. This requires some strategy and setup, but it’s not impossible.
However, the bottom line, especially in this real estate market, is that if you have good wholesale deals, you should have no problem selling as many wholesale homes as you can.
There are literally millions of people and businesses interested in investing in real estate and a large percentage of them have the cash to run fast. So it’s really just a matter of making the right mix.