In times of economic downturn, rises in unemployment invariably lead to foreclosure. The increase in foreclosures provides an opportunity for real estate investors to capitalize on heavily discounted property. If you lack the capital or credit to invest, you might choose to sell leads, or "bird-dog," to other real estate investors by placing the property under contract. Build your network of real estate investor contacts to help further your chances of success in selling sales leads. As you gain credibility among your contacts, selling real estate leads will become increasingly easier.
Instructions
1. Attend local real estate investor meetings. Network with investors at the meetings to learn more about their specific investment needs. You can either sell them existing leads or go out and find a deal that meets their goals. Collect a business card or write down their most current contact information so you can reach out quickly in case you uncover a lead that interests them.
2. Analyze your deals thoroughly before attempting to sell a lead to an investor. You can lose credibility by selling a poor lead to an investor. Savvy investors will often immediately recognize the poor deal and associate you with poor investment information. Create a solid list of potential buyers by only selling the deals you research and find to be exceptional investments.
3. Place a property under contract to ensure it doesn't leave the market before you can sell it to another investor. Some cash is required in this instance to secure the contract. Your contract should include a clause that allows you to "assign" the deal to another investor. Having a property under contract when you attempt to sell the lead decreases the chance of an investor going around you and buying the property without compensating you.
4. Create a website with pages of real estate investment leads. You can charge investors an upfront fee to subscribe to your website and gain access to real estate deals. Alternatively, you could list lead information excluding the property address and have investors purchase each lead individually. Maintaining a list online opens the door to selling to investors around the country.
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