Let’s do some “Q&A” today.
Tom, I send out 100 to 150 postcards each month, but I still haven’t gotten any sellers motivated enough to make a deal. What am I doing wrong?
Only 100 to 150 postcards? You’re not sending nearly enough!
If the average response rate for direct mail is only 1%, then it is going to take you a very long time to get enough leads to find the one that is actually a deal.
Think about it. You’ll only get roughly 1 response. Two if you’re lucky.
And not every response has a snowball’s chance of becoming a deal.
So you simply need to be sending more. Take luck out of the equation by increasing your volume.
That’s an easy one.
Tom I heard you can’t legally wholesale a property because you are “brokering without a license”. My realtor told me this, so I’m assuming it must be true. What gives?
I’ll try to be nice on this one. The investor/realtor conflict always rears its ugly head with misinformation.
If you are on the real estate contract as the Buyer, then you have “equitable interest” in the property and that interest can be assigned (sold) for a fee.
You aren’t brokering the real estate deal as you are not a 3rd party to the contract, you are actually named as the buyer in the real estate contract.
Why does this question always pop-up in the never-ending conflict between real estate agents and investors?
It’s easier for people to say something is illegal than to bother to learn the facts.
Especially if it doesn’t jive with what they’ve been taught.
And when said person has a license, it gives them “credibility”, even if they are flat-out incorrect.
Obviously this isn’t legal advice as I’m not a lawyer and don’t play one on TV either. So go look it up and check with your own legal consul to confirm. My attorneys have closed plenty of real estate wholesale Assignments for me and they certainly wouldn’t be violating their licenses and risking their livelihoods just to close my real estate deals.
Okay, one more…
Tom, sometimes I’m annoyed that it seems like you are constantly selling your real estate mentoring program. Why push it so much?
Because it works.
I love seeing the massive impact I have on my coaching students when they start closing profitable real estate deals. It gives them and their families the “lifestyle of options” to do as they please.
Yes, I am constantly marketing my real estate mentoring program. That’s how a business grows consistently. Just like I teach my students how to constantly market for motivated sellers, because that’s how their real estate businesses will grow.
If you hate selling or refuse to learn marketing, then you probably won’t do well in the real estate business. Or any business for that matter.
Being in business means you need to be selling and marketing.
It’s that simple.
Stop demonizing it and start embracing it.
You won’t help people or make any real money until you do.
One thing I don’t market NEARLY enough is my Business Negotiation home-study course.
It is one of the few elements of my real estate mentoring program that I sell separately (my real estate marketing course and templates are strictly for my mentoring students ONLY).
And since you are on my email list, you get a $200 discount on it.
That’s big savings.
Full details at:
Traction Real Estate Mentors