Part I of 9 (9 Ways to Find Buyers In Today’s Market)
In this series, we cover 9 effective ways to find buyers in TODAY’S Market.
Alright! I know you’ve heard about these little signs before! Some people hate them and other people swear by them! But, opinion doesn’t matter…. THEY WORK. PERIOD.
Unfortunately, most people only use bandit signs to find motivated sellers and neglect this inexpensive little tool entirely when it comes to finding buyers. I can tell you that we personally sell more than 35% of all of our properties on bandit signs alone. We actually use them about 75% of the time to fill our rental vacancies.
There are some substantial benefits that bandit signs offer including:
- Inexpensive. You can pick up 100 bandit signs – with stands – for under $200.00. That’s dirt cheap when you consider the return on investment you’ll get with your signs.
- Targeted Prospects. You’re getting your marketing out to people in the immediate area of your property. People are more likely to purchase within their local area of influence.
- Ease of Testing. When you use blank bandit signs and hand-write your message, you can literally test and track your message in real time to create the signs that attract the most targeted prospects.
How to Use Bandit Signs for Buyers
Testing and tracking is critical… The results below are based on testing a number of different elements – and thousands of dollars doing so. Start off by following these suggestions and be sure to test in your own market to see what works best for you.
- Use either white or yellow 18×24 blank signs. Handwrite each sign in large, black, permanent marker. This allows you to change the message in real time. You don’t have to wait until you place your next order. And if you have actual properties, you can customize the message to reflect each deal.
(Once you have a message that converts well, you can have them printed with your handwriting. The handwritten signs generate higher responses as much as 2:1. )
Now, this is a good time for a quick note on copy! Remember… your signs are just another form of advertising. You must have compelling copy the makes your prospect take action (i.e. Pick up the phone and call you!). Pay careful attention to creating an attention-grabbing headline. This is your one chance of capturing a prospect, so make it good! Then, you have about 2 lines of text to entice them. And finally, you must put your phone number in big, bold, numbers that they can see from the road.
Here’s How to Achieve Quick Success with Bandit Signs
- Write a minimum of 10 signs at a time and put them out between 4 and 5pm. This way, people will see your signs on their commute home. Plus, code enforcement officers are generally off the clock by that time. Be sure to put a substantial amount out over the weekends because you’ll get good visibility and you won’t have to worry about codes throughout the weekend.
- Hire someone to put them out for you! This is the most dreadful part of the bandit sign strategy! So, eliminate it! You can go to craigslist.org and get people to do this for you dirt cheap ESPECIALLY if you are giving them consistent work.
- Do not use your own phone number. Use a forwarding service where the number is non-traceable! These services allow you to screen through an answering machine or forward to your own number. You may want to send the leads to a call screening service.Additionally, they will capture the call information so you can call back prospects that don’t leave a number. This sure beats using your own cell phone! Plus, this way, your local code enforcement officers can’t find you! (And yes, most code enforcement officers will make you take down your signs and/or threaten you with fines).
In a nutshell, bandit signs are one of the fastest, cheapest, and most effective mediums that investors have at their disposal! Use them to sell an individual property or build a massive list of ready, willing, able and qualified buyers.
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