OfflineHello,
Been searching and reading thru the forums regarding bandit signs.....some investors have success with them and some don't.
For those that have success with signs for finding motivated sellers why do you think that is (some investors do deals b/c of signs and some don't)? Consistency? Persistence?
Tara
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The results can be market driven. If you are in an area that has very low inventory and very high demand sellers don't NEED to call on bandit signs. You won't get as many calls. However if you are in a area that has high inventory and low demand and people are trying to sell their house anyway they can, they will call on bandit signs. You will get more calls.
Then there is the question of consistency. ANY type of advertising campaign must be done properly (right type of sign in good location) and consistently.
Putting out 10 signs two times and saying they don't work is a problem.
25 signs, once a week for 8 weeks will be a good indicator of how the signs will work in your area. Don't spread your signs all over town. Concentrate your signs in one area at a time.
Remember: 18 x 24 YELLOW signs with magnum black marker.
WE BUY HOUSES
ANY CONDITION
XXX-XXX-XXXX
Places in high traffic areas, intersections, Wal-mart and Grocery store entrances and exits ETC.
So the success variances are due to 2 things I think. Your market and your actual campaign.
Michael
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
Great points!
However, wondering why someone that has done say 3, 4 or 5 deals from using bandit signs wouldn't just do more? For instance if someone did 2 wholesale deals from putting out 25 signs a week for 6 weeks....why not put out 100 signs per week to bring in more leads?
Wouldn't it be the same for say mls private seller listings? Make more offers, create more deals.
Sure, the more the better. You just have to have the systems in place to make the signs, put the signs out, ( Around $135 per 100, plus stakes, plus markers) respond to calls, get them under contract and wholesale them. If you
don't have the capability to CLOSE the deals this can be a problem.
100s of new investors put out signs and when they get a call they can't do anything!! Maybe tie up the poor sellers property for a month and then don't produce, giving the real investor/buyers using bandit signs a bad rep.
Michael
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
My thought was investors should be getting in tons of leads, then cherry pick the good deals out of those leads.
So put out 50-100 signs a week or every other week and see what happens!