286 - How To Find Motivated Sellers FAST

As many of you know I have moved to Key West this year as a full-time resident.  I decided to ramp up my business as a Realtor down here in paradise because….why not, it’s hard to say no to the commission on the sale of million-dollar houses.

Moving down here meant starting from scratch for the most part. None of my Realtor marketing applies down here because I am now needing to target a completely different type of client.

As a Realtor, I focus my marketing dollars on attracting sellers. This same approach is what I have used for years to find motivated sellers. But moving to a new market means I have to learn this market just like I did the Tampa Bay Market.

What does that mean?

First, every day I walk, ride my bike, or drive down a different street. Every day I do this when I leave the house, never taking the same way home twice if possible. I do this to discover the nuances of my new home city.

Often I meet new people when walking or riding my bike which is why I prefer those methods over driving. By walking I get to see everything that I would miss if I was driving.

The other day Jill and I celebrated our 13th wedding anniversary and decided to spend the day on a walkabout. We walked down the street to breakfast at a new place we have never been to. 

We walked the shops and galleries and low and behold met someone who knew of me because of a mutual friend. This person’s parents are selling a home on the island which is listed by a friend of mine. Ironically, I met the parents a week prior while my fund partner Mike and I were out property shopping.

Long story short she is going to be getting her real estate license which means perhaps she will join my team down here in Key West as a buyers agent.

During our day out and about I identified about a dozen properties that need my help which I plan to skip trace and begin marketing to. You see, these are opportunities that I have driven by for years, as has everyone else, and likely nobody has put much effort into trying to solve these problems.

Last week I went down to the code enforcement meeting and sat through it. Why? Because I wanted to learn who the code enforcement officers are as well as their mannerisms. I also had the opportunity to hear the staff from the planning commission address issues and watched them work with the residents. If you are looking for problems to solve, code enforcement is a great place to start. Hint: These days most meetings are recorded, you can listen to the recordings while you do other things and listen for the addresses and case numbers, you will also learn who the movers and shakers are in town.

This week I dropped over $10,000 on a youtube video ad agency to find motivated home sellers in Key West, the plan is to saturate the market with my marketing to outspend all other Realtors in key West. The one person who willing to spend the most to get and close a lead wins.