Melvin Feller owns and is the founder/CEO of Melvin Feller Business group. He operates in Dallas Texas. A former sailor and proud supporter of our vets, Melvin now concentrates on business and his love of seeing people become successful in all areas of life. He is an avid Christian and knows all things are possible in Christ! He has been a domestic violence survivor in his marriage and divorce to Tina and more importantly a cancer survivor.
Melvin Feller MA Looks at How to Leverage Your Real Estate Classified Advertising
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Melvin Feller MA Looks at How to Leverage Your Real Estate Classified Advertising
Melvin Feller is known as “The Entrepreneur’s Mentor” because Melvin walks his talk.
Melvin Feller has been there and done that and more importantly, Melvin
Feller knows how to transfer the skill set for success. This is main
reason that he has been the sought after coach to hundreds of small
business owners, entrepreneurs, Realtors, Real estate investors and
service professional internationally. Melvin
Feller’s main talent is to show you how the step by step process to
build and enjoy a successful 6-figure plus business while having a
balanced life. Melvin Feller maintains an office in Texas.Melvin Feller is currently pursuing another graduate degree as an MBA. Real Estate Classified Advertising by Melvin Feller MA
Classified
advertising is one of the cornerstones of the Real Estate business. The
classified ads are the place where many of us began to look for houses
to buy when we first started out. I know I did. I opened the local
newspaper and looked for the ads that hinted at motivation. This was
something I had learned from a book and tape program I had purchased
from a late night guru during a moment of weakness.
Unmotivated Sellers
I
called the first few ads and soon found out several things about this
method of procuring properties. The first thing I learned is when
someone says they are a ‘motivated seller’ it means absolutely nothing.
The people I spoke with who actually were selling their home this way
were definitely not motivated (having a need to sell). The second thing I
learned from calling the ads is that most of the ads that said
‘motivated seller’ were placed there by either Realtors or investors.
The Realtor is just trying to pull in any and all calls for their ads
and the investor is trying to do the same.
The
bottom line is I kept going and called hundreds of ads over the next
month. I was very diligent about it and shrugged off all the rejection. I
finally realized that there had to be a better way to find the houses.
That is when I realized that I needed to be the selling through the
classifieds not the person trying to buy there. Real Estate Classified Advertising by Melvin Feller MAClassified Advertising for Investors
There
is a great way to buy houses from the classifieds though. It is to get
the truly motivated sellers calling you. That is by placing ads in the
classified section of the newspaper letting people know that you buy
houses.
Therefore, the first question you ask is. “What should my ad say?”
My answer to that is simple.
I BUY HOUSES
Now
the reason I print it that big is not to imply that you take out a
full-page ad and spend thousands of dollars. It is merely to impress
upon you that you have to get your message out, and your message is that
you want to buy houses.
I
often see people who get so caught up in making their ad perfect that
they don’t ever get their ad in the paper. The bottom line is you have
to say that you buy houses and that is it. The person who is looking at
the Real Estate Wanted
section is someone who is looking for people like you. The person who
starts calling those ads for the most part does not care what they say.
They just start at the top and dial until they find the underlying cause
of. The main thing is to get your ad in the paper.
Fishing for Motivated Sellers
My
father and I took fishing trips every year and I always had to have the
perfect lure on my line and would change a dozen times a day. All the
while, my father was catching fish with the same lure all day. He always
told me you could not catch any fish if your line isn’t in the water!
In the same spirit, you will not buy any houses without an ad in the
paper! You will buy many more houses with an ad than you will without
one. So just get something in there and make it better as you learn what
works best for you. In the meantime, the most powerful thing you can do
is to make a call and place that first ad.
Now,
that being said, I will give you some pointers on your content. The
main things I try to place in my ads are my hook, my service, their
benefit, and a catalyst. Real Estate Classified Advertising by Melvin Feller MAHooking the Seller
Your
hook is something that you will use to make you different. It can be
something as simple as a nickname or your hobby or anything. You just
want something that people will remember and something that will make
them want to call you first.
Many years ago, I became a father for the first time. I placed ads that said, “New Dad buys Houses”.
I got incredible response from the ads. About every other person that
called asked about my new arrival. Some asked if it was true. Others
just asked about the baby. Still others talked about their first-born.
Now you say what is the point. The point is that having your first child
is a very happy memory that everybody remembers. The average person
attaches a great deal of pleasure to the whole process of having their
first child. Now, this person is looking through the paper and sees tons
of houses that say “We buy houses” or “I buy houses” or whatever and
then they see something different; something that they personally have
anchored a great deal of past pleasure and happiness to, who do you
think they are going to call in this time of distress?
Think
about their situation. They are about to lose their most important
possession-their home. If I were in that position, anything that made
that call a little easier would make a huge difference. So, if you can
think of a good hook that people relate pleasure to then you will have
one step up on the competition.
The other reason you need a hook is just for credibility and differentiation
long term. Nobody can tell one we buy houses ad from another because
they are so similar, but if your ad is different enough that people
notice it then you are in. For instance, there is an investor around
here who places all of his ads like this: “Family Man Buys Houses”.
He has that in all of his advertising. Now the person who needs to sell
looks at the ads one week and sees all the ads but does not call. Next
week, again they see the ads but do not call. It goes on like this for a
while, and when they finally do call, they call the ad that they
recognize from all the weeks of looking in the paper. Unless they
memorized the number, they do not recognize most of the ads from each
other because there is no hook, but they see “Family Man buys houses”
and it stands out. First, they see that he has had his ad in the paper
every week.
This gives him credibility and he is a pro. Second, he has a
hook that hopefully puts people at ease. He did not choose “Jerk buys
houses” or “New Investor buys houses” but again something, that people
attach positive connotations to- A Family Man.
Therefore, without beating this horse any further, get a hook. Make it positive and memorable. Real Estate Classified Advertising by Melvin Feller MA Service to the Homeowner
The
next thing your ad needs to say is what you can do for the seller.
Obviously, the ad will convey that you buy houses, but you want to add a
little detail about what you are looking for. You can say many things:
All Cash Offers
Make Your Payments
Take Over Payments
Debt Relief
Cash in Hand
Pay top dollar
Quick Close
Close in 9 Days
Offer on the Spot
Guaranteed Offer
Solve Problems
We want to Help
Stop Foreclosure
In addition, you can put the situations that you are looking for in the ad.
Foreclosure
Tired Landlord
Out of State
Lost Job
Bills piling up
Inheritance
Divorce
Behind on payments
Need Repairs
Transferred Real Estate Classified Advertising by Melvin Feller MA
These
are not all of the things to put in the ad just some examples. You get
the idea. The reason you put this is twofold. One you want to weed out
the person who just thinks you want to pay him cash and top dollar for
his house. You still get some of these calls, but it really cuts them
down if you let people know in your ad what you are looking for. The
second thing is that if someone is in one of these situations and sees
it in your ad then they are more likely to call because the fact that
you have
dealt with their problem before alleviates a little of the fear
of making that first call.
Lastly,
you want to get the seller’s benefit in the ad. This is similar to your
service, but it is like looking at your service from the seller’s eyes.
It is a very important thing to do because if they see the benefit that
they desire in your ad then they are likely to call. Some benefits
include:
Get on with Your Life
Get rid of that unwanted Rental
Save your credit
Get a fresh start
Sell your house fast
Don’t make that payment anymore
Move by Friday
Cash to you now
No more tenants
No more Mortgage payments
Stop the Calls from Bill Collectors
Catch up your payments
Rebuild your credit
These
are but a few. You can think of the benefits that you offer. You never
know what a person is looking for. If your ad hits the benefit, they
want and their need is strong, enough then they will be calling you
shortly!
Call to Action
A
Call to Action is something that invokes action. The catalyst is
something I try to put in all my ads just to try to let them know they
need to call sooner rather than later. Some good catalysts include:
Call Today
Its Not Too Late
Top Dollar if you call by?
Don’t Wait!
The longer you wait? Real Estate Classified Advertising by Melvin Feller MAPlacement
One
last thing. As I said earlier, many people are going to just start at
the top of the list and work downward. Therefore, it is always helpful
if your ad is at the top of the list. The first person to actually
answer their phone will often buy the house. Therefore, you should begin
your ad in such a way that you will be on top! Some papers place the ad
near the top if you begin the first word with a special character like
an asterisk or a dollar sign or any other special character. Others just
do it alphabetically. You get the idea. Now that we have all the
ingredients, here are some ads that I run weekly just so you see how it
all fits together.
A
New Dad Buys Houses! All Cash Offers or Take over Payments. Stop
Foreclosure and put cash in your pocket. Call Today! 555–555–5555
$ELL
YOUR HOUSE TODAY!!! Guaranteed OFFER. Close in 5 Days. All cash or Make
your Payments. Top Dollar if you call by Monday! 555–555–5555
$top Foreclosure! Its not too late! I can save your credit. I solve problems. Foreclosure Specialist. Call Today.555–555–5555
$ELL YOUR HOUSE FAST!
Divorce? Relocation? Foreclosure? Tired Landlord? We love to solve problems! Call Today 555–555–5555
Where do I run my Ad?
Again, my answer is simple. Real Estate Classified Advertising by Melvin Feller MAEverywhere!
The
more ads you have running, the more calls you will get from motivated
sellers. I live in a suburb of a large city. There are literally a dozen
local newspapers around the city, and one large metro paper that has a
viewership of 1 Million people! Now where should I be advertising? The
answer is in every paper I can afford. I was speaking with a friend the
other day and he told me about a new investor who really decided to go
for it. This person placed ads in thirteen papers! Now he had to pay for
these with his credit cards. That is a scary proposition, but he was
committed. He just bought a house that he stands to make $50,000 on
after splitting the profits with a money partner! Now, I know most
people cannot start out placing 12 ads a week, but you add more papers
as you are able to afford it. In our area, there are three main types of
newspapers. There is a Thrifty Nickel type paper, a large metro paper,
and several smaller local papers.
The
thrifty nickel paper is a great place to advertise because it is
usually very cheap to place an ad but brings in some great calls. I get
calls every week from the ad in the thrifty nickel.
The smaller
papers are usually fairly inexpensive to place ads in as well. These
papers are good especially if you want to specialize and buy houses in
only one area.
Then there is the large paper. It is more
expensive, but it is worth it. I buy houses all over town. If I can
drive to it in under an hour, I will buy it. Therefore, the large metro
paper is where I need to be. If you are going to go for it in this
business, you have to be in a paper like this-if there is one close by.
You will be losing houses every month if you are not.
Power of Consistency
There
is one thing I would like to say about classified advertising. If you
want to make it in this business long term, you must keep your ads
running. I often see new investors having trouble and saying they are
not getting the calls from motivated sellers. When I ask them about
their ads, they invariably are running them inconsistently. I ask what
does your ad say and they say well I think it just expired the other
day. I need to call and renew it. You do not get results from one week
of advertising. You do not get results from one month of advertising.
You need to set up a campaign that you can sustain for several months.
Consistency is the key. If your ad is there every week then eventually
you will get the calls. Real Estate Classified Advertising by Melvin Feller MA Bang for the Buck
The
thing you must do in the beginning is figure out where you get the most
bang for the buck! You have to see what you can afford then way the
options. It is better to run an ad every day in a smaller paper if you
can only afford to run it sporadically in the larger publications. The
bargain paper in your area might be an alternative as well. Just make
sure you always have that ad running! In addition, the ad should be the
length that offers the best rate. Often this is three lines. Therefore,
you are wasting your money if you have a six-line ad with wasted space.
You would be better off running another three-line ad in a different
paper. Earlier I spoke in depth about what your ad should say. You do
not have to say everything in every ad though. Just choose enough to
fill three lines in each ad.
Testing Your Advertising
The
last thing I would like to say about advertising is that you should
always be varying your ads and trying to see what works best. Sometimes I
run ads that focus more on pre-foreclosures. Sometimes I focus more on
tired landlords or other times I just talk about selling fast and
putting cash in your pocket. In any case, I run all kinds of different
ads and I always ask which ad someone calls from so that I can find out
what motivates people to pick up the phone! No matter what your ad says
though, keep it running. Remember, you cannot catch any fish without
having your hook in the water!
The
last bit of wisdom I can give you about your classified ads is always
run them with your cell phone number. Never, Never, Never run the ad
with a voicemail set up to take the calls. You want to talk to the
motivated sellers firsthand. In the large metro paper I spoke about
earlier, there are often thirty to forty ads in the Real Estate Wanted
section. This however is deceptive, because if you start calling the ads
often four out of five of the ads is set up to be answered by an
answering machine or voicemail. If you actually answer your phone in
this business, you have the upper hand on seventy five percent of the
people out there. Just answer your phone and get it under contract
before the other person ever checks his messages. Melvin Feller MA Business Consultant, Business Owner, Entrepreneur, Melvin Feller Ministries and MBA Graduate Student CandidateMelvin Feller MA is in Texas and in Oklahoma.
Melvin Feller founded Melvin Feller Business Group and Melvin Feller
Ministries in the 1970s to help individuals and organizations achieve
their specific Victory. Victory as defined by the individual or
organization are achieving strategic objectives, exceeding goals,
getting results or desired outcomes and a positive outreach with grace
and as a ministries. He has extensive experience assisting businesses
achieve top and bottom line results. He has broad practical experience
creating WINNERS in many organizations and industries. He has hands-on
experience in executive leadership, operations, logistics, sales,
program management, organizational development, training, and customer
service. He has coached teams to achieve results in strategic planning,
business development, organizational design, sales, and customer
response and business process improvement. He has prepared and presented
many workshops nationally and internationally.
According to Melvin Feller MA buying foreclosures is not as easy as most people think, and there is absolutely no one better way” to buy foreclosures. Melvin Feller is President of Melvin Feller Business Group in Oklahoma and Texas and a thirty-year veteran investing in foreclosure properties. He loves Texas Real Estate and Thinks Texas is must have part of any one’s wealth strategy! He has spent his entire professional life in business and real estate. The key to any “profitab l e purchase” is find a truly motivated seller. Someone who wants cash more than they want to keep their house or someone who wants to sell you their home more than you want to buy it. Once you have a motivated seller, you are more than half way to your goal of buying a house below market value. So, I’ll illustrate three ways to buy foreclosures. Which of these is the best? Well, again, it’s up to you to decide. I’ll just lay the basic foundation and then you can determine which option is the best...
Melvin Feller is an experienced entrepreneur and former executive, so he speaks from experience, as well as years of his own personal and professional development. Melvin Feller is also an online Business educator who loves to teach all aspects of business. Melvin Feller’s clients hire him for his depth of business knowledge to motivate, educate and inspire aspiring and current executive leaders to achieve a higher level of success, professionally and personally. Melvin Feller aligns leaders to the vision and future of the organization, supports them in the execution of key strategies and tactics to move initiatives forward and helps them build capabilities to transform culture. Melvin Feller deals with a lot of clients that are dealing with clutter. Therefore, they know that the clutter is an issue in their production and business. Now you might be asking, what is clutter and why should I care about it? Clutter is essentially anything you don't need, don...
Melvin Feller Shows Ways to Build Your Social Network. Melvin Feller is the managing partner and Founder of Melvin Feller Business Group. Founded over 30 years ago, it started as small business development group but has now expanded to a worldwide organization. They develop and do grant writing, business plans and start up business design from the ground up. They are especially involved in minority and veteran businesses and endeavors. They also offer life coaching. Melvin Feller Business Group currently has offices in Dallas and Oklahoma City. Melvin Feller is also an adjunct instructor on a plethora of subjects. One of Mel v in Feller’s favorite motto is: “I will always try my best at what I do. I am not perfect and I have made mistakes. I will always own my mistakes and not pass the buck. However, I refuse to be defined by last mistake. Life is to short not to stand back up and damn the torpedoes and learn from those mistakes.” This was instilled in my Navy Reserv...
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