Sunday, April 14, 2024

absentee owners

    There are an estimated 18 million U.S. military veterans, an undisclosed number of surviving spouses, and 1.4 million men and women currently serving on active duty.

    This means that there are in excess of 20 million Americans who may be eligible to take advantage of the VA home loan program.

    The good news for an agent who specializes in VA buyers is that millions of veterans feel that 2021 is a good time to buy a home.

    Nearly 60% say they intend on buying in the next five years and 34% say they will definitely buy a home this year, according to research conducted by data and consulting company Kantar (for Veterans United Home Loans).

    Sounds like a lucrative niche market, right? Not so fast.

    “Real estate agents who aren’t familiar with the details of the VA loan program could waste time showing you properties that have little chance of meeting VA and lender guidelines,” warn the pros at veteransunited.com.

    If this is a niche you are considering in your real estate business, get up to speed on the VA loan now, because half of the veterans surveyed say they will definitely consider applying for one.

    How to become a military-friendly real estate agent

    No, you don’t need a background in military service to work effectively with military homebuyers. Sure, it helps when it comes to communication. The real knowledge you’ll need, however, is about the nuts and bolts of the VA loan program.

    You’ll also want to get to know the needs of this group of people. Many, for instance, don’t know that they are offered a unique home loan program as part of their benefits. In other words, they are completely unaware of the VA loan program.

    “If you have not used the VA home loan program, what was the main reason you did not?” was a question put forth to veterans for the VA’s 2010 National Survey of Veterans. Nearly 34% responded that “I didn’t know about the program.”

    Your first job, then, is to create a direct mail piece letting these folks know about the VA mortgage guaranty and singing the praises of its benefits.

    Learn what’s important to veterans

    Nearly half of the aforementioned survey respondents who did use a VA loan in the past said they did so because there is no down payment required.

    Another big handful of them chose the loan for its “favorable interest rate,” and, coming in third, one group said that they felt their loan was more likely to be approved if it was guaranteed by the VA.

    Since these features of the program are of such high value to applicants, these are points you need to feature in your marketing pieces.

    Especially when it comes to comparing the FHA-backed mortgage with that of the VA (which a substantial number of veterans do), the lack of private mortgage insurance is a biggie.

    Although they didn’t mention closing costs (as is typical with most homebuyers), let your leads know that the VA puts limits on the amount that the lender can charge the borrower.

    It’s not all rosy, however. The VA loan comes with a funding fee. The amount varies and you can learn more at va.gov.

    There is a lot to learn about the VA loan, but it’s all well-worth knowing. The VA makes it easy for you to learn by devoting a section of va.gov to real estate professionals. You’ll find that information at benefits.va.gov.

    RIGHT NOW! Absentee Owner Scheduled Campaigns are on sale 10% OFF the first month (sale ends 4/3/21).
    Launch an Absentee Owner Scheduled Campaign, HERE

    TO LAUNCH AN ABSENTEE OWNER CAMPAIGN:

    Launch an Absentee Owner Campaign by clicking the “GO NOW” button, below (from a desktop or laptop computer).

    And, remember, YOU DON’T PAY until each mailing goes out (cancel or change up until the night before each mailing. The price shown at check out is per mailing, not campaign total).

    Launch an Absentee Owner Scheduled Campaign now, CLICK HERE!

    Please reach out to our support team at 866.405.3638 with questions or if there is anything we can do to help you with your success.


    PLUS: When you have time…here are some helpful resources we’ve made available to support your success.

    1. The Free 12 Month Done-For-You Strategic Marketing Plan

    The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, Niche Marketing, Get More Listings, Geographic Farming, and Sphere of Influence. –Click Here

    2. The Free Interactive Real Estate Business Plan

    The Free Interactive Real Estate Business Plan allows you to enter your business goals for this year and get a breakdown of how many prospects, listings, closing, and so on are needed to reach your goals.  – Click Here

    3. Become a Neighborhood Brand

    Become branded in a specific neighborhood with a 12X15 marketing piece sent automatically each month to an exclusive carrier route. Watch this video to learn more or Click Here.

    4. The Free Real Estate Mailing List Guide

    This image has an empty alt attribute; its file name is Real-Estate-Mailing-List-Guide2-3-D-999x1024.jpg

    The Real Estate Mailing List Guide outlines the top tools for generating targeted prospecting lists including Baby Boomers, Empty Nesters, Investors, Lifestyle Interests, High-Income Renters, Move-Up Markets, and more. The Guide also defines done-for-you marketing campaigns to match these markets. –Click Here

    5. Become a Listing Legend Free eBook 

    This image has an empty alt attribute; its file name is Become-A-Listing-Legend-3D-Book-White-274x300.jpg

    Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here

    6. The Free Online ROI Calculator

    This image has an empty alt attribute; its file name is ROI-calculator-b-233x300.jpg

    Consistency and automation are the keys to success. Discover how effective direct mail marketing can dramatically increase your bottom line. Enter your statistics in our Free online ROI Calculator and click the ‘CALCULATE MY ROI’ button to see your results instantly! –Click Here

    7. The Free Real Estate Marketing Guide “CRUSH IT” 

    This image has an empty alt attribute; its file name is CRUSH-IT-Guide-3-d-298x300.jpg

    The “Crush It” Guide includes easy steps to launching an effective direct mail marketing campaign, how to create a targeted prospect list, the perfect way to layout marketing materials for success, seven opportunities available to target in your area right now. –Click Here

      There’s No Better Way Than Launching a Scheduled Campaign
      Choose From the Following Six Powerful Campaigns:

      Sphere of Influence Campaign – Stay top of mind with your SOI by sending 150 Jumbo-sized postcards, standard-class for only $121.00 a month.
      Farm Campaign – Keep new listings coming by sending 150 Jumbo-sized postcards standard-class to your Farm area for only $121.00 a month.
      Expired Campaign – Own the expired marketing by sending a postcard every day for 27 business days for $18.09.
      Absentee Owner Campaign – Get absentee owners calling you by sending 100 Jumbo-sized postcards, standard-class for $81.00 a month.
      FSBO Campaign – Convert the FSBO market by sending a postcard every day for 27 business days for $18.09.
      Renters Campaign – Turn renters into buyers by sending 100 Jumbo-sized postcards, standard-class for $81.00 a month.

      And, remember, when you schedule a campaign, you don’t pay until the mailing goes out (change or cancel any time til midnight the night prior to mailing).

      Make life easier in 2021 while taking your real estate business to the next level with Scheduled Campaigns!
      STARTING TODAY, Launch a Scheduled Campaign and Get “Unlock Success” For FREE ($159.00 Value)
      Just schedule any campaign shown, here, starting today (December 29th, 2020) and we will automatically send you Unlock Success in the mail (please allow 5 to 10 business days for delivery). Offer available while supplies last.

      Unlock Success contains 101 of Floyd Wickman’s greatest dialogues in audio format (on USB flash drive).

      Topics include negotiating commission, building trust, overcoming objections, mastering prospecting skills, and more.

      Launch your Scheduled Campaign today and get Floyd Wickman’s Unlock Success for Free, click the “GO NOW” button to get started.

      PLUS: When you have time…here are some helpful resources we’ve made available to support your success.

      1. The Free 12 Month Done-For-You Strategic Marketing Plan

      The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, Niche Marketing, Get More Listings, Geographic Farming, and Sphere of Influence. –Click Here

      2.Become a Neighborhood Brand

      Become branded in a specific neighborhood with a 12X15 marketing piece sent automatically each month to an exclusive carrier route. Watch this video to learn more or Click Here.

      3. The Free Real Estate Mailing List Guide

      This image has an empty alt attribute; its file name is Real-Estate-Mailing-List-Guide2-3-D-999x1024.jpg

      The Real Estate Mailing List Guide outlines the top tools for generating targeted prospecting lists including Baby Boomers, Empty Nesters, Investors, Lifestyle Interests, High-Income Renters, Move-Up Markets, and more. The Guide also defines done-for-you marketing campaigns to match these markets. –Click Here

      4. The Free One-Page Real Estate Business Plan

      This image has an empty alt attribute; its file name is Business-Plan-3D-Book-New1-270x300.png

      Treat your business like a business it is vital to long-term success in this industry. Some agents may put together elaborate business plans, yet there’s something powerful about keeping it simple. Check out our one page Online Real Estate Business Plan.  – Click Here

      5. Become a Listing Legend Free eBook 

      This image has an empty alt attribute; its file name is Become-A-Listing-Legend-3D-Book-White-274x300.jpg

      Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here

      6. The Free Online ROI Calculator

      This image has an empty alt attribute; its file name is ROI-calculator-b-233x300.jpg

      Consistency and automation are the keys to success. Discover how effective direct mail marketing can dramatically increase your bottom line. Enter your statistics in our Free online ROI Calculator and click the ‘CALCULATE MY ROI’ button to see your results instantly! –Click Here

      7. The Free Real Estate Marketing Guide “CRUSH IT” 

      This image has an empty alt attribute; its file name is CRUSH-IT-Guide-3-d-298x300.jpg

      The “Crush It” Guide includes easy steps to launching an effective direct mail marketing campaign, how to create a targeted prospect list, the perfect way to layout marketing materials for success, seven opportunities available to target in your area right now. –Click Here

        Never will you find a cardiac surgeon dispensing advice about gynecological problems. Nor will you likely find blog posts on pet websites counseling readers about DIY home projects.

        Yet, many real estate agents have the notion that they can be everything to everyone. Those that typically sell single-family homes think nothing of listing a condo. Those that list mobile homes don’t hesitate to take on a luxury home listing.

        While this may be ok for your bottom line, it does a real disservice to real estate consumers. In all other professions they have a choice of specialists.

        Fence Sitters Series

        They can consult a divorce attorney instead of a bankruptcy lawyer. When they need a root canal, they see an endodontist not an orthodontist and they can take their Porsche to a mechanic who specializes in them.

        Remaining a real estate generalist is easier. It’s safer. After all, you don’t want to miss out on even one deal by narrowing your business focus, right?

        What’s unique about that?

        It’s unfortunate so many real estate agents harbor a reluctance to break away from the herd. The truth is, however, if you always follow the leader you will always be behind.

        Then, there’s that lump in the gut when you think of closing off your business to some parts of the real estate industry and narrowing your focus to only one or two specialties.

        This move away from being “a jack-of-all-trades but the master of none” is necessary if you’re to become the best in the market in your niche.

        Seth Godin, blogging master and best-selling author, suggests that real estate agents should consider “micro-specialization.”

        Choose a niche and work to dominate it.

        Step away from the Herd

        “… you’re either the best in the world (where ‘world’ can be a tiny slice of the environment) or you’re invisible,” Godin continues.

        He says that to become “visible,” requires “… being Draconian in your choices. No, you can’t also do a little of this or a little of that. Best in your world means burning your other bridges and obsessing,” Godin says.

        Scary thought, right?

        Let’s look at a scenario:

        You’re an agent in Las Vegas, chasing after every lead that comes your way – single family homes, duplexes, condos, whatever, you’ll take it. Your website even proclaims as much – “I can help you will all your real estate needs!”

        If you consider yourself the average agent, you make about $45,610 a year, give or take a few dollars, according to Daniel Bortz at Realtor.com.

        Life Event Series – Downsizing

        Suppose you decide to step away from being “average” and that you will specialize in listing and selling high-rise condos. Last year, 607 Las Vegas high rise condo units sold, with an average sales price of $598,728.  This represents a commission of about $17,962 per side (based on 6 percent total commission).

        As a generalist, how many of these condos would you have listed or sold? Be honest. The average Las Vegas agent was lucky to have listed one or two in an entire year.

        The specialist that targets the high-rise condo market with a laser-like focus and dominates the brand as the niche expert in the area increases his or her chances of taking more than a handful of those sides from other agents.

        Let’s be conservative and say that you only close one of these condo-deals a month. Even on a 50/50 broker split, you’d be making nearly $9,000 a month in GCI, give or take a few dollars and nearly $108,000 a year – almost three times what the average agent in the Las Vegas Valley brings home.

        Remember, our scenario is based on conservative estimates. Your mileage may be a lot better.

        The bonus is that the more you enforce your condo-specialist brand, the more condo leads you’ll get and folks that want to buy or sell high-rise condos will seek you out.

        Imagine selling 5 of these condos a month.

        If you’ve been casting as wide a net as possible in the hope of reeling in the maximum number of leads, consider setting yourself apart from other agents by claiming a niche and dominating it.

        Absentee Owner Series
        Send the Tired of Being a Landlord postcard from the Absentee Owner Series to a targeted list of Absentee Owners in your area.

        Need help targeting a specific niche of buyers or sellers? Use our Demographic Search Tool to create the ideal list (it’s easy). Or call our support team for assistance at 866.405.3638!

        PLUS: When you have time…here are some helpful resources we’ve made available to support your success.

        1. Become a Neighborhood Brand

        Become branded in a specific neighborhood with a 12X15 marketing piece sent automatically each month to an exclusive carrier route. Watch this video to learn more or Click Here.

        2. The Free Real Estate Mailing List Guide

        This image has an empty alt attribute; its file name is Real-Estate-Mailing-List-Guide2-3-D-999x1024.jpg

        The Real Estate Mailing List Guide outlines the top tools for generating targeted prospecting lists including Baby Boomers, Empty Nesters, Investors, Lifestyle Interests, High-Income Renters, Move-Up Markets, and more. The Guide also defines done-for-you marketing campaigns to match these markets. –Click Here

        3. The Free 12 Month Done-For-You Strategic Marketing Plan

        This image has an empty alt attribute; its file name is 2020-Planner-3D-999x1024.jpg

        The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, Niche Marketing, Get More Listings, Geographic Farming, and Sphere of Influence. –Click Here

        4. The Free One-Page Real Estate Business Plan

        This image has an empty alt attribute; its file name is Business-Plan-3D-Book-New1-270x300.png

        Treat your business like a business it is vital to long-term success in this industry. Some agents may put together elaborate business plans, yet there’s something powerful about keeping it simple. Check out our one page Online Real Estate Business Plan.  – Click Here

        5. Become a Listing Legend Free eBook 

        This image has an empty alt attribute; its file name is Become-A-Listing-Legend-3D-Book-White-274x300.jpg

        Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here

        6. The Free Online ROI Calculator

        This image has an empty alt attribute; its file name is ROI-calculator-b-233x300.jpg

        Consistency and automation are the keys to success. Discover how effective direct mail marketing can dramatically increase your bottom line. Enter your statistics in our Free online ROI Calculator and click the ‘CALCULATE MY ROI’ button to see your results instantly! –Click Here

        7. The Free Real Estate Marketing Guide “CRUSH IT” 

        This image has an empty alt attribute; its file name is CRUSH-IT-Guide-3-d-298x300.jpg

        The “Crush It” Guide includes easy steps to launching an effective direct mail marketing campaign, how to create a targeted prospect list, the perfect way to layout marketing materials for success, seven opportunities available to target in your area right now. –Click Here

          As various states ease lockdown mandates and life starts to at least minimally resemble what it used to look like, the real estate market is on track to be far better than many had assumed.

          No, we probably won’t see the fiery spring real estate markets of yesteryear, but the housing market may just prove to be the bright spot in the economy.

          Things have changed, however, from buyer preferences to how homes are shown. Have you vegged out enough on Netflix over the past few months or are you ready for the new world of real estate? 

          We’ve found a couple of niches that we think will be especially worth your time and effort to pursue in a post-lockdown real estate market. One of these is landlords, aka “absentee owners.”

          Who are they?

          “There are about 8 million individual landlords in the U.S., those who typically own between one and 10 properties,” according to Diana Olick at CNBC.com.

          She goes on to state that these landlords “manage half the rental properties” in the U.S., with 48 million tenants.

          Many of these landlords bought their properties between 2012 and 2014. Sure, the big guns (institutional investors) bought then as well, but almost half of investment properties were purchased by the individual landlord – the “Mom and Pop” investor.

          Then, in 2018, the share of small investor activity in the housing market soared to 60%, according to Core Logic’s “Home Investor Report.”

          Most of the homes these smaller investors buy are starter homes, by the way – in huge demand in the current market, as you well know.

          These investors are prime targets, right now, for listing opportunities. Your audience, then, will be landlords who bought investment properties between 2012 and 2018.

          Absentee Owners Series
          Their pain points

          The COVID-19 pandemic created a perfect storm of unemployment, closed businesses offering zero jobs to replace those lost and a government financial rescue program that isn’t seeing cash flowing to landlords.

          Your audience of absentee owners doesn’t include the REITs with numerous rental properties and quite deep pockets.

          Again, they’re the small investors, many living paycheck-to-paycheck, just like the rest of us.

          Their biggest pain point right now is how, without rental income, they’ll make their mortgage payments without begging for forbearance and facing a huge payment when it’s all over. That is, if they qualify for forbearance.

          In California alone, it’s estimated that 85% of tenants can’t pay their rent in May, according to SpectrumNews1.com.

          The news site also claims that “… banks don’t have an obligation to help landlords.”

          Even if they are granted forbearance, there are other expenses involved in owning rental property, such a maintenance.

          Frighteningly, nearly 60% of small landlords “…said they did not have access to any lines of credit that might help them in an emergency,” according to a March survey conducted by Avail, a rental platform software company.

          Direct Response Reports

          Ouch.

          Thankfully, you can help these people.

          What’s in it for you?

          I think it’s safe to say that those landlords who bought their property at the bottom of the market (after the Great Recession), and haven’t borrowed against it, are sitting on a ton of equity right now.

          And the facts bear that out.

          Alcynna Lloyd at HousingWire.com claims that the average real estate investors who bought their properties in 2012 “… have seen their home equity climb by 261%.”

          That pencils out to an average $141,000 in equity.

          Imagine being the one who delivers news like this to landlords who are going deeper and deeper into debt the longer the pandemic goes on.

          The best approach

          Other investors find the absentee owner niche quite lucrative. Because of this, there’s a very good chance that your prospects will have received at least one “yellow letter” from an investor/flipper.

          Absentee Owner Series

          The yellow letter is a direct mail piece that is either written by hand (or created to appear to be handwritten) on a sheet of that yellow, lined paper from what is often called a “legal pad.”

          This technique supposedly brings results for these investors, which is why so many of them use it.

          Direct mail is the best approach to potential clients in this niche and a letter is a perfectly acceptable marketing piece – at least for the first touch. Do yourself a favor, however, and don’t use yellow paper. Make your letter professional and valuable.

          The first step to take when approaching this niche, however, is to determine which area of town you’ll farm. Then, order an absentee owner list.

          If you decide you don’t want to use a letter to introduce yourself, there are several other approaches to consider:

          After you’ve decided on the medium for your introduction, all of the above are well-suited as follow-up material. Which brings us to the next step: Schedule a direct mail stay-in-touch campaign. It doesn’t matter if your “touches” are monthly or quarterly, as long as they are consistent. Don’t give up if you don’t hear back from these prospects after the first few mailings.

          Right now, many absentee owners are second-guessing their role as a landlord. Many are quite motivated to get out from under the financial burden.

          Their pain points are very real, very urgent and you offer the ideal analgesic: sell now.

          Absentee Owner Series
          Send the Renters Make You Crazy postcard from the Absentee Owner Series to a targeted prospect list of Absentee Owners.

          To learn how to create your list of Absentee Owners in your specific zipcode – Watch This Video (below) – Then click here from a desktop/laptop to create your own list.

          Need help targeting other niches of buyers or sellers? Use our prospect list tool to create the ideal list (it’s easy) or call our support team for assistance at 866.405.3638!

          PLUS: When you have time…here are some Free resources we’ve made available to support your success.

          1. The Free Real Estate Mailing List Guide

          The Real Estate Mailing List Guide outlines the top tools for generating targeted prospect lists including Baby Boomers, Empty Nesters, Investors, Lifestyle Interests, High-Income Renters, Move-Up Markets, and more. The Guide also defines done-for-you marketing campaigns to match these markets. –Click Here

          2. The 12 Month Done-For-You Strategic Marketing Plan

          The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, Niche Marketing, Get More Listings, Geographic Farming, and Sphere of Influence. –Click Here

          3. The Free One-Page Real Estate Business Plan

          Treat your business like a business it is vital to long-term success in this industry. Some agents may put together elaborate business plans, yet there’s something powerful about keeping it simple. Check out our one page Online Real Estate Business Plan.  – Click Here

          4. Become a Listing Legend Free eBook 

          Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here

          5. The Free Online ROI Calculator

          Consistency and automation are the keys to success. Discover how effective direct mail marketing can dramatically increase your bottom line. Enter your statistics in our Free online ROI Calculator and click the ‘CALCULATE MY ROI’ button to see your results instantly! –Click Here

          6. The Real Estate Marketing Guide “CRUSH IT” 

          The “Crush It” Guide includes easy steps to launching an effective direct mail marketing campaign, how to create a targeted prospect list, the perfect way to layout marketing materials for success, seven opportunities available to target in your area right now. –Click Here