Driving For Dollars In Real Estate Investing

Garage Sales, Estate Sales and FSBOs, Oh My!

I’m a real estate investor working my own business and a mentor for the Real Estate Profit Coach. I travel the country teaching at real estate educational seminars. I also work with our students on-site and assist them in building their real estate business.

As a licensed real estate agent in Texas, I was taught the Driving For Dollars concept early in my career, and it absolutely works. Put on your real estate agent badge (Badges? I don’t need no stinkin’ badges!) and check out the weekend garage sales. Chances are good that a garage sale is the first step in getting a home ready to sell. The conversation starter will be you asking the homeowner why they are selling a particular item. I’m always amazed what people will tell you. You’ve been relocated? Really?

This technique will work a little differently in large neighborhood garage sales. Every homeowners motivation will be different. It also gives you the opportunity to meet a lot of homeowners and get your name and message out. Put on your comfortable shoes, build your business and get some exercise!

Does this technique work in today’s economy? Absolutely! Homeowner start selling their possessions when they get into financial difficulty. What a great opportunity for you to be there and create a winning scenario for both you and a homeowner.

The same concept can be applied to estate sales. The beneficiaries will most likely want or need to sell the home. Be gentle here and don’t act like an ambulance chaser. The key to being successful in a relationship business, and real estate is a relationship business, is being sincere. Always go for a win/win scenario. If you go only for the money, homeowners will sense this and you will not be as successful.

You don’t have to be a real estate agent to replicate this method. You don’t need any special tools other than an elevator speech for the homeowners. If you own a shirt with your marketing message on it, this would be a good time to wear it! Build your business and expand your network and your pocketbook! Your bank account will thank you. Happy hunting!

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