There may be nothing more stressful to an investor than the prospect of searching for a buyer once an offer has been accepted. Accordingly, upon completion of a subject property, if there is no end-buyer an investor may incur several costs and penalties that are not conducive to their bottom line. However, as savvy investors may already be aware, the possession of a well-devised buyers list may mitigate the risk of being unable to sell a property. In fact, a performing buyers list will not only help you sell your properties faster, but it will contribute to higher profit margins.
Ultimately, investors should make an attempt to continually grow their buyers list. Even in the absence of a property, investors should focus their attention on establishing relationships that can be added to their potential list. Regardless of your exit strategy, however, it will always be beneficial to have a tool like this at your disposal. Of course, you must first learn how to create one before you can use it.
The list should include your buyers’ information such as first and last name, email address, phone number, buying criteria, type of funding, and any other important information that may be of use in the foreseeable future.
The following info-graphic illustrates the appropriate steps that need to be taken to build a buyers list: