The phrase "We Buy Houses" is widely used throughout the country. For the purpose of this article, I am going to be talking about the signs that use this phrase. I'm sure you have at one time noticed a local sign that states "We Buy Houses" in your town or neighborhood. There are other variations, like "I buy houses", "We Buy Ugly Houses", etc... Most of them are handwritten, but some can even look more professional with colored print. The phrase is also all over the internet for search engines to discover. So what's the deal? Who is putting these signs up, anyway?
I actually use signs such as these in my personal business. As a Real Estate Investor, I have signs posted in neighborhoods that I am looking to purchase in. The industry calls them "bandit signs". This is because in a lot of cities and communities it is against city code to put them out on public property, hence the word "bandit". They are mostly used to "blanket" an area for maximum exposure. You can find them on exits coming off the freeways, at major stop lights or intersections, or posted along a major city street or highway. They can also be seen at entrances to neighborhoods and at shopping centers and Wal-mart stores. Some will be staked in the ground, while others can be found nailed to telephone poles.
So who puts these signs up, and what is their business? The purpose of these signs is to obviously market to home sellers. As I mentioned before, I invest in Real Estate, and using these signs are a great way to get sellers to call me. It is the opposite of marketing something for sale. We are basically marketing the fact that we want to buy something. So, the majority of the time the signs will come from Real Estate Investors. There are different styles of Real Estate Investors, meaning they have different exit strategies. Some investors like to find homes they can use as rentals. Others are "flippers", or rather want to find homes they can fix up and sale for a profit. As Investors, they are looking for discounted properties, or "great deals". The goal is to find a motivated seller whose home has become a problem for them and has equity in it to sell at a great discount. Most will be cash buyers, and can close on your house really quick. This is the advantage of pursuing the contact behind the sign, to sell your house fast.
If you do have a house you need to sell, and want to try out a number from one of these signs to see what they can offer, keep a few things in mind. Let's call it three things in mind: First, they will expect a discount, because this is what they are looking for. If you don't have enough equity to support such, you can offer leasing your property to them or seller financing. Second, its super easy. If you do end up selling your home by contacting a number from a "bandit sign", you should have a very easy, smooth transaction ahead. But, there are always exceptions, which leads me to my third thing to know: some investors you contact may live somewhere else, which isn't a big deal, but just know that they could be "selling" your contact information to a local investor, or just be expanding their markets.
Now that you know about "We Buy Houses" signs, give one a call and see how they can help you. It's free, and the least you can do is have a little fun with them!
Justin Patterson is a successful Real Estate Investor in the Little Rock, AR metro area. He owns an investment company that buys many types of properties. He also specializes in offering Creative Real Estate Solutions.
The phrase "We Buy Houses" is widely used throughout the country. For the purpose of this article, I am going to be talking about the signs that use this phrase. I'm sure you have at one time noticed a local sign that states "We Buy Houses" in your town or neighborhood. SELL YOUR HOUSE DIVORCE
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