Finding and Generating Leads (without paying for them!)
Feb 01, 2024BOLO.
Huh?
It’s a knife from the Philippines. It’s a delicious type of cake. It’s a chain of restaurants. It’s a stylish men’s necktie.
And BOLO is a way to find listing leads without having to pay for them. Be on the lookout as you travel in and around your market for some tell-tale signs.
The most obvious indication that someone wants to sell their home is a For Sale By Owner sign. Have you ever driven past a For Sale By Owner sign and not stopped? Scaredy cat? Well, if no one is home, no one can holler at you.
Leave your card with a note that asks, “Who is showing your home when you’re not home? Call me. I can help. Let’s get together.”
If the owner is home, ask this question: “Have you found a buyer yet?” There are three responses you will hear. Yes, no or “Get off my lawn.” Take your conversational cue from their answer.
What are a few other indications that homeowners might be thinking of selling?
For Rent sign
Dumpster or POD out front
Garage/moving sales
Obvious deferred maintenance
Unplowed driveway
Overgrown landscaping
Contractor vehicles
Landscapers at work
Painters
Shuttered and/or vacant homes.
When you see any of these signs, stop and investigate.
Talk to neighbors. Talk to the contractors at work. Check the MLS and county records.
Where do the tax bills go? Check Forewarn. Check for lis pendens. Check for probate.
Then, send letters, video text, call, and stop by again.
Follow up.
Most agents WON'T follow up.
It’s a business decision. Buy leads or use your noodle. The first takes no effort, just a healthy discretionary bank balance. The second takes very little cash, just your time and effort.
So, BOLO. Be on the lookout. It’s worth it.
Do you agree? Where have you found a lead unexpectedly?
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