The phrase”We Buy Houses” is popular throughout the nation. For the purpose of this article, I am going to be speaking about the signs which use this phrase. I’m sure you have at the same time noticed a local sign that says”We Buy Houses” in your town or neighborhood. . The majority of them are handwritten, but some can even look more professional with coloured print. The term is also all over the internet for search engines to discover. So what’s the deal? Who’s putting these signs up, anyway?
I actually use signs like these in my private business. As a Real Estate Investor, I have signs posted in neighborhoods that I want to purchase in. The industry calls them “bandit signs”. Check we buy houses.This is because in a lot of cities and communities it is against city code to place them out on public land, thus 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 significant city road or highway. They can also be seen at entrances to areas 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 signals 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 vendors to call me. It is the opposite of marketing something for sale. We are basically marketing the fact that we would like to buy something. So, the majority of the time the signals will come from Real Estate Investors. There are various styles of Real Estate Investors, meaning that they have different exit strategies. Some investors like to find houses they can use as leases. Others are”flippers”, or instead are searching for homes they could fix up and purchase for a profit. The purpose is to find a motivated seller whose home has become a problem for them and has equity in it to market at a terrific discount. Many will be cash buyers, and can close in your house really quick. This is the advantage of pursuing the contact behind the sign, to sell your house fast.
Should you have a house you will need to sell, and wish to test out some from one of these signs to find out what they can offer, keep a few things in mind. Let’s call it three things in mind: First, they will expect a reduction, because this is what they are searching for. If you don’t have enough equity to encourage such, you can offer leasing your property to them or vendor financing. Second, its super easy. Should you end up selling your house by calling a number from a”bandit signal”, you need to have a very simple, smooth transaction ahead. But, there are always exceptions, which leads me to my third thing to understand: a few investors you contact may live somewhere else, which is not a big deal, but just know that they could be”selling” your contact info to a local investor, or just be expanding their markets.