There are many places where you can put out bandit signs for real estate. Not only can you put them out on stands near the road, on the highway or in front of your property, but I have businesses that allow me to put them in their window and I either pay them rent, a property commission, or per lead.
Partnerships Aren’t Only with Other Investors
Always keep some signs in your car and stop by one or two businesses each day and ask the owner if you can put your sign in the window. As an example, I did this with a local auto repair shop and they have sent me several leads, one of which I closed a deal with. I purchased the property for $80k and sold it for $100k. The buyer put in $7k and sold it retail for $139k. Now that’s a win, win transaction that happened because I thought of an out of the box use for my bandit signs for real estate.
In NC, where I do a lot of business, you cannot pay a person a referral fee for an actual transaction, but you can pay for a lead. Just be careful and know your state laws. If you’re in a state where they don’t allow paying referral fees, you have to pay per lead. Don’t try to do something that’s going to get you in trouble. It will shut you down and give you a bad reputation. Check with your local real estate investors association or contact the state real estate commission to learn your state’s laws.
Reach Them at the Right Time
In my area, where there are lots of new home communities, there are sign placement companies who will put out open house and new home communities signs for builders on Friday and come and pick them up every Monday morning. If you have these in your area you can hire them to put your “I Buy Houses” sign right along with the new home signs.
Think about it. Most people who want to buy a new home already have another one they need to sell first, so you are probably the first one they’ll call since you caught them at the exact time they’re looking to buy a new home. When you see all of the new home signs out together, then call one of them and just ask who puts them out.
Here’s another idea to use your bandit signs for real estate. Put your signs out near retirement homes and communities. There are many people who drive by them going to the community or retirement homes and they’ll see your sign as many have property they need to sell.
Hire Others for the Grunt Work
When putting out signs in different areas, I don’t put them out myself. You can get a college student, teenager, etc. You could even contact a local church and ask them who may need work or see if you could get the youth group to put them out for a donation. Be sure to check out liability issues, as you don’t want to do anything where someone gets hurt, and if they did, you don’t want to be liable.
I pay $2.00 per sign and they have to bring me back pictures of everywhere they have placed the signs which is included in that two dollars. This is a quality control measure. I don’t really need the picture, I just want to make sure they’re not going out and throwing them in the dumpster and coming back to collect their $2.00 per sign.
If you’re rehabbing properties, and you have a down day; get your rehab contractor to put up some signs. Most don’t mind it, especially if you have a rehab contractor that has helpers. They’ll go out and pay them $1.00 and you pay them $2.00 so they’ve made a profit for the day. Great idea for your bandit signs for real estate, huh?