Building Relationships with Buyers and Sellers (LA 1415)
Transcript:
Steven Jack Butala:
Steve and Jill here.
Jill DeWit:
Hello.
Steven Jack Butala:
Welcome to the Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala.
Jill DeWit:
And I'm Jill DeWit, broadcasting from sunny, southern California.
Steven Jack Butala:
Today Jill and I talk about building relationships with buyers and sellers.
Jill DeWit:
And more. I threw in there and escrow agents and money partners, because it's all tied together.
Steven Jack Butala:
Yeah.
Jill DeWit:
Thank you. You need to have them all on your team.
Steven Jack Butala:
This is quite possibly the single most important thing to get deals done, or really anything done in life that I can think of. The data part of this, I'm a what I think as a pretty good data person and a pretty good statistical person.
Jill DeWit:
You're getting there, babe. I love, you're trying to be so, not have a big head and I appreciate that, but you should have a big head.
Steven Jack Butala:
But it would all be wasted if we couldn't sell anything. And every single one of the people that I know that are real good at this, every single one of the advanced members, the Land Academy advanced members, they can either do both data and sell, or they have partners like us and a situation like us.
Jill DeWit:
I think most of them have partners.
Steven Jack Butala:
Yeah, they do.
Jill DeWit:
Yeah.
Steven Jack Butala:
Actually most of them-
Jill DeWit:
I'm trying to think of one. Can you think of one? Maybe one that can do both, but even he is not as good on the personal part of it as he thinks he is.
Steven Jack Butala:
You know what, Jill? There's a couple I can think of, but I think they have lot of people surrounding them. No, there is none. There are no people ...
Jill DeWit:
Thank you.
Steven Jack Butala:
They either have a partner or they have a staff already ...
Jill DeWit:
Right. Thank you.
Steven Jack Butala:
... that handles it, like a built-in sales staff from another company that just sells dirt.
Jill DeWit:
Right.
Steven Jack Butala:
Before we get into it, let's take a question posted by one of our members on the landinvestors.com online community. It's free.
Jill DeWit:
Brian asks, "Quick version. Is a higher or lower ratio of land postings like on Lands of America, et cetera, do total properties in a county preferable when identifying target county markets?"
Steven Jack Butala:
No. What he's saying is if there's a lot of properties for sale, tons of properties for sale, and then there's a bunch of properties that exist in that market-
Jill DeWit:
In that county.
Steven Jack Butala:
... is it better if that ratio is higher, that there's a lot of property for sale? The answer is hell no.
Jill DeWit:
Right.
Steven Jack Butala:
Go ahead.
Jill DeWit:
And then the longer version, he said, "Longer context, in Land Academy 1.0, chapter three," I love this, "while Jack and Jill don't go into a great detail on this, they seem to heavily imply that a higher land posting total property ratio is a positive sign, since they format the four chosen counties in green with higher percentages. And then they offer two cities with lower percentages formatted in red is what you don't want to see."
Steven Jack Butala:
And he goes on and on and on here. This is an incredibly intelligent question.
Jill DeWit:
This is Jack's red, yellow, green chart that he ...
Steven Jack Butala:
Yes. So, what Brian's saying is how do I pick a county or how do I pick a zip code to choose mail? We have a, Jill and I, well, I devised this system a lot of years ago for myself and now it's in our programs of this three, it's a red, green and yellow test. It's three statistics that involve percentage of property that's for sale versus the universe of properties in that county, land properties. And you want that to be very low. All right. So, he's going through Land Academy 1.0 and asking questions.