Top 5 Guidelines for Effective Real Estate Marketing
Successful real estate marketing essentially follows these five steps. I want to encourage you to learn more about marketing before we go into the five steps of real estate marketing. You will earn more money as soon as you can uncover offers on your own – whenever you need to! There is a clear connection.
At the beginning of my real estate career, I had no idea how to “actually” market for deals. Instead, I relied on real estate brokers, neighborhood real estate investing organizations, etc. I completed many transactions, but I soon concluded that I wasn’t earning as much money in real estate as I thought I could.
If you follow these real estate marketing strategy, you’ll be well on your way to filling your funnel with five-figure deals.
Define Your Target Market: You need to be concentrated; if you focus on too many real estate markets and go in too many directions, you’ll always be hopping around and never getting ahead. You must learn to overcome resistance and be able to manage the various circumstances that may happen. Once you have mastered one market, you can replicate your strategy in subsequent calls. For instance, you can decide to begin collaborating with out-of-state or foreclosure owners. Add the other once you’ve established a real estate marketing strategy for the first. Then you can repeat it again and again! The most crucial thing to remember is that you HAVE to focus on motivated sellers, PERIOD.
Implement your plan: Successful real estate investors are believed to possess three qualities: specialized knowledge, the capacity for action, and constancy. Knowing something is not enough. You must put that information into practice. Say you use bandit signs in your real estate marketing plan. It would help if you had a means for consistently delivering signals, a way to filter leads, and a follow-up mechanism that is impenetrable. Make sure you have a method for sending out the entire series of mailers if you’re planning to run a direct mail campaign. For instance, our direct mail approach for foreclosures comprises six consecutive postcards. If you can’t maintain that speed or don’t have the resources you need to complete the plan, it doesn’t help you sprint off the starting line at 100 mph. Don’t waste your money if you only have enough to send the first postcard. Look for a different real estate marketing plan.
Pre-screen your leads: Making notes while driving on the back of an envelope is not a system! We send our leads to a call center or a different voicemail line depending on the marketing effort. Our staff and students have been educated to accomplish this since it detaches the system from emotion. All calls are routed through the system because I can’t concentrate on the motivated seller if I’m having a bad day or stuck in traffic. We ask that the seller leave a particular amount of information with the operator or on the line. Then, before we even have our first discussion with the seller, we use that information and perform our fundamental due diligence to determine whether or not the seller is genuinely motivated to sell.
Propose: You’ll be ready to make an opening offer during the first phone call if you adhere to a precise real estate marketing strategy. You can tell immediately if they are a motivated seller or just wasting your time by asking the correct questions and having a pre-screening questionnaire in front of you! Suppose this part of your real estate marketing strategy is in place. In that case, you’ll be able to determine the property’s value, estimate the approximate cost of repairs, and determine whether the seller is motivated. As a result, you will know the right price for your initial offer.
Exit Strategy: It’s time to put the purchase offer in writing once the seller has accepted our verbal offer or is very close to doing so. The contract has three contingencies, sometimes known as escape clauses. – Inspection – The deposit is the only remedy if the buyer defaults. – Pending property valuation
We can then select the best exit option based on this due diligence. Everything follows a straightforward flowchart process. There is no thought! It is comparable to calling for computer technical support. They pose a question to you, and, based on your response, proceed to the next round. For example, you wish to manage the marketing department of your real estate company in this manner.
Remember that the deals you aim to do should align with your real estate marketing strategies. If you want to flip houses, for instance, your marketing strategy can focus on motivated sellers who are in foreclosure. In addition, if you’re seeking to expand your rental portfolio, you might want to think about creating a real estate marketing strategy that focuses on eviction-filing landlords.
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