Many real estate professionals fail within the first few months after trying to make a business out of real-estate investing. It all starts with a good marketing plan. Then, you need to apply a consistent effort to that marketing plan. You will find more useful tips and tricks in this article.
Are there people in your community that don’t know you own a property or aren’t aware that you work as a real estate agent? You may not be marketing your real estate investment business as effectively as you could. Real estate investors tell me all the time that they don’t receive seller calls, and consequently are not receiving the leads necessary to find the deals they need. Increase your marketing and sellers will call. You will eventually be recognized for your work and sellers will call you based on your reputation. This is cost-effective marketing.
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A few weeks ago, a real estate agent was walking through a hardware, home and garden store and passed a couple of men in an aisle. As he passed me, a conversation took place. I heard one man say, “That’s the real estate guy.” Although I didn’t know either of these men, I now realize that they were real people and that I am trying to make the world aware that my business involves buying real estate in that region.
There are many ways you can let people know you are a real estate investor. There are many ways to make money, some more expensive than others. To get the right results in your area, you will need to try many different things. I’ve tried many marketing strategies for real estate businesses of all kinds and I have found the ones that produce enough leads to allow me to buy the houses and real estate holdings I want every month. These are the ones I have chosen:
According to my research, the classified advertisement in the largest newspaper in the area is the best source of leads for local investors in real estate. It is expensive and it may not generate calls in all cases. However, if you want to continue in the real-estate investing sector, just put it there. It is a part of the cost of running a real estate business. My 4 line ad costs $350.00 per calendar month. That’s the commercial range. It could be run 365 days per year, to ensure that everyone knows you’re a real-estate professional and are buying real estate in your area.
I have seen many “realty investor” ads disappear over the years. They are usually placed in for several weeks or less. Then they are removed or put in again at the end of the week. This is not how real estate marketing works. Place your real estate ad on the paper. Trust me, it will be more than worth the price. You will also see results after your first deal. Don’t feel distressed by the number of real estate investors posting ads. They are responding because they are being seen. You won’t waste your money if you don’t answer your phone.
If a new ad appears in my newspaper for information about real estate investors, I will call the advertisement. 9 out of 10 times I receive a message or an answering service. Someone who is looking for a solution to their real estate problems right away will find this a major turnoff. They need someone to calm their worries about their current situation and to assure them that everything will be fine. They don’t need an answering machine to do this, they need someone. You will need to decide what advertising to include. I’ve tried many ideas and my current one has not changed in over four years. It’s the one I like and I get many responses.
While I’ve seen other real estate professionals jostle for position and change their ad copy to lead mine, it hasn’t made any difference, at least not as far as I can see. You don’t need to worry about these things. Just get your advertising out there and let it go. Although it may take some time and possibly several weeks to get started, sellers will call. Once your classified ads are up and running, you can start to work on other marketing strategies. You can make a significant impact on your real estate buying process if you only look at one idea per week.
Advertisements might be published in free papers in your area or in the region where you plan to do real estate investments. These papers are called the “Thrifty Nickel” or whatever their name is in your area. These ads are both column ads and display ads. We spend about $175.00 per calendar month on these ads. They have always justified the cost of their advertising and are able to attract seller leads. These guys are open to discussing terms regarding your rates. You will likely get a better rate if the agreement is longer.
These signs are fantastic. These signs are one of the most effective lead-producing tools available. I have yet to send out many and not get bombarded with calls after I’ve arranged my marketing. They aren’t placed out very often. They might be out for a few or a couple of dozen per month. The ones that stay up and aren’t taken down will continue to draw in calls. They are a great investment in real estate marketing and advertising, with an average cost of less than $4.00 per signed. For discount signage prices, check the internet for sign manufacturer websites. I use signs 18×24 and place them in high-traffic areas around the area I want to buy houses.
After purchasing a house, I place a sign in my front yard. This marketing method has helped me to purchase multiple homes in the same area.
With your signs, you have two options: either wood stakes or wire stakes. The wood stakes are much more stable than the wire ones. They also cost less and can be found at any hardware store. You can simply cut long lengths to make the right size. You can then attach the sign to the roof using the orange or green plastic caps or screws. You have many options for what the sign’s wording can say. Remember that traffic is moving, so keep your message concise and easy to read. Your telephone number should be large, clear and easily read.
You will find the same content in the sign advertisement as my paper ad if you do a search. Because I believe branding helps you identify yourself. That is why I chose to label my sign advertising. A white sign with dark blue letters is usually the best draw. Black on yellow or orange is a popular choice. It’s not how or what you say, but the fact that you are out there marketing and putting up signs that matters. If you are logical in your real estate marketing efforts, you will build a brand image.
Be sure to check your local code enforcement laws when dealing with bandit signs. They may be lenient in some counties, but they will not do so in other areas. If they see you in another city or county, they might be more strict and ticket you immediately. Retail merchants located in high-tax areas are not allowed to put up A board signage without being sized and fined.
Flyers and other collateral are another inexpensive way to let people know that you are an investor in real estate. You can simply create a flyer using any of the free online flyer software websites. It will tell people you are a real-estate investor and how they can get in touch. You can make a few copies and have inexpensive advertising and marketing in real estate. It’s that easy. Place these flyers on any bulletin board in the area where you want to sell your property, foreclosure, or distressed home.
You can also place some in plastic sheet shielders to protect them from the rain and stick them on telephone poles in areas I want to purchase property. Although they are not as visible as the bandit signs but still attract calls from the neighborhood, they can be seen on the poles. I keep a file in my car and place it up when I go to a major discount or grocery store.
These are only a few examples. Any location that allows you to have one is a good choice. It is impossible to let enough people know you are a real-estate investor and that you are involved in the foreclosure market.
Optimum Real Estate Investment Marketing Ideas – These no-lose marketing ideas will get you the top leads and calls for Real Estate Investing.
These are my favorite and most enjoyable leads. These aren’t the best leads producers or most expensive, but they will definitely set you apart from the average investor.
Key Chains – I give these key chains to my buyers with their keys to the new house and then leave them around the place. These key chains can be made in any shape you choose, including #1 or a house. You can also have your message printed on them. Guess what mine say? Cost: About $. 25c each
Pens – These are my most used items. My pen is always with me when I sign sales receipts or any other paperwork. These things have been the subject of many outcries. I also often need one so I always have one. Even my attorney has one on the closing table. Two copies have been printed to my advantage. One is for sellers and one is for buyers. It says, “We Buy Homes!” One for sellers says “We Buy Homes!” and one to buyers, “Everyone Qualifies!” Cost – about $.26 cents per unit.
Coin holders – You can’t find them anymore, so it is a surprise that I have them. These things are my constant companion. Mine are bright yellow and have blue letters with my message. Each cost is approximately $.30 per piece
All of these promotional items are left all over the place, including on top of gas pumps and on display at grocery stores and department stores. It is a small amount of $100 per month if I give away 100 pens and 50 knives, and 50 coin holders. This is still very affordable advertising. It is also a low-cost marketing strategy, especially considering the amount of money you can make from a real estate transaction. These promotional products can be purchased at any major marketing company. You can also find companies online.
I order business cards in the thousands and recommend them to everyone. There are many great online places that can print quality cards at a fraction of the cost and also offer real estate services. They are inexpensive, my 2000 business cards cost me about $50.00, and I hand them out everywhere. My cards are everywhere. I keep them in my wallet, at restaurants, and even on pay phones. Aim to have a box every week. You don’t need to make the card fancy. In fact, the simpler the better. My card is bright yellow and has blue letters.
These signs have helped me get several deals. For the back of your truck/car, order a smaller set. When they ride behind you, people have a greater chance of reading the message.
My logo is great on shirts like golf shirts or oxford dress shirt. You can either create your own logo or have it created by one of the many advertising houses. Setup is free and all orders include your embroided logo.
I give away many shirts and pass out custom-imprinted hats to anyone I know who is wearing one. These hats look great and can help you project a professional image of your company.
Advertising can take many forms, and I have tried some of them in the past, such as door hangers, billboards, yellow pages, television, radio, and television advertisements. An old SUV in bright yellow and blue with the words “WE BUY HOUSES!” is my traveling billboard. and my phone number so that I can drive around and park overnight in different places. It gets the calls! Start marketing and let the world know where to go if they need to sell a house, pre-foreclosure, or distressed property, or just want to move. If the phone doesn’t ring, it’s not making money. You need to develop a solid marketing strategy and keep it going!