In real estate marketing there are basically 5 steps to be successful. Until we get through the 5 phases of real estate marketing, I would like to invite you to become a marketing student. The moment you discover your own offers-on request-the more money you’ll make! It’s a direct link.If you wish to learn more about this, visit Vancouver MLS News.
I didn’t understand how to “really” compete for offers when I started out in real estate. I relied on real estate agents, investment groups in local real estate, etc. I’ve made a lot of deals, but I found that I didn’t make the kind of money I wished I could in the estate.
Follow these five steps to successful real estate marketing and fill your own funnel full of five-figure offers.
Define Your Target Market: You have to be focused; if you’re running in too many directions, focusing on too many real estate markets, you’re going to always skip around, never get ahead. You need to learn to resolve objections; you need to know how to handle the various situations that come up. When you master one market, then market after market you can repeat your program. You may choose to start working with foreclosures, for example, or out of state owners. Once you have the property marketing system in place, add the other one. Then, you can just try it again and again! The single most important thing to note is that you need motivated sellers to goal… INTERVIEW.
Execute the plan: Successful real estate investors have three things to do: technical expertise, willingness to act and continuity. Getting the information doesn’t suffice. You’ve got to act on that understanding. Let’s claim that your marketing strategy for real estate includes bandit signs. You need a system to reliably distribute signals, a reliable process to filter leads and a bullet-proof follow-up system. When you are running a direct mail campaign, make sure that you have a program for sending out the whole sequence. For example, our direct mail foreclosure system is composed of 6 sequential postcards. If you don’t have the ability to maintain the speed or the equipment to execute the strategy, it doesn’t do you any good to come off the starting block at 100 mph! If you have only the resources to send out the first postcard, don’t worry about wasting your money. Find yet another marketing strategy for real estate.
Pre-screen your leads: It is not a device to write notes on the back of an envelope while you are driving! Based on the marketing campaign, we actually send our leads to a different voicemail line or call centre. Our students and staff were prepared to do this because emotion is taken out of the program. I can’t focus on that call from the motivated seller if I’m having a bad day or sitting in traffic, so all of the calls are fed through the system. We ask the vendor to leave some details on the line, or with the operator. Until we can have our first chat with the seller to find out if he / she is really a motivated seller, we then take that information and do our simple due diligence.
Create your bid: You’ll be prepared to make an initial offer during the first phone call by adopting a particular real estate marketing program. You’ll easily discover whether they’re a motivated seller or only wasting time by asking the right questions and getting a pre-screening sheet in front of you! If this feature is in place of your real estate marketing scheme, you will know what the property is worth, have a ballpark estimate of what the maintenance costs are, and will know if the seller is motivated. Accordingly, you’ll know at what price your first bid will be.
Contract / Exit Strategy: It is time to put the purchase offer in writing until the seller has approved or is close to our verbal bid. We have in the contract 3 contingencies-or clauses relating to escape. Inspection-In case of default of the borrower, the deposit is the only remedy-Subject to property evaluation Based on this due diligence, we can then determine which exit strategy is most suitable. This all follows a method of simple flow charting. There is no such thing as thought! It is like when you call on your machine for technical assistance. They ask you a question, and based on the answer you give… They take the next step. This is how you want your real estate business to run its marketing division.
Keep in mind that your marketing strategies on real estate will be in line with the types of deals you are trying to make. If you want to flip homes, for example, your marketing strategy could be targeting motivated sellers facing foreclosure. In another note, if you’re trying to build a rental portfolio, you may be considering developing a marketing campaign for real estate to target landlords filing evictions.